Self-Driving Bus Market to Reach $74.52 Bn, Globally, by 2026 at 40.5% CAGR, Says Allied Market Research

PORTLAND, Oregon, Dec. 13, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Self-Driving Bus Market by Level of Automation (Level 3, Level 4, and Level 5) and Component (Hardware, Software, and Services): Global Opportunity Analysis and Industry Forecast, 2020-2026". According to the report, the global self-driving bus market accounted for $6.81 billion in 2018, and is projected to reach $74.52 billion by 2026, registering a CAGR of 40.5% from 2010 to 2026.

https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Prime determinants for growing market

Decrease in traffic congestion due to improved safety and rise in connected infrastructure have boosted the growth of the global self-driving bus market. However, high manufacturing cost and challenges regarding data management hamper the market growth. On the contrary, development of smart cities is expected to create lucrative opportunities in the near future.

The level 3 segment to lead the trail till 2026-

Based on level of automation, the level 3 segment accounted for nearly 93% of the global self-driving bus market share in 2019 and is expected to retain its dominance through 2020-2026. The fact tha level 3 autonomous vehicles are capable of environment detection and can make informed decision drives the growth of the segment. On the other hand, the level 4 segment would cite the fastest CAGR of 62.0% by the end of 2026. This is due to level 4 vehicles can take control in case there is a systems failure.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6215

The hardware segment to maintain its top status during the estimated period

Based on component, the hardware segment contributed to more than two-fifths of the global self-driving bus market revenue in 2019 and is anticipated to rule the roost during the estimated period. As the cost of hardware components used for functioning self-driving buses are high making. At the same time, the services segment is expected to grow at the fastest CAGR of 46.5% by 2026. Services include training to operate the vehicle in proper way, the maintenance of vehicles to function well after the usage, and compliance with testing and design criteria required to launch a self-driving bus, which, in turn, makes it the fastest growing segment.

North America to dominate the market

Based on geography, the North America region held the largest share in 2019, generating more than two-fifths of the global self-driving bus market and is projected to maintain the lion's share during 2019-2026. This is due to launch of new range of self-driving bus services and government initiatives for development of driverless bus. Simultaneously, Europe is predicted to register the fastest CAGR of 44.8% throughout the forecast period. This is due to the investment by the government of various countries for development of self-driving buses and launch of driverless bus on the roads of the respective countries.

Get Up to 30% Discount- Enquire Now: https://www.alliedmarketresearch.com/purchase-enquiry/6215

*Offer Valid till 31-Dec-2019

Leading players in the market-

    --  Tesla
    --  Scania AB
    --  Daimler AG
    --  Proterra
    --  AV Volvo
    --  Continental AG
    --  Volkswagen AG
    --  AV Volvo
    --  Continental AG
    --  Volkswagen AG

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at:

https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Get Up to 30% Discount on All Published Reports:

Autonomous Vehicle Market Expected to Reach $54.23 Billion by 2026

Autonomous Train Technology Market Expected to Reach $15,568.6 Million by 2026

Pre-Book Now with 12% Discount:

Automated Guided Vehicle Market Application and Future Forecast by 2026

Automotive Actuator Market Application and Future Forecast by 2025

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

View original content:http://www.prnewswire.com/news-releases/self-driving-bus-market-to-reach-74-52-bn-globally-by-2026-at-40-5-cagr-says-allied-market-research-300974564.html

SOURCE Allied Market Research