According to the report published by Allied Market Research, the global autonomous train technology market generated $5.88 billion in 2018, and is estimated to reach $15.56 billion by 2026, growing at a CAGR of 12.9% from 2019 to 2026. The report offers an extensive analysis of current market dynamics, key winning strategies, industry roadmap, major segments, and competitive landscape.
Increase in demand for cost-efficient & secure transport system and a decrease in accident cases and pollution drive the growth of the global autonomous train technology market. However, high charges for train automation and risk of hacking by cybercriminals hinder market growth. On the other hand, growth in railway infrastructure and rising preference of consumers towards train for transportation create new opportunities in the coming years.
Coronavirus Disease Pandemic Scenario:
- During the coronavirus pandemic, the autonomous train technology will be impacted negatively due to the restrictions on the travelling across the globe.
- The budget for development of railways has decreased by governments of most nations as these nations are focusing more on the healthcare sector.
- Moreover, research and development activities have been halted by manufacturers of autonomous vehicles industry during the active lockdown.
- The unemployment has been increased in this industry due to immobile manufacturing activities.
The report offers a detailed segmentation of the global autonomous train technology market based on grade of automation, application, technology, component, and region.
Based on grades of automation (GOAs), the GOA 2 segment contributed to the largest share in 2018, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the GOA 4 segment is expected to register the highest CAGR of 16.4% from 2019 to 2026.
Based on technology, the CBTC segment accounted for the largest share in 2018, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the ETRMS segment is estimated to portray the highest CAGR of 16.2% during the forecast period.