According to a Zion Market Research analysis, the worldwide Global Robo-Taxi Market is expected to increase double digits by 2025. Zion Market Research. The global market for ride-hailing services has grown as people’s awareness of issues like pollution and traffic safety has risen. As a fleet operator, you can save money by using self-driving cars. Mobility as a service” may be one of the more profitable and long-term sources of revenue in the near future.
In last week of January 2020, Cruise LLC, an autonomous vehicle unit of General Motors Company, launched an autonomous all-electric ride-sharing shuttle built in conjunction with Honda Motor. The autonomous driverless vehicle dubbed as Origin is likely to be developed at the GM’s Detroit-Hamtramck factory in the U.S. Moreover, the launch of the driverless car is a part of the rehabilitation effort at the unit and GE has pledged to spend USD 2.2 billion for building the electric & self-driven vehicles (Global Robo-Taxi Market) at the factory unit.
In January 2020, Waymo, the self-driving unit of Google’s parent business Alphabet, collaborated with UPS, a shipping & logistics firm based in the U.S., for testing of its autonomous delivery cars. Reportedly, Waymo’s autonomous vans referred as Chrysler Pacifica minivans will deliver packed from the UPS store sites in Metro Phoenix to a UPS sorting unit at Tempe, Arizona in the U.S. for processing purpose.
Moreover, the European market is likely to have huge growth potential and is predicted to majorly impact the overall market revenue share over the forecast period. The growth is attributed to the presence of key players in the region along with easy availability of robust electric charging infrastructure facility in the region. Introduction of new models of electric vehicles by the firms like Tesla along with supportive government policies in Europe will boost the regional Global Robo-Taxi Market market growth.
Aptiv, Waymo LLC, Ridecell, Inc., GM Cruise, NAVYA, EasyMile, and Uber Technologies Inc. are the leading contenders in the worldwide robo-taxi market. These companies have well-established international distribution networks. In addition, these companies offer a wide range of services to the business. New collaborations, product developments, and agreements and contracts are among the principal measures taken by these companies to preserve their Global Robo-Taxi Market status.
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In the coming years, the automotive industry is expected to grow at the fastest pace and with the largest market share.
Self-driving car operators and manufacturers are pouring money into research and development. Shuttles, vans, and vehicles are all currently undergoing testing and development. However, according to Zion Market Research, the driverless car sector will take over the worldwide market because of the rise in ride-sharing services. Autonomous fleets are being developed by Tier 1 companies like as Lyft and Baidu, as well as smaller companies such as Uber and DiDi. Uber, for example, planned to buy 24,000 Volvo self-driving cars in 2017. To develop its self-driving cars, Lyft teamed up with Aptiv Plc in 2018. In 2018, Lyft’s ride-hailing service completed 5,000 successful rides. All of these improvements will have a positive impact on the automobile market.
By 2025, electric propulsion is expected to account for the majority of the market.
Fuel-efficient vehicles have become increasingly popular as a result of environmental concerns. It’s possible that robo-taxis will not only benefit people but also usher in a new era of carbon-free emissions and fuel efficiency. Self-driving cars in the mid-size luxury segment are expected to be launched by Uber and Volvo in the near future. Almost a third of the world’s population could be found in urban areas by 2030. Germany’s Daimler and Bosch are working together to develop self-driving electric vehicles that might be on the road in the next few years.
In the coming years, Europe is expected to undergo a major transformation.
Nations like France, Germany, the Netherlands, and Norway are predicted to dominate Europe. The fleet markers have been able to deploy and test more easily in this area because to technological advancements and built infrastructure. According to the European Commission, the automotive industry employs about 180 people in the EU and funds the greatest R&D. Europe is expected to see a rise in the use of electric vehicles (EVs) as their costs continue to fall due to improved EV ranges and more reasonable economical batteries. As a result of government assistance, the European charging infrastructure is expected to become increasingly prevalent. Electric vehicle adoption is only getting started in Europe. Increased self-driving automobile use will result from this.
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