Robo-Taxi Market – 2020-2026
Robo-Taxi Market – 2020-2026
Summary:
A Robo-Taxi, also known as a Robo-Cab, a self-driving taxi or a driverless taxi is an autonomous car (SAE Level 4 or 5) operated for an e-hailing (on-demand mobility) service. The fact of eliminating the need for a human chauffeur, which represents a significant part of the operating costs of that type of services, could make it a very affordable solution for the customers and accelerate the spreading of Transportation-as-a-Service (TaaS) solutions as opposed to individual car ownership. However, it raises the issue of job destruction.
The Robo-taxi market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 120.52% during the forecast period (2020 – 2025).
This report is designed by keeping in view the current market conditions of the market named Robo-Taxi. The report focuses on the market fundamentals, product descriptions and the current trend of the service across the globe. This report presents market shares, current trends and the growth opportunities of the Robo-Taxi market by analysing historical data and future prospects. The market dynamics as well as the growth factors for the market have well been elaborated in the report. The main aim of the report is to reach the business owners as much as possible by releasing the best possible business solution to them.
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Understanding the segments helps in identifying the importance of different factors that aid the market growth.
- The growing issues of traffic congestion in major cities around the world, increasing pollution and adversely impacting health and overall quality of life. The demand for zero-emission vehicles or green vehicles is rising, also there is surge in autonomous cars demand.
- Currently, three trends are accelerating transformative change in automotive industry which are zero-emission vehicles, autonomous driving and new mobility models. Autonomous, zero-emission Robo-taxis embody all three of these trends, offering the potential for convenient, personalized transport as an attractive alternative to owning a car or using public transport.
- Robo-taxis are still in testing phases and carries a baggage of challenges which includes, high manufacturing cost, the risk of injury to drivers and pedestrians, lack of proper government regulations and inadequate infrastructure for operating Robo-Taxis. These factors are likely to hinder the growth of the robo-taxi market.
- However, Robo-taxis also provide an opportunity to significantly increase traffic capacity by reducing safe stopping distances between cars. As robots can react almost instantly, it is reasonable to reduce the enforced safe distance while still expecting higher safety levels.
Drivers and Risks
There are many factors that lie behind the development of the Robo-Taxi market. The increased awareness among the consumers of different background and their interest to the diverse product range has boosted the market to a great extent. Holding the high status and money, the people of different background are showing their interest to have such services of the Robo-Taxi market. Apart from that, lack of awareness among the business owners regarding the adoption of technology in the development of the product posing the threat to the market.
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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
Robo-Taxis Are Attracting People Around the World
Almost all the vehicle manufacturers are testing and launching electric and autonomous vehicles around the world. Majority of the manufacturers are testing autonomous taxis for seeing the results and response of people. Globally, people are welcoming the robo-taxi concept based on which the technology and vehicle manufacturing companies have started working on it.
In 2018, a survey conducted globally around automotive megatrends. According to the survey;
- Consumers without cars would be likely to use autonomous vehicle-based mobility services to replace journeys by both conventional car and public transport. Approximately 45% of people without regular access to car are ready to use Robo-taxis instead of conventional public transport. Nearly 25% of people would use Robo-taxis instead of conventional taxis.
- However, for car owners to switch to Robo-taxis, they would need to be convinced that Robo-taxis would at least match the experience in the key areas of independence, comfort and convenience.
As soon as Robo-taxis are perceived as being more convenient than cars which they certainly have the potential to be then the demand for car-based mobility will increase.
Europe is Likely to Dominate the Robo-Taxi Market
The Robo-Taxi market is anticipated to be lead by Europe followed by China and United states respectively. European is the leading region which is providing advanced mobility technology and supportive infrastructure for the Robo-taxi market. Majority of the fleet- operators who are working on Robo-taxi have found favorable business environment from all the perspective such as regulatory framework that support environment-driven vehicle technologies in the region.
China is also rapidly working on the Robo-taxi concept. For Instance, Didi Chuxing, China’s leading taxi service providing company is developing autonomous driverless cars. Its technology partner is an electric car startup called CHJ Auto. Together they are working to create an all-electric robotaxi that can shuttle passengers around China’s crowded megacities with no drivers at all.
Regional Description
The availability of the services with high volume have made the regional markets strong. There are many key areas where the market has gained popularity and place within a short period of time. Some of the key regions are—the UK, France, Germany, Spain, Italy, Russia, Poland, Switzerland, Denmark, the USA, Canada, Mexico, India, Japan, Korea, China, Australia, New Zealand, Malaysia, Philippines, Indonesia, South Africa, Turkey, UAE, Saudi Arabia, Nigeria, and many more countries.
Method of Research
There are many methodologies taken into granted for researching the market. A SWOT analysis has been established aiming to see the strength, weakness, opportunity and threat of the market Robo-Taxi in the future. Though, the current market status is quite strong, yet precautionary measures needs to be taken in order to stay updated about the market. Apart from that, method of PORTER’s analysis has been made aiming to target the consumers of all the key regions of the world easily.
Key Players
Depending on the unlimited resources and skill, the prominent players of the Robo-Taxi market have been excelling well over the many years across the world. Their years of hard work and effort have made the market possible to reach millions of houses across the world. Their growing interest in machines and technology would bring positive output in the years to come. Therefore, the Robo-Taxi market is able to capture the consumers’ mind easily in the coming years.
Competitive Landscape
The Robo-taxi Market is in nascent stage due to the market has limited number of players who are operating which includes NAVYA, Uber Technologies Inc., Waymo LLC, EasyMile, Didi Chuxing Technology Co., AB Volvo, Baidu Inc., and amongst others.
Table of Content: Robo-Taxi Market 2026
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
…
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
16 Appendix
Continued …
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