The Global Robo Taxi Market was valued at USD 399.30 Million in 2019 and is projected to reach USD 29.08 Billion by 2027, growing at a CAGR of 61.88% from 2020 to 2027.
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A robo taxi is a self-driving taxi and autonomous vehicle that is operated by shared and on-demand mobility services. The emergence of robo taxis is driven by its benefits, such as improving fleet management and reducing the cost of ownership. The autonomous driving technology of robo taxis is the main driver for reducing the cost of ownership to mass-transportation levels. Robo taxis will be able to reduce the total cost of ownership of a fleet operator by 30%-50% as compared with the private-vehicle ownership.
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