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.
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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.
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.
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“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.
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“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.
UnivDatos
Market Insights (UMI)
Email:
sales@univdatos.com
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