Robotics market revenues could hit the $4T mark by 2027

According to StockApps.com, this has given rise to the robotaxi market, which is estimated to be worth $4 trillion by 2027.

Robotaxis are self-driving cars that can pick up and drop off passengers without any human interaction. Instead, they use advanced AI algorithms to navigate roads and make decisions based on real-time data from sensors in the car. These autonomous vehicles are expected to revolutionize the transportation industry, with potential applications ranging from ride-sharing to last-mile delivery services.

Edith Reads, StockApps’ financial analyst commented on the data, “Robotaxis have the potential to offer low cost and efficient transportation solutions, as well as improved safety on the roads. They can also reduce traffic congestion in urban areas, freeing up time for commuters and increasing productivity.”

Robotaxi might cut mobility costs by around 12% compared to today’s average cost of human-driven services. This significant reduction will make ride-hailing services more accessible and affordable. The full story and statistics can be found here: Robotaxi Market Revenues Could Hit the $4T Mark by 2027