DUBLIN, April 18, 2023 /PRNewswire/ — The “Robo Taxis Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global robo taxis market grew from $1.73 billion in 2022 to $2.82 billion in 2023 at a compound annual growth rate (CAGR) of 63.2%. The robo taxis market is expected to grow to $17.84 billion in 2027 at a CAGR of 58.6%.
The robo-taxi market research report is one of a series of new reports that provides robo-taxi market statistics, including robo-taxi industry global market size, regional shares, competitors with a robo-taxi market share, detailed robo-taxi market segments, market trends and opportunities, and any further data you may need to thrive in the robo-taxi industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Technological advancement has emerged as the key trend gaining popularity in robo-taxis market. Major companies operating in the robo taxies sector are focused on developing technologically advanced products to strengthen their market position. For instance, in May 2021, Argo AI LLC, a US-based company operating in autonomous driving technology launched its new technologically advanced LiDAR sensor for autonomous vehicles working on Geiger-mode technology.
Geiger-mode technology works on single photodetection, which is highly sensitive to detect light as less as one photon and enhances the detection capability of the self-driving systems to detect darker objects which illuminated very less light where the detection of objects is not easy. Argo AI LiDAR sensor claims that it is capable of detecting objects distant at 400 meters with high-resolution photorealistic quality in low reflectivity.
In December 2020, Aurora Innovation Inc., a US-based company operating in self-driving vehicle technology acquired the Uber Advanced Technology Group for $4 billion. Through this acquisition, Aurora Innovation Inc aims to strengthen its product portfolio of self-driving vehicles for logistics by building safer and more accessible technology in self-driving, which would gain the leadership position in the autonomous or Robo-taxi market for goods transportation. Uber Advanced Technology Group is a US-based company operating in self-driving car businesses such as Robo-taxis.
Europe was the largest region in the robo taxis market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the robo taxis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing concerns about road safety are expected to propel the growth of the robo-taxis market going forward. Self-driving and autonomous vehicles are equipped with various advanced driving technologies such as front crash prevention system and rare crash prevention system, spotting different objects around them for smooth function of driving, which can reduce the significant number of road accidents due to driver behavior or driver errors and can provide the safe and economical solution for transportation.
For instance, in 2022, according to the U.S. Department of Transportation’s Fatality Analysis Reporting System (FARS), a US-based government agency, in the United States, approximately 35,766 fatal motor vehicle crashes occurred, resulting in around 11.7 deaths per 100,000 people.
Furthermore, in 2022, according to PolicyAdvice, a US-based car insurance company, Telsa, Inc., an American-based automotive company, claims that death caused by self-driving is very less compared to normally driven by approximately 1 fatality per 320 million miles driven. Therefore, the growing concerns about road safety are driving the growth of the robot-taxi market.
The robo-taxis market consists of sales of self-driven or driverless cars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A selection of companies mentioned in this report includes
- Waymo LLC
- AutoX
- Tesla Inc
- Baidu Inc
- General Motors
- Lyft Inc
- Nissan Motor Corporation
- NAVYA
- Ford Motor Company
- Mercedes-Benz Group AG
- BMW AG
- Volkswagen AG
- EasyMile SAS
- Ridecell Inc
- NVIDIA Corporation
- AB Volvo
- Continental AG
- ZF Friedrichshafen
- Robert Bosch GmbH
- Didi Chuxing Technology Co
Key Topics Covered:
1. Executive Summary
2. Robo Taxis Market Characteristics
3. Robo Taxis Market Trends And Strategies
4. Robo Taxis Market – Macro Economic Scenario
4.1 COVID-19 Impact On Robo Taxis Market
4.2 Ukraine-Russia War Impact On Robo Taxis Market
4.3 Impact Of High Inflation On Robo Taxis Market
5. Robo Taxis Market Size And Growth
5.1. Global Robo Taxis Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Robo Taxis Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Robo Taxis Market Segmentation
6.1. Global Robo Taxis Market, Segmentation By Component Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Camera
- Radar
- LiDAR
- Ultrasonic Sensors
- Other Component Type
6.2. Global Robo Taxis Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Car Rental
- Station Based
6.3. Global Robo Taxis Market, Segmentation By Propulsion, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Electric
- Battery
- Hybrid
6.4. Global Robo Taxis Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Goods Transportation
- Passenger Transportation
7. Robo Taxis Market Regional And Country Analysis
7.1. Global Robo Taxis Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Robo Taxis Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/mey1yr
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