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Autonomous Bus Market Trends

Report ID: GMI5105
Published Date: Oct 2023
Report Format: PDF

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Autonomous Bus Market Trends

The accelerating transition from fossil fuel-based mobility toward electric buses will drive the autonomous bus industry over the next ten years. As sustainability becomes a top priority, autonomous buses are likely to shift toward electric and sustainable power sources. This trend aligns with the growing focus on reducing emissions and promoting environmentally friendly public transportation solutions.

To that end, bus manufacturers are actively developing electric mobility solutions to ease the global burden of GHG and carbon emissions, boosting the autonomous bus market growth. For instance, in September 2023, Schaeffler and VDL Groep revealed their collaboration to investigate the creation and manufacturing of an advanced autonomous shuttle for public transportation. These two privately owned companies unveiled an initial prototype, alongside showcasing the essential automotive electrification and steering technologies, at the IAA Mobility exhibition in Munich.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of autonomous bus reached USD 1.7 billion in 2022 and is set to record 19.7% CAGR between 2023 and 2032, says this GMI report.

Intracity segment held a market share of over 85% in 2022, due to potential of autonomous buses to revolutionize urban transportation.

Asia Pacific market share was over 50% in 2022, owing to the strong commitment to technological advancement of nations like China and India that pushing heavy investment in autonomous vehicle R&D.

AB Volvo, Apollo Baidu (Baidu, Inc.), BYD Co. Ltd., Daimler AG, Easymile, MAN Truck & Bus, Navya, New Flyer (NFI Group), Toyota Motor Corporation, and Yutong Group Co. Ltd.