Autonomous monorail is a modern railway technology that runs on a single railway track. Several autonomous monorail run on elevated tracks and are completely automatic. In 1897, the term monorail originated from conjunction of "mono", which means one and "rail", by a German engineer Eugen Langen, who titled wagons suspended with elevated railway system the Einschieniges Hängebahnsystem Eugen Langen (Eugen Langen One-railed Suspension Tramway). Advancements in technology have led to the development of autonomous monorails that possess their own intelligence communication systems, which decide the movement of the monorail. For instance, where to halt, when to stop, and other barrier. 

Railways are widely considered as a safe, economical, and secure means of transportation owing to the less number of train fatalities, as compared to roadways. This is projected to boost the autonomous monorail market during the forecast period. Growing and urban areas require better, quick, comfortable, and safe means of transportation systems, especially for long journeys within these areas, as a large number of passengers commute to their workplace, colleges, universities, hospitals, and other places. This is projected to boost the autonomous monorail market during the forecast period. Furthermore, increased focus of the railway industry on enhanced passenger safety is a major factor that is expected to boost the autonomous monorail market during the forecast period. In 2018, in Yinchuan, the capital of China's Ningxia Hui region witnessed the incorporation of the "Yungui" system, a driverless monorail transit system, which was developed by BYD, a prominent new energy vehicle maker based in China and Huawei, the telecom giant. It keeps secure distance from other obstacle monitors passenger flow, and detects malfunctions automatically. This is projected to propel the autonomous monorail market during the forecast period. However, higher initial investment and complexity of modifying existing monorail are prime factors that are likely to hamper the autonomous monorail market during the forecast period. 

The autonomous monorail market can be segmented based on grade of automation, components, commuting distance, and geography. Based on grade of automation, the autonomous monorail market can be divided into GoA 1, GoA2, and others. The GoA 2 segment accounts for a prominent share of the market primarily due to the rising demand for comfort and safe means of transportation. 

In term of components, the autonomous monorail market can be segregated into RADAR module, LiDAR module, sensors, and others. The sensors segment dominates the autonomous monorail market due to advanced technology and ability of sensors to detect obstacles, objects and equipment malfunction. In addition, Smart sensors are utilized to directly monitor braking forces applied on autonomous monorail. This is anticipated to boost the sensor segment during the forecast period. 

Based on commuting distance, the autonomous monorail market can be bifurcated into intercity and intra-city. Among commuting distances, intra-city is a highly attractive segment of the market. This is due to the rising population in cities and towns, which in turn increases the number of passengers for monorail transportation. 

Based on geography, the autonomous monorail market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the global autonomous monorail market. Rise in adoption rate of railway transportation coupled with increased rate of train track laying and government support toward implementation of autonomous rail technologies are key factors driving the autonomous monorail market in Asia Pacific. Furthermore, rising usage of bullet trains in China and Japan, which utilize monorail technologies, is also anticipated to augment the autonomous monorail market in Asia pacific during the forecast period. 

Key players operating in the global autonomous monorail market include Hitachi Ltd., Thales Group, Bombardier Transportation, Alstom S.A., SIEMENS AG, Ansaldo STS, BYD Company Ltd. Toshiba Infrastructure Systems & Solutions Corporation., Aerobus International, Inc. Mitsubishi Electric., and CRRC Qingdao Sifang Co., Ltd.

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