POD Taxi Market Highlights 2020 – 2029
The POD taxi market is estimated to garner a sizeable revenue by growing at a remarkable CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the increasing concerns over the fatal effects of global warming, growing number of road accidents, and rising emphasis on the usage of renewable power for running automobiles. According to the data provided by World Health Organization (WHO), approximately 1.35 million people die every year as a result of road traffic collisions. In addition to these, POD taxis are considered to be more cost-effective in the long run than conventional cars, which is assessed to increase the demand for these vehicles in the future. Furthermore, intensifying infrastructural developments in developed and developing countries, and the escalating investments associated with smart city projects are expected to offer profitable opportunities to the market in the coming years.
The market is segmented by application areas into airports, shopping malls, business parks, tourist attractions, city centers, and others, out of which, the airports segment is anticipated to hold the largest share in the global POD taxi market on account of lower maintenance costs as compared to other airport transport systems. It is evaluated that a POD taxi running on solar power reduces maintenance cost to about one-eighth to that of a car running on combustible fuels. Personal rapid transits (PRTs) such as POD taxis are also capable of providing a personalized experience with enhanced passenger comfort and privacy, and improved point to point connectivity, which in turn is projected to boost the demand for these automobiles in airport facilities in the coming years.
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Global POD Taxi Market Regional Synopsis
On the basis of geographical analysis, the POD taxi market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing investments by government to transform the public transport system, and the increasing collaborations between local and international companies to develop next generation transportation system, especially in nations such as China, India and Japan. For instance, India allocated more than USD 530 million for the implementation of POD taxi scheme in the country. However, North America is anticipated to hold the largest market share in 2021 and continue this trend over the forecast period owing to the strong presence of key players and ongoing initiatives to improve travelling experience in the region. As per the Bureau of Transportation Statistics (BTS), the United States spent $370, 571 million on transportation in 2018, up from $352, 285 million in 2017.
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The POD taxi market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the POD taxi market includes the following segments:
By Technology
- Cloud-Based
- Web-Based
By Application Areas
- Airports
- Shopping Malls
- Business Parks
- Tourist Attractions
- City Centers
- Others
Growth Drivers
- Rising Environmental Concerns Regarding Global Warming to Boost Market Growth
- Cost Effectiveness of POD taxis to Expand Market
Challenges
- Lack of Awareness About POD taxis to Hamper Market Growth
- High Implementation Cost of PRTs to Restrict Market Growth
Top Featured Companies Dominating the Market
- skyTran
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 2 Getthere B.V.
- Mercedes-Benz AG
- General Motors Company
- Vectus Ltd.
- Ultra Global Ltd.
- Metrino-PRT
- The Boeing Company
- Hyperloop Technologies, Inc.
