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New report cranks up the robot taxis market

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For decades, taxis have been operated by human drivers. That may soon change, however, as many automotive companies are now developing self-driving taxis. In this report, you'll learn more about the robot taxis market.

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New report cranks up the robot taxis market

Wouldn't it be great if taxis could operate without a human driver behind the wheel? While it may sound like science fiction, the technology for autonomous taxis is already here. Known as a driverless taxi or robo taxi, it's essentially a self-driving vehicle that's used for ride-hailing services.

How does a robo taxi work exactly? Robo taxis function using the same mechanism as other self-driving vehicles. Rather than requiring a human driver to operate the robo taxi, they use high-tech sensors and systems.

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A typical robo taxi features a network of sensors that detect other cars and objects in the taxi's surrounding environment. They also use navigation systems to automatically guide the taxi to the customer's intended destination. The combination of sensors and a navigation system allow robo taxis to operate just like other taxis but without a human driver behind the wheel.

Of course, robo taxis offer a variety of benefits when compared to traditional human driver-operated taxis, one of which is cost savings. It's expensive for ride-hailing services to hire and pay human drivers to operate taxis. Depending on the particular type of ride-hailing service, a human driver may earn up to 50% of the total cost of a ride. With robo taxis, however, ride-hailing services can eliminate this expense. At the same time, these ride-hailing services can pass the savings down to their customers, allowing for cheaper rides.

In addition to cost savings, robo taxis offer a safer riding experience for customers. While robo taxis are still a relatively new concept, they've been proven safer than conventional taxis. With conventional taxis, there's a risk for human error. If the driver makes a mistake, it could result in injury to one or more passengers. Robo taxis, on the other hand, are operated automatically using a computer system, so there is no risk of human error.

The Robo-Taxi Market to 2027 - Global Analysis and Forecasts by Service Type (Car Rental, Station-Based); Application (Goods Transportation, Passenger Transportation); Component (Camera, Lidar, Radar, Ultrasonic Sensors); Level of Autonomy (Level 4, Level 5); Propulsion (Electric, Fuel Cell, Hybrid); Vehicle (Car, Van/Shuttle… Geography report by The Insight Partners is a comprehensive study of the global robot taxis market. In this report, you'll discover the market's size, classifications, chain structure, growth drivers, growth challenges and more.

Some of the key robo taxi vendors profiled in this report include Daimler AG, Ford Motor Company, GM Cruise LLC, Lyft, Inc., nuTonomy, Tesla, Uber Technologies Inc., Volkswagen, Volvo Car Corporation and Waymo LLC.

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