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.
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List of Key Companies Profiled in the Robo Taxi Market Report:
- Ford Motor Company
- 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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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
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.
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.
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