Pune, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The global autonomous bus door system market size is expected to showcase significant growth by reaching USD 288.0 million by 2027. This growth is attributable to the rising number of smart city projects and the increasing adoption of advanced driver assistance systems (ADAS) that favors the development of advanced autonomous bus door system globally. Fortune Business Insights, in its latest report, titled, “Autonomous Bus Door System Market Size, Share & COVID-19 Impact Analysis, By Bus Type (Shuttle Bus, Articulated Bus, City Bus, BRT Bus), By Door Type (Conventional, Folding, Sliding Plug, Inward Gliding), By Operation (Pneumatic, Electric), By Propulsion Type (Internal Combustion Engine, Electric), and Regional Forecast, 2020-2027.” observes that the market stood at USD 184.0 million in 2019 and is projected to exhibit a CAGR of 12.0% between 2020 and 2027.
Halted Transportation Services amid COVID-19 to Lead to Sluggish Market Growth
The novel coronavirus has led to unprecedented economic loss owing to halted industrial operations. The total halt in the transportation services has led to major disruptions in logistics and supply chain. Additionally, this is expected to negatively impact the adoption of autonomous bus door systems across the automotive industry. However, the increasing government support by framing supportive policy to allow the automotive sector to return to normalcy is expected to bode well for market growth in the near future.
The automotive industry is experiencing massive growth backed by the introduction of advanced connectivity and automation technology. In the past, the operation of bus doors was manual, however, with the advancement in technology, today's autonomy has gained significance. The growing adoption of these bus door systems that are equipped with sensors is finding favor across several automobiles in the world.
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List of the Leading Companies Profiled in the Global Autonomous Bus Door System Market are:
- Vapor Bus International (Illinois, US)
- Ventura Systems CV (Bolsward, Netherlands)
- IVY MACHINERY (NANJING) CO., LTD. (Nanjing, China)
- Tesla (California, US)
- Caterpillar (Illinois, US)
- AB Volvo (Gothenburg, Sweden)
- Daimler AG (Stuttgart, Germany)
- Continental AG (Hanover, Germany)
- Robert Bosch GmbH (Stuttgart, Germany)
- Circle Bus Door Systems Co. Ltd (Nanjing, China)
- Transport Door Solutions (Essex, United Kingdom)
- Ebusco (Deurne, Netherlands)
What does the Report Include?
The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Rising Smart City Projects to Augment Growth
Rapid-paced industrialization has paved the way for several development activities across the globe. In order to reduce traffic congestion and further enhance transportation services, governments across the globe are focusing on introducing advanced connected infrastructure technology. In addition to this, the development of smart city projects is expected to bode well for the adoption of autonomous bus door systems owing to the growing demand for electric vehicles. The manufacturers are further developing advanced driver assistance systems (ADAS) with the help of modern technologies such as artificial intelligence (AI) to assist drivers that will drive the global market during the forecast period.
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SEGMENTATION
BRT Bus Segment Held 34.9% Market Share in 2019
The BRT bus segment, based on the bus type, held a market share of about 34.9% in 2019 and is expected to experience significant growth owing to the growing demand for a safe and reliable mobility solution.
REGIONAL INSIGHTS
Stringent Emission Norms in Europe to Aid Growth
Among all the regions, Europe is expected to remain at the forefront and hold the highest position in the global autonomous bus door system market during the forecast period. This is attributable to the imposition of stringent emission norms that propels the demand for electric vehicles. The region stood at USD 10.0 million in 2019.
On the other hand, the market in Asia-Pacific is expected to hold the second position in the market. This is ascribable to factors such as the increasing cases of road accidents that are propelling the manufacturers to introduce safe and reliable automotive features such as the autonomous bus door system to promote better mobility solutions between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Investment in R&D Activities to Develop Advanced Systems
The global autonomous bus door system market comprises major players that are focusing on investing in R&D activities to develop advanced autonomous bus door systems. These companies are further trying to maintain their market stronghold by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market in the forthcoming years.
Industry Development:
July 2020 – Shuttle operator Keolis Downer launched the trial of its first driverless shuttle that hit the roads of Newcastle, Australia. The shuttle is equipped with sensors and 360-degree cameras that aid in avoiding collision with other cars and objects.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Autonomous Bus Door System Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Propulsion Type
- IC Engine
- Electric
- Market Analysis, Insights and Forecast – By Bus Type
- Shuttle Bus
- Articulated Bus
- City Bus
- BRT Bus
- Market Analysis, Insights and Forecast – By Door Type
- Conventional
- Folding
- Sliding Plug
- Others
- Market Analysis, Insights and Forecast – By Operation Type
- Pneumatic Operated
- Electric Operated
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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