Robo-Taxi Market By Autonomy (Level 4 and Level 5), By Drive type (Electric and Fuel Cell), By Vehicle (Car and Van/Shuttle), By Application (Passenger Transportation and Goods Transportation), Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019-2026

Market Overview

Global Robo-Taxi Market is estimated to reach $XX Million by 2026; growing at a CAGR of XX% till 2026. A robo-taxi also is known as a robo-cab is a self-driving taxi or fully autonomous taxi. Several studies conducted throws a strong light on such robo-taxis that are operated in an Autonomous Mobility on Demand (AMoD) service and could be one of the most rapidly adopted applications of autonomous cars at a large scale and a major mobility solution in the near future, especially in urban areas. Moreover, people are booking robo-taxis, just the way they are booking cabs. Increasing developments and investments by companies in autonomous driving are expected to drive the robo-taxi market globally. Robo-taxis are reducing human efforts and is also helping to grow and expand the market.

Market Dynamics

Rising demand for fuel-efficient and electric vehicles worldwide and acquiring the autonomous vehicle market at a strong pace are key driving factors of the market. In addition, the demand for green vehicles is rising and also there is a high demand for autonomous cars, as the autonomous cars are electrical there is no harm to the environment. These factors propel the growth of the robo-taxi market at the global site. However, a high probability of cybersecurity threats and high R&D costs for implementation might hamper market growth. Moreover, emerging government regulations and reforms, surge in demand for robo-taxis to uplift urbanization, and better infrastructure would provide lucrative opportunities for the market in the coming years.

Market Segmentation

The global robo-taxi market is mainly classified based on autonomy, drive type, vehicle, and application. Autonomy is further classified into level 4 and level 5. By drive type, the market is divided into electric and fuel cells. By vehicle, the market is further bifurcated into a car and van/shuttle. By application, the global robo-taxi market is segregated as passenger transportation and goods transportation. Based on vehicle segments a lot of direct investments and testings are conducted by key manufacturers. With a strong opinion made by the industry experts the vehicle segment will contribute abundantly and will dominate the overall market. In addition, it will also record a satisfying annual growth rate i.e. CAGR by pinpointing good growth opportunities in the coming years.

Regional Analysis

Based on geography, the global robo-taxi market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. By geography, European regions allied with sub-regions have strongly upheld the market from the past and will continue to do so till the forecast time frame. Technological upgradations, supportive infrastructure, and a high rate of mobility are the factors that are responsible to take a strong lead in this region and unanimously striving hard to maintain the forefront position across geography.

Market Leaders

Key players operating in the robo-taxi industry include NAVYA, Aptiv, GM Cruise, Ridecell, Inc., Waymo, LLC, Uber Technologies Inc., and Easy Mile Baidu Inc. among others. For instance, in 2018, Waymo and Jaguar Land Rover announced their long-term partnership. Jaguar Land Rover and Waymo allied together to design self-driving Jaguar I-pace electric vehicles. Jaguar I-pace’s equipped Waymo’s self-driving technology and up to 20,000 I-pace’s built in the first two years, such that they are now servicing one million trips per day. On 10 June 2019- Easy mile, launched its new EZ10 electric driverless shuttle. The first vehicle without an on-board attendant and with better safety and comfort is being showcased on easy mile booth at global public transport summit 2019. First launched in April 2015, the EZ10 faced some first mile and last mile challenges, but the latest version of EZ10 which is launched in June 2019 is overcoming those last-mile challenges such as delivering on time, minimizing cost, and improving safety architecture. Furthermore, on November 18, 2019- NAVYA announced publicly about the new launching of an autonomous shuttle service that is full-fledged integrated for the service of the public transport network. The leading autonomous company supports technological developments with open arms. Moreover, over the next two years, the autonomous shuttle will offer regular service and would be available for a wide network of routes.

Robo-Taxi Market Key Segments:

By Autonomy

• Level 4
• Level 5

By Drive type

• Electric
• Fuel Cell

By Vehicle

• Car
• Van/Shuttle

By Application

• Passenger Transportation
• Goods Transportation

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC Countries
  • Egypt
  • South Africa
  • Rest of Middle East & Africa