Robo-Taxi Market: Anticipated To Grow At An Exponential Rate In The Near Future

Industry Insights Technology

Transparency Market Research has published a new report on the robo-taxi market for the forecast period of 2019–2030. According to the report, the global robo-taxi market is projected to reach a value of ~US$ 15 Bn by 2030, expanding at a CAGR of ~58% during the forecast period of 2019 to 2030.

Global Robo-Taxi Market: Overview

  • According to the report, the global robo-taxi market is likely to be driven by the demand for reduction in the total cost of ownership by ride-hailing companies.
  • The emergence of new business models, such as ‘mobility as a service’, are offering significant opportunities to automakers instead of one-time vehicle sales. Automakers are trying to introduce autonomous vehicles in taxi services to improve consumer service, offer ride-service at lower costs, and lower the operating cost of the service.
  • Key players such as Uber Inc., Waymo, Baidu, and Easy Mile are successfully conducting pilot projects on robo-taxis, and are expected to lead the global robo-taxi market.

To Get a Bird’s Eye View of Robo-Taxi Market Forecast, Ask for a Custom Report

Expansion of Global Robo-Taxi Market

  • Robo-taxis reduce the cost of ownership of a fleet operator by 30% to 50%. Radical shift from private ownership of vehicles to shared mobility has evolved the mobility industry, making it imperative for ride-hailing companies to offer services at competitive costs.
  • The robo-taxi market is at the development stage, with expansion likely to occur post 2025.
  • The U.S. and China have favorable regulatory frameworks to test autonomous vehicles. Several pilot projects are being carried out in these countries, and are expected to lead the global robo-taxi market.

Avatar
Edward Turner

Edward has his fingers firmly placed on the pulse of the business world. He has a keen eye for any new development that could rock our world. He is adept at strategizing to boost web traffic and generate new leads. He is also an expert in Google Analytics, something which he feels could go a long way in getting sites more traction by providing necessary insights.

Leave a Reply