Robo Taxi Market is valued at USD 50.76 Million in 2017 and expected to reach USD 5598.37 Million by 2027 with a CAGR of 60.05% over the forecast period. Robo Taxi Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Demand for Autonomous and Safety Vehicles are key driving factors for the growth of Robo Taxi Market.
Robo Taxi or Driverless Taxi or Self-Driving Taxi operates at automation level of 4 or 5 as an autonomous vehicle in any ride sharing company. The driverless vehicles can accelerate the solutions like Transport-as-a-Service (TaaS) and eliminates the need of human driver and make it affordable service for customers. These services are cost and time effective especially in urban cities due to fast pace atmosphere. The first operational Robo Taxis introduced in the year 2016 by MIT NuTonomy to public and later other prominent Automobile Industries step into market with their services. The constant automation on global level resulted the positive growth towards autonomous vehicles by all countries and different organizations and governments are taking initiatives in modernization of transport system towards automated cars and trucks.
The COVID-19 Pandemic has affected all the industries as well as countries on a global level with changing scenario. On the other hand, constant ups and downs in the industries has affected the market growth. The pandemic has affected the travelling behavior in urban cities as citizens are hesitant to use public transport due to social distancing reforms. Across the globe, automobile industry has seen uncertainty in the market due to demand and supply chain and of projects around Robo Taxis were on hold. Now companies are changing their policies and ready for new future post COVID. Flexible features like disinfected vehicles & automated methods for passenger temperature checking, goods delivery and other hybrid safety features will grow the market and help to build the trust among consumers.
Global Robo Taxi Market report is segmented on the basis of Type, Components, Technology, Application and Region & country level. Based upon type, Global Robo Taxi market is classified into Light Vehicle and Heavy Vehicle. The market is classified on the basis of Components as Radar, Lidar, Ultrasonic sensors and Camera. On the basis of Technology it is classified as Electric, Fuel Cell and Hybrid. The market is classified on the basis of application as Passenger Vehicles and Goods Vehicles.
The regions covered in this Global Robo Taxi Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Robo Taxi is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
Some major key players for Global Robo Taxi Market are Cisco, Waymo, Tesla Robo-Taxi, Uber, Google, Renault-Nissan-Mitsubishi, Volkswagen, General Motors, Ford Motors, Delphi, BMW, Fiat Chrysler Automobiles, Bosch, Daimler AG, Honda, Lyft, Aptiv, Hyundai and others.
News: Driverless Robo Taxis are available publically in China
January 29, 2021; AutoX became first company in China to provide autonomous vehicles rides without safety drivers. After several months of rigorous testing, the vehicle is able to handle real time situations. The vehicles have combination of Radar, Lidar and blind spot sensors to get the feeling of real environment.
Robo Taxis are coming, Aptiv is brain behind it
January 11, 2021; A new system architecture or brain was announced by Aptiv for next generation Advanced Driver Assistance Systems (ADAS), a step closer to intelligent vehicles. The company’s system architecture includes improved sensors, software and computing tools along with zone controller. All the sensors in the car will be one of the four zones and controlling will be done centrally.
The major factors driving the growth of Global Robo Taxi Market are demand for Autonomous and Safety Vehicles. Reduced number of accidents, time saving & stress free parking with easy accessibility to transportation are expected to drive the Robo Taxi Market. As per the report in February, 2020 by Aptiv, their partnership with Lyft was successful by providing 100,000 commercial robo taxi rides in Las Vegas and 98% customers were fully satisfied by the service. Another report stated that around 1400 self-driving cars were on roads of The U.S. and over 10 million Autonomous Vehicles were estimated globally by 2020. Moreover, rising demand for fuel efficient vehicle as well as need for better road safety and traffic control features are also expected to contribute the market growth. However, High cost of R&D and implementation of Robo taxi along with rising concerns for cyberattacks are likely to hamper the growth of Robo Taxi market. On the other hand, rapid urbanization with supportive government initiatives and technological advancement are expected to create ample opportunities in the robo taxi market.
Asia-Pacific is expected to dominate the Global Robo Taxi Market within the forecast period attributed to adoption of autonomous vehicle very early and presence of prominent companies in this region. Furthermore, supportive government initiatives and technological advancement in the region is contributing to the market growth. North America is expected to hold the major market share owing to the development of electric vehicle and infrastructure in the region. On the other hand presence of rising awareness about low emission vehicle as well as rising demand for safe transport is also expected to augment the market growth.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 50.76 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 5598.37 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Cisco, Waymo, Tesla Robo-Taxi, Uber, Google, Renault-Nissan-Mitsubishi, Volkswagen, General Motors, Ford Motors, Delphi, BMW, Fiat Chrysler Automobiles, Bosch, Daimler AG, Honda, Lyft, Aptiv, Hyundai and others|
|Segments Covered||By Type, By Application, By Component, By Technology|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa
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