Portland, OR, Nov. 17, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global autonomous bus door system market generated $3.9 million in 2019, and is estimated to reach $77.0 million by 2027, registering a CAGR of 43.8% from 2020 to 2027. The report offers an extensive analysis of changing market scenario, key segments, top impacting factors, and key market players positioning.
Improved safety coupled with the reduction in traffic congestion, availability of connected infrastructure, and increase in demand for fuel-efficient, high-performance, and low-emission vehicles drive the growth of the global autonomous bus door system market. However, high manufacturing cost may hinder the market growth. On the other hand, development of smart cities and supportive government regulations create new opportunities in the coming years.
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- The rate of unemployment has been increased in this industry due to difficulties faced by small companies in terms of funding.
- The manufacturing, supply, and maintenance activities of autonomous bus door have been stopped due to lockdown.
- Moreover, local travelling and tourism has been restricted across the globe during lockdown.