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The global robotaxi market size is projected to grow from 617 units in 2021 to 1,445,822 units by 2030, at a CAGR of 136.8%. Factors such as The rising concerns over road safety, emissions, and the increasing demand for ride-hailing services have led to the growth of the market. Autonomous vehicles also help in optimizing cost to the fleet operator. Newer business models like mobility as a service would provide another sustainable and profitable revenue stream in the future.

The growth of the market is influenced by the rising demand for shared mobility, huge R&D investments from major players, focus on preventing accidents, government focus on reducing emissions, and growth of the electrification of vehicles. The market is dominated by global players such as Waymo (US), Cruise Automation (US), Baidu (China), AutoX (China), and Tesla (US). These companies develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth robo-taxi market.

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Waymo is a subsidiary of Alphabet Inc. The company is a self-driving technology development company. It has developed the most sophisticated AI for self-driving. The company started testing with a Toyota Prius. In 2016, Alphabet Inc. introduced a self-driving project named as Waymo. It also developed its own LiDAR called ‘Laser Bear Honeycomb.’ They started to develop their own self-driving sensors from in 2017, as well. In 2018, Waymo launched a commercial autonomous ride-hailing service, called ‘Waymo One’ in Phoenix, US. In 2019, the company started these fully autonomous rides for some of the Waymo One riders in the same area. In 2020, it started offering self-driving, rider-only service to the passengers in Phoenix. The company is offering autonomous ride-hailing services and autonomous solutions for transportation of goods under the names, Waymo One and Waymo Via respectively. Waymo has already partnered with renowned OEMs such as Stellantis, JLR (Jaguar-Land Rover), Daimler Trucks, and Volvo. In March 2020, The company introduced the 5th-generation Waymo Driver, a self-driving system. In March 2019, Waymo developed its own LiDAR. Now the company is making these sensors available to companies outside self-driving—beginning with robotics, security, agricultural technology, and more—so others can achieve their own technological breakthroughs. It announced that one of its 3D LiDAR sensors, which is Laser Bear Honeycomb, would be available to select partners.

Cruise LLC started in 2013 in San Francisco with a mission to develop the most advanced self-driving technology for the greater good. In 2016, General Motors acquired Cruise. After the acquisition, Cruise started testing with GM’s Chevy Bolt for robo-taxi. The company has a sophisticated simulation team that tests real-world scenarios in zero-consequence, off-road environments. They can simulate the most horrific traffic accidents and unexpected road experiences to train cars to respond. Cruise also installed several fast chargers in several parking lots in San Francisco. As of 2021, the company has two distinct autonomous driving technology equipped vehicles, namely, The Cruise First-generation AV and The Cruise Origin. The Cruise AV is a Chevi Bolt which is installed with self-driving technology and Cruise Origin is the robotaxi which is being tested for ride-hailing services and soon will be moved to production lines. The company has received around USD10 billion funding from renowned companies such as GM, Honda, T. Rowe Price, Microsoft, and Walmart since 2013. For instance, Honda and Softbank each have invested USD 2.75 billion and USD 2.25 billion in Cruise Automation respectively. In January 2019, Cruise Automation launched autonomous grocery and food delivery service in San Francisco. The company partnered with on-demand food delivery service ‘DoorDash.’ GM’s Chevy Bolt would be used for this service.

Baidu is a renowned Chinese company specialized in artificial intelligence, which started as an internet search engine platform provider. The Baidu app is the largest search and feed digital application in China. The company launched its first robotaxi service, a commercial driverless ride-hailing service in May 2021. During this service, a person is always present in the front co-passenger seat for emergencies. The service involves 10 Apollo robotaxis running in a radius of 1-kilometer in Beijing. These vehicles will pick and drop people from 8 designated locations around Shougang Park, which is expected to have large number of visitors in 2022, for Olympics. These Apollo Robotaxis can be hired through the Apollo Go App.

AutoX, Tesla, Argo.AI, Pony.AI, EasyMile, Didi Chuxing, Navya, Local Motors, 2Getthere are some of the other players in this market. In May 2021, Argo AI unveiled the new LiDAR sensor which is capable of covering approximately 400 m down the road and thus, can be very useful in the autonomous driving technology. In January 2021, AutoX revealed its driverless commercial taxi service, RoboTaxi, in Shenzhen, China. The service is expected to be available to the public in Shenzhen. In November 2019, Tesla launched its EV Cybertruck with an approximately 3,500 pound payload capacity. It has a sturdy exoskeleton designed for superior strength and endurance. In March 2019, Tesla launched the fully electric Model Y, which can carry seven passengers and their luggage. It is installed with two ultra-responsive, independent electric motors that digitally control torque to the front and rear wheels—for better handling, traction, and stability control. In February 2018, Ford and Agro.AI launched robotaxis in Miami.

Related Reports:

Robotaxi Market by Application (Goods and Passenger), Level of Autonomy (L4 and L5), Vehicle (Car and Shuttle/Van), Service (Rental and Station Based), Propulsion (Electric and Fuel Cell), Component and Region - Global Forecast to 2030

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