Autonomous Public Transit Market to Record 21.5% CAGR Growth Through 2029 | Global Analysis Report

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Autonomous Public Transit Market Outlook: How is the Market Expected to Grow by 2025?
The market size for autonomous public transit has witnessed exponential growth lately. The value is projected to rise from $2.59 billion in 2024 to $3.15 billion in 2025, signaling a compound annual growth rate (CAGR) of 21.8%. The significant rise in the historical phase is due to factors such as increased urbanization, mounting environmental worries, a rise in investments, supportive governmental regulations, and a transition towards electrification.

Autonomous Public Transit Market Forecast: What Size Will It Reach By 2029?
In the coming years, the market size of autonomous public transit is predicted to experience significant expansion. The anticipated worth of this market is projected to reach $6.86 billion by 2029, with a compound annual growth rate (CAGR) of 21.5%. The factors that would contribute to the growth during the predicted period includes the rising requirement for eco-friendly transportation options, increasing interest in cost-effective transit solutions, partnerships and trial initiatives among manufacturers, and the rapid increase in the adoption of autonomous and connected vehicles. There is also an increased focus on improving passenger safety and comfort. The forecast period is marked by major trends such as the large-scale adoption of artificial intelligence and machine learning, vehicle-to-vehicle communication, lane-keeping assistance schemes, and systems to avoid collisions.

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Which Key Market Drivers Will Shape Autonomous Public Transit Industry Trends in 2025-2029?
The growth of the autonomous public transit market is anticipated to be driven by escalating traffic congestion. Traffic congestion is a condition on the road network where the number of vehicles surpasses the road's capacity, resulting in decreased speeds, prolonged journeys, and lines of stationary vehicles. The primary cause of growing traffic congestion is the swift rise in urban populations, leading to increased vehicle ownership and the need for more road infrastructure. This congestion can be mitigated by autonomous public transit, which enhances route efficiency, lessens the number of privately owned vehicles on the streets, and encourages the use of shared mobility solutions to optimally accommodate passengers, thereby reducing travel time and fuel usage. Vehicles traveled a whopping 330.8 billion miles on Great Britain's roads in 2023, a 2.2% increase from the previous year, as stated by the Department for Transport, a UK-based ministerial department, in May 2024. Hence, the rise in traffic congestion is stimulating the expansion of the autonomous public transit market.

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What Are the High-Growth Segments in the Autonomous Public Transit Market?
The autonomous public transit market covered in this report is segmented -

1) By Vehicle Type: Autonomous Electric Buses, Autonomous Shuttles, Autonomous Taxis
2) By Component: Software, Hardware, Services
3) By Application: Industrial Transportation, Urban Transportation, Rural Transportation

Subsegments:
1) By Autonomous Electric Buses: Battery Electric Buses, Hydrogen Fuel Cell Buses, Plug-In Hybrid Autonomous Buses, Articulated Autonomous Buses, Mini Or Mid-Size Autonomous Buses
2) By Autonomous Shuttles: Low-Speed Campus Shuttles, First-Mile Or Last-Mile Shuttles, On-Demand Autonomous Shuttles, Fixed Route Autonomous Shuttles, Shared Autonomous Shuttles
3) By Autonomous Taxis: Sedan-Based Robotaxis, SUV-Based Robotaxis, Ride-Hailing Fleet Robotaxis, Premium Autonomous Taxis, Shared Autonomous Taxis

Which Global Trends Are Driving Autonomous Public Transit Market Expansion?
Prominent businesses in the autonomous public transit market are concentrating their efforts on creating unique solutions like Level 4 autonomous vehicles to expedite the use of self-driving technology in public transportation systems. Level 4 autonomous vehicles are driverless vehicles that can handle all driving tasks in predefined conditions or areas without any human assistance. For example, Karsan, an autonomous vehicle producer based in Turkey, joined forces with ADASTEC Corporation, an American company specializing in autonomous driving technology, in August 2024. They introduced the Autonomous e-ATAK, a pioneering automated bus service featuring the globe's first Level-4 driverless public vehicle navigating a predetermined 2.2-kilometer course in Arbon. The Autonomous e-ATAK comes with high-tech sensor fusion technology comprising LiDAR, radar, and cameras, coupled with ADASTEC's flowride.ai software platform. This integration facilitates safe navigation, on-the-spot decision making, and complete autonomy in intricate urban landscapes.

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Who Are the Fastest-Growing Companies in the Autonomous Public Transit Industry?
Major companies operating in the autonomous public transit market are Amazon.com Inc., AB Volvo, Continental AG, Scania CV AB, Transdev, MAN Truck & Bus, Keolis, Yutong Bus Co. Ltd., Arrival UK Ltd., Waymo LLC, Nuro Inc., Motional Inc., Karsan, EasyMile, Aurora Innovation, Pony AI Inc., May Mobility, AutoX Inc., LILEE System, Navya, Perrone Robotics Inc.

What Is the Regional Outlook for the Autonomous Public Transit Market by 2029?
Asia-Pacific was the largest region in the autonomous public transit market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous public transit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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