According to a new market report published by Lucintel, the future of the global self-driving bus market looks promising with opportunities in hardware, software, and services segments. The global self-driving bus market is expected to grow with a CAGR of 41% from 2021 to 2026. The major drivers for this market are growth in connected infrastructure, reduction in traffic congestion, and less consumption of gas and battery.
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In this market, level 3, level 4 and level 5 are the major levels of automation used to manufacture self-driving bus. On the basis of comprehensive research, Lucintel forecasts that level 3 will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the capability of environment detection and making informed decisions.
Within the global self-driving bus market, the hardware segment is expected to witness the highest growth over the forecast period due to the cost of hardware components used for functioning self-driving buses and the services cover full vehicle testing and approvals.
North America is expected to remain the largest market and witness the highest growth rate over the forecast period due to the launch of new range of self-driving bus services and government initiatives for development of driverless bus.
Emerging trends, which have a direct impact on the dynamics of the industry, include development in smart cities and reduction in traffic congestion due to improved safety. AV Volvo, Continental AG, Volkswagen AG, Tesla, Scania AB, Daimler AG, Proterra, Hyundai Motor Company, and Hino Motors, Ltd., and Navya are among the major suppliers of the self-driving bus market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global self-driving bus market by level of automation, component and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Self-driving Bus Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global self-driving bus market by level of automation, component and region, as follows:
By Level of Automation [Value ($ Million) from 2015 to 2026]:
By Component [Value ($ Million) from 2015 to 2026]:
Hardware
Software
Services
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
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