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Global Pod Taxi Market is Expected to Grow at a CAGR of 18.30% Over the Forecast Period, Owing to the Increasing Demand for Efficient and Environment Friendly Modes of Transportation in Urban Locations, says Absolute Markets Insights
Absolute Markets Insights detailed analysis of its prolific knowledge storehouse titled; Pod Taxi Market has been published. Designed using singular techniques, with detailed employment of primary and secondary research methodologies, the data presented is particular and robust. The information, thus presented factors in the different dynamics of business that have been elaborated to get a comprehensive description of changing variables.

Urban locations in developing countries such as India and China are growing in number. The promotion of smart cities and business hubs is being done by government bodies in various countries. One major challenge related to the growth of urbanization is that of hassle-free transportation. Traffic congestion is being witnessed in developed and developing cities such as Beijing, Bangalore, Manila, Bangkok, amongst others. Intelligent transportation solutions that help in reducing congestion in these cities is receiving high investment from both private and public entities. One such solution is that of pod taxis. Also called as personal rapid transit (PRT) or pod cars, these transportation systems are being developed to facilitate swift movement of individuals in congested areas. They are usually built above busy roads, which helps in bypassing road traffic. In Masdar City, Abu Dhabi, a pod taxi system called as METRINO, which runs on CyberCab, is already operational. They are fully autonomous, and have been designed to operate without manual intervention. Pod taxis can carry around four to six people at a time, depending on the system design. They make use of renewable sources of energy such as solar power, which in turn helps in bringing down the pollution level in congested cities. Estimates suggest that the cost of running a pod taxi in terms of fuel cost would be around one tenth of an ordinary four-wheeled vehicle. Similar factors are encouraging transport utility agencies across countries to deploy POD taxis as effective mass-transit systems. Government bodies across countries are undertaking planned investments to enhance public transportation sector. The UAE Government for instance, in 2018 announced the launch of five national initiatives specifically focused on the development of innovative and smart transportation system in the country. Moreover, according to the “Dubai Self-Driving Transport Strategy”, the country plans to convert 25% of their overall transportation through autonomous transit by 2030. Therefore, higher demand for environment friendly transportation systems in urban facilities, coupled with focused investment initiatives by government bodies in the mass transit sector is promoting the growth of the global pod taxi market.

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The COVID-19 pandemic has impacted business investments around the globe. Public transportation has been affected, as the individuals are preferring to travel by personal vehicles to promote social distancing. However, pod taxis can help in preventing the spread of the Coronavirus without compromising on the comfort of the public. These systems can be fitted with advanced technology such as temperature tracking, which ensures that people with COVID-19 symptoms are traced and isolated. The details of the passengers can be stored in the systems, which would help in easier tracking. Furthermore, the pod taxis are also easier to sanitize. Government bodies are expected to promote deployment of pod taxis to provide an economical, safe and secure transportation solutions to the individuals. Hence, the COVID-19 pandemic is expected to have a positive impact on the global pod taxi market.

In terms of revenue, global pod taxi market was valued at US$ US$ 8.01 Bn in 2019 and is anticipated to grow at a CAGR of 18.30 % over the forecast period (2020 – 2028).

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The detailed research study provides qualitative and quantitative analysis of global pod taxi market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major region including North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• The ultra-personal rapid transit system is proving to be an innovative on-demand transport solution. With the ability to deliver passengers from point-to-point over a network particularly in urban environment, pod taxi are being eyed as a promising contender for the next generation transportation.

• North America accounted for the highest market share in the pod taxi market in 2019. This is attributed to the growing government initiatives towards smart transportation in countries such as the U.S. and Canada.

• Some of the players operating in the pod taxi market are Fairwood Group, Metrino-PRT, skyTran, Vectus Ltd. and www.2getthere.eu. amongst others.

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Global Pod Taxi Market:

• By Application

o City Centers
o Airports
o Business & Industrial Parks
o University Campus
o Shopping Centers
o Theme Parks & Resorts
o Large Hospitals Areas
o Others

• By Region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America

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This release was published on openPR.