Robotaxi Market
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PUBLISHED: 2022 ID: SMRC22118
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Robotaxi Market Forecasts to 2028 - Global Analysis By Vehicle Type (Van/Shuttle and Car), Propulsion Type (Fuel Cell, Electric, Hybrid and Internal Combustion Engine Vehicles), Service Type (Station based and Car Rental), Component (Radar, Camera, Ultrasonic Sensors and Lidar), Application(Passenger Transportation and Goods Transportation) and Geography

4.8 (35 reviews)
4.8 (35 reviews)
Published: 2022 ID: SMRC22118

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $1.71 BN

Projected Year Value (2028)

US $55.87 BN

CAGR (2022 - 2028)

78.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Europe

Highest Growing Market

North American


According to Stratistics MRC, the Global Robotaxi Market is accounted for $1.71 billion in 2022 and is expected to reach $55.87 billion by 2028 growing at a CAGR of 78.8% during the forecast period. Robo-taxis are automatic, self-driving vehicles used as taxis and are run by on-demand mobility services. They are self-driving vehicles that do not require human intervention. The advancement of automation has increased the demand for self-driving vehicles, which has assisted the expansion of robo-taxi services across the world.

According to the National Highway Traffic Safety Administration (NHTSA), around 94% of car accidents occur due to human error. Additionally, MIT Energy Initiative Mobility 2020 stated that approximately 40,000 people lost their lives in the U.S. in 2019 due to road accidents.



Market Dynamics:

Driver:

Demand for Fuel Efficient and Emission Free Vehicles

The demand for fuel-efficient and emission-free vehicles has grown significantly across the world due to the trend toward increased vehicle automation. The manufacturers were able to develop emission-free vehicles as a result of the growing demand, which supports the expansion of the robo-taxi industry. Since robo-taxis are built to be fully autonomous, a better and more effective fuel system is needed to propel the vehicle. Additionally, as robotaxi is more eco-friendly than other conventional vehicles in terms of fuel efficiency, the adoption of fuel-efficient and emission-free vehicles is driven by the rise in traffic and greenhouse gas emissions as well as an increased awareness of the significant effects of air pollution.

Restraint:

High cost of R&D and complexity in adoption of robotaxis

Due to the high cost of components like ultrasonic sensors, cameras, and LiDAR, deploying a full-fledged robotaxi service requires significant investments. Robotaxi fleet deployment and adoption are difficult and time-consuming processes. As a result, it is challenging to adopt robotaxi services completely. Further, software complexity is growing exponentially as a result of the simultaneous operation of several deep neural networks (DNNs) in a software stack, which will hamper market growth.

Opportunity:

Rise in Focus on Improving Road Safety and Traffic Control

When compared to traditional vehicles, robo-taxis have a variety of advantages in terms of safety and traffic congestion. LiDAR, RADAR, a camera, and GPS are the sensors that are installed in an autonomous vehicle. Short-range and long-range sensors are used to assist the vehicle in detecting any objects in its path and reducing the risk of an accident.

Threat:

Navigation in crowded places expected to be challenging for robotaxis

The implementation of robotaxis would be incredibly difficult in crowded places, which would pose a challenge for these vehicles. Furthermore, robotaxis are anticipated to wait until individuals cross zebra crossings while moving. The practise of "jaywalking," in which individuals pass a zebra crossing at random, is more common in developing nations. In developing nations, robotaxis is severely hampered by this practise.

Covid-19 Impact:

Due to the commute limits, COVID-19 had a negative impact on the world market for robo-taxis. Regulatory and legal changes, working capital management, supply chain execution, and dependence on labour were the challenges faced by the market. Organizations, on the other hand, prepare focused cost plans to mitigate the pandemic's impact. In order to manage and handle the ongoing supply of essentials in the post-pandemic scenario, there is an increasing demand for vehicle tracking hardware and managing software.

The electric segment is expected to be the largest during the forecast period

The demand for fuel-efficient vehicles has increased in response to rising emission concerns. In addition to providing robotic assistance, robotaxis would usher in an era of high fuel efficiency and minimal carbon emissions. Moreover, the partnership between Volvo and Uber is anticipated to introduce self-driving vehicles to the mid-size luxury sector, with 50% of those vehicles being fully electric.

The passenger transportation segment is expected to have the highest CAGR during the forecast period

The market is propelled by the rise in demand for passenger transportation spurred on by the surge in the population of middle-income groups and the rising standards of living in emerging nations. Another factor influencing consumer preference for vehicles is the availability of low-cost alternatives in these vehicles. Road accidents are more likely to include conventional taxis than autonomous passenger taxis.

Region with largest share:

The fleet operators are able to evaluate and deploy easily in Europe because of technological developments and supported infrastructure. There are approximately 180 automotive facilities in the EU, and the industry is the largest investor in R&D, according to the European Commission. Additionally, the market will be significantly impacted by growing autonomous vehicle technological trends. Probably, this will increase demand for self-driving taxis in the region.

Region with highest CAGR:

The adoption of robo-taxi in the North American region is being spurred by the increasing support of the federal government for altering transportation laws to enable a pathway for robo-taxi deployment. Such support is leading to an increase in the use of autonomous technology in mass transit. Additionally, a high proportion of people in the region are purchasing cars, and there is a wide base of affluent consumers.



Key players in the market

Some of the key players in Robotaxi Market include Tesla Inc., Didi Chuxing Technology Co, AutoX Inc, APTIV PLC, Uber Technologies Inc., Baidu Inc, GM Cruise, Waymo LLC, ZF Friedrichshafen AG, EasyMile SAS, Navya SA, Local Motors, Zoox, AB Volvo, May Mobility, Daimler AG, Ridecell, Inc., Voyage Auto, Inc, Fiat Chrysler Automobiles NV and Lyft Inc

Key Developments:

In August 2022, Lyft Inc., a ride-hailing company, collaborated with Motional, an autonomous vehicle firm, to launch its all-electric robo-taxi service in Las Vegas, the U.S.

In July 2022, Baidu launched a new Robo-taxi that comes with a detachable steering wheel. The company offers ride-hailing service for 50% less than other taxi fares.

In June 2022, Uber Technologies and Waymo LLC signed a long-term, strategic partnership to bring autonomous trucking solutions to market.

In March 2022, Waymo LLC, Alphabet’s autonomous driving technology company, announced plans to offer fully autonomous rides for its employees in San Francisco, the U.S.

Vehicle Types Covered:
• Van/Shuttle
• Car

Propulsion Types Covered:
• Fuel Cell
• Electric
• Hybrid
• Internal Combustion Engine Vehicles

Service Types Covered:
• Station based
• Car Rental

Components Covered:
• Radar
• Camera
• Ultrasonic Sensors
• Lidar

Applications Covered:
• Passenger Transportation
• Goods Transportation

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Robotaxi Market, By Vehicle Type
5.1 Introduction
5.2 Van/Shuttle
5.3 Car

6 Global Robotaxi Market, By Propulsion Type
6.1 Introduction
6.2 Fuel Cell
6.3 Electric
6.4 Hybrid
6.5 Internal Combustion Engine Vehicles

7 Global Robotaxi Market, By Service Type
7.1 Introduction
7.2 Station based
7.3 Car Rental

8 Global Robotaxi Market, By Component
8.1 Introduction
8.2 Radar
8.3 Camera
8.4 Ultrasonic Sensors
8.5 Lidar

9 Global Robotaxi Market, By Application
9.1 Introduction
9.2 Passenger Transportation
9.3 Goods Transportation

10 Global Robotaxi Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Tesla Inc.
12.2 Didi Chuxing Technology Co
12.3 AutoX Inc
12.4 APTIV PLC
12.5 Uber Technologies Inc.
12.6 Baidu Inc
12.7 GM Cruise
12.8 Waymo LLC
12.9 ZF Friedrichshafen AG
12.10 EasyMile SAS
12.11 Navya SA
12.12 Local Motors
12.13 Zoox
12.14 AB Volvo
12.15 May Mobility
12.16 Daimler AG
12.17 Ridecell, Inc.
12.18 Voyage Auto, Inc
12.19 Fiat Chrysler Automobiles NV
12.20 Lyft Inc

List of Tables
1 Global Robotaxi Market Outlook, By Region (2020-2028) ($MN)
2 Global Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
3 Global Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
4 Global Robotaxi Market Outlook, By Car (2020-2028) ($MN)
5 Global Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
6 Global Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
7 Global Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
8 Global Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
9 Global Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
10 Global Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
11 Global Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
12 Global Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
13 Global Robotaxi Market Outlook, By Component (2020-2028) ($MN)
14 Global Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
15 Global Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
16 Global Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
17 Global Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
18 Global Robotaxi Market Outlook, By Application (2020-2028) ($MN)
19 Global Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
20 Global Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)
21 North America Robotaxi Market Outlook, By Country (2020-2028) ($MN)
22 North America Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
23 North America Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
24 North America Robotaxi Market Outlook, By Car (2020-2028) ($MN)
25 North America Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
26 North America Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
27 North America Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
28 North America Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
29 North America Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
30 North America Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
31 North America Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
32 North America Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
33 North America Robotaxi Market Outlook, By Component (2020-2028) ($MN)
34 North America Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
35 North America Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
36 North America Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
37 North America Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
38 North America Robotaxi Market Outlook, By Application (2020-2028) ($MN)
39 North America Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
40 North America Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)
41 Europe Robotaxi Market Outlook, By Country (2020-2028) ($MN)
42 Europe Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
43 Europe Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
44 Europe Robotaxi Market Outlook, By Car (2020-2028) ($MN)
45 Europe Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
46 Europe Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
47 Europe Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
48 Europe Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
49 Europe Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
50 Europe Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
51 Europe Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
52 Europe Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
53 Europe Robotaxi Market Outlook, By Component (2020-2028) ($MN)
54 Europe Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
55 Europe Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
56 Europe Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
57 Europe Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
58 Europe Robotaxi Market Outlook, By Application (2020-2028) ($MN)
59 Europe Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
60 Europe Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)
61 Asia Pacific Robotaxi Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
63 Asia Pacific Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
64 Asia Pacific Robotaxi Market Outlook, By Car (2020-2028) ($MN)
65 Asia Pacific Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
66 Asia Pacific Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
67 Asia Pacific Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
68 Asia Pacific Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
69 Asia Pacific Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
70 Asia Pacific Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
71 Asia Pacific Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
72 Asia Pacific Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
73 Asia Pacific Robotaxi Market Outlook, By Component (2020-2028) ($MN)
74 Asia Pacific Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
75 Asia Pacific Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
76 Asia Pacific Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
77 Asia Pacific Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
78 Asia Pacific Robotaxi Market Outlook, By Application (2020-2028) ($MN)
79 Asia Pacific Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
80 Asia Pacific Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)
81 South America Robotaxi Market Outlook, By Country (2020-2028) ($MN)
82 South America Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
83 South America Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
84 South America Robotaxi Market Outlook, By Car (2020-2028) ($MN)
85 South America Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
86 South America Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
87 South America Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
88 South America Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
89 South America Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
90 South America Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
91 South America Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
92 South America Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
93 South America Robotaxi Market Outlook, By Component (2020-2028) ($MN)
94 South America Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
95 South America Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
96 South America Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
97 South America Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
98 South America Robotaxi Market Outlook, By Application (2020-2028) ($MN)
99 South America Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
100 South America Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)
101 Middle East & Africa Robotaxi Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Robotaxi Market Outlook, By Vehicle Type (2020-2028) ($MN)
103 Middle East & Africa Robotaxi Market Outlook, By Van/Shuttle (2020-2028) ($MN)
104 Middle East & Africa Robotaxi Market Outlook, By Car (2020-2028) ($MN)
105 Middle East & Africa Robotaxi Market Outlook, By Propulsion Type (2020-2028) ($MN)
106 Middle East & Africa Robotaxi Market Outlook, By Fuel Cell (2020-2028) ($MN)
107 Middle East & Africa Robotaxi Market Outlook, By Electric (2020-2028) ($MN)
108 Middle East & Africa Robotaxi Market Outlook, By Hybrid (2020-2028) ($MN)
109 Middle East & Africa Robotaxi Market Outlook, By Internal Combustion Engine Vehicles (2020-2028) ($MN)
110 Middle East & Africa Robotaxi Market Outlook, By Service Type (2020-2028) ($MN)
111 Middle East & Africa Robotaxi Market Outlook, By Station based (2020-2028) ($MN)
112 Middle East & Africa Robotaxi Market Outlook, By Car Rental (2020-2028) ($MN)
113 Middle East & Africa Robotaxi Market Outlook, By Component (2020-2028) ($MN)
114 Middle East & Africa Robotaxi Market Outlook, By Radar (2020-2028) ($MN)
115 Middle East & Africa Robotaxi Market Outlook, By Camera (2020-2028) ($MN)
116 Middle East & Africa Robotaxi Market Outlook, By Ultrasonic Sensors (2020-2028) ($MN)
117 Middle East & Africa Robotaxi Market Outlook, By Lidar (2020-2028) ($MN)
118 Middle East & Africa Robotaxi Market Outlook, By Application (2020-2028) ($MN)
119 Middle East & Africa Robotaxi Market Outlook, By Passenger Transportation (2020-2028) ($MN)
120 Middle East & Africa Robotaxi Market Outlook, By Goods Transportation (2020-2028) ($MN)

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