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How Will The Autonomous Public Transit Market Valuation Change Between Now And 2029?

Recently, the market size for autonomous public transportation has experienced significant expansion. The market growth is set to increase from a value of $2.59 billion in 2024 to an estimated $3.15 billion in 2025, portraying a compound annual growth rate (CAGR) of 21.8%. Factors such as rapid urbanization, escalation in environmental considerations, rising investments, beneficial government regulations, and a transition to electrification have all contributed to the growth during the historic period.

Expectations are high for a substantial expansion within the autonomous public transit market in the coming years. The market is predicted to escalate to $6.86 billion in 2029 with a compound annual growth rate (CAGR) of 21.5%. The predicted growth during this forecast period could be due to increasing needs for environmentally friendly transportation, affordable transportation options, trial initiatives, collaborations between manufacturers, the growing acceptance of technologically advanced and autonomous vehicles, and a heightened emphasis on passenger safety and comfort. Prominent trends to watch during this forecast period could include large-scale deployment of artificial intelligence (AI) and machine learning (ML), vehicle intercommunication, lane maintenance assistance, and systems designed to prevent collisions.

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What Are The Primary Factors Supporting The Autonomous Public Transit Market Expansion?

The escalation in traffic gridlock is projected to spur the expansion of the self-driving public transit sector in the future. The term ‘traffic congestion’ is used to describe situations where the demand for road space exceeds the supply, causing a decrease in speed, an increase in travel duration, and cars lining up on the road. This rise in traffic congestion is mainly due to the quick expansion of city populations, which results in more vehicles being owned and a larger demand for road infrastructure. Self-driving public transit aids in easing traffic by enhancing route effectiveness, decreasing the amount of personal vehicles on the roads, and encouraging shared transportation methods that optimize the number of passengers whilst reducing travel duration and fuel usage. For example, in May 2024, the Department for Transport, a ministerial department in the UK, reported that in 2023, vehicles covered a distance of 330.8 billion miles on the roads in Great Britain, signifying a 2.2% increment from 2022. Thus, the increasing traffic gridlock is catalyzing the expansion of the self-driving public transit sector.

How Is The Autonomous Public Transit Market Segmented Across Key Categories?

The autonomous public transitmarket covered in this report is segmented –

1) By Vehicle Type: Autonomous Electric Buses, Autonomous Shuttles, Autonomous Taxis

2) By Component: Software, Hardware, Services

3) By Application: Industrial Transportation, Urban Transportation, Rural Transportation

Subsegments:

1) By Autonomous Electric Buses: Battery Electric Buses, Hydrogen Fuel Cell Buses, Plug-In Hybrid Autonomous Buses, Articulated Autonomous Buses, Mini Or Mid-Size Autonomous Buses

2) By Autonomous Shuttles: Low-Speed Campus Shuttles, First-Mile Or Last-Mile Shuttles, On-Demand Autonomous Shuttles, Fixed Route Autonomous Shuttles, Shared Autonomous Shuttles

3) By Autonomous Taxis: Sedan-Based Robotaxis, SUV-Based Robotaxis, Ride-Hailing Fleet Robotaxis, Premium Autonomous Taxis, Shared Autonomous Taxis

What Key Trends Are Driving Growth In The Autonomous Public Transit Market?

Leading entities in the autonomous public transit market are concentrating on developing cutting-edge concepts, such as Level 4 driverless vehicles, to push forward the incorporation of autonomous technology into public transport systems. A Level 4 autonomous vehicle can competently handle all driving tasks under specific conditions or within designated areas, with no need for human intervention. For example, in August 2024, Karsan, an autonomous vehicle production company based in Turkey, collaborated with ADASTEC Corporation, an autonomous driving technology firm in the USA, to introduce the Autonomous e-ATAK, a driverless bus service. This innovation – world’s premier Level-4 autonomous public vehicle – is operational on a pre-fixed 2.2-Kilometer journey in Arbon. The Autonomous e-ATAK employs high-tech sensor fusion technology, incorporating LiDAR, radar, and cameras, which are integrated with ADASTEC’s flowride.ai software platform. This facilitates secure navigation, real-time decision-making, and complete autonomy in intricate urban settings.

Who Are The Major Stakeholders Operating In The Autonomous Public Transit Market?

Major companies operating in the autonomous public transit market are Amazon.com Inc., AB Volvo, Continental AG, Scania CV AB, Transdev, MAN Truck & Bus, Keolis, Yutong Bus Co. Ltd., Arrival UK Ltd., Waymo LLC, Nuro Inc., Motional Inc., Karsan, EasyMile, Aurora Innovation, Pony AI Inc., May Mobility, AutoX Inc., LILEE System, Navya, Perrone Robotics Inc.

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How Do Regional Dynamics Influence The Autonomous Public Transit Market Performance?

Asia-Pacific was the largest region in the autonomous public transit market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous public transit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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