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.
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.
Robotaxis 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.
To gain market share, major robotaxi 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.
Key Topics Covered:
1 Markets 1.1 Industry Outlook 1.1.1 Trends: Current and Future 220.127.116.11 Autonomous Vehicles 18.104.22.168 Vehicle-to-Everything Communication 1.1.2 Ecosystem/Ongoing Programs 22.214.171.124 Regulations and Regulatory Bodies 126.96.36.199 Regulatory Agencies for Driverless Vehicles 1.1.3 Supply Chain Network/MAP 1.2 Business Dynamics 1.2.1 Business Drivers 188.8.131.52 Need for Better Road Safety and Traffic Control 184.108.40.206 Increasing Government Initiatives Toward Connected and Autonomous Infrastructure 220.127.116.11 Low Lifetime Cost for Service Ownerships Compared to Private Vehicle Ownership 1.2.2 Business Restraints 18.104.22.168 Increasing Concerns and Threats Pertaining to Cyberattacks 22.214.171.124 Lack of Safety and Reliability of Robotaxis Amongst Consumers 126.96.36.199 Lack of Proper Infrastructural Capabilities in Developing Countries 188.8.131.52 Impact of COVID-19 on Robotaxi Market 1.2.3 Business Strategies 184.108.40.206 Product Developments 220.127.116.11 Market Developments 1.2.4 Corporate Strategies 18.104.22.168 Mergers and Acquisitions 22.214.171.124 Partnerships and Collaborations 1.2.5 Business Opportunities 126.96.36.199 Paradigm Shift From Private Car Ownership to Shared Mobility 1.3 Startup Landscape 1.3.1 Key Startups in Ecosystem 1.3.2 Funding Analysis 188.8.131.52 Major Investors 184.108.40.206 Unicorn Startups
2 Application 2.1 Global Robotaxi Market, by Application 2.1.1 Passenger Transportation 2.1.2 Goods Transportation 2.2 Demand Analysis for Global Robotaxi Market, by Application 2.2.1 Passenger Transportation 2.2.2 Goods Transportation
3 Products 3.1 Robotaxi Market, by Product Type 3.1.1 Car 3.1.2 Shuttle/Van 3.2 Demand Analysis for Robotaxi Market, by Product Type 3.2.1 Car 3.2.2 Shuttle/Van 3.3 Global Robotaxi Market, by Level of Autonomy 3.3.1 Level 4 3.3.2 Level 5 3.4 Demand Analysis for Robotaxi Market, by Level of Autonomy 3.4.1 Level 4 3.4.2 Level 5 3.5 Product Benchmarking: Growth Rate - Market Share Matrix 3.5.1 Opportunity Matrix, by Product Type
5 Markets - Competitive Benchmarking & Company Profiles Company Overview Role in Robotaxi Market Product Portfolio Business Strategies Market Developments Product Launch Corporate Strategies Partnerships and Collaborations Mergers and Acquisitions R&D Analysis Competitive Position Strengths Weakness