Selbyville, Delaware, Aug. 22, 2023 (GLOBE NEWSWIRE) --
The autonomous train market is poised to exceed USD 15 billion by 2032, as reported in a research study by Global Market Insights Inc.
The need for improved operational efficiency and safety in the rail industry is driving the adoption of autonomous train technology. Autonomous technology can optimize train movements, reduce human error, and enhance overall system reliability. The advancements in artificial intelligence, machine learning, and sensor technologies have also enabled trains to operate autonomously and make real-time decisions based on data analysis. Market players in this space have been advancing their efforts toward integrating advanced communication and signaling systems.
For instance, in February 2023, Alstom and Bombardier announced a partnership to develop a new autonomous train system for use in Europe. The system will use a combination of advanced communication and signaling technologies to enable trains to operate safely and efficiently without needing human intervention. This apart, the growing emphasis on sustainability and reducing carbon emissions has increased interest in autonomous trains as they offer the potential for energy efficiency and minimizing environmental impact will further the market forward.
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The autonomous train market from the light rail segment will cross USD 5.5 billion by 2032, claims the report. Urban areas frequently use light rail trains as a sustainable and effective form of transportation. Cities can improve their public transport networks and give commuters convenient and dependable mobility options by incorporating autonomous technology into light rail trains. Autonomous light rail trains can run more frequently, more effectively, and with fewer delays, providing a viable substitute for personal vehicles and easing traffic congestion in urban areas, thus gaining increased traction.
Autonomous train market from the freight application segment was worth USD 3 billion in 2022. Given the significant potential for cost savings, safety enhancements, and scalability in freight transportation, the freight application segment is particularly compelling for autonomous trains. With the help of autonomous technology, goods operators can streamline their processes, satisfy rising demand, and improve the sustainability of the goods transportation sector, which will favor market growth in the long run.
Europe autonomous train market is projected to surpass USD 3.4 billion by 2032, as per the report. The need for greater efficiency, better safety, environmental sustainability, infrastructure compatibility, and a focus on modernization and innovation are driving the demand for autonomous trains in Europe. The European market offers a supportive environment for the adoption and deployment of autonomous train technology, which is another key factor supporting regional expansion.
Some of the leading companies operating in the autonomous train market are Alstom SA, ABB Ltd., Construcciones y Auxiliar de Ferrocarriles (CAF), Kawasaki Heavy Industries, American Equipment Company, Bombardier Transportation, Beijing Traffic Control Technology, CRCC Corporation Limited, Hitachi Rail STS, Ingeteam Corporation SA, General Electric, Mitsubishi Heavy Industries Ltd., Thales Group, Wabtec Corporation and Siemens AG.
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Autonomous Train Market News:
- In March 2023, Siemens Mobility announced that it had successfully tested an autonomous train on a commercial railway line in Germany. The train used a combination of sensors, cameras, and onboard computers to navigate the track and avoid obstacles.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Autonomous train market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Level of automation trends
2.5 Train type trends
2.6 Technology
2.7 Application trends
Chapter 3 Autonomous Train Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/collaboration
3.8.2 Merger/acquisition
3.8.3 Investment
3.8.4 Product launch/innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising government investment in railway infrastructure
3.10.1.2 Increasing demand for rapid urban transit
3.10.1.3 Rapid technology advancement in autonomous trains
3.10.1.4 Growing demand for energy efficient freight transportation
3.10.2 Industry pitfalls & challenges
3.10.2.1 Fluctuating raw material prices
3.10.2.2 Lack of advance infrastructure in Latin America and Middle East region
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
