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Semi-Autonomous and Autonomous Bus Market By Type (Electric, Diesel, and Hybrid); By technology (shuttle and intercity); By Sensor (VN ultrasonic, camera, LiDAR and radar) By Component (Hardware, Software and Services) and Region -Analysis of Market Size, Share and Trends for 2014 -2019 and Forecasts to 2030.
The Semi-Autonomous and Autonomous Bus Market registered a growth of USD 29509.6 million 2021 and is expected to register a growth of USD USD 225601.7 million in the forecast period 2030 and grow at a CAGR of 25.40% till 2030.
Semi-Autonomous and Autonomous Bus Market Buses are vehicles that have the potential of operating without physical contact or human involvement through technology software. They use technologies like light detection and ranging (LiDAR) to sense the environment and take decisions accordingly without any form of human assistance. By using artificial intelligence it monitors a 60-meter range and forms a 3D map of its surroundings by using the RADAR technology to sense, navigate, control, and operate the vehicle. The driverless bus can be used for time-saving and cost-saving transportation from within to outside cities.
The Semi-Autonomous and Autonomous Bus Market is expected to project a CAGR of 25.40% during the forecast period, 2021-2030
An increase in the number of smart cities around the world is to increase the market growth for Semi-Autonomous and Autonomous Bus Markets. Increased demand for fuel-efficient engines as well as time-efficient and cost-efficient technology is also expected to spur the growth of the market. The Semi-Autonomous and Autonomous Bus provides various benefits and fewer technical challenges, they require less maintenance and are accurate which reduces traffic and risks of accidents and thus acts as a driver in increasing market growth. The Internet of things and the rise in demand for luxury vehicles are also factors that spur the growth of the Semi-Autonomous and Autonomous Bus market.
The electric vehicle segment to grow with the highest CAGR of XX% during 2020-2030
By Type, the market is segmented into electric, diesel, and hybrid. The electric vehicle is expected to dominate the segment due to its huge demand globally owing to the rise in environmental awareness and government regulations.
The shuttle segment to grow with the highest CAGR of XX% during 2020-2030
By Application, it can be classified into shuttle and intercity. The shuttle segment dominated the market because they are already commercialized; many big key players such as Navya, EasyMile, and local motors have developed self-driven shuttles.
The ultrasonic sensor segment to grow with the highest CAGR of XX% during 2020-2030
By Sensor, it is divided into ultrasonic, camera, LiDAR, and radar. The ultrasonic sensor is expected to hold the highest CAGR due to its economical feature as well as short-range and small field view which helps in parking features.
The software segment to grow with the highest CAGR of XX% during 2020-2030
By component, it can be segmented into hardware, software, and services. The software segment is dominating the market for semi-autonomous and autonomous buses due to the high demand for digitally transformed vehicles and features like self-parking, adaptive cruise control, and lane-keeping.
The rise in the number of smart cities and increased demand for the Internet of things spur the growth of the semi-autonomous and autonomous bus market
An increase in the number of smart cities around the world is to increase the market growth for Semi-Autonomous and Autonomous Bus Markets. Increased demand for fuel-efficient engines as well as time-efficient and cost-efficient technology is also expected to spur the growth of the market. The Semi-Autonomous and Autonomous Bus provides various benefits and fewer technical challenges, they require less maintenance and are accurate which reduces traffic and risks of accidents and thus acts as a driver in increasing market growth. The Internet of things and the rise in demand for luxury vehicles are also factors that spur the growth of the Semi-Autonomous and Autonomous Bus market.
High cost and cybersecurity threats to hamper growth
High technological costs and unemployment for drivers are major factors that hamper the growth of the Semi-Autonomous and Autonomous Bus Market. The cyber threat is another reason that negatively impacts the growth of the market. Problems in legal as well as regulatory framework are also expected to act as a restraint in the semi-autonomous and autonomous bus market.
North America is expected to dominate the regional segment due to the early adoption of technology as well as the presence of prominent key players in the region. Digital infrastructure is being used in the region for accommodating connectivity between infrastructure and vehicles to reduce traffic and increase safety.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Semi-Autonomous and Autonomous Bus Market size was estimated at USD XX billion in 2021 and is expected to reach USD XX billion by 2030
AB Volvo, Robert Bosch, Continental AG, Denso, Aptiv, Nvidia, Daimler, Proterra, Navya, Other Prominent Players
The electric vehicle segment and The ultrasonic sensor segment
Drivers The rise in the number of smart cities and increased demand for the Internet of things spur the growth of the semi-autonomous and autonomous bus market
Semi-Autonomous and Autonomous Bus Market Buses are vehicles that have the potential of operating without physical contact or human involvement through technology software.
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