Experiencing gradual growth and slow adoption, the autonomous buses and roboshuttles global market may cross $67 billion after the next twenty years with a steady CAGR.
The global market revenue for roboshuttles and autonomous buses will exceed 67 billion dollars, reaching nearly half a million sales annually by 2044. A recent report from IDTechEx, studying data from 2019 to 2023, supports these projections.
According to data on units and sales revenue in the United States, China, and Europe, the market for roboshuttles, sensors, transport as a service, autonomous buses, and electric buses is projected to grow over two decades at a compound annual growth rate (CAGR) of 38.9%.
The roboshuttles market has undergone significant changes, with the number of players decreasing from 2020 to 2024 due to the typical shift from innovation to commercial viability.
According to the report, despite fewer participants, 2023 was an active year for the industry. A Japanese firm acquired and rebranded the European company Navya, while Toyota and Cruise exited. Meanwhile, Asian companies like WeRide, QCraft, and PIX Moving continue to grow, highlighting the industry’s dynamic evolution.
IDTechEx further noted that the slow progress in autonomous buses is due to limited commercial scenarios, regulatory hurdles, and inadequate infrastructure.
The absence of global regulations and the complex operating environments further hinder widespread adoption of these upcoming technologies, leading many companies to focus on testing in controlled settings.
Urban public transportation faces challenges from an ageing workforce, rapid urban development, and evolving infrastructure needs. Autonomous buses and roboshuttles could address these issues by reducing labour costs, improving safety, and expanding service to underserved areas.
