This Pod Taxi Market research report contains a complete background analysis of the industry, which includes an assessment of the parental market. All the statistical and numerical that have been forecasted in this report is represented with the help of graphs, charts, or tables which makes this report more user-friendly. This Pod Taxi Market report contains a thorough description, competitive scenario, wide product portfolio of key vendors, and business strategy adopted by competitors along with their SWOT analysis and porter’s five force analysis. Whether it is about renewing a business plan, preparing a presentation for a key client, or giving recommendations to an executive, this Pod Taxi Market report will surely help you to a degree.
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In terms of revenue, global pod taxi market was valued at US$ US$ 8.01 Bn in 2022 and is anticipated to grow at a CAGR of 18.30 % over the forecast period (2022 – 2030). Fairwood Group, Metrino-PRT, skyTran, Vectus Ltd. and www.2getthere.eu.amongst others.
Global Pod Taxi Market:
- By Application
- City Centers
- Business & Industrial Parks
- University Campus
- Shopping Centers
- Theme Parks & Resorts
- Large Hospitals Areas
- By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Pod taxi, also known as personal rapid transit (PRT), is a public transport system developed for traveling swiftly in congested areas. These cars operate much like the traditional rail and streetcar network and are built above busy roads and highways. Pod cars are automated driverless vehicles and can carry up to six people at a time. Pod car is a revolutionary transport concept which is environment-friendly possessing the ability to be fuelled by solar power and other renewal power sources, thereby aiding in limiting the adversities concerning pollution in densely populated areas. The Ultra pod system, for instance, helps in the reduction of carbon emissions by about 50%, as compared to fossil fuel-powered buses. Factors such as environment sustainability and reduction in congestion are propelling the growth of the global pod taxi market. The countries globally are heading towards high-end technology, and a few countries have also initiated the deployment of pod taxi system. Morgantown in West Virginia has a sprawling network of PRT and gained popularity since 1975.
Masdar City of UAE has also established the same in 2010. An ultra-PRT has been set up at London Heathrow Airport as well. The PRT runs at a maximum speed of 45 kmph. Recently, several PRT stations have been made operational in Suncheon city of South Korea for a 40-vehicle system. The success rate of PRT is quite high in these cities. Government authorities in developing countries are also investing profusely towards the construction of sustainable alternative form of public transportation network. In the Indian city of Gurugram, for instance, the current public transportation system is unable to meet the entire needs of the travellers, which is worsening the concerns pertaining to crowd and traffic congestion during peak hours. The National Highway Authority of India (NHAI) have invested towards the establishment of Delhi-Gurugaon Pod Taxi corridor, to be carried out as a public private partnership project. According the initial project plan laid out by the authority, about 800 to 1100 pod taxis/PRT care are anticipated to be floated in the initial years. The pod taxi system in Gurgaon is expected to cost the government around US$ 540 Mn, and will be built on Automated People Mover (APM) standards. With the introduction of pod taxis in the developing and developed countries in the world, and the growing focus on intelligent transport systems by government bodies, the global pod taxi market is expected to be a lucrative investment option in the coming years.
Accidents as a result of traffic congestion have been a major concern in urban cities. In India’s capital city of New Delhi, for instance, over 570 individuals lost their lives in two-wheeler related accidents in 2018. Metro systems are being increasingly developed in developing cities. However, the concerns regarding the higher cost of infrastructure, coupled with the added convenience of transportation on-demand by PRT is expected to provide the latter an edge over the metro systems. Furthermore, the PRT systems are being designed to run on renewable sources of energy, which helps in reducing the carbon footprint. Pod taxis are built with features such as vehicle arrival audio and video visual warning system, surveillance using CCTV, audio communication, platform sloping to prevent injuries, evacuation of misaligned vehicles, amongst others.
With the government bodies mulling over various pod taxi projects, private entities are forming partnerships for the development of PRTs. India’s conglomerate Reliance, for instance, is partnering with SkyTran for the development of pod taxis in various locations in India. Once the trial runs are completed, Reliance is expected to get into agreements with government bodies both at the State and Central level. The prototype is expected to boost the Government of India’s, Make in India initiate, as majority of the parts are to be developed in India. Therefore, the partnerships by private companies, with the involvement of the government bodies, are expected to boost the growth of the global pod taxi market during the forecast years.
The recent outbreak of coronavirus pandemic has affected countries across continents. Government bodies in the affected countries have imposed nationwide lockdown to inhibit the spread of this infectious disease. Pod taxis are expected to provide an effective medium for transport while ensuring compliance with social distancing norms. The automated taxi aids in recording the details of the passengers, which will eventually help to trace down passengers. The COVID-19 pandemic has created a sense of health awareness among people which is anticipated to prevail even in the post-COVID-19 phase. This along with sustained demand for fast and secure travel amongst individuals will influence the growth of pod taxi market. Thus, the coronavirus pandemic is anticipated to have a positive impact on the global pod taxi market.
Key Questions Answered with this Study
1) What makes Pod Taxi Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Pod Taxi market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Pod Taxi in next few years?
8) What is the impact analysis of various factors in the Pod Taxi market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Pod Taxi Market?
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