Global Robo-Taxi Market By Component (Camera, LiDAR, Radar, Ultrasonic Sensors), Application (Goods, Passenger), Service (Rental, Station-Based), Level of Autonomy (L4, L5), Propulsion (Electric, Fuel Cell, Hybrid), Vehicle (Car, Van/Shuttle), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Robo-Taxi Market
Global robo-taxi market is expected to register a healthy CAGR of 113.10% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed to the growing demand for autonomic, fuel efficient & emission free vehicles, and the need to eliminate road accidents improving the level of road safety.
Market Definition: Global Robo-Taxi Market
Robo-Taxi or Robo-Cab, are taxis that are self-driven, without a chauffeur. They are autonomous cars of autonomic level 4 or level 5 operated for a virtual hailing service. They are fuel efficient vehicles, which do not emit any harmful carbon gases, thereby protecting the environment. These eco-friendly automated vehicles, consume less battery, less cost, and thereby reduce the cost of operating cars.
- Eliminating drivers from taxis would reduce the overall operational cost, thereby making it cost-effective
- The need to reduce the level of accidents that arise due to manual errors to ensure safer roads a better traffic control would drive the growth of this market
- The need to reduce the level of carbon emissions from diesel operated cars and to move towards a more sustainable and eco-friendly environment stimulates the growth of this market
- The rising demand for autonomous vehicles, which consume less battery and less gass boosts the growth of robo-taxis
- The threat and tension that automation would replace the need for human chauffeurs. Thus, the resistance from chauffeurs would restrain the growth of this market
- High research and development cost would be required for the development of robo-taxis
- The rising threat from hackers restrains the growth of this market
Segmentation: Global Robo-Taxi Market
- Ultrasonic Sensors
- Goods Transportation
- Passenger Transportation
By Service Type
- Car Rental
By Level of Autonomy (LOA)
- Level 4
- Level 5
- Fuel Cell
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In December 2018, Waymo launched its first driverless robo taxi for commercial use. The launch of this robo-taxi marked the beginning of a new era in the field of automobiles and automation. Waymo would expand its services and operations, thereby would lead to an excellent growth in robo-taxi market globally.
- In July, 2018 Daimler AG and Bosch Corp, the largest automotive supplier have entered into a partnership to develop driverless taxis. The vehicle developed would be loaded with sensors, run by a strong and reliable energy-efficient computer, and an artificial intelligence software which would be acting as the virtual chauffeur. This partnership between the biggest players in the automobile industry, would revolutionise the entire automobile industry.
Competitive Analysis: Global Robo-Taxi Market
Global robo-taxi market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of robo-taxi market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Robo-Taxi Market
Few of the major competitors currently working in the robo-taxi market are Waymo LLC, Daimler AG., GM Cruise LLC., Aptiv., AB Volvo, Google, Ridecell, Inc, Tesla, Uber Technologies Inc., Volkswagen AG, Lyft, Inc., Ford Motor Company, General Motors., BMW AG, TOYOTA MOTOR CORPORATION, Robert Bosch GmbH, Continental AG, DENSO CORPORATION., NVIDIA Corporation and Mobileye among others.
Research Methodology: Global Robo-Taxi Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved