Robo-Taxi Global Market
Introduction
Robo-taxis are self-driving taxis that are electric vehicles operated by an on-demand transportation operator. They are self-driving cars that need no human intervention to operate. With the advent of automation in cars, the market for self-driving vehicles has risen, contributing to the global development of robo-taxi.
Global Robo-Taxi Market Size and Potential Growth
In 2020, the global Robo-taxi market was valued at $0.50 billion. The global Robo-taxi market is expected to grow and reach $38.6 billion by 2030.
During the forecasted period 2021-2030, the global Robo-taxi market will be growing approximately at a CAGR of 54.44%.
Increased government policies and investment by the world’s leading companies in the automation and robotics industries have fueled the development of the global Robo taxi sector.
Market Segmentation
Global Robo-Taxi Market Share
By Region
In 2020, it is estimated that the North America region captured the highest market share of approximately 36% out of the total global Robo-taxi market.
Whereas, the Asia-Pacific region held approximately 34%, followed by Europe.
By Level of Autonomy
In 2019, it is estimated that the Level 4 segment captured the market share of approximately 98% out of the total global Robo-taxi market by the level of autonomy.
Whereas, the Level 5 segment held approximately 2%.
By Vehicles
In 2020, it is estimated that the Car segment captured the market share of approximately 83% out of the total global Robo-taxi market by vehicles.
Whereas, the Shuttle/Van segment held approximately 17%.
The Car segment is expected to maintain its lead throughout the forecast period 2020-2025.
By Applications
In 2020, it is estimated that the Passenger vehicles segment captured the market share of 80% out of the total global Robo-taxi market by applications.
Whereas, the Goods vehicles segment held approximately 20%.
Global Robo-Taxi Market Initiative Summary
1. It is expected that Tesla will be achieving a Robo-taxi network fleet size of 2.75 million vehicles by 2026.
2. It is expected that AutoX will be expanding to other Chinese cities to test their Robo-taxi service in 2023-2024.
3. Waymo will be expanding its Robo-taxi service to other U.S. cities for testing in 2022.
4. By 2023, it is expected that Cruise will be launching its first international Robo-taxi service in Dubai. The company is backed up by General Motors and Honda. The goal of the company is to scale up to at least 4,000 vehicles in Dubai by 2030.
Data Sources: Modor Intelligence, Science Direct, PRNewswire, AlliedMarketResearch, Fortune Business Insights, Markets and Markets, Verified Market Research
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