Market Research Expert

Autonomous Taxi Market to Exhibit Strong Growth in the Coming Years

Blog post   •   Jan 31, 2018 02:13 EST

Consistent development in the field of autonomous vehicles, which focuses on the reduction of crashes, energy consumption, pollution, and congestion is likely to drive the autonomous taxi market during the forecast period. Countries such as the UAE and Singapore are already planning to introduce autonomous taxis for in their respective countries. Governments of the developed countries are focusing on autonomous taxi systems in order to provide safe and better public transportation. However, the high cost and infrastructure related issues are likely to hamper the autonomous taxi market during the forecast period.

The global autonomous taxi market can be segmented based on mode of transport, carriage type, ownership, technology, booking type, and region. Based on mode of transport, the autonomous taxi market can be classified into road and air. The road segment is likely to dominate the autonomous taxi market, due to a majority of manufacturers focusing on autonomous cars, low cost associated with manufacturing, government policies regarding autonomous cars. Companies such as Waymo, UBER, and nuTonomy are testing their vehicles on the road in order to cater to their customers.

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Based on, carriage type, the autonomous taxi market can be segregated into passengers and goods. Most autonomous taxis are expected to be utilized for public transport. Customers are preferring autonomous taxis in order to avoid traffic congestion, enhance passenger safety, better driving experience, and reduce road fatalities. Changing government policies related to passenger safety and pollution are likely to drive the autonomous taxi market during the forecast period.

Based on ownership, the autonomous taxi market can be segmented into private and fleet. The fleet segment is likely to dominate the autonomous taxi market. Owing to cost of autonomous vehicle private user of these vehicles are less. For public transport companies like UBER, Waymo, and nuTonomy they are providing service using these vehicles. Fleet segment is likely to dominate the autonomous taxi market during the forecast period.

Based on technology, the autonomous taxi market can be segregated into fully autonomous and partial autonomous. Testing of fully autonomous technology based vehicles is being carried out in a few regions; however, partial autonomous technology based vehicles are mostly employed. The partial autonomous technology segment currently dominates the autonomous taxi market.

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Based on booking type, the autonomous taxi market can be divided into online and offline. The online booking segment is likely to dominate the autonomous taxi market due to the user-friendly system, easy availability, and easy transfer of money and internet penetration.

In terms of region, the autonomous taxi market can be segmented into North America, Europe, Middle East & Africa, and Asia Pacific. North America and Europe is expected to lead the autonomous taxi market during the forecast period due to the high adoption of advanced technology, focus on carbon emission by governments of countries in these regions, and to enhance passenger safety. Furthermore, the countries in Asia Pacific are developing and their governments are supporting to concept of autonomous taxis in order to reduce traffic-related issues and strengthen public transport.

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Key players operating in the global autonomous taxi market include Apple Inc., Baidu, Inc., Intel Corporation, Lyft, Inc., nuTonomy, NVIDIA Corporation, Tesla, UBER, Volocopter GmbH, and WAYMO.