POD Taxi Market size is poised to grow at substantial growth rate during the forecast period i.e., between 2024-2036.
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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The POD taxi 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.
Our in-depth analysis of the global POD taxi market includes the following segments
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By Technology |
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By Application Areas |
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APAC Market Statistics
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. Asia Pacific industry is set to account for largest revenue share by 2036, on the back of growing investments by government to transform the public transport system, and increasing collaborations between local and international companies to develop next generation transportation system. For instance, India allocated more than USD 530 million for the implementation of POD taxi scheme in the country.
North America Market Analysis
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.
Author Credits: Saima Khursheed
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