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Robo-Taxi Market

Robo-Taxi Market Size, Share and Segmentation by Automation Level (Level 4, Level 5), by Propulsion (Electric, Fuel cell, Hybrid), by Components (Camera, Radar, Lidar, Ultrasonic Sensors, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/AUTO/1835 | June 2022 | Region: Global | 120 Pages

Report Scope & Overview:

Robo-Taxi Market Size was valued at USD 1.07 billion in 2021 and is expected to reach USD 36.23 billion by 2028 and grow at a CAGR of 65.3% over the forecast period 2022-2028.

Robo-taxis are self-driving taxis that are autonomous cars that are operated by a mobility service that responds to requests for transportation on demand. They are cars that are capable of driving themselves without the need for any human intervention in their operation. Robo taxis are becoming increasingly popular as a result of the several advantages they offer, including enhanced fleet management and a lower total cost of ownership. The technology that allows Robo taxis to drive themselves autonomously is the primary factor in bringing down the cost of ownership to levels comparable to mass transit. When compared to the ownership of private vehicles, the overall cost of ownership of a fleet operator will be reduced by between 30 and 50 percent thanks to the introduction of Robo taxis.

Robo-Taxi Market Revenue Graph

Uber Inc. and Waymo are concentrating their efforts on the deployment of Robo-taxis primarily for on-demand mobility services that contribute to public transport, the public transport segment is anticipated to lead the Robo-taxi industry.

MARKET DYNAMICS: 

KEY DRIVERS: 

  • Intensification of actions taken by the government.

  • The Robo taxi market grows as a result of increased investments by the leading automation companies.

  • Robo-taxi development and innovation are on the rise, adding gasoline to the industry's fire.

  • Fuel-efficient and emission-free vehicles drive the market for robot taxis.

RESTRAINTS: 

  • A significant cost of research and development to implement.

  • The introduction of Robo taxi fleets is a difficult and time-consuming process because of their complexity.

OPPORTUNITIES: 

  • It is anticipated that the growth of smart cities would provide a large number of opportunities.

  • Legal barriers to testing self-driving vehicles have already been eased by governments.

CHALLENGES: 

  • There is a significant barrier to the widespread use of Robo-taxis because of their hefty initial expenditure.

  • It is anticipated that cybersecurity concerns would impede the expansion of the robot taxi sector.

  • It is anticipated that navigation in busy areas may provide difficulties for Robo taxis.

IMPACT OF COVID-19:

As a result of the widespread COVID-19 epidemic, a number of nations went into full lockdown for more than two months, which, in turn, had an effect on the manufacture of vehicles. Manufacturing facilities all around the world have been shut down, which has had a devastating effect on vehicle sales. However, the vast majority of automakers have started producing vehicles again, albeit at a reduced rate and with additional safety precautions. Lockdowns, a decrease in the demand for ridesharing services, and other factors contributed to market disruptions in the early phase of the Covid-19 initiative in the Robo taxi sector. Despite this, there was a rise in demand for Robo-taxis in the later period due to the fact that they have their own driving model.

KEY MARKET PLAYERS:

Waymo LLC, Cruise LLC, Tesla, Nissan Motor Corporation, Lyft, Inc., Uber Technologies, Daimler AG, Ford Motor Company, Volkswagen AG, and Volvo group are some of the affluent competitors with significant market share in the Robo-Taxi Market.

MARKET ESTIMATION: 

Market, By Automation Level:

Based on the automation level segment, the global market has been divided into level 4, and level 5. In the Robo-taxi market, the level 4 segment was the most dominating player. Level four Autonomous Robo-taxi services are available on specific routes, roads, and cities where the infrastructure is capable of supporting this type of service.

Market, By Propulsion:

The global market has been divided into electric, fuel cell, and hybrid based on the propulsion segment. The hybrid market is expected to grow rapidly during the next few years. Because of increasingly strict emission standards, the automobile industry is moving toward electrification. Hybrid vehicles have less downtime than fully electric vehicles, which lowers operational costs even further.

Market, By Components:

The global market has been divided into Camera, Radar, Lidar, Ultrasonic Sensors, and Others based on the components segment. These sensors have a short-range, which allows them to provide details of moving objects near the vehicle. On the other hand, they have a long-range, which allows them to provide details of high-speed oncoming vehicles. Together, they enable the vehicle to detect any object or obstacle in its path, thereby removing the possibility of an accident occurring.

MARKET SEGMENTATION:

By Automation Level:

  • Level 4

  • Level 5

By Propulsion:

  • Electric

  • Fuel cell

  • Hybrid

By Components:

  • Camera

  • Radar

  • Lidar

  • Ultrasonic Sensors

  • Others

Robo-Taxi Market Segment Chart

REGIONAL ANALYSIS:

The global market for Robo-taxis is divided into the following categories: North America, Europe, Asia-Pacific, and the rest of the world based on the region in which the market is located. Because of the expanding vehicle rental business in the United States and Canada, it is anticipated that North America would have a large growth during the time of the forecast. Additionally, the growing number of partnerships between firms that manufacture Robo-taxis and organizations that provide automobile services is anticipated to increase the demand for Robo-taxis in this region.

However, due to factors such as the expanding automotive fleet and the increased emphasis on vehicle safety, Asia-Pacific is anticipated to hold the largest market share throughout the duration of the projection period. In addition, the expanding investments in rob-taxi technology and the persistent enhancement of this technology will further fuel market growth in the Asia-Pacific region.

REGIONAL COVERAGE:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Robo-Taxi Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.07 Billion
Market Size by 2028 US$ 36.23 Billion
CAGR CAGR of 65.3% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Automation Level (Level 4, Level 5)
• by Propulsion (Electric, Fuel cell, Hybrid)
• by Components (Camera, Radar, Lidar, Ultrasonic Sensors, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Waymo LLC, Cruise LLC, Tesla, Nissan Motor Corporation, Lyft, Inc., Uber Technologies, Daimler AG, Ford Motor Company, Volkswagen AG, and Volvo group
Key Drivers •Intensification of actions taken by the government.

•The Robo taxi market grows as a result of increased investments by the leading automation companies.
RESTRAINTS •Intensification of actions taken by the government.

•The Robo taxi market grows as a result of increased investments by the leading automation companies.


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Robo-Taxi Market Segmentation, By Automation Level

8.1 Level 4

8.2 Level 5

 

9. Global Robo-Taxi Market Segmentation, By Propulsion

9.1 Electric

9.2 Fuel Cell

9.3 Hybrid

 

10. Global Robo-Taxi Market Segmentation, By Components

10.1 Camera

10.2 Radar

10.3 Lidar

10.4 Ultrasonic Sensors

10.5 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

 

12. Company Profiles

12.1 Robert Bosch GmbH,

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Waymo LLC

12.3 Cruise LLC

12.4 Tesla

12.5 Nissan Motor Corporation

12.6 Lyft, Inc.

12.7 Uber Technologies

12.8 Daimler AG

12.9 Ford Motor Company

12.10 Volkswagen AG

12.11 Volvo group

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

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