The Robo Taxi Business Could Become one of the Largest Industries

A few years ago, self-driven cars became a reality. With that fact, a new branch of the taxi business appeared – the robo taxi market.

In certain countries, you can have a driverless car take you around places and safely deliver you to a location of your choice. These vehicles are operated by complicated high-end computing programs and deep neural networks that ensure the safety of the passengers and the secure and smooth operation of the car.

The first company to release robotaxis was NuTonomy, a spinoff of MIT. It managed to release self-driven taxis available to the public in August 2016.

Since then, various startup projects have been appearing and numerous leading companies such as Uber, Google, Cruise Automation, and others, have invested resources into the further development of the industry.

What are the Statistics of the Global Robo Taxi Market

According to a research, conducted by the Data Bridge Market Research, from 2022 to 2029 the global robo taxi business is expected to grow by 65.34%. In terms of value, that means that from USD 1.09 billion, by 2029 the market will reach USD 61.07 billion.

That growth percentage demonstrates the fact that the business could potentially become one of the largest industrial branches, meaning it will provide numerous job opportunities and it will revolutionize the transportation industry.

With the market growing, the services of self-driven taxis are also going to expand and develop. There will be numerous types of vehicles available for order and passengers will be able to choose between Electric or Hybrid engines, with the tendency to produce more electric ones.

The problems associated with driverless taxis are on their way to become resolved and the service is expected to become more affordable for the general public.

There are still certain restraints, such as lacking the necessary infrastructure in many countries, high expenditure prices, and others, but companies are working on finding ways to overcome these obstacles.

For example, the cost of self-driven vehicles has fallen by 90% from the cost of the earliest ones.

Why is the Driverless Taxi Market Growing

Governments and leading companies are now investing in numerous products aimed at helping the robo taxi market flourish. Their actions are dictated by a combination of crucial factors that call for action and for sustainable means of transportation.

Fuel efficiency is now not only a desire but a necessity with the fast depletion of essential resources. The need to decrease the global carbon footprint is also alarming and calling on all industries in finding ways to lower carbon emissions.

Despite some fears concerning their safety, self-driven cars could actually make the roads a much safer place, reduce traffic jams, and ease parking. Another prediction is that operating costs will also become lower after the need for a human driver is no longer real.

Even though some people fear the robo taxi development will destroy many jobs, it will also provide various opportunities for new ones.

The Revolution of Waymo: Airport Robo-Taxi

As of March 02, 2023, the robo taxis released by Waymo have passed a total of nearly 10 million miles without a driver and without any road accidents.

Waymo is a company created by Alphabet, which is also the parent company of Google. For that reason, Waymo was formerly known as the Google Self-Driving Car project.

It began in 2009 but just recently managed to release driverless taxis in Phoenix, Arizona. The only thing it requires from passengers is to download the Waymo app and order a ride.

You can choose between different types of cars according to your personal needs, including Class 8 trucks and SUVs.

The Waymo technology is unparalleled. In contrast to the GPS signal which could lose strength and get lost, these cars operate by internal data based on detailed custom road mapping. The car also includes a real-time sensor that updates information about current road conditions.

The hi-tech sensors in Waymo self-driven cars collect data from all their surroundings and analyze it through deep machine learning, staying “aware” of everything that happens around the vehicle.

By compiling and analyzing the information through computing, the car’s processor is able to predict accidents that are about to happen thousands of times faster than a human being could, which adds to the level of safety, provided by such cars.

The computer is able to immediately predict the safest possible outcome and react on time to prevent the accident from happening.

What Problems do Self-Drive Taxis Solve

In contrast to human drivers, self-driven cars don’t need to take breaks, and they do not get distracted or tired, which is only a part of the reason why these vehicles are time safer than regular taxis.

Since they are automated and operate by intricate high-end technology, they are able to avoid obstacles without a compromise, never exceed speed limits, or break the rules in any way.

Enormous resources have been used in the production of self-driven vehicles, so you can always expect only the topmost quality, luxury, and guaranteed safety.

In fact, safety is the number one priority for companies that develop robo-taxis.

What are the Most Convenient Airport Transfer Options

The rapid technological development nowadays is unheard-of, and the world is definitely ready for robo taxis.

However, although the market is expanding, a lot of time is going to pass before the option becomes affordable and available for the general public.

Fortunately, there are similar airport transfer options that provide the same convenience, the only difference being the fact that the cars are driven by a chauffeur.

Companies like AirportTaxiExpress.co.uk allow you to pre-book a taxi at quite an affordable price and have your means of transportation waiting for you at the airport.

The statistics show that the development of such services is growing and it doesn’t seem to stop soon, despite the growing popularity of robo taxis.

Of course, other means of transportation, such as public trains and buses also exist, but nowadays a large percentage of the public is turning to airport taxi transportation.