The Global Robo Taxi Market was worth US$ 2.2 billion in 2022 and is anticipated to reach a valuation of US$ 78.26 billion by 2028 and is predicted to register a CAGR of 81.57% during 2023-2028.

The need for a human driver has diminished as a result of the development of automation in cars, which also lowers the likelihood of accidents brought on by human error. But a Robo-taxi is equipped with a variety of sensors, including RADAR, LiDAR, and others, which makes the vehicle effective to operate and ultimately leads to the growth of the Robo-taxi market throughout the world.

Major cities throughout the world are experiencing a surge in traffic congestion, which worsens pollution, negatively affects health, and lowers the general quality of life. There is a boom in demand for driverless cars, and interest in green or zero-emission cars is growing. In addition, three trends—zero-emission vehicles, autonomous driving, and new mobility models—are hastening transformational change in the automotive sector. All three of those trends are represented by autonomous, zero-emission Robo-taxis, which have the ability to provide convenient, individualized transportation as a lovely alternative to owning a car or taking public transportation.

Market Drivers and Restraints:

The market trends are expected to increase throughout the anticipated period as a result of rising worries about fuel emissions, safety-related issues on the roads, and the rising popularity of ride-sharing vehicles. Additionally, it is anticipated that self-driving cars will increase the value of fleet operators. This might support the market's growth in the ensuing years. In addition, new business models like "mobility as a service" may prove to be successful & reliable sources of income for the market in the years to come. However, it is anticipated that a paradigm shift in the automotive industry over the next few years would result from the disruptive force of those self-driving taxis. These new autonomous vehicles are also expected to improve shared transportation and facilitate vehicle connectivity. Additionally, these Robo-taxis will have electric drivetrains, which will lower the fleet authority's operational expenses.

It is anticipated that ride-hailing businesses would use robo-taxis, mostly to reduce operational expenses, provide trips to customers at competitive pricing, and to remain competitive.

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The report is segmented as follows:



The Robo Taxi Market is segmented by Application; the Market is segmented by Level of Autonomy; the Market is segmented by Vehicle; the Market is segmented by Service; the Market is segmented by Propulsion:

By Application (Goods, Passenger)

By Level of Autonomy (L4, L5)

By Vehicle (Car, Shuttle/Van)

By Service (Rental, Station-based)

By Propulsion (Electric, Hybrid, Fuel Cell)



Regional Segmentation:

Due to its profitable market and good economic climate, the European Union has been seen as a key player in the robot-taxi industry. This is because the region has a controllable regulatory environment that encourages operations that are environmentally friendly. An estimated 50% of the worldwide Robo-taxi market's income in 2018 was generated in Europe.

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Impact of the COVID-19 pandemic on the market:

Due to limitations, testing of these autonomous vehicles was briefly halted when the COVID-19 epidemic caused an economic crisis. The expansion of the market was also severely hindered by sluggish Original Equipment Manufacturer (OEM) investment in the development of shared autonomous mobility. The firms had to postpone their initial schedule for launching robot taxi ride-hailing services.

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