Robo Taxi Market to Reach $38.61 Bn, Globally, by 2030 at 67.8% CAGR: Allied Market Research
- Rise in requirement for road safety and efficient traffic control along with demand for emission free & fuel-efficient vehicles drive the growth of the global robo taxi market
PORTLAND, Oregon, March 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Robo Taxi Market by Application (Goods Transportation and Passenger Transportation), Component (Camera, RADAR, LiDAR, Ultrasonic Sensor and Others), Propulsion (Electric Vehicles, Fuel Cell Vehicles, and Hybrid Vehicles) and Level of Automation (Level 4 (L4) and Level 5 (L5)): Global Opportunity Analysis and Industry Forecast, 2023–2030." According to the report, the global robo taxi market is estimated to contribute nearly $1.03 billion in 2023, and is expected to reach $38.61 billion by 2030, growing at a CAGR of 67.8% from 2023 to 2030.
Prime determinants of growth
Rise in requirement for road safety and efficient traffic control along with demand for emission free & fuel-efficient vehicles drive the growth of the global robo taxi market. However, cybersecurity threats and expensive R&D costs required for proper implementation hinder the market growth. Contrarily, supportive government policies and smart city development create new opportunities for the next decade.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6126
The goods transportation segment to maintain its leadership status by 2026
Based on application, the goods transportation segment is estimated to account for nearly three-fifths of the total share of the global robo taxi market in 2023, and is expected to maintain its leadership status during the forecast period. This is attributed to rise in demand for autonomous vehicles in goods transportation for preventing accidents from human errors. However, the passenger transportation segment is estimated to register the highest CAGR of 74.2% from 2023 to 2030.
The camera segment to possess its lead position by 2030
Based on component, the camera segment is estimated to account for the highest market share of the global robo taxi market, contributing to more than one-fourth of the total market share in 2023, and is expected to possess its lead position by 2030. This is due to need for enhanced and long-range camera for installation in vehicles for keeping track of the surrounding. However, the ultrasonic sensor segment is estimated to grow at the largest CAGR of 75.5% from 2023 to 2030, owing to its ability to measure accurate distance and avoid accidents.
North America to maintain its dominant position during the forecast period
Based on region, North America is estimated to account for the largest market share based on revenue, accounting for more than two-fifths of the global solar vehicle market in 2023, and is estimated to maintain its dominant position during the forecast period. This is due to wide adoption of latest technologies in the region, supported by continuous development. However, Europe is expected to portray the largest CAGR of 75.6% from 2023 to 2030, owing to continuous development activities carried out by auto manufacturers in the field of autonomous vehicles.
For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6126
Leading market players
- Waymo LLC (subsidiary of Alphabet Inc.)
- Cruise LLC (subsidiary of General Motor Company)
- Tesla, Nissan Motor Corporation
- Lyft, Inc.
- Uber Technologies
- Daimler AG
- Ford Motor Company
- Volkswagen AG
- Volvo Group
Avenue | The Market Research Library Access
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial
Similar Reports:
Air Taxi Market Will Reach $6.63 Billion by 2030, with Top Manufacturer
Solar Vehicle Market Consumption to Hit $4.08 Billion by 2030
Autonomous Vehicle Market Expected to Reach $54.23 Billion, by 2026
Hydrogen Fuel Cell Vehicle Market Expected to Reach $42,038.9 Million by 2026
Pre-book Offer 12% Discount:
New Energy Vehicle (NEV) Taxi Market
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
Allied Market Research Blog: blog.alliedmarketresearch.com
Share this article