POD Taxi Market Overview
POD Taxis or Personal Rapid Transit Systems (PRTs) are driverless, computer operated, electric battery driven compact vehicles that causes no emissions. These vehicles can also be operated using some of the renewable energy sources such as hydropower and solar cells.
The global market of driverless cars is anticipated to reach to USD 42 Billion by 2025. Geographically, the global POD taxi market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and rest of the world.
Market Size and Forecast
North America is anticipated to be one of the largest POD taxi market over the forecast period. The market is likely to get propelled by growing needs of green fuel based vehicles in the region. The U.S. and Canada constitute two major POD taxi market in North America.
Europe POD taxi market is expected to get propelled by entry of giant automotive players such as General Motors and Mercedes into manufacturing of driverless vehicles. In addition to that expansion of automotive industry in some of the major European countries such as U.K., Germany, Spain, Italy and France to further augment the growth of POD taxi market in Europe.
The POD taxi market in Asia-Pacific is projected to get propelled by increasing infrastructural developments and positive economic growth in some of the major counties like India, China, Japan and Singapore. In addition to that increasing traffic jams owing to rapidly increasing population is also believed to escalate the demand of POD taxis in the region.
The global POD taxi market is segmented on the basis of technology, application areas and types of fuel used. On the basis of applications the global POD taxi market could be divided as airports, shopping malls, eco towns, urban city developments and tourist attractions.
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and challenges
Rising concern over fatal effects of global warming is one of the key factors which is believed to propagate the growth of global POD taxi market over the forecast period. In addition to that growing infrastructural developments in most of the developing nations to further bid to boost the demand of POD taxi’s in coming 5-6 years. Moreover, rising number of road accidents and depleting fossil fuels to beef up the demand of POD taxi’s in future.
However, lack of awareness, lack of proper infrastructure and high investment costs could deter the growth of global POD Taxi market in future.
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