Global Driverless Cab Service Market is valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
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The report covers an in-depth analysis of COVID-19 pandemic impact on Global Driverless Cab Service Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Driverless Cab Service Market Dynamics:
Driverless Cab Service is self-driving taxis, autonomous vehicles powered by a mobility provider on demand. They are self-driving vehicles without some human intervention in the vehicle’s service. Demand for self-driving vehicles has increased with the introduction of automation in vehicles, which has complemented the development of driverless cab service globally. Autonomous vehicles have also gained popularity among consumers leading to companies developing vehicles that need not be powered by a driver.
The need for a human driver has been diminished with the advent of automation in cars, thereby reducing the chances of accidents caused due to lack of human’s concentration. A driverless cab service is also fitted with different sensors such as RADAR, LiDAR and others, making the vehicle efficient to run, ultimately contributing to the growth of driverless cab service. For instance, Daimler-backed Momenta use LIDAR sensors with Mercedes-Benz S-class sedans for driverless cab service. Daimler AG and Robert Bosch has been settling trials for ride hailing service with automated driving in California during 2019.
The growth of the global driverless cab service market is driven by an increase in government initiatives and an increase in investments by the top manufacturers in the automation industry. In addition, the positive effect of autonomous vehicle-related innovations by various start-ups and top players is fuelling the worldwide market. Furthermore, the growth of the driverless cab service market is driven by factors such as the need for fuel-efficient and emissions-free vehicles and the need for improved road safety and traffic control.
However, it is expected that high R&D costs for implementation and cybersecurity threats would hamper the growth of the driverless cab service market. In addition, government regulations and smart city development are expected to generate numerous opportunities during the forecast period for the growth and expansion of the driverless cab service market. For instance, On 10 September 2018, Daimler AG produced a self-contained electric vehicle, as the German manufacturer seeks an advantage over rivals such as Alphabet Inc.’s Waymo and Deutsche Post AG in shaping the future of mobility.
Global Driverless Cab Service Market is segmented by Component, by Vehicle Type, Application, and Propulsion and by region. By Component, Camera segment is anticipated to account for a major share during the forecast period in 2019 and is expected to dominate over the forecast period.
By Vehicle Type, Sedan held the highest market share in 2019 due to the increasing single passenger service. By Application, electric segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period due to the rising of the air pollution which leads to adoption of electric vehicles.
By region, global Driverless Cab Service market is segmented into North America, APAC, Europe, ME & Africa and Latin America. Among these, North America held the highest market share of xx% in 2019 and is expected to keep its dominance over the forecast period owing to the development is due to the growing establishment of Goods and Passenger infrastructure. The service in the market in Europe is forecasted to expand a significant pace on account of the large number of advanced players present in the region.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger & acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Driverless Cab Service Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Driverless Cab Service Market dynamics, structure by analyzing the market segments and project Global Driverless Cab Service Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Driverless Cab Service Market the report investor’s guide.
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Global Driverless Cab Service Market, by Component
• Ultrasonic Sensors
Global Driverless Cab Service Market, by Vehicle Type
Global Driverless Cab Service Market, by Application
Global Driverless Cab Service Market, by Propulsion
Global Driverless Cab Service Market, by Region
• North America
• ME & Africa
• Latin America
Global Driverless Cab Service Market Major Players
• Easy Ride
• Beijing Xiaoju Technology Co, Ltd. (DiDi)
• Motional, Inc
• Ford Motor Company
• Volkswagen AG
• General Motors
• Lyft, Inc.
• Uber Technologies Inc.
• Daimler AG
• BMW Automobiles
• Mercedes-Benz AG
• Amazon (Zoox)
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