Report Highlights
The Global Robotaxi Set to Create an Annual $7.55 Billion Revenue Opportunity by 2025
Market Report Coverage - Robotaxi
Market Segmentation
- By Applications – Passenger Transportation and Goods Transportation
- By Type – Car and Shuttle
- By Level of Autonomy – Level 4 and Level 5
Regional Segmentation
- North America - U.S. and Canada
- Europe – Germany, France, and Rest-of-Europe
- Asia-Pacific & Japan- Japan, South Korea, and Rest-of-APJ
- U.K.
- China
- Rest-of-the-World
Growth Drivers
- Need for Better Road Safety and Traffic Control
- Increasing Government Initiatives Toward Connected and Autonomous Infrastructure
- Low Lifetime Cost for Service Ownership Compared to Private Vehicle Ownership
Market Challenges
- Increasing Concerns and Threats Pertaining to Cyberattacks
- Lack of Safety and Reliability of Robotaxi Amongst Consumers
- Lack of Proper Infrastructural Capabilities in Developing Countries
Market Opportunities
- Paradigm Shift from Private Car Ownership to Shared Mobility
- Development of Smart Cities
Key Companies Profiled
- Argo AI, LLC, AutoX, Cruise LLC, Daimler AG, DiDi Chuxing, Easymile, Fiat Chrysler Automobiles, Local Motors, May Mobility, Navya, Ridecell Inc., Uber, Voyage Auto, Inc., Waymo, and Zoox
Key Questions Answered in this Report:
- What are the key drivers and challenges in the robotaxi market? What will be the potential impact of COVID-19 on the market?
- Which product segment is estimated to witness the maximum demand growth in the global robotaxi market during 2019-2025?
- For which key application areas may robotaxis experience high demand during the forecast period, 2020-2025?
- Which companies are the frontrunners in the robotaxi market?
- What are the business and corporate strategies being adopted by the service providers in the global robotaxi market?
- Which regions and countries are leading in the robotaxi adoption, and which of them are estimated to witness high demand growth from 2019 to 2025?
- What are the key consumer attributes in various regions for the robotaxi market?
Market Overview
The global robotaxi market is mainly attributed due to the need for enhanced road safety across the globe. Additionally, numerous initiatives from the government to develop robotaxis in different regions is also boosting the global robotaxi market. Participation of various automotive manufacturers and increasing vehicular congestion and pollution are expected to further bolster the growth of the global robotaxi market.
Robo taxi are autonomous vehicles that aim to provide on-demand ride-sharing services to autonomous vehicles. These vehicles usually belong to the 4 and 5 levels of autonomy. Both traditional OEMs and new vehicle developers are working in this ecosystem to improve and introduce fully autonomous robotaxis on the road. Although the robotaxis drive autonomously, a safety operator on-board monitors the driving systems in the current scenario. Robotaxis find their use in numerous locations. However, the initial deployment of the self-driving taxis is expected to be concentrated at airports, industrial parks, amusement parks, exhibition complexes, and pedestrian areas, among other locations.
The global robo taxi market is expected to grow at a CAGR of 168.29% throughout the forecast period, 2020-2025, to reach 535 thousand units by 2025. The North America region dominated the global robotaxi market in 2019, whereas the Europe region is expected to showcase the highest growth rate during the forecast period.
Competitive Landscape
To gain market share, major robo taxi technology providers, automotive manufacturers, and mobility-as-a-Service (MaaS) providers, are making various kinds of strategic moves. A majority of the companies preferred business expansion and product launches as a strategy to further increase their sales. Business expansion has been a leading strategy adopted by the companies, as it not only increases their revenue but also enhances their product portfolio and increases their product application base. Several companies, including Easymile, Fiat Chrysler Automobiles, Local Motors, May Mobility, Navya, Ridecell Inc., Uber, and Voyage among others, have been involved in product launches and enhancements.
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