Robotaxi Market

Market Leaders - Robotaxi Market

The global robotaxi market, by value, is estimated to be USD 0.4 billion in 2023 and is projected to reach USD 45.7 billion by 2030, at a CAGR of 91.8% from 2023 to 2030. In the near future, demand for robotaxi is expected to increase due to favourable investment made for automotive industry.

The future market for recreational boats is expected to experience significant growth due to various contributing factors. Artificial intelligence, machine learning, computer vision, and sensor technology advancements have greatly enhanced the capabilities of autonomous cars. These technical developments have made it possible to create robotaxi platforms that are secure and dependable. Robotaxis could significantly lower users' transportation expenses. Robotaxis can be more cost-effective than conventional taxi services or owning a car, especially when taking into account things like fuel efficiency, lower maintenance costs, and improved routing. In addition to this, Consumer attitudes and behavior have altered as a result of the growth of ride-sharing services like Uber and Lyft. Robotaxis fit well with the trend of people growing more at ease with the idea of shared mobility services. MaaS solutions that incorporate numerous modes of mobility, including robotaxis, are becoming more and more common. Also, Governments and regulatory agencies are essential in determining the direction of the robotaxi sector. Many nations and localities are creating laws and structures to support and promote the use of autonomous vehicles. The market for robotaxis can expand more quickly under favorable regulations and policies.

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The robotaxi market is dominated by global players such as Waymo LLC (US), Baidu, Inc. (China), Beijing Didi Chuxing Technology Co., Ltd. (China), Cruise LLC (US), and EasyMile (France). These companies adopted new product launches, deals, and other strategies to gain traction in the robotaxi market.

Waymo LLC is a major player in the robotaxi market due to its innovations in autonomous driving systems and LiDAR technology. It started testing level 3 robotaxis on public roads in October 2018. Waymo One, the first robotaxi program for early riders, was launched in December 2018. The company has also developed its own LiDAR, which is less expensive than the current industry price. Its LiDAR is technically more advanced than the current available LiDARs in the segment. In Los Angeles, California, Waymo LLC launched a robotaxi service in October 2022. After getting approval from the California Public Utilities Commission, Waymo announced on November 18, 2022, that it would launch no-driver taxi services in San Francisco, California. Technical advancements and rapid deployments have made Waymo one of the major players in the robotaxi market.

Developed by Chinese technology company Baidu, the Baidu Robotaxi is a fully automated ride-hailing service. Since its launch in 2018, the service has expanded to a number of Chinese cities, including Beijing, Shanghai, and Guangzhou. Using a fleet of specially designed vehicles with various sensors, such as cameras, radar, and lidar, Baidu Robotaxi can autonomously navigate. Additionally, cars have a sophisticated software system that enables them to drive and avoid obstacles. Baidu Robotaxi has received accolades for its dependability and safety. Without even a minor accident, the service has traveled more than 100 million kilometers. Baidu Robotaxi is one of the most reasonably priced options among the available autonomous ride-hailing services. In 2023, Baidu, Inc. announced the construction of the world's largest fully autonomous ride-hailing region and launched 200 additional fully autonomous robotaxis in the same year.

Beijing Didi Chuxing Technology Co., Ltd. has been constructing and improving its autonomous driving business. It has created proprietary Level 4 full-stack autonomous driving software based on both actual driving and simulated data. Its all-encompassing system consists of onboard software components for localization, perception, prediction, planning, and vehicle control, off-board tools and infrastructure for simulation and data pipeline, and vehicle-to-everything (V2X) technology. The company has a self-driving fleet of more than 200 test vehicles and a team of over 900 subject-matter specialists.

Beijing Didi Chuxing Technology Co., Ltd. Has been testing its fleet in Shanghai, Guangzhou, Beijing, and the Bay Area in California. It offers level 4 non-commercial robotaxi services in Shanghai and Guangzhou, which also feature in-vehicle human safety drivers. After obtaining the necessary licenses, the company began conducting remote autonomous driving experiments without a safety driver in the driver's seat in Guangzhou in 2022. It also acquired a business license at the same time to run robotaxis in Guangzhou. Since March 2023, the company has formally begun conducting business in the Huadu District. On April 13, 2023, it staged an open day for autonomous driving, during which it presented the DiDi Neuron, the first concept robotaxi.

Cruise LLC, part of the US automaker General Motors, is testing robotaxis in San Francisco and California. GM has invested significantly in R&D for robotaxis. Cruise Automation launched autonomous grocery and food delivery services in the San Francisco area in association with DoorDash. Chevrolet Volt is expected to be used for this service. It had 100 robotaxis operating in San Francisco as of September 2022, and they intend to expand its fleet to 5,000 vehicles. However, because of the potential to increase traffic within the city, this has drawn considerable criticism. In September 2022, the company announced that it would extend its service to Austin, Texas, and Phoenix, Arizona, within three months, aiming to increase revenue by USD 1 billion by 2025.

EasyMile creates and produces driverless cars. The EZ10, a compact, 12-passenger electric shuttle, is the company's main product. It introduced the EZ10 Robotaxi in 2021. This version of the EZ10 is entirely autonomous. Several pilot programs, including those in France, Singapore, UK, and US, are currently using the EZ10 Robotaxi. The EZ10 Robotaxi has several sensors, such as cameras, radar, and lidar, enabling it to comprehend its surroundings and navigate independently. Another feature of the vehicle is a safety operator who can take over driving duties in an emergency. In October 2022, EasyMile started providing a commercial fleet of autonomous shuttles for a fully driverless service worth USD 3.9 million at the Belgian tourist site Terhills. The shuttles will run 7 days a week for up to 10 years.

Related Reports:

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

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Robotaxi Market Size,  Share & Growth Report
Report Code
AT 7054
RI Published ON
6/26/2023
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