Robo-taxis or self-driving taxis are a type of autonomous vehicles using a mobility service on demand. These are the self-driving vehicles which require no human intervention in the vehicle’s activity. This requires a safer and more effective vehicle propulsion system.
The increasing trend of autonomous vehicles across the globe has supplemented the growth of robo-taxi thereby fueling the robo-taxi market during the forecast period.
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Also with the introduction of robo-taxis, the human involvement to drive the vehicle will be reduced to a much larger extent as well as increasing the passenger capacity,which boosts the robo-taxi market.
Different governments have made investments in their area for the production and deployment of robotic taxis, which complement market growth. Also various companies such as WAYMO, Tesla, General Motors and others have performed various robo-taxi-related developments and innovations that boost the growth of the robo-taxi market during the forecast period.
The factors such as demand for fuel-efficient and emission-free vehicles and need for better road safety and traffic control are driving the growth of the market. However, high R&D cost for implementation and cybersecurity threats is expected to hamper the growth of the robo-taxi market. Further, government regulations and development of smart cities are expected to create numerous opportunities for the expansion of the market.
The List of companies covered in this Reports are:
Waymo LLC (subsidiary of Alphabet Inc.)
Cruise LLC (subsidiary of General Motor Company)
Nissan Motor Corporation
Ford Motor Company
Volkswagen AG and Volvo Group.