According to latest research by Emergen Research, the global drone taxi market is expected to reach USD 10.8 million in 2021 and show a CAGR of 63% throughout the forecast period.The continuing expansion of the auto industry, advancements in manufacturing technologies, and growing research & development for more efficient batteries used in drones are all driving market revenue growth.
Due to various advantages such as reduction in traffic congestion, sustainability, increased transportation efficiency, faster traveling option, and noise mitigation, several firms from a variety of industries are rapidly adopting drone taxis in urban areas.Not only do drones offer many advantages over traditional forms of transportation, but they are also being used by government agencies owing to several potential benefits, including the use of passenger drones for emergency services such as search and rescue missions and the delivery of life-saving products.
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Furthermore, the growth of new technologies and partnerships between key businesses are propelling market revenue over the next five years. On January 10, 2020, for example, Hyundai joined forces with Uber to offer regular citizens access to drone taxi services and make urban air mobility a reality.
However, the rapid growth of passenger drones may cause airspace to be clogged and create new safety problems. The development of Internet of Drones (IoD), which connects drones and ensures proper pathing and collision avoidance, is addressing this issue. This also raises additional security concerns, such as ensuring continuous communication pathways in the event of technological failure, preventing malicious drone activity, and protecting user privacy.User privacy is a key concern with any new technology, and drones are no exception. Although there are many potential benefits to using drones, such as increased efficiency and safety, there are also potential risks.
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Emergen Research has segmented the global drone taxi market based on propulsion type, range, autonomy, end-use, and region:
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