RoboTaxi Market
Robo-Taxi Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 54.9% during forecast period of 2019 to 2027.
Robo-taxi is a self-driving taxi or an autonomous car. Robo-taxi operators and manufacturers are investing heavily for the deployment and testing of self-driving vehicles. Currently, testing and developments are seen in shuttles, vans, and cars. But as per the industrial experts, the rise in ride-sharing facilities, the robo-taxi market will dominate the overall market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Robo-Taxi Market Drivers and Restrains
To think about the enormous sales potential of robo-taxis in the public transport industry, auto giants are disappearing into the robo-taxi to leverage profitable opportunities. With protruding dynamics of the robo-taxi market commonly viewed through the technology of lens, the competitive landscape of the market is likely to be characterized by a mounting number of collaborations between technology and automakers companies, in the coming years.
Development of smart cities and increasing demand for connected cars using internet of things (IoT), will help to solve traffic problems and positive impact on the growth of robo-taxi market. Full-electric robo-taxis are already in demand because of stringency in worldwide government regulations for an emission-free environment. Furthermore, demand for the luxury cars, development in automotive sector, government regulation, high cost, and the burgeoning threat from hackers during driving also affect the growth of the robo-taxi market. These factors are anticipated to hamper the market growth.
In June 2019, Uber disclosed a third-generation of autonomous robo-taxis in partnership with Volvo in the United States (U.S). Also the company announced that it will begin with the testing of these cars by 2020. In 2018, Lyft joined with Aptiv Plc for its self-driving cars. Lyft has successfully completed 5,000 rides in 2018 through its ride hailing app. All these developments will be positive impact on the growth of robo-taxi market. Manufacturers in the Robo-Taxi are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Robo-Taxi Market Segmentation Analysis
In terms of application, the robo-taxi market has been bifurcated into Goods Transportation and Passenger Transportation. The increasing adoption of robo taxi in ride-hailing services and shared mobility is projected to drive the Passenger Transportation segment. Based on vehicle, the robo-taxi market has been classified into cars and shuttles. The cars segment is projected to hold a dominant share of the robo-taxi market, with companies such as Uber Inc., Waymo, Baidu, and Pony A.I. launching robo-taxis for the markets in Asia Pacific and North America. In terms of Autonomy, the robo-taxi market has been bifurcated into Level 4 (High Automation) and Level 5 (Full Automation). Furthermore, in level 5 no requirement of human interventions by eliminating the need for a steering wheel and pedals. Based on region, it is studied across Asia Pacific, North America, Europe, Latin America and Middle East Africa.
Robo-Taxi Market Regional Analysis
On the basis of region Robo-Taxi market divided into five region such as Asia Pacific, North America, Europe, Latin America, and Middle East Africa. Among all the regions, the North America had the largest market share in 2018 and is projected to lead the market during the forecast period. Because of both Canada and United States are anticipated to emerge as the top countries that grab the attention of market players with more profitable growth opportunities in the coming years. Furthermore, Europe is the second largest market in the Robo-Taxi Market by reasons of Favorable regulatory framework, sustained investments in infrastructure, consumer acceptance of autonomous driving, and the presence of key players in the Europe in terms of profits.
The objective of the report is to present comprehensive analysis of Robo-Taxi Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Robo-Taxi Market dynamics, structure by analyzing the market segments, and project the Robo-Taxi Market size. Clear representation of competitive analysis of key players by Robo-Taxi Type, price, financial position, product portfolio, growth strategies, and regional presence in the Robo-Taxi Market make the report investor’s guide.
Scope of the Robo-Taxi Market
Robo-Taxi Market, by Application type,
• Goods Transportation
• Passenger Transportation
Robo-Taxi Market, by Autonomy
• Level 4
• Level 5
Robo-Taxi Market, by Vehicle type
• Car
• Shuttle/Van
Robo-Taxi Market, by Propulsion
• Electric
• Hybrid
• Fuel Cell
Robo-Taxi Market, by Component
• Camera
• Radar
• LiDAR
• Ultrasonic Sensors
Robo-Taxi Market, by Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Robo-Taxi Market, Major Players
• Lyft
• DiDi
• Baidu
• Didi Chuxing
• Weride
• Auro Ridecell
• Drive.AI
• Local Motors
• May Mobility
• Optimus Ride
• Pony.AI
• Voyage
• Zoox
• Easymile
• Transdev
• ZF
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