The report offers valuation and analysis of Robo-taxi market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Key Growth Drivers
Escalating concerns over fuel emissions, road safety issues, and escalating popularity for ride-sharing vehicles will boost the market trends over the forecast period. Furthermore, self-driven cars are predicted to raise the cost of the fleet operators. This will help the market gain momentum over the forthcoming years. Apart from this, new business models such as “mobility as a service” can prove to be profitable & sustainable revenue source for the market over the coming years.
Moreover, the disruptive power of these self-driven taxis in autonomous driving is predicted to bring a paradigm shift in the automotive sector over the coming years. Furthermore, these new self-driven cars are expected to enhance the shared mobility and enable the vehicle connectivity. Additionally, these Robo-taxis will include electric powertrains that will reduce the operating costs for fleet authorities.
Our report also provides the current developments taking place in the industry along with the competitive moves & strategies implemented by the market players to expand their business. Let us discuss about some of the reputed brands in the Robo-taxi industry.
In last week of January 2020, Cruise LLC, an autonomous vehicle unit of General Motors Company, launched an autonomous all-electric ride-sharing shuttle developed in association with Honda Motor. The autonomous driverless vehicle referred as Origin is likely to be developed at the GM’s Detroit-Hamtramck factory in the U.S. Moreover, the introduction of the driverless vehicle is a part of the revitalization effort at the unit and GE has committed to spend USD 2.2 billion for building the electric & self-driven vehicles at the factory unit.
In January 2020, Waymo, the self-driving unit of Google’s parent firm Alphabet, partnered with UPS, a shipping & logistics firm based in the U.S., for testing of its autonomous delivery vehicles. Reportedly, Waymo’s autonomous vans referred as Chrysler Pacifica minivans will bring packaged from the UPS store sites at Metro Phoenix to a UPS sorting unit at Tempe, Arizona in the U.S. for processing purpose.
Moreover, the European market is likely to have huge growth potential and is predicted to majorly impact the overall market revenue share over the forecast period. The growth is attributed to the presence of key players in the region along with easy availability of robust electric charging infrastructure facility in the region. Introduction of new models of electric vehicles by the firms like Tesla along with supportive government policies in Europe will boost the regional market growth.
Key players leveraging the industry growth and profiled in the report are:
The global Robo-Taxi market is segmented as follows:
By Level of Autonomy