Robo-Taxi Market Expected to Grow at a CAGR of 124.6% during the Forecast Period 2019-2025

NOIDA, India - Oct. 24, 2019 - PRLog -- Robo-Taxi market crossed 1,600 units mark in 2018 and is expected to grow at a CAGR of 124.6% during the forecast period 2019-2025. In a pioneering leap into the future, Robo-taxi is basically a self-driving or a driverless car which was launched recently in the market. After years of focused and intensive testing in the autonomous vehicles (SAE Level 4 or Level 5), today the companies have started to roll out such vehicles for e-hailing (on-demand mobility) service for regular commuters. The Robo-taxi generally eliminates the need of a human chauffeur, which costs a significant part of the operating costs. The Robo-taxi service could make shared mobility much more affordable to the commuters and is expected to boost the demand of Transportation-as-a-Service (TaaS) solutions, which will drive the growth of the Robo-taxi market over the analysed period.

One of the most significantly adopted applications of the Robo-taxi include Autonomous Mobility on Demand (AMoD) service, especially in the metro regions. Autonomous Mobility on Demand (AMoD) is the solution that will drive the revolution towards self-driving cars. The AMoD is a technology comprising hardware, software, vehicle and its surrounding data that will improve the safety and economics of the ride.

Across the globe, governments and market players are currently focusing on promoting autonomous vehicles in the public transportation and fleets, with emphasis on taxis, vans and shuttles. One of the biggest hurdles in the growth of Robo-Taxi market globally is the dearth of required infrastructure. With increasing government support, several stakeholders are investing huge money in developing the required vehicle-to-infrastructure (V2I) systems, such as sensors in roads or street signs that send signals to AVs, helping autonomous vehicles navigate city streets seamlessly. Further, development on V2I technology such as dedicated short-range communications (DSRC) and cellular vehicle-to-everything (C-V2X) systems is in progress, which would further help autonomous vehicle such as Robo-taxi to widen its adoption in major developed and developing regions.

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