- January 2020 |
- Automotive & Transportation / Automotive
Global Autonomous Train Technology Market Size, By Type (Metro, Light Rail, and Bullet Train/HSR), By Level of Automation (GoA 1, GoA 2, GoA 3, and GoA 4), By Application (Passenger Train, and Freight Train), By Technology (Communication Based Train Control (CBTC), European Railway Traffic Management System (ETRMS), Automatic Train Control (ATC), Positive Train Control (PTC)), By Component (Camera, Accelerator, Odometer, Tachometer, Radio Set, and Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
Global Autonomous Train Technology Market Overview:
Autonomous trains, too known as driver less trains, are operated automatically without any human intervention. They are monitored from the control station. In case of any obstacle experienced in the route, a message is sent to the operational administration center and then to the attendant on the train, to stop the train. Owing to the increase in traffic congestion on the road networks, the need for smart and frequent trains is fueling the growth of the global autonomous train market.
Global Autonomous Train Technology Market Forecast and Trends
The global Autonomous Train Technology Market is anticipated to grow nearly at a CAGR of 5.1% to expected to reach $11.7 Billion by 2026. Due to the surge in demand for safety, security, reliable, affordable, and efficient transportation propelling the Autonomous Train Technology Market growth at a very high rate in the forecast horizon. The significant factors that are influencing the growth of the autonomous train include a surge in the allocation of budget for the development of railways, a rise in demand for secure, safer, and efficient transport; a decline in pollution & accidents; heightened passenger capacity & reliability.
The deployment of autonomous trains makes it convenient to add or remove the new train from the system without impacting the system and without waiting for train availability or staff availability. Thus, the availability of trains during off-peak and night hours is possible due to an increase in flexibility, which drives the adoption of the autonomous train technology market. Improvement in railway infrastructure, particularly in developing countries, and growth in freight transport through train is opportunistic for market expansion. All these factors are anticipated to have a definite impact on the autonomous train technology market during the forecast period.
Increase in budget allocation for the development of railways
The concept of the autonomous train is widely adopted by the developing as well as developed countries. The adoption of this technology is expensive, as this requires upgradations of several components like signaling technologies, monitoring, etc., the governments are continuously increasing the rail budgets to enhance the infrastructure.
Rise in demand for...