From GlobeNewswire.: 2024-03-28 11:30:00

The robo taxis market is on an upward trajectory, with revenues expected to reach $4.32 billion in 2024 and $25.23 billion by 2028, driven by a CAGR of 55.5%. The integration of advanced sensors, like LiDAR technology, is enhancing safety and perception accuracy in robo taxi operations, supporting autonomous driving.

Key drivers of market growth include the increasing production and sale of electric vehicles, offering sustainable and cost-effective transportation solutions. Electric car sales surged by 55% in 2022, exceeding 10 million units globally. The rising demand for EVs is expected to fuel the growth of the robo taxis market.

Market segmentation in the robo taxis market includes components like camera, radar, LiDAR, and more, alongside service types, propulsion options like electric or hybrid, and various vehicle types like shuttles or cars. Regions driving growth include North America as the largest region, with Asia Pacific and the Middle East showing impressive compound annual growth rates.

Prominent players like Lyft Inc, Cruise LLC, and Baidu Inc dominate the high-concentration global robo taxis market, leading innovation and competition. The market presents significant opportunities for passenger transportation and EV proliferation, with the potential to revolutionize urban mobility and transportation.



Read more at GlobeNewswire.: Robo Taxis Market Growth Analysis 2024-2028: Projected