Select Language
According to the latest report by IMARC Group, titled "Robo Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global robo taxi market size reached US$ 418.60 Million in 2020. Robo taxi is a self-driving autonomous automobile that requires minimal or no human intervention for driving. It includes the usage of mobility-as-a-service (MaaS) that is generally operated by on-demand mobility or e-taxi service providers. These services allow passengers to request a taxi through a smartphone application. As a result, they are safer, convenient and extremely cost-effective. These vehicles are also equipped with ultrasonic sensors, cameras, radio detection and ranging (RADAR), and light detection and ranging (LiDAR) systems. Their utilization also aids in improving vehicle management by preventing collisions and minimizing fatalities. Some of the commonly available robo taxis include electric, hybrid and fuel cell propulsion systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Robo Taxi Market Trends:
The global market is majorly driven by considerable growth in the automotive sector. There has been a significant increase in the demand for self-driving and autonomous vehicles across the globe, which is providing an impetus to the demand for robo taxis. Moreover, continual technological advancements across the automotive industry are also creating a positive outlook for the market. These vehicles are increasingly being equipped with innovative technologies to detect objects or obstacles in an efficient and precise manner while estimating the speed of nearby vehicles to ensure road safety and prevent mishaps. Furthermore, the growing environmental concerns among the masses and an enhanced focus on sustainable development are acting as major growth-inducing factors. Besides, the numerous government initiatives undertaken by several countries towards the development of smart cities is also favorably impacting the market growth. Some of the other factors contributing to the market growth include the inflating disposable income levels of individuals and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is expected to witness moderate growth during 2021-2026.
Market Summary:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com