Dublin, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The "Robo Taxis Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
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%.
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.
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 at less than 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.
Scope
Markets Covered:
1) By Component Type: Camera; Radar; LiDAR; Ultrasonic Sensors; Other Component Types
2) By Service Type: Car Rental; Station Based
3) By Propulsion: Electric; Battery; Hybrid
4) By Application: Goods Transportation; Passenger Transportation
Key Topics Covered:
1. Executive Summary
2. Robo Taxis Market Characteristics
3. Robo Taxis Market Trends And Strategies
4. Impact Of COVID-19 On Robo Taxis
5. Robo Taxis Market Size And Growth
6. Robo Taxis Market Segmentation
7. Robo Taxis Market Regional And Country Analysis
8. Asia-Pacific Robo Taxis Market
9. China Robo Taxis Market
10. India Robo Taxis Market
11. Japan Robo Taxis Market
12. Australia Robo Taxis Market
13. Indonesia Robo Taxis Market
14. South Korea Robo Taxis Market
15. Western Europe Robo Taxis Market
16. UK Robo Taxis Market
17. Germany Robo Taxis Market
18. France Robo Taxis Market
19. Eastern Europe Robo Taxis Market
20. Russia Robo Taxis Market
21. North America Robo Taxis Market
22. USA Robo Taxis Market
23. South America Robo Taxis Market
24. Brazil Robo Taxis Market
25. Middle East Robo Taxis Market
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
Companies Mentioned
- 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
- Didi Chuxing Technology Co.
For more information about this report visit https://www.researchandmarkets.com/r/tk9ewm
