Robo taxi market accounted for US$ 0.45 billion in 2020 and is estimated to be US$ 45.4 billion by 2030 and is anticipated to register a CAGR of 59.2%. Robot taxis are self-driving taxis and vehicles that provide on-demand and ride-sharing transportation services without the need for human involvement. Since there is no space for human error when riding, the chances of crashing are nearly minimal. These self-driving taxis use a variety of cameras, RADAR, LiDAR, and other smooth operation sensors. They are often linked to a cell phone or tablet and have internet access, enabling them to regularly optimise their operations. These are self-driving cars with a level of autonomy of 4 or 5, which are used to provide a virtual taxi service. These are environmentally friendly, fuel-efficient vehicles that emit no harmful carbon dioxide.
The report “Global Robo Taxi Market, By Component (Camera, LIDAR, Radar And Ultra Sonic Sensors), By Type, (Hybrid Vehicles, Electric Vehicles And Fuel Cell), By Vehicle (Car And Shuttle/Van), By Application (Passenger Transport And Goods Transport) And By Region (North America, Europe, Asia Pacific, Latin America, And Middle East & Africa) - Market Trends, Analysis, And Forecast Till 2030”
Key Highlights:
· Hyundai announced on January 18th, 2021 that they are in talks with Apple to reduce high production costs in the creation of Apple's autonomous vehicle.
· In December 2020, Amazon Zoox debuted the first self-driving electric taxi, which is specifically designed for ride-hailing.
Analyst View:
The increase in demand for self-driving vehicles around the world as a result of vehicle automation is one of the major factors driving the robo-taxi industry's growth. The Robo-taxi market will start with electric-powered vehicles because the majority of advances are occurring in the field of electric vehicles. Companies are investing billions of dollars in Robo-taxis in order to expand autonomous driving, connectivity, electrification, and shared mobility, all of which would help the industry advance.
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Key Market Insights from the report:
The global Robo taxi market accounted for US$ 0.45 billion in 2020 and is estimated to be US$ 45.4 billion by 2030 and is anticipated to register a CAGR of 59.2%. The Global Robo Taxi Market is segmented based on the by component, type, vehicle, application, and region.
· By component, the Global Robo Taxi Market is segmented into camera, LIDAR, Radar and ultra sonic sensors.
· By type, the Global Robo Taxi market is segmented into hybrid vehicles, electric vehicles and fuel cell.
· By Vehicle, the Global Robo Taxi market is segmented into Car and Shuttle/van.
· By Application, the Global Robo Taxi Market is segmented into passenger transport and goods transport.
· By region, the Global Robo Taxi Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players operating in the global Robo Taxi market includes Tesla Inc., GM Cruise LLC., Ridecell, Waymo LLC, Aptiv, Uber technologies, Volkswagen AG, Daimler AG, Lyft Inc., Baidu, Didi chuxing, Amazon, TOYOTA MOTOR CORPORATION, Continental AG, DENSO CORPORATION and Others. In the global robo taxi industry, Tesla Inc. is a major player. The organizations is concentrating on the deployment of a variety of advanced batteries and electric vehicles.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
