Press release
Robo Taxis Market Analysis, Size, Share, Growth, Industry Trends And Forecast 2023-2032
Robo Taxis Market Report
The Business Research Company's Robo Taxis Global Market Report 2023 identifies the growing concerns about road safety as the major driver for the robo taxis market's growth in the forecast period. 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.
The global robo taxis market size grew from $1.73 billion in 2022 to $2.82 billion in 2023 at a compound annual growth rate (CAGR) of 63.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The robo taxis market size is expected to grow to $17.84 billion in 2027 at a CAGR of 58.6%.
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Major competitors in the robo taxis market are Waymo LLC, AutoX, Tesla Inc., Baidu Inc., General Motors.
A key trend in the robo taxis market includes technological advancement. 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.
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The robo taxis market is segmented -
•By Component Type: Camera, Radar, LiDAR, Ultrasonic Sensors, Other Component Types
•By Service Type: Car Rental, Station Based
•By Propulsion: Electric, Battery, Hybrid
•By Application: Goods Transportation, Passenger Transportation
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the robo taxis market.
The Business Research Company's "Global Robo Taxis Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Robo Taxis Market Include:
1. Executive Summary
2. Robo Taxis Market Characteristics
3. Robo Taxis Market Trends And Strategies
4. Robo Taxis Market - Macro Economic Scenario
5. Robo Taxis Market Size And Growth
……
26. Africa Robo Taxis Market
27. Robo Taxis Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Robo Taxis Market
29. Robo Taxis Market Future Outlook and Potential Analysis
30. Appendix
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