Global Autonomous Shuttles Market 2024–2033

Autonomous Shuttles Market: Overview

An autonomous shuttle is a vehicle that travels automatically at lower than 50 mph over pre-mapped routes while being monitored remotely and operating in a constrained area. The autonomous shuttle is equipped with a number of capabilities that enable accurate positioning and navigation, including LiDAR, GPS, and radar for the shuttle’s safety features.

The system enables the vehicle shuttle to follow a predetermined route while safely avoiding any potential hazards. It transports people and delivers products. In any case, one of the enablers of the safety fallback system is always a remote operator. Depending on the Operational Design Domain (ODD) and the expected level of human interaction, autonomous shuttles are currently transitioning from being remotely piloted to remote assisted.

Additionally, the autonomous shuttles offer a desirable, adaptable way to transfer people across business campuses, metropolitan cores, or suburban neighborhoods, linking them to major mass transit networks and significantly enhancing public transportation. Currently, a large number of businesses are working to build several autonomous shuttle systems.

Autonomous Shuttles Market: COVID–19 Impact Analysis

Global economies have been significantly impacted by the COVID-19 pandemic. For several industries, COVID-19 has created a number of difficulties. Lockdown procedures induced by the coronavirus pandemic have severely disrupted commercial operations throughout the automobile sector.

Future mobility solutions like autonomous vehicles have been severely hampered by business strategies that stop investment and development in new technology in an effort to save costs. The effects of COVID-19 have been startling and unprecedented on a worldwide scale, and the epidemic has had a detrimental effect on demand for autonomous shuttles globally.

Autonomous Shuttles Market: Growth Drivers

The widespread use of Advance Drive Assist System (ADAS) accelerates the market’s growth

Most people are likely to prefer autonomous vehicles because they are less likely to need maintenance and fueling infrastructure, which is predicted to increase the market for automotive autonomous shuttles. The rise in maintenance and infrastructure levels for traditional vehicles is likely to be the cause.

The vast majority of automakers worldwide are attempting to include cutting-edge technology, such as the Advance Drive Assist System (ADAS), in their vehicles, which is anticipated to increase the need for autonomous shuttles globally. Through artificial intelligence and other cutting-edge capabilities, advanced driver assistance systems (ADAS) help drivers, preventing distractions and relieving strain on the driver.

The widespread use of ADAS in automobiles has been made possible by the quick acceptance of cutting-edge technology in software algorithms, sensors, cameras, computers, and maps. Additionally, as a result of growing worries about the safety and security of automobiles, their occupants, and pedestrians as well as efforts to lower the number of traffic deaths, automakers are putting ADAS in their vehicles, which is boosting the market for autonomous vehicles.

The global increase in awareness of road safety is accelerating the market demand

Since autonomous shuttles have an extremely high number of safety equipment incorporated into vehicles, including as air bags, anti-lock brake systems, and traction control systems, it is projected that a rise in road safety awareness would propel the market for autonomous shuttles.

The key driver propelling the worldwide market for autonomous shuttles is an increasing emphasis on traffic management and road safety. The world is most concerned about how important transportation safety is. Studies show that as autonomous vehicle are put through extensive testing and global safety standards are established to ensure safer navigation, they are more likely to strengthen than undermine road safety.

The main justification is that while human error is one of the major contributors to traffic accidents, self-driving vehicle can significantly reduce the risk of it happening.

Moreover, autonomous shuttles would take less time to park themselves, which is expected to increase demand for these vehicles globally.

The global transportation system is anticipated to change once autonomous vehicle technology becomes commercially available. To ensure the security of vehicle, passengers, and pedestrians, the governments of several nations have introduced strict safety regulations and are supporting automation in vehicles.

Autonomous Shuttles Market: Segmentation Analysis

The autonomous shuttles market is segmented into the vehicle type, and system. Based on vehicle type, the market for passenger vehicle segment is estimated to lead the market during forecast period. The largest portion of the worldwide market is held by the passenger vehicle category.

The main drivers of the strong rise in autonomous shuttles manufacturing throughout the world include growing urbanization, rapid demographic expansion, higher living standards, and rising purchasing power. Additionally, a significant amount is being spent by governments and organizations from different areas on the creation of cutting-edge features for vehicles. Automated vehicles are gaining significant traction due to the growing demand for automobiles with improved comfort, convenience, and safety features.

By system, the LiDAR technology segment is anticipated to dominate the market during the forecast period. The main parts of autonomous vehicles are sensors and cameras. Lidar serves as the eye for self-driving cars since it gives them a 360-degree picture of their surroundings and enables safe autonomous driving. Many autonomous vehicles utilize it to navigate their surroundings in real time.

One of its benefits is precise depth perception, which enables LiDAR to determine an object’s distance to within a few millimeters, up to 60 meters away. As a result, returning cars can traverse the terrain predictably, which is a huge advantage for the majority of self-driving technologies. It is also very well suited for 3D mapping.

Report Scope

Key Insights:

• Based on vehicle segmentation, the passenger vehicle segment is estimated to hold the largest market share during the forecast period.
• Based on system segmentation, the LiDAR technology segment is the dominating category during the forecast period.
• On the basis of geography/region, the North America region was the leading revenue generator in 2021.

Recent Development

• January 2022: In order to construct the future Autonomous Vehicle Failsafe System, Navya and Valeo collaborated to create a novel safety system for the commercialization of level 4 autonomous cars (AVFS).
• July 2021: To advance software development and move society closer to an autonomous future, KPIT Technologies joined the Autonomous Vehicle Computing Consortium (AVCC).

Regional Landscape

Throughout the projection period, North America is expected to continue to be among the most alluring markets and this region is accounted for the majority revenue share in the market.

This is because there are important firms in the area selling vehicles, such Nova Bus Inc., GILLIG LLC, New Flyer of America Inc., etc. In addition, these manufacturers and technology suppliers are increasing their R&D expenditures, which will boost regional growth in the ensuing years.

In the next years, the Asia-Pacific region is anticipated to expand at the highest rate and to control the market. The market is being stimulated by the region’s expanding use of autonomous shuttles. Additionally, the APAC market is anticipated to increase as a result of expanding government efforts and continuous investments in electric transportation.

Moreover, due to the existence of significant players in the global automotive sector, the Asia Pacific market size is predicted to grow by 20% by 2030. The market income is affected by elements including expanding urbanization and growing concerns to reduce pollution levels. Additionally, the region depends heavily on bus services, which is a significant component boosting industry statistics and the adoption of autonomous shuttles as a substitute.

Competitive Landscape

Our report offers both quantitative and qualitative insights into the WebRTC market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and recent developments of the players profiled.

List of the prominent players in the global autonomous shuttles market:

• EasyMile
• Cisco Systems
• Aptiv Inc.
• Robert Bosch GmbH
• Denso Corporation
• Tesla
• Hyundai Motor Company
• Volkswagen AG
• Delphi Inc.
• NAVYA
• Continental AG
• ZF Friedrichshafen
• Visteon
• Valeo
• Oxbotica
• Sensible 4
• Others

The global Autonomous Shuttles Market is segmented as follows:

By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By System

• Lidar
• Ultrasonic Sonic Sensor
• Artificial Intelligence
• Radar

By Region

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America