The increasing demand for a safe, secure, and efficient mode of transportation is expected to drive the autonomous train market.
According to a recent report, the autonomous train market, in terms of volume, is projected to grow at a CAGR of 4.87% from 2018 to 2030. The market is estimated to be 60,078 units in 2018 and is projected to reach 106,290 units by 2030. Market growth can be attributed to the need for a safe, efficient, and reliable mode of transportation. In addition, the need to reduce accidents caused by human error is leading to the growth of the autonomous train market. Increased safety and service benefits for passengers and increased budget allocations for the development of railways are also driving the growth of the autonomous train market. However, the lack of developed infrastructure can hamper the growth of the autonomous train market.
Increasing number of metro rail projects to drive the autonomous train market.
Several developing countries have initiated projects for the development of autonomous train metro networks, which is expected to propel the growth of the transportation sector.Countries such as China, India, South Korea, US, UK, Mexico, Brazil, and South Africa plan to revolutionize their metro rail networks with the introduction of driverless trains.
This is expected to boost the market for autonomous train globally.
GOA 4 automation is expected to be the fastest growing segment in the autonomous train market globally.
The growth of the GOA 4 segment is driven by various ongoing projects in rail infrastructure development, increased spending on transportation and infrastructure development, and an increase in safety and security of trains and passengers. Technological developments and high adoption of the metro/monorail have led to significant changes in the adoption of the levels of automation, from GOA 1 to GOA 4.
Asia Pacific to be the fastest growing region in the autonomous train market globally.
The Asia Pacific is the fastest-growing region in the global autonomous train market. The market growth in the region can be attributed to the development of infrastructure, increase in government spending on the transportation sector, and ongoing/upcoming projects in various countries of this region.