Global Robotaxi Market - Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2018-2028 By Vehicle Type (Car, Van/Shuttle), By Level of Autonomy (Level 4, Level 5), By Propulsion Type (Electric, Fuel Cell), By Service Type (Car Rental, Station-Based), By Component (Camera, LiDAR, Radar, Ultrasonic Sensors), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: January 2022
- Report ID: BWC22011
- Available Format: PDF
- Page: 194
Report Overview
The global robotaxi market is gaining significant traction owing to the increasing investment by automobile manufacturers in the development of robotaxi along with rising demand for cutting down mobility costs in the commercial goods transportation industry.
Global Robotaxi Market- Industry Trends & Forecast Report 2028
The global robotaxi market was worth USD 0.5 billion in 2021 and is further projected to reach USD 20.3 billion by the year 2028, growing at a whopping CAGR of 69.4% during the forecast period (2021-2028). Due to the increasing investment by automotive manufacturers in the development of robotaxi and the increasing demand to cut down mobility costs for commercial goods transportation, the market is gaining significant traction. Furthermore, growing concerns surrounding road safety, along with surging demand for energy-efficient vehicles, are anticipated to propel the growth of the global robotaxi market during the forecast period.
Robotaxi Market- Overview
A robotaxi is a self-driving taxi, mainly designed for commercial use for a ridesharing company. Robotaxi eliminates the cost of operating a vehicle and popularizes Transportation as a Service (TaaS) in the market. Moreover, robotaxis function as a taxi in an e-hailing service, and passengers can request one using smartphone applications. Waymo, the Google self-driving car project, was the first company to offer robotaxi services to the public.
Robotaxi Market Forecast and Trends
Growth Drivers
Increasing Commercial Application of Robotaxis
Robotaxis for car rental applications is becoming increasingly common on roads. Local governments are increasingly permitting the use of autonomous vehicles and are approving the policies. For instance, the California Public Utilities Commission has recently approved two new programs that permit the companies to provide and charge for shared rides in autonomous vehicles. China has also approved autonomous taxis for commercial use in Beijing.
Robotaxi Launches are on the Rise
The robotaxi market has great potential, which is attracting automobile manufacturers. More and more manufacturers are launching robotaxis in order to compete in the market and become market leaders. For instance, Hyundai and Motional, an autonomous vehicle developer, recently unveiled the IONIQ 5-based robotaxi, an SAE Level 4 vehicle. Likewise, Zoox, an American autonomous vehicle startup, has also developed the electric robotaxi, a multidirectional four-person vehicle. These types of launches are anticipated to boost the market growth during the forecast period.
Restraints
High Risks of Hacking in Autonomous Vehicles
Despite a lot of attention on preventing potential hacking of the robotaxi system, it remains unattended, which raises a lot of concerns for its market growth. A new report from the European Union Agency for Cybersecurity (ENISA) and the Joint Research Centre (JRC) raises concerns about the IT system used in autonomous vehicles and robotaxis' vulnerability to attacks that could damage their performance. These alleged attacks refer to malicious machine-based learning attacks, such as poisoning and evasion.
Impact of COVID-19 on the Global Robotaxi Market
The robotaxi market was negatively halted by the sudden COVID-19 pandemic outbreak. Countries imposing lockdowns in order to combat viral spread hindered vehicle production in different regions, which directly impacted the robotaxi market. The production, as well as the research and development activities of robotaxis, were temporarily halted during this period, due to which the manufacturers had to incur huge losses. However, the market is anticipated to witness substantial growth in the forecast period owing to the increasing focus towards cutting down carbon emission and the use of non-renewable energy sources post the COVID-19 outbreak.
Global Robotaxi Market - By Vehicle Type
Based on vehicle types, the robotaxi market is segmented into car and van/shuttle. The car segment holds the largest market share due to the increasing application of the robotaxis for car rentals. The manufacturers are focusing on developing self-driving vehicles to cut down the operational costs incurred on human drivers. Companies such as Uber and Baidu are already testing robotaxi rental services in Tier 1 cities. However, the van/shuttle segment is also estimated to witness substantial growth during the forecast period.
Global Robotaxi Market - By Level of Autonomy
Based on the level of autonomy, the robotaxi market is segmented into level 4 and level 5. The level 4 autonomy accounts for the largest share in the market. Most robotaxis in the market as of today are under level 4 of autonomy in which a car cockpit is included so that a human driver can still request control. However, the level 5 autonomy is anticipated to witness the highest CAGR during the forecast period as major OEMs including Tesla and Uber are investing in developing full automation robotaxis.
Global Robotaxi Market - Regional Insights
Geographically, the global robotaxi market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the robotaxi market owing to the development of new and innovative technologies. Emerging economies, such as China, Japan, South Korea, etc., are already the market leaders in the automotive industry. China is emerging as the fastest-growing region in the market with robotaxi already under public trial for rides. North America, on the other hand, is also growing at a high rate due to the high concentration of leading market players, such as Waymo and Tesla.
Global Robotaxi Market- Competitive Landscape
The leading players in the robotaxi market are Waymo LLC, Volvo Group, General Motor Company, Volkswagen AG, Tesla, Ford Motor Company, Nissan Motor Corporation, Daimler AG, Lyft, Inc., Uber Technologies, Cruise LLC, Baidu, AutoX, BMW AG, Toyota Motor Corporation, Denso Corporation, Robert Bosch GmbH, Continental AG, NVIDIA Corporation, and other prominent players.
The robotaxi market is highly competitive and consolidated due to the presence of leading multinational automobile manufacturers, such as Tesla, Toyota, BMW, etc. The companies significantly focus on offering a wide range of different types of electric cars and battery capacity to suit the needs of end-users. They are also investing in research and development activities to bring innovations into their offering. Furthermore, the adoption of competitive strategies such as mergers, acquisitions, partnerships, and collaborations, etc., is very prominent in this market.
Global Robotaxi Market- Recent Developments
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In January 2022, Waymo, autonomous tech developer, and Zeekr, Chinese electric mobility technology, and solutions company announced their partnership to design and engineer an electric robotaxi vehicle as a part of a ride-hailing fleet of Level 4 autonomous vehicles for the US market.
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In December 2021, SAIC Mobility, a unit of Chinese automotive design and manufacturing company SAIC Motor, announced the commencement of autonomous robotaxi test rides to the public in Shanghai.
Scope of the Report:
|
Attributes |
Details |
|
Years Considered |
Historical data – 2018-2021 |
|
Base Year – 2021 |
|
|
Forecast – 2022 – 2028 |
|
|
Facts Covered |
Revenue in USD Billion |
|
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
|
Product Service/Segmentation |
By Vehicle Type, By Level of Autonomy, By Propulsion Type, By Service Type, By Component, By Region |
|
Key Players |
Waymo LLC, Volvo Group, General Motor Company, Volkswagen AG, Tesla, Ford Motor Company, Nissan Motor Corporation, Daimler AG, Lyft, Inc., Uber Technologies, Cruise LLC, Baidu, AutoX, BMW AG, Toyota Motor Corporation, Denso Corporation, Robert Bosch GmbH, Continental AG, NVIDIA Corporation, and other prominent players. |
By Vehicle Type
-
Car
-
Van/Shuttle
By Level Of Autonomy
-
Level 4
-
Level 5
By Propulsion Type
-
Electric
-
Fuel Cell
By Service Type
-
Car Rental
-
Station-Based
By Component
-
Camera
-
LiDAR
-
Radar
-
Ultrasonic Sensors
By Region
-
North America
-
Europe
-
Asia-Pacific (APAC)
-
Latin America (LATAM)
-
Middle-East & Africa (MEA)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increasing Focus Towards Better Road Safety
- Rising Number Of Robotaxi Launches
- Restraints
- High Risks Of Hacking In Autonomous Vehicles
- Opportunities
- Increasing Demand For Electric Robotaxi
- Surging Use Of Robotaxi For Car Rental Application
- Challenges
- Negative Impact of the COVID-19 Pandemic
- Growth Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Robotaxi Market Overview
- Market Estimates & Forecast by Value, 2018-2022
- Market Share & Forecast, by Segment
- By Vehicle Type
- Car
- Van/Shuttle
- By Level Of Autonomy
- Level 4
- Level 5
- By Propulsion Type
- Electric
- Fuel Cell
- By Service Type
- Car Rental
- Station-Based
- By Component
- Camera
- LiDAR
- Radar
- Ultrasonic Sensors
- By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- By Vehicle Type
- North America Robotaxi Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2022
- Market Share and Forecast
- By Vehicle Type
- By Level of Autonomy
- By Propulsion Type
- By Service Type
- By Component
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Robotaxi Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2022
- Market Share and Forecast
- By Vehicle Type
- By Level of Autonomy
- By Propulsion Type
- By Service Type
- By Component
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Market Size and Forecast
- APAC Robotaxi Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2022
- Market Share and Forecast
- By Vehicle Type
- By Level of Autonomy
- By Propulsion Type
- By Service Type
- By Component
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Robotaxi Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2022
- Market Share and Forecast
- By Vehicle Type
- By Level of Autonomy
- By Propulsion Type
- By Service Type
- By Component
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Robotaxi Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2018-2022
- Market Share and Forecast
- By Vehicle Type
- By Level of Autonomy
- By Propulsion Type
- By Service Type
- By Component
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share / Ranking Analysis (2021)
- Competitive Benchmarking, By Operating Parameters
- Impact of COVID-19 on Robotaxi Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Waymo LLC
- Volvo Group
- General Motor Company
- Volkswagen AG
- Tesla
- Ford Motor Company
- Nissan Motor Corporation
- Daimler AG
- Lyft, Inc.
- Uber Technologies
- Cruise LLC
- Baidu
- AutoX
- BMW AG
- Toyota Motor Corporation
- Denso Corporation
- Robert Bosch GmbH
- Continental AG
- NVIDIA Corporation
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Robotaxi Market Segmentation
Figure 2 : Robotaxi Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2021
Figure 4: Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 5: Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 6: Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 7: Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 8: Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 9: Robotaxi Market Share (%), By Component, By Value, 2018-2022
Figure 10: Robotaxi Market Share (%), By Region, By Value, 2018-2022
Figure 11: North America Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 12: North America Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 13: North America Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 14: North America Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 15: North America Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 16: North America Robotaxi Market Share (%), By Component, By Value, 2018-2022
Figure 17: North America Robotaxi Market Share (%), By Country, By Value, 2018-2022
Figure 18: Europe Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 19: Europe Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 20: Europe Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 21: Europe Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 22: Europe Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 23: Europe Robotaxi Market Share (%), by Component, By Value, 2018-2022
Figure 24: Europe Robotaxi Market Share (%), By Country, By Value, 2018-2022
Figure 25: Asia-Pacific Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 26: Asia-Pacific Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 27: Asia-Pacific Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 28: Asia-Pacific Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 29: Asia-Pacific Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 30: Asia-Pacific Robotaxi Market Share (%), By Component, By Value, 2018-2022
Figure 31: Asia-Pacific Robotaxi Market Share (%), By Country, By Value, 2018-2022
Figure 32: Latin America Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 33: Latin America Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 34: Latin America Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 35: Latin America Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 36: Latin America Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 37: Latin America Robotaxi Market Share (%), By Component, By Value, 2018-2022
Figure 38: Latin America Robotaxi Market Share (%), By Country, By Value, 2018-2022
Figure 39: Middle East & Africa Robotaxi Market Size, By Value (USD Billion), 2018-2022
Figure 40: Middle East & Africa Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022
Figure 41: Middle East & Africa Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022
Figure 42: Middle East & Africa Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022
Figure 43: Middle East & Africa Robotaxi Market Share (%), By Service Type, By Value, 2018-2022
Figure 44: Middle East & Africa Robotaxi Market Share (%), By Component, By Value, 2018-2022
Figure 45: Middle East & Africa Robotaxi Market Share (%), By Region, By Value, 2018-2022
List of Tables
Table 1: Robotaxi Market Size, By Vehicle Type, By Value, 2018-2022
Table 2: Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 3: Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 4: Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 5: Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022
Table 6: Robotaxi Market Size, By Region, By Value (USD Billion), 2018-2022
Table 7: North America Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022
Table 8: North America Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 9: North America Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 10: North America Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 11: North America Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022,
Table 12: Europe Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022
Table 13: Europe Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 14: Europe Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 15: Europe Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 16: Europe Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022
Table 17: the Asia-Pacific Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022
Table 18: the Asia-Pacific Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 19: the Asia-Pacific Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 20: the Asia-Pacific Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 21: the Asia-Pacific Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022
Table 22: Latin America Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022
Table 23: Latin America Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 24: Latin America Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 25: Latin America Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 26: Latin America Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022
Table 27: The Middle-East & Africa Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022
Table 28: The Middle-East & Africa Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022
Table 29: The Middle-East & Africa Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022
Table 30: The Middle-East & Africa Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022
Table 31: The Middle-East & Africa Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022
Table 32: Waymo LLC Financial Analysis
Table 33: Waymo LLC Business Overview
Table 34: Volvo Group Financial Analysis
Table 35: Volvo Group Business Overview
Table 36: General Motor Company Corporation Financial Analysis
Table 37: General Motor Company Corporation Business Overview
Table 38: Volkswagen AG Financial Analysis
Table 39: Volkswagen AG Business Overview
Table 40: Tesla Financial Analysis
Table 41: Tesla Business Overview
Table 42: Ford Motor Company Financial Analysis
Table 43: Ford Motor Company Business Overview
Table 44: Nissan Motor Corporation Financial Analysis
Table 45: Nissan Motor Corporation Business Overview
Table 46: Daimler AG Financial Analysis
Table 47: Daimler AG Business Overview
Table 48: Lyft, Inc. Financial Analysis
Table 49: Lyft, Inc. Business Overview
Table 50: Uber Technologies Financial Analysis
Table 51: Uber Technologies Business Overview
Table 52: Cruise LLC Financial Analysis
Table 53: Cruise LLC Financial Analysis
Table 54: Baidu Financial Analysis
Table 55: Baidu Financial Analysis
Table 56: AutoX Financial Analysis
Table 57: AutoX Financial Analysis
Table 58: BMW AG Financial Analysis
Table 59: BMW AG Financial Analysis
Table 60: Toyota Motor Corporation Financial Analysis
Table 61: Toyota Motor Corporation Financial Analysis
Table 62: Denso Corporation Financial Analysis
Table 63: Denso Corporation Financial Analysis
Table 64: Robert Bosch GmbH Financial Analysis
Table 65: Robert Bosch GmbH Financial Analysis
Table 66: Continental AG Financial Analysis
Table 67: Continental AG Financial Analysis
Table 68: NVIDIA Corporation Financial Analysis
Table 69: NVIDIA Corporation Financial Analysis
Market Segmentation
By Vehicle Type
-
Car
-
Van/Shuttle
By Level Of Autonomy
-
Level 4
-
Level 5
By Propulsion Type
-
Electric
-
Fuel Cell
By Service Type
-
Car Rental
-
Station-Based
By Component
-
Camera
-
LiDAR
-
Radar
-
Ultrasonic Sensors
By Region
-
North America
-
Europe
-
Asia-Pacific (APAC)
-
Latin America (LATAM)
-
Middle-East & Africa (MEA)
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