Global Robo Taxi Market is valued approximately at USD XXX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2020-2027. In recent years, the personal mobility is undergoing a profound change that has led to changing customer preference towards mobility as a service (MaaS), which ultimately is paving a pathway to adopt Robo taxis around the world. A Robo taxi is a type of autonomous vehicle or self-driving taxi that is usually operated by ridesharing and on-demand mobility services. The emergence of Robo taxis is propelled by its advantages, such as enhancing fleet management and lowering the total cost of ownership. They can reduce the cost of ownership of a fleet operator by 30%-50% in comparison to the private-vehicle ownership, thereby making its higher adoption all over the world. Furthermore, surging initiatives to promote autonomous vehicles, rising demand for fuel-efficient emission-free vehicles, and rising technological developments and innovations in Robo taxis are the few factors responsible for the CAGR of the market during the forecast period. According to the International trade administration, around 13% of all the new vehicles registered in the United Kingdom would be autonomous by the end of the year 2025. Likewise, in 2016, the US Transportation Secretary announced that they will render the test and application of automated driving and give USD 4 billion support in the next 10 years. Thus, surging government initiatives to promote the adoption of the self-driven vehicle has led to a boost in the adoption of Robo taxis all over the world. However, the high research and development (R&D) cost for the implementation and cybersecurity threats are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Robo Taxi market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising penetration of autonomous technology in mass transit, along with increasing support of the federal government in revising transport regulations across the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in the number of vehicles on road aligned with the growing concern about environmental pollution in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
GM Cruise LLC
Uber Technologies Inc.
Ford Motor Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Robo Taxi Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers