The Infinium Global Research analyzes the “Robo Taxi Market (Autonomy - Level 4, and Level 5; Fuel - Hybrid, Ice, and Fully Electric; Application - Public Transport, and Other Applications; Vehicle - Cars, and Shuttles): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". The global robo taxi market is projected to grow at a CAGR of 60.1% over the forecast period of 2019-2025.
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Robo Taxi Market: Insights
Robo taxi is a self-driving taxi. It eliminates the need for a human chauffeur. The growing trend of robo taxi stimulates better road safety. Infinium Global Research has recently published a report on the robo taxi market. The report provides in-depth information about the robo taxi market which is expected to grow at a CAGR of 60.1% over the forecast period of 2019-2025.
Robo Taxi Market: Drivers, Restraints, and Opportunities
The growing demand for ride-hailing services drives the growth of the robo taxi market. The increasing concern over road safety and vehicle emissions contribute to the growth of the robo taxi market. The surge in demand for fuel-efficient and emission-free vehicles stimulates the growth of the robo taxi market. The growing need for improved road safety and traffic control promotes the growth of the robo taxi market. Furthermore, rising infrastructure development and increasing the electrification of vehicles propel the growth of the robo taxi market. On the flip side, high research and development costs for implementation and cybersecurity threats hamper the growth of the robo taxi market. Moreover, rapidly growing urbanization creates novel opportunities for the growth of the robo taxi market.
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Robo Taxi Market: Segmentation
The global robo taxi market is segmented on the basis of autonomy, fuel, application, and vehicle. The autonomy segment includes level 4 and level 5. Based on fuel, the robo taxi market is divided into a hybrid, ICE, and fully electric. On the basis of application, the robo taxi market is classified into cars and shuttles. The vehicle segment consists of cars and shuttles. Cars expected to hold the largest share in the vehicle type segment of the robo taxi market owing to rising investments by the autonomous vehicle manufacturers in the development of self-driving vehicles.
Robo Taxi Market: Regional Insights
Geographically, the global robo taxi market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Europe is anticipated to hold a premium share in the global robo taxi market. The rising technological development and supportive infrastructure in Europe contribute to the growth of the robo taxi market in Europe. Asia-Pacific region is expected to grow in the global robo taxi market with a healthy CAGR over the forecast period. The surge in research and development on the robo taxi concept in developing countries in Asia-Pacific stimulates the growth of the robo taxi market in the Asia-Pacific region. North America is growing in the global robo taxi market.
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Robo Taxi Market: Competitive Landscape
The key players in the global robo taxi market are Waymo LLC, Tesla, Inc., Cruise LLC, Lyft, Inc., Nissan Motor Co., Ltd., Ford Motor Company, Volkswagen AG, Volvo AB, NAVYA, Aptiv PLC, and other companies. The global robo taxi market is moderately fragmented. Companies operating in the global robo taxi market are adopting strategies such as mergers, acquisitions, and new product launches that maximize their market share. The leading companies are investing in research and technological development to promote innovations in the robo taxi market.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the robo taxi.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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