Major players in the robo taxis market are 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, and Didi Chuxing Technology Co.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Robo Taxis Global Market Report 2022" - https://www.reportlinker.com/p06323471/?utm_source=GNW
The global robo-taxis market is expected to grow from $1.05 billion in 2021 to $1.71 billion in 2022 at a compound annual growth rate (CAGR) of 63.3%. The robo-taxis market is expected to grow to $11.01 billion in 2026 at a CAGR of 59.3%.
The robo-taxis market consists of sales of robo-taxi products by entities (organizations, sole traders, and partnerships) that are used for autonomous mobility on demand (AMoD) service.Robo-taxis are autonomous vehicles that are used for pickup and dropping off passengers or goods without the need for drivers, which can reduce the cost of transportation and make transport more affordable for day-to-day operations.
Robo-taxis are technologically advanced cars that use various advanced driver assistance technology such as front crash prevention system and rare crash prevention system, spotting different objects around them for smooth function of driving, lane departure prevention, and others that can drive safely.
The main types of components in robo-taxis are a camera, radar, Lidar, ultrasonic sensors, and others.The cameras are used to click images of their surrounding while driving to interpret the environmental details such as signboards, traffic lights, animals, and others for smooth driving and to avoid any type of road crash.
The various services include car rental, and stations based which have different propulsion types such as electric, battery, and hybrid. The numerous applications are goods transportation, and passenger transportation.
Europe was the largest region in the robo taxis market in 2021.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.
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.
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.
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.
The countries covered in the robo taxis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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