ID: MRFR/AM/6461-HCR | February 2021 | Region: Global | 100 pages
Robo-Taxi Market is estimated to witness 53.8% CAGR during the forecast period.
The major key driving factors for the growth of this market are the growing demand for fuel efficient and environment friendly vehicles, increasing scope for vehicle-to-infrastructure communications, growing car services globally, and growing need for traffic control and better road safety.
The high investment and complex design of the robo-taxi along with increasing cybersecurity threats are some of the factors that are hindering market growth. However, the growing demand for autonomous vehicles or self-driving cars, robotics assistance system in vehicles, rapid urbanization, and developing economies of emerging countries are providing lucrative growth opportunities for the global market.
Competition amongst robo-taxi manufacturers and strict government regulations for fuel efficient and carbon-free emission vehicles has prompted manufacturers to design the taxis as per the regulations. This is one of the key factors responsible for the growth of this market.
The Prominent Players operating in the global robo-taxi market are Waymo LLC (US), Tesla Inc. (US), Robert Bosch Gmbh (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), General Motors (US), Lyft, Inc. (US), Aptiv (Ireland), GM Cruise LLC (US), Ridecell, Inc (US), Navya (France), and EasyMile (France).
Segmentation: Global Robo-Taxi Market
The global robo-taxi market is segmented on the basis of component, service type, vehicle type, propulsion, application, and region. On the basis of component, the global market has been segmented into lidar, radar, sensors, and others. The sensors segment is expected to witness significant growth during forecast period. On the basis of service type, the global market has been divided into station-based carsharing and car rental. The car rental segment is projected to hold larger sharer during the forecast period. On the basis of vehicle type, the global market has been divided into passenger car and commercial vehicle. The passenger car segment is expected to dominate the market throughout the study period due to the growing demand for ride-sharing services, globally. On the basis of propulsion, the global market has been segmented into electric, battery, and hybrid. On the basis of application, the global market has been divided into residential and non-residential. The non-residential segment is expected to grow with a higher CAGR during the forecast period.
Geographically, the global robo-taxi market has been segmented into four major regions- North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the highest market share throughout the forecast period, owing to rising automotive infrastructure and growing population in China, Japan, and India. Furthermore, Asia-Pacific is also expected to witness the highest growth during the forecast period due to the presence of developing countries with growing economies, rapid urbanization, growing robo-taxi industry, and increasing focus on environment and vehicle safety.
However, Europe is expected to witness a significant growth during the forecast period due to the presence of developed and supportive infrastructure for electric vehicles and automobile facilities across the EU. Furthermore, the presence of robo-taxi component manufacturers such as Robert Bosch, Continental AG, ZF Friedrichshafen AG, and Aptiv have also contributed in the growth of this region.
Robo-Taxi is an autonomous taxi operated for providing e-hailing (on-demand mobility) services. A robo-taxi is also known as robo-cab, self-driving taxi or a driverless taxi. For robo-taxis, control points might include critical technologies such as autonomous vehicle sensors, operating systems, or specific customer touchpoints. The major advantage of this type of taxi is that it could drastically reduce greenhouse gas emissions as it is expected to have lower energy consumption rates.
The report for the global robo-taxi market by Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||53.8% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Application, By Vehicle type, By EndMarket|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Waymo LLC (US), Tesla Inc. (US), Robert Bosch Gmbh (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), General Motors (US), Lyft, Inc. (US), Aptiv (Ireland), GM Cruise LLC (US), Ridecell, Inc (US), Navya (France), and EasyMile (France)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Increasing demand for autonomous cars and rising developments in robotics industry are expected to lead the expansion of the market.
The robo-taxi market is projected to expand at 53.8% CAGR.
Complex designs and high cost are supposed to check the growth of the robo-taxi market.
The sgements of the robo-taxi market, by service type, are car rental and station-based carsharing.
The major players are Waymo LLC (US), Robert Bosch Gmbh (Germany), Tesla Inc. (US), Continental AG (Germany), General Motors (US), Navya (France), ZF Friedrichshafen AG (Germany), Lyft, Inc. (US), GM Cruise LLC (US), Aptiv (Ireland), Ridecell, Inc (US), and EasyMile (France).
Currently, Tesla's Full Self Driving features include Smart Summon, which lets a driver call their Tesla to roll out from a parking spot to where they are standing, and Navigate on Autopilot, which can pilot the car from a highway on-ramp to an off-ramp, making necessary lane changes along the way.