Robo Taxi Market to Hit US$ 11,000 Million (CAGR of 61%) During 2023-2028
BROOKLYN, NEW YORK CITY, UNITED STATES, June 27, 2023/EINPresswire.com/ — According to the latest report by IMARC Group, titled “Robo Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global robo taxi market size reached US$ 600 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 11,000 Million by 2028, exhibiting a growth rate (CAGR) of 61% during 2023-2028.
Robo Taxi Market Overview:
A robo taxi is an autonomous vehicle designed to provide on-demand transportation services to passengers without the need for a human driver. It is equipped with a range of sensors, such as cameras, lidar, radar, and GPS, which allow them to perceive their surroundings, detect obstacles, and make informed decisions on the road. It includes the usage of mobility-as-a-service (MaaS), which is operated through on-demand mobility or e-taxi service providers. It allows passengers to request a taxi through a smartphone application. It also utilizes advanced robotics, artificial intelligence, and sensor technologies to navigate and transport passengers safely and efficiently. It is a convenient, cost-effective, and eco-friendly alternative to traditional taxis and private car ownership as it can help reduce traffic congestion, decrease emissions, and improve mobility for individuals who are unable or prefer not to drive themselves.
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Global Robo Taxi Market Trends Analysis:
Significant growth in the automotive industry is driving the global market. Moreover, the rise of ride-sharing platforms and the growing popularity of mobility services is catalyzing the demand for convenient and on-demand transportation. Besides, growing environmental concerns is fuelling the market as robo taxis assist in reducing greenhouse gas emissions, promoting cleaner air quality, and addressing environmental concerns. In line with this, continuous advancements in autonomous driving technology, including sensors, AI algorithms, and mapping systems, are enhancing the capabilities of robo taxis, thus providing a boost to the market. Apart from this, the increasing demand for self-driving and autonomous vehicles is creating a positive market outlook. Other factors, including extensive research and development (R&D) activities conducted by key players and inflating disposable income levels of the masses, are also influencing the market.
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Key Market Segmentation:
Top Companies in Robo Taxi Industry Worldwide:
• Aptiv plc
• Continental AG
• Daimler AG
• Ford Motor Company
• NAVYA
• NVIDIA Corporation
• Ridecell Inc
• Waymo LLC (Alphabet Inc.)
Breakup by Application:
• Goods
• Passenger
Breakup by Level of Autonomy:
• Level 4
• Level 5
Breakup by Vehicle:
• Car
• Shuttle/Van
Breakup by Service:
• Rental
• Station-based
Breakup by Propulsion:
• Electric
• Hybrid
• Fuel Cell
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
About Us:
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Elena Anderson
IMARC Services Private Limited
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