Robo-Taxi Market Size, Share, Growth Analysis, Forecast Report 2032

Robo-Taxi Market Insights

Zion Market Research has published a report on the global Robo-Taxi Market, estimating its value at USD 2.66 Billion in 2023, with projections indicating that it will reach USD 139.27 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 55.27% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Robo-Taxi industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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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 2018 to 2022 along with a forecast from 2024 to 2032 based on value (USD Billion).

Robo-Taxi Market: Overview

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.

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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.

Robo-Taxi Market: Growth Drivers

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. 

Robo-Taxi Market: Report Scope

Robo-Taxi Market: Regional Analysis

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.

Robo-Taxi Market: Competitive Analysis

Some of the leading players in the global market include:

• Aptiv
• EasyMile
• Waymo
• NAVYA
• Ridecell
• GM Cruise
• Uber Technologies

The global Robo-Taxi market is segmented as follows:

By Level of Autonomy Analysis

• L4
• L5

By Application Analysis

• Passenger Transport
• Goods Transport

By Service Analysis

• Station-Based
• Car Rental

By Vehicle Analysis

• Shuttle/Van
• Car

By Propulsion Analysis

• Hybrid
• Electric
• Fuel Cell

By Component Analysis

• Camera
• LiDar
• Radar
• Ultrasonic Sensors

By Region Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa