Robotaxi Market

Robotaxi Market Size & Share - Future Growth Expectations

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 Robotaxi Market is poised for substantial growth in the coming years, driven by several key factors:

  • Advancements in Autonomous Driving Technology
  • Rise of Mobility-as-a-Service (MaaS)
  • Urbanization and Traffic Congestion
  • Environmental Concerns and Sustainability
  • Cost Savings and Efficiency
  • Regulatory Support and Policy Initiatives
  • Partnerships and Collaborations
  • Enhanced User Experience

These key factors collectively indicate a bright future for the robotaxi market, with significant growth potential in the coming years as autonomous taxi services become increasingly integrated into urban transportation ecosystems.

To know about the assumptions considered for the study download the pdf brochure

  • Advancements in Autonomous Driving Technology: Robotaxis is becoming safer and more dependable thanks to ongoing developments in autonomous driving technology, including as enhanced sensors, vision systems, and artificial intelligence algorithms. These developments in technology are opening the door for the general use of driverless taxi services.
     
  • Rise of Mobility-as-a-Service (MaaS): The need for robotaxi services is being driven by the rising acceptance of Mobility-as-a-Service (MaaS) models, which prioritize shared and on-demand mobility solutions. Robotaxis present a strong substitute for conventional car ownership and ride-hailing services in the eyes of consumers seeking convenient and affordable transportation options.
     
  • Urbanization and Traffic Congestion: Worldwide, cities are experiencing more traffic congestion due to rapid urbanization. Robotaxis have the ability to help with this problem by offering adaptable and effective transportation options that lessen traffic, cut pollution, and enhance mobility in cities as a whole.
     
  • Environmental Concerns and Sustainability: There is an increasing focus on sustainability in transportation as environmental issues gain attention. Clean energy-powered electric robotaxis provide a more eco-friendly substitute for conventional gasoline-powered cars, aiding in the fight against climate change and greenhouse gas emissions.
     
  • Cost Savings and Efficiency: When compared to more conventional modes of transportation, robotaxi services could result in significant cost savings, especially for consumers who depend on ride-hailing services or own private vehicles. Robotaxis can function more effectively and economically by doing away with the requirement for human drivers and utilizing autonomous driving technology. This makes them a desirable choice for both consumers and enterprises.
     
  • Regulatory Support and Policy Initiatives: The development and application of autonomous car technology is being aided by policies and regulations being put in place by governments all over the world. The market for robotaxis is expanding because of regulatory backing, which includes rules for testing and using autonomous vehicles on public roads.
     
  • Partnerships and Collaborations: The development and commercialization of robotaxi services are accelerating because to collaboration among technology companies, ride-hailing platforms, automakers, and other relevant parties. Through partnerships, businesses may pool their resources and experience to overcome logistical and technical obstacles, spurring innovation and extending the reach of robotaxi fleets.
     
  • Enhanced User Experience: Enhancing the user experience is essential to robotaxi services becoming widely used. To improve the comfort, convenience, and safety of robotaxi rides and draw in more customers, companies are investing in services like in-car entertainment, customizable settings, and seamless interaction with mobile apps. This is expected to propel the market growth.

These key factors collectively indicate a bright future for the robotaxi market, with significant growth potential in the coming years as autonomous taxi services become increasingly integrated into urban transportation ecosystems.

Robotaxi Market Share - Global Industry Landscape

  • Waymo LLC (US)
  • Baidu, Inc. (China)
  • Beijing Didi Chuxing Technology Co., Ltd. (China)
  • Cruise LLC (US)
  • EasyMile (France)

Here's an overview of the market landscape and the market shares of some prominent players:

  • Waymo LLC (US): Alphabet Inc., the parent company of Google, owns Waymo, one of the top companies in the autonomous vehicle market. For a number of years, Waymo has led the way in the development and testing of self-driving technology. In a few places, the company has also introduced for-profit robotaxi services. It holds a prominent position in the worldwide robotaxi business thanks to its wealth of experience and technological know-how.
     
  • Baidu, Inc. (China): Known as the "Google of China," Baidu is yet another significant competitor in the autonomous vehicle market. One of the top open-source software platforms for autonomous driving is Baidu's Apollo platform, which draws in a large number of developers and partners. Baidu has made significant investments in the development of autonomous vehicles, notably the introduction of robotaxi services in China.
     
  • Beijing Didi Chuxing Technology Co., Ltd. (China): The biggest ride-hailing business in China, Didi Chuxing, or just Didi, is a major force in the global transportation market. Didi has been testing robotaxi services in several Chinese cities and has been broadening its focus to incorporate autonomous driving technologies. Its vast user base and infrastructure enable it to compete fiercely in the robotaxi industry.
     
  • Cruise LLC (US): Based in the US, Cruise is a top provider of autonomous vehicle technology and a division of General Motors. For a number of years, Cruise has been working on self-driving technologies and testing them in urban settings, including robotaxi services in places like San Francisco. Its strong relationship with General Motors gives it access to resources and manufacturing capacity, which improves its standing in the industry.
     
  • EasyMile (France): French autonomous vehicle maker EasyMile specializes in driverless shuttle options for commercial and urban settings. EasyMile is a prominent player in the larger autonomous vehicle market, albeit focusing exclusively on autonomous shuttles rather than robotaxis. This is due to their technology and experience in autonomous driving.

Related Report

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

Robotaxi Market Size,  Share & Growth Report
Report Code
AT 7054
RI Published ON
5/8/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status