Market drivers include workforce reductions, safety benefits, cost savings and accessibility
BOULDER, Colo., May 16, 2024 /PRNewswire/ — A new report from Guidehouse Insights explores the global market for automation in rubber-tire on-road transit operations.
Vehicle automation has been a lofty goal for decades, and the subject of intense investment and research by developers who want to make this futuristic technology commonplace. Now, in the light duty vehicle (LDV) market, fully driverless vehicles are beginning to emerge in certain cities and markets. According to a new report from Guidehouse Insights, the automated public transit market is expected to expand from 315 vehicles sold worldwide in 2024 to 11,518 vehicles sold in 2033, representing a compound annual growth rate (CAGR) of 49.1%.
“While automated public transit is still in the nascent stages of market development, it is expected to see significant growth over the next decade,” says Jake Foose, research analyst with Guidehouse Insights. “Automated public transit offers many of the advantages of LDV automation along with a few significant additional benefits.”
The often more limited operational design domain (ODD) of transit means fewer exceptions to interrupt the vehicle. Transit vehicles also typically follow lower speed routes, potentially reducing harm in the event of a crash, especially where smaller, shuttle-type buses are used. Additionally, automation has the potential to solve many of the staffing issues transit agencies currently face in the wake of the COVID-19 pandemic, allowing drivers to be trained more to focus on passengers’ riding experience and serve higher density routes.
Transit also poses new challenges in deploying automation technology. Transit operations are usually governed by additional rules and regulations compared with private drivers on the road. In addition, transit operations are substantial undertakings, and adding an automated vehicle to the mix is not a simple process, involving upfront costs as well as significant logistic issues, according to the report.
The report, Automated Public Transit, provides automated public transit market analyses, a deep dive into the drivers and barriers to adoption, and an industry value chain analysis. It provides sales and revenue estimates for transit automation segmented into the two main vehicle sizes for the 10-year period from 2024-2033. These analyses are further segmented by region and use case. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 16,000 professionals in over 55 locations globally. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Automated Public Transit, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
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SOURCE Guidehouse Insights
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