Artificial Intelligence
Robo Taxi Market to Experience Dynamic Growth by 2027; Leading Companies Such as Waymo and Uber to Strategically Invest in the Burgeoning Autonomous Vehicle Technologies, Says Fortune Business Insights™
Pune, Nov. 05, 2020 (GLOBE NEWSWIRE) — The global robo taxi market size is set to expand at an impressive rate in the forthcoming years as autonomous have been proven to be significantly less polluting than regular vehicles, finds Fortune Business Insights™ in its report, titled “Robo Taxi Market Size, Share & Industry Analysis, By Propulsion Type (Fuel Cell, Hybrid, Electric), By Autonomy Level Type (Level 4, Level 5), By Application Type (Passenger Transportation, Goods Transportation) and Regional Forecast 2020-2027”. According to researchers at the Lawrence Berkley National Laboratory in California, emissions from self-driving taxis would be 63% to 82% lower than privately-owned hybrid cars and 90% lower than gasoline cars, based on their projections of gasoline prices and US vehicular emissions for 2030.
The research further states that even if just 5% of vehicles across the US were converted to robo taxis by 2030, annual CO2 emissions will be lowered by 2.4 million metric tons, and 7 million barrels of oil could be saved per year. Such findings are crucial to bolster the global movement towards sustainable development and robo taxis will play an instrumental role in facilitating this transition.
The COVID-19 pandemic has stymied economic activities, afflicting industries, and businesses around the world. Lockdowns and social distancing have stoked fears about an imminent economic recession, and have, in the process, disrupted supply chain networks, pushing down demand for goods and services globally. Governments are taking several efforts to mitigate the damage caused by this pandemic, but uncertainty continues to be prevalent.
However, collective strength and unity will help us tide over these hard times. At Fortune Business Insights, we are constantly striving to develop comprehensive research reports on various markets to equip your business with the necessary intelligence to emerge victorious on the other side of this crisis.
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List of Key Companies Profiled in the Robo Taxi Market Report:
- Ford Motor Company
- EasyMile
- Lyft Inc.
- Uber Technologies Inc.
- NAVYA Ridecell Inc.
- Daimler AG
- Waymo LLC
Key Market Driver
Promising Robo Taxi Deployment Plans to Animate Market Spirits
Prominent among the factors driving the robo taxi market growth is the announcement of plans to deploy self-driving taxis on public road by major companies and taxi services. For example, Uber partnered with Volvo and unveiled the Volvo XC90 SUV, Uber’s newest autonomous car, in June 2019, and the company is currently testing its self-driving vehicles in Pittsburgh.
Similarly, in 2018, Volvo introduced a fully-electric robo taxi called the 360c to meet the consumer demand for inter-city travel. Another interesting example is Aurora Innovation, a self-driving start-up based in the US, which has been expanding its testing operations across the state of Texas and has now added California and Pennsylvania as well. These innovations are receiving positive research support from academia as well as the industry.
For example, in June 2020, the Massachusetts Institute of Technology (MIT) and Toyota launched a novel dataset called DriveSeg to promote research in autonomous driving. DriveSeg consists of pixel-level depictions of common road objects in the form of a continuous video driving scene. Together, these developments are likely to aid the proliferation of robo taxis across the globe.
Highlights of the Report:
- Tangible analysis of the leading market drivers, trends, and restraints;
- Actionable research into the key market players and their strategies;
- Comprehensive assessment of all segments of the market; and
- In-depth examination of the regional opportunities and dynamics influencing the market.
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Regional Insights
Strong Commitment to Sustainable Mobility to Drive the Market in Europe
Leading economies of Europe such as Germany, the UK, France, and Italy are rapidly transforming their urban mobility infrastructure through the speedy adoption of advanced autonomous driving technologies. The European Union general has made strong commitments to establish sustainable mobility systems across the EU in the next decade, which is fueling the deployment of robo taxis in the region. Additionally, the presence of well-established automotive companies such as Daimler and Aptiv will further aid the region’s dominant position in the robo taxi market share in the foreseeable future.
Similar trends are expected to be witnessed in North America, where companies such as Tesla and Waymo are aggressively rolling out autonomous cars and electric vehicles as well as building efficient charging infrastructure in the region.
Key Points Covered:
- Business Opportunities
- Commerce Challenges
- Demand Insights
- CAGR Values
- Historic Analysis
- Detailed Segmentation
- Top Companies Data
- Market Size
- Supply Trend
- Target Audience
- Key Geographies
Competitive Landscape
Strategic Collaborations to Create Healthy Market Competition
Key players in this market are entering into strategic partnerships with different carmakers and taxi companies to capitalize on the changing dynamics of the taxi industry. This strategy is proving to be pivotal for market companies as they can deepen and widen their business horizons quickly and efficiently.
Industry Developments:
February 2020: Lyft and Aptiv announced that their partnership has led to the successful delivery of 100,000 robo taxi rides on a commercial scale in Las Vegas. The taxis are managed through Aptiv’s Command Center, where employees are given real-time data such as vehicle health, to keep vehicles on the road for long periods.
July 2019: US-based autonomous driving start-up AutoX announced a collaboration with NEVS, a Swedish electric vehicle maker, to deploy robo-taxis in Europe by the end of 2020. Under the partnership, AutoX will provide NEVS the necessary artificial intelligence tools to create AI drivers tailored to the specific geo-location they operate in.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/robo-taxi-market-103661
Have a Look at Related Research Insights:
Mobility as a Service Market Size, Share, and Industry Analysis, By Service Type (Ride-Hailing, Car Sharing, Taxi Services, Others). By Application Type (iOS, Android and Others), and Regional Forecast, 2019-2026
Motorized Quadricycle Market Size, Share & COVID-19 Impact Analysis, By Type (Light Quadricycle (L6e) and Heavy Quadricycle (L7e)), By Application Type (Household and Commercial), By Propulsion Type (Internal Combustion Engine and Electric) and Regional Forecasts, 2020-2027
Ride Sharing Market Size, Share & COVID-19 Impact Analysis, By Type (E-Hailing and Station Based), By Commute Type (Long Distance, Corporate, and Inter City), By Application Type (iOS, Android, and Others) and Regional Forecasts, 2019-2026
Commercial Vehicle Rental and Leasing Market Size, Share & Covid-19 Impact Analysis, By Rent Type (Business and Personal Use), By Vehicle Type (Car, Light Commercial Vehicle, and Medium/Heavy Commercial Vehicle), and Regional Forecasts, 2020-2027
Utility Truck Market Size, Share & Industry Analysis, By Truck Type (Garbage Truck, Fire Truck, Dump Truck, Sweeper Truck, and Others), By Engine Type (ICE and Electric) and Regional Forecast, 2019-2026
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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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Artificial Intelligence
XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform
CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.
XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence
ICIS and Base Oil News Announce Partnership to Enhance Market Insights
LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.
With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Artificial Intelligence
Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform
SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.
Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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