The global alternate transportation technology market is anticipated to grow at a considerable CAGR of 10.3% during the forecast period (2022-2028). New transport technologies such as autonomous vehicles are increasingly gaining importance as an alternate transportation technology. An autonomous vehicle is a vehicle which exploits fully automated driving system so as to allow the vehicle to respond to external conditions that a human driver would handle. Autonomous vehicle technology is able to provide certain advantages compared to human-driven vehicles including increased safety on the road, decrease in the number of accidents and they are equipped with software which is likely to make fewer errors in comparison to humans. Continuous advancements in autonomous vehicles are displaying potential interest of costumers in advanced technology in near future.
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The advancement is also leading towards their use in public transit systems and not simply in personal use. For instance, In 2021, Walmart Inc. announced that it is teaming up with Ford Motor Co. and Argo AI to launch a driverless delivery service in three U.S. cities. Furthermore Walmart is also testing driverless delivery with General Motors Co.’s Cruise LLC, Alphabet Inc.’s Waymo, Nuro, and others. Moreover, In 2021, The National Park Service and the North Carolina Department of Transportation (NCDOT) launched the first autonomous vehicle to be tested at a recreational public lands site, CASSI that can ferry 12 passengers.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Transportation Mode
- By Fuel Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape-AECOM, Delft Hyperloop, Hyperloop Transportation Technologies, Space Exploration Technologies Corp, TRANSPOD, and others.
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Alternate Transportation Technology Market Report Segment
By Transportation Mode
- Air
- Road
- Rail
- Vacuum Tubes/ Pneumatic Pressure Tube
By Fuel Type
- Electricity
- Fuel Cells
By Application
- Freight / Carriage Vehicle
- Personal Vehicle
- Passenger Vehicle
Alternate Transportation Technology Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- AeroMobil
- AeroVironment, Inc.
- AUTEL ROBOTICS Co., Ltd.
- Baidu, Inc.
- Kespry Inc.
- Lockheed Martin Corporation
- OBAYASHI CORP.
- Parrot Drones S.A.S.
- Renault Group
- SZ DJI Technology Co., Ltd.
- Terrafugia
- Tesla Motors, Inc.
- ThothX, LLC
- Toyota (GB) PLC
- Virgin Hyperloop
- Waymo LLC
- Wisk Aero LLC.
- Yuneec International Co., Ltd.
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