Robo-Taxi Market Expected to Grow at a CAGR of 124.6% during the Forecast Period 2019-2025

Robo-Taxi market crossed 1,600 units mark in 2018 and is expected to grow at a CAGR of 124.6% during the forecast period 2019-2025. In a pioneering leap into the future, Robo-taxi is basically a self-driving or a driverless car which was launched recently in the market. After years of focused and intensive testing in autonomous vehicles (SAE Level 4 or Level 5), today the companies have started to roll out such vehicles for e-hailing (on-demand mobility) service for regular commuters. The Robo-taxi generally eliminates the need of a human chauffeur, which costs a significant part of the operating costs. The Robo-taxi service could make shared mobility much more affordable to the commuters and is expected to boost the demand of Transportation-as-a-Service (TaaS) solutions, which will drive the growth of the Robo-taxi market over the analyzed period.

One of the most significantly adopted applications of the Robo-taxi include Autonomous Mobility on Demand (AMoD) service, especially in the metro regions. Autonomous Mobility on Demand (AMoD) is the solution that will drive the revolution towards self-driving cars. The AMoD is a technology comprising hardware, software, vehicle and its surrounding data that will improve the safety and economics of the ride. On an estimate, the Mobility on Demand (MoD) costs nearly US$ 2/mile, car ownership costs US$ 0.8/mile while AMoD costs US$ 0.3/mile. Hence, today, a number of companies are working on developing AMoD technology. In addition, increasing concern over road safety, emissions, reduction in road congestion and soaring demand for ride-hailing services are further expected to propel the growth of the Robo-taxi market over the projection period.

Request for Sample of the report - https://univdatos.com/request_form/form/180

Across the globe, governments and market players are currently focusing on promoting autonomous vehicles in public transportation and fleets, with emphasis on taxis, vans and shuttles. One of the biggest hurdles in the growth of Robo-Taxi market globally is the dearth of the required infrastructure. With increasing government support, several stakeholders are investing huge money in developing the required vehicle-to-infrastructure (V2I) systems, such as sensors inroads or street signs that send signals to AVs, helping autonomous vehicles navigate city streets seamlessly. Further, development of V2I technology such as dedicated short-range communications (DSRC) and cellular vehicle-to-everything (C-V2X) systems are in progress, which would further help autonomous vehicle such as Robo-taxi to widen its adoption in major developed and developing regions.

“Level 4 of Robo-Taxi Market dominated the market in 2018 and is expected to maintain its lead by 2025”

Based on level of autonomy, the Robo-Taxi market has been segmented into Level 4 and Level 5. In 2018, level 4 dominated the market and is expected to maintain its lead by 2025. The primary reason for the dominance of Level 4 vehicles is the lack of infrastructure for level 5 across major countries.

Browse Complete Report with TOC @ Robo-Taxi market

“Amongst propulsion type, hybrid Robo-taxi holds the major share in 2018, while the fuel cell is expected to grow considerably during the forecast period.”

Based on propulsion type, Robo-Taxi market has been segmented into hybrid, electric and fuel cell Robo-Taxi. In 2018, hybrid Robo-Taxi dominated the Robo-Taxi market, generating sales of 939 units. However, with increasing environmental concerns and depleting gasoline resources, it is expected that the electric Robo-Taxi market will take over hybrid Robo-Taxi in terms of sales over the forecast period.

“Passenger Robo-Taxi Market dominated the market in 2018 and is expected to follow its trend till 2025”

Based on vehicle type, the Robo-Taxi market has been segmented into passenger car, shuttle, and goods carrier van. In 2018, the passenger car dominated the market and is expected to maintain its lead throughout the forecast period 2019-2025. The primary reason for boosting the growth of passenger car segments over the other segments is due to an increasing preference for shared mobility services over individual vehicles.

“In terms of application, passenger transportation takes lead over the goods transportation of Robo-Taxi Market ”

Based on application, Robo-Taxi market is bifurcated into passenger and goods transportation. In 2018, passenger transportation Robo-taxi dominated the market and is expected to maintain its dominance throughout the forecast period, owing to increasing urbanization and people choice for opting a productive and comfortable ride while goods transportation Robo-taxi is expected to grow significantly over the analyzed period as e-commerce and other utility companies are going for self-driving vehicles to deliver their consignment to customers.

Feel free to contact us for any queries - https://univdatos.com/request_form/form/180

“North America holds more than 50% of the market share of Robo-Taxi Market in 2018 and is expected to remain the largest market over the forecast period”

Based on the region, a detailed analysis has been conducted to understand the overall rate of adoption of Robo-Taxi across the different regions including North America, Europe, Asia-Pacific and Rest of World. North America captured the maximum market share and is expected to remain the largest market over the forecast period. However, with increasing acceptance and huge population base with increasing disposable income, Asia-Pacific is expected to witness exponential grow over the analyzed period.

Robo-taxi market comprises of automakers, technology providers and service providers. As the concept is innovative and emerging, each player is trying their best to increase their market share and presence. The success of Robo-taxi is expected to change car-ownership and public-transportation dynamics at a fundamental level as it offers lower mobility costs, greater convenience and increased productivity as they free occupants from driving. The robo-taxi market is majorly dominated by large companies, accounting for nearly 75% market share. Some of the leading players operating in the market include Waymo, BMW, Tesla, Daimler, GM Cruise, Nissan-Renault and Volkswagen; while Navya, Aptiv, Nvidia, Valeo, Baidu, Uber, Lyft, eaymile are among others. These players are working endlessly to offer consumer a better and sustainable mobility service across the globe.

Robo-Taxi Market can be customized to the state level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

Smart Homes Technology Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025

Connected Car Market — Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2026

Solar Microinverter Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025

UnivDatos Market Insights (UMI)

Email: sales@univdatos.com

Web: www.univdatos.com