Global Semi-Autonomous and Autonomous Bus Market Overview:
Autonomous buses are the vehicle that can accelerate, deaccelerate, stop, and change lanes without any human intervention. On the other hand, a semi-autonomous vehicle is operated by the driver but can change the path and park the bus themselves.
Global Semi-Autonomous and Autonomous Bus Market Insights
The global semi-autonomous and autonomous bus
market expected to increase market value by USD 2700 million with exponential CAGR in the forecast period from 2020-2027. The market demand for the semi-autonomous and autonomous bus is fueling due to the rising technology advancement, increasing road accidents, shortage of bus drivers, and the need for efficient bus operations propelling market share. The factors affecting the market growth are the demand for safe and efficient driving options, the development of connected car technology, the increase in research and development in the field of autonomous vehicles, and government support for these cars in terms of policies and discounts. Moreover, unlike a traditional bus, the unique features provided by connected buses, such as real-time traffic monitoring, smartphone-to-vehicle connections, traffic and collision warnings, and roadside assistance, are increasing the growing demand for these semi-autonomous and autonomous bus market.
Adoption of ADAS technology
ADAS is an advanced technology implemented into vehicles, which can semi-automatically understand the surrounding environment better and understand the potential conditions to achieve safe driving. ADAS
can equip cars and other vehicles with autonomous driving technology, such as lidar-based sensors, high-resolution rear-view cameras, and automatic emergency braking systems or frontal collision warning system. ADAS is a critical technology in the intelligent transformation of automobiles. With the increasing demands of consumers for driving safety and comfort and the promotion of related policies, it is ushering in a golden development period.
Increasing road accidents
The rising accidents on roads have stringent rules and regulations for the vehicle by the government. The government regulations have compelled OEMs to incorporate necessary features in the buses that will drive the market for a semi-autonomous and autonomous bus market. Moreover, the semi-autonomous and autonomous buses are driving the market due to the technology advancement features that help eliminate the risk of accidents by incorporating the advanced system in the buses that control the bus in any critical situation.
By Propulsion Type Segmental Analysis
Based on the propulsion type, the global semi-autonomous and autonomous bus market classified into Diesel, Electric, Hybrid. The electric bus segment estimated to dominates the maximum share of the global semi-autonomous and autonomous bus market. It mainly owes the various advantages associated with the use of electric buses. The electric buses are better for the environment as it produces less vibration, less noise, and zero-emission and coupled with lower cost. The demand for the electric bus is capturing share around the world in the semi-autonomous and autonomous bus market.
By Level of Automation Segmental Analysis
Based on the level of automation, the global semi-autonomous and autonomous bus market segmented into Level 1, Level 2 & 3, Level 4, and Level 5. The level 2&3 segment dominated the largest market share in the global semi-autonomous and autonomous bus market. The semi-autonomous and autonomous bus majorly used level 2&3 as it represents the bus driver’s function, which the driver has the primary control over the vehicle, and partially uses. Moreover, with rising automation in the automotive industry, the demand for level 4 and level 5 will be growing to the full automation in a bus where the vehicle fully controlled autonomously.
By Application Segmental Analysis
Based on application, the global semi-autonomous and autonomous bus market bifurcated into Shuttle, Intercity/Intracity. The shuttle segment holds the largest share in the global semi-autonomous and autonomous bus market. It is mainly due to the pilot program of autonomous shuttle worldwide that shows the shuttle is the practical solution for improving the traditional public transport.
By ADAS Feature Segmental Analysis
Based on the ADAS feature, the global semi-autonomous and autonomous bus market categorized into ACC, AEB, BSD, LKA, IPA, JTA, HP. The automatic emergency brake (AEB) segment dominates the largest end-use segment in the global semi-autonomous and autonomous bus market in the forecast period from 2020-2027. It is mainly owing to the advantages of the automatic emergency brake system in the semi-autonomous and autonomous buses as it lowers the risk of collision and enhanced stopping power. In case of emergency or any critical situation where the driver is unable to apply brakes, the fully automatic emergency brake system applies the brakes to eliminate the accident’s impact and reduce risk.
By Sensor Segmental Analysis
Based on the sensor, the global semi-autonomous and autonomous bus market segmented into Ultrasonic, Camera, LiDAR, Radar. The ultrasonic sensor segment dominates the market share for the global semi-autonomous and autonomous bus market. It is mainly due to the ultrasonic sensor used in semi-autonomous and autonomous buses to detect short-range object detection. Also, the cost of the ultrasonic sensor is less than compared to the other sensors.
By Region Segmental Analysis
Based on geography, the global semi-autonomous and autonomous bus market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world’s fastest-growing global semi-autonomous and autonomous bus market, accounting for the largest share. The demand for the semi-autonomous and autonomous bus is rising owing to the rising road accidents, and people have a high dependence on public transport. Thus, the semi-autonomous and autonomous bus market is fueling its demand in the Asia Pacific.
Companies such as Continental, Bosch, Aptiv, AB Volvo, Denso and others are key players in the global semi-autonomous and autonomous bus market.
- Market research and consulting firms
- Industry associations
- Global semi-autonomous and autonomous bus manufacturing companies
- Research organizations and consulting companies’ semi-autonomous and autonomous bus
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling By Propulsion Type By Level of Automation
- Level 1
- Level 2 & Level 3
- Level 4
- Level 5
By ADAS Feature
- North America
- Asia Pacific
- South America
- Middle East & Africa