Thursday, August 22, 2024 The global autonomous trains market has been experiencing robust growth, and this trend is expected to continue. According to The Business Research Company, the market size increased from $9.79 billion in 2023 to $10.
54 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.7%. This expansion is driven by enhanced rail safety, increased budget allocations for railway expansion, reduced pollution and accidents, higher passenger capacity, and significant improvements in railway infrastructure.
Looking ahead, the autonomous trains market is projected to reach $14.62 billion by 2028, growing at a CAGR of 8.5%.
Key drivers of this growth include advancements in automation technology, ongoing global infrastructure projects, urbanization, population growth, and a heightened awareness of rising tailpipe emissions and the scarcity of trained drivers. During this period, the market is expected to see trends such as enhanced connectivity and communication, improved energy efficiency, interoperability, predictive maintenance, and the expansion of autonomous metro systems. For a detailed analysis of the global autonomous trains market, explore the full report here: Autonomous Trains Global Market Report 2024 The rising frequency of train accidents is expected to drive the demand for autonomous trains, which offer enhanced safety by preventing accidents caused by human error.
For instance, the National Safety Council reported 954 railway-related dea.
