Autonomous Train Market Size

Autonomous Train Market Analysis

The Autonomous Train Market size is estimated at USD 9.25 billion in 2024, and is expected to reach USD 12.24 billion by 2029, growing at a CAGR of 5.78% during the forecast period (2024-2029).

• The COVID-19 pandemic adversely affected the railway industry. Major construction of railway projects was stopped due to the pandemic, which was likely to be a challenge for the autonomous train market. Due to the pandemic, personal transportation witnessed significant growth. However, with the rising concerns over emissions, the need for using public transportation and pooling was expected to help the train market grow.
• Growing electrification in the transportation sector is likely to provide major growth for the autonomous train market. Introduction to the Internet of Things (IoT) in transportation is a major driver for the autonomous train market. For instance, in October 2021, German Rail Corporation and Siemens Mobility developed the world's first train that operates by itself in rail traffic. The train is controlled by digital technology and is fully automated. The driver remains on the train to supervise the journey with passengers on board.
• Major governments across developed countries, including China, the United States, and Japan, are investing in connected mobility, which is likely to provide significant growth opportunities for the autonomous train market. Asia-Pacific and North America are likely to dominate the autonomous train market during the forecast period. Asia-Pacific has one of the largest rail networks in the world and is expected to show major growth in the autonomous train market.