Self-Driving Bus Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Autonomous vehicles also known as self-driving car or bus makes use artificial intelligence (AI) software, cameras, and light detection & ranging (LiDAR), RADAR, to sense the surrounding environment and navigate by creating an active 3D map of that location. There are diverse levels of autonomy ranging from semi-autonomous that involve driver assistance to fully autonomous, which does not require human assistance. The high amount of fuel is burned while driving at high speeds or braking and re-accelerating excessively. Self-driving bus consumes less gas and uses less battery, which results in less pollution.

MARKET SCOPE

The "Global Self-Driving Bus Market Analysis to 2031" is a specialized and in-depth study of the Self-Driving Bus market with a special focus on the global market trend analysis. The report aims to provide an overview of Self-Driving Bus market with detailed market segmentation by t automation, component and geography. The global Self-Driving Bus market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Self-Driving Bus market players and offers key trends and opportunities in the Self-Driving Bus market.

MARKET SEGMENTATION

•   On the basis of level of automation, the market is segmented as Level 1, Level 2, Level 3, Level 4, and Level 5.
  
•   On the basis of component, the market is segmented as hardware, software, and services.
  

MARKET DYNAMICS
Drivers:

•   Growth in connected infrastructure
  
•   Reduction in traffic congestion due to improved safety
  Restraint -
  
•   High manufacturing cost and data management challenges
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Self-Driving Bus market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Self-Driving Bus market in these regions.

IMPACT OF COVID-19 ON SELF-DRIVING BUS MARKET

The COVID-19 pandemic impacted the automotive sector drastically due to the standstill of major OEM and supplier factory. Approximately 90% of the factories were closed in China, Europe, and North America. Additionally, mobility players suffered drastically from the pandemic as the public-transit ridership fell from 70 to 90 percent across major cities worldwide. Furthermore, the impact of COVID-19 on autonomous vehicles differed across different regions, subject to technology readiness, changes in consumer behavior, and regulatory developments. For instance, in North America, autonomous vehicle testing was temporarily suspended and the consumer's behavior trends shifted away from shared mobility and public transit. However, it is speculated that as the effects of COVID-19 gets reduced and vaccine drives are conducted successfully, the consumers could start adopting road based mobility which would result in market players doubling their investment in autonomous vehicle. For instance, DB Regio AG and ZF Friedrichshafen AG have entered a strategic partnership to introduce highly automated and autonomous bus shuttles on the roads in Germany in the near future. Such initiatives by companies and coinciding government policies for connected safe public transit are expected to reverse the impact on the global self-driving bus market.

Self-Driving Bus Market Report Analysis

Self-Driving Bus Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• AB Volvo
• LILEE Systems
• Daimler AG
• Hino Motors, Ltd.
• EasyMile
• Navya
• Proterra
• Volkswagen Group
• Rivian

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Level of Automation

• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

By Component

• Hardware
• Software
• Services

MARKET PLAYERS

The reports cover key developments in the Self-Driving Bus market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Self-Driving Bus market are anticipated to lucrative growth opportunities in the future with the rising demand for Self-Driving Bus market. Below mentioned is the list of few companies engaged in the Self-Driving Bus market.

The report also includes the profiles of key Self-Driving Bus market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   AB Volvo
  
•   Daimler AG
  
•   EasyMile
  
•   Hino Motors, Ltd.
  
•   LILEE Systems
  
•   Navya
  
•   New Flyer (NFI Group Inc.)
  
•   Proterra
  
•   Rivian
  
•   Volkswagen Group
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Self-Driving Bus Market Report Scope