Posted 2/22/2024, 4:45:00 PM
Autonomous Train Market on Track to Reach $3.4 Billion by 2031, But Public Trust Still a Hurdle
- Global autonomous train technology market estimated to reach $3.4 billion by 2031, growing at a CAGR of 6.4%
- Overcoming public skepticism and gaining trust are crucial for adoption of the technology
- Leading players like Alstom, Bombardier, Siemens, CRRC, and Hitachi aim to leverage expertise to develop cutting-edge autonomous solutions
- GoA4 leads the market due to high automation level and enhanced safety capabilities
- North America and Europe drive adoption due to innovation, regulations, and infrastructure integration