Autonomous trains, also known as driverless trains, run without human interference and are controlled by a central control station. If a train encounters an obstruction along the route, a message is transmitted to the operational control center and to the train’s attendant, instructing them to stop the train. Autonomous trains run without the need for human assistance. Train automation allows for greater efficiency in all transportation-related processes.
According to a market report published by Bizwit Research & Consulting, LLP, the Global autonomous train market is valued at approximately USD 7533.4 Million in 2020 and is anticipated to grow with a healthy growth rate of nearly 5.31% over the forecast period 2021-2027.
The key factors driving the demand for the global autonomous train market during the forecasted period are rising traffic congestion around the world and growing pollution levels. However, high involvement of cost is likely to impede the market growth. In contrast, favorable government policies and rapid technological advancement would create a lucrative growth opportunity for the global autonomous train market for the forecasted period.
The autonomous train is getting more popular over road transportation due to the factors which include better capacity for potential passengers, fewer interruptions, safer from accidents, and being equipped with advance. Considering the rising traveling population rises safety concerns. According to the World Bank in 2018, the global railways transportation is rising rapidly In Australia, per km approximately 17,586 million passengers traveled, in the Czech Republic 10, 286 million passengers were traveling every km. and in Canada, about 1,598 million passengers traveled per km. Therefore, the rising population or traffic congestion worldwide provides the impetus for the growth of the autonomous train market.
Global Autonomous Train Market Size study, by Automation Grade (GoA 1, GoA 2, GoA 3, and GoA 4), By Application (Passenger and Freight), by Technology (CBTC, ERTMS, ATC, and PTC), and Regional Forecasts 2021-2027
The total market revenue is calculated based on revenue generated through the sales of Autonomous train technologies such as Signaling systems and more. However, repair and Maintenance services are excluded from the report. Major companies covered under the report are Alstom S.A., ABB Group, AZD Praha s.r.o, CRRC Transportation, General Electric, Hitachi Ltd., Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Siemens AG, Thales Group, and other famous regional players across various countries are also considered for revenue calculation.
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Bizwit Research & Consulting LLP