UBS Says Robo-Taxi Industry Could Baloon To $2 Trillion By 2030
|A Ford driverless vehicle
According to UBS Group AG analysts, the global robo-taxi market could be worth over $2 trillion a year by 2030 and mass adoption of self-driving vehicles could provide a crucial boost to a number of existing sectors. The estimate is grounded on a UBS Evidence Lab simulation of a robo-taxi fleet in New York that made efficient use of routes and riders’ connection with vehicles.
Key metrics like margins and charging-station network reach, running costs, and utilization rates were also taken into consideration. The $2 trillion estimate includes revenue from manufacturing the vehicles and tires, setting up charging stations, providing electricity, and semiconductors needed to back up self-driving tech.
|The smart vision EQ fortwo driverless vehicle concept
The report from UBS analysts is feasible both financially and technologically and “once the inflection point is reached, we believe the growth rate for robo-taxi adoption will be steep,” the analysts’report said.
The driverless vehicle industry has been quite hot as of late. Driverless trucking unicorn TuSimple recently landed a contract to haul mail for the United States Postal Service, Udacity and Mercedes-Benz recently collaborated for a new Nanodegree, Aurora made its first acquisition, snapping up lidar startup Blackmore, Waymo recently made self-driving cars available on Lyft. GM Cruise — a top player in the robo-taxi race — also recently raised $1.15 billion at a $19 billion valuation.