Global Autonomous Trains Market Opportunities And Strategies
The global autonomous trains market is expected to decline from $8.33 billion in 2019 to $7.32 billion in 2020 at a rate of -12.16%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The market is then expected to recover and reach $9.69 billion in 2023 at a rate of 9.8%. Increased safety and cheaper fares compared to other transport drives the autonomous train market. However, high deployment and operational costs along with increased security concerns is expected to limit the growth of autonomous train market.
Autonomous trains are designed with high powered cameras, latest sensors, GPS data, and onboard computer systems. The data is collected from sensors and monitored at control rooms which enables the autonomous system to make an informed decision. Autonomous trains can run more frequently and achieve higher speeds, enables managers to increase the number of trains in operation on a route instead of having to make the significant expense of building new tracks. The market consists of revenue generated by companies manufacturing automatic trains by the sales of these products.
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The global autonomous trains market is further segmented based on type and geography.
By Train Type: Suburban trains; Tram; Monorail; Subway/Metro; Long Distance Trains
By Technology: Automatic Train Control (ATC); Communication-Based Train Control (CBTC); European Railway Traffic Management System (ERTMS); Positive Train Control (PTC)
By Grade of Automation: GOA1; GOA2; GOA3; GOA4
By Application: Passenger Train; Freight; Mining
By Geography: The global autonomous trains market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American autonomous trains market accounts for the largest share in the global autonomous trains market.
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Trends In The Autonomous Trains Market
LiDAR and artificial intelligence are increasingly being used in autonomous trains to improve the performance of the trains. LiDAR (Light Detection and Ranging) systems measure the speed of moving trains and captures irregularities of the track and evaluates its quality. Artificial Intelligence (AI) is expected to improve the performance of automated metro lines by enabling predictive maintenance which help to reduce the incidents and assist operators to recover from incidents more quickly.
Autonomous Trains Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides autonomous trains market overviews, analyzes and forecasts autonomous trains market size and growth for the global autonomous trains market, autonomous trains market share, autonomous trains market players, autonomous trains market size, autonomous trains market segments and geographies, autonomous trains market trends, autonomous trains market drivers and autonomous trains market restraints, autonomous trains market’s leading competitors’ revenues, profiles and market shares. The autonomous trains market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.