Robo-Taxi Market Expected to Grow at a CAGR of 124.6% during the Forecast Period 2019–2025
Robo-Taxi Market crossed 1,600 units mark in 2018 and is expected to grow at a CAGR of 124.6% during the forecast period 2019–2025. In a pioneering leap into the future, Robo-taxi is basically a self-driving or a driverless car which was launched recently in the market. After years of focused and intensive testing in the autonomous vehicles (SAE Level 4 or Level 5), today the companies have started to roll out such vehicles for e-hailing (on-demand mobility) service for regular commuters. The Robo-taxi generally eliminates the need of a human chauffeur, which costs a significant part of the operating costs. The Robo-taxi service could make shared mobility much more affordable to the commuters and is expected to boost the demand of Transportation-as-a-Service (TaaS) solutions, which will drive the growth of the Robo-taxi market over the analysed period.
One of the most significantly adopted applications of the Robo-taxi include Autonomous Mobility on Demand (AMoD) service, especially in the metro regions. Autonomous Mobility on Demand (AMoD) is the solution that will drive the revolution towards self-driving cars. The AMoD is a technology comprising hardware, software, vehicle and its surrounding data that will improve the safety and economics of the ride. On an estimate, the Mobility on Demand (MoD) costs nearly US$ 2/mile, car ownership costs US$ 0.8/mile while AMoD costs US$ 0.3/mile. Hence, today, a number of companies are working on developing AMoD technology. In addition, increasing concern over road safety, emissions, reduction in road congestion and soaring demand for ride-hailing services are further expected to propel the growth of Robo-taxi market over the projection period.
Request for Sample of the report / Feel free to contact us for any queries — https://univdatos.com/request_form/form/180
Across the globe, governments and market players are currently focusing on promoting autonomous vehicles in the public transportation and fleets, with emphasis on taxis, vans and shuttles. One of the biggest hurdles in the growth of Robo-Taxi market globally is the dearth of required infrastructure. With increasing government support, several stakeholders are investing huge money in developing the required vehicle-to-infrastructure (V2I) systems, such as sensors in roads or street signs that send signals to AVs, helping autonomous vehicles navigate city streets seamlessly. Further, development on V2I technology such as dedicated short-range communications (DSRC) and cellular vehicle-to-everything (C-V2X) systems is in progress, which would further help autonomous vehicle such as Robo-taxi to widen its adoption in major developed and developing regions.
“Level 4 of Robo-Taxi Market dominated the market in 2018 and is expected to maintain its lead by 2025”
Based on level of autonomy, Robo-Taxi market has been segmented into Level 4 and Level 5. In 2018, level 4 dominated the market and is expected to maintain its lead by 2025. The primarily reason for the dominance of Level 4 vehicle is lack of infrastructure for level 5 across major countries.
“Amongst propulsion type, hybrid Robo-taxi holds the major share in 2018, while fuel cell is expected to grow considerably during the forecast period.”
Based on propulsion type, Robo-Taxi market has been segmented into hybrid, electric and fuel cell Robo-Taxi. In 2018, hybrid Robo-Taxi dominated the Robo-Taxi market, generating sales of 939 units. However, with increasing environment concerns and depleting gasoline resources, it is expected that electric Robo-Taxi market will take over hybrid Robo-Taxi in terms of sales over the forecast period.
“Passenger Robo-Taxi Market dominated the market in 2018 and is expected to follow its trend till 2025”
Based on vehicle type, Robo-Taxi market has been segmented into passenger car, shuttle and goods carrier van. In 2018, passenger car dominated the market and is expected to maintain its lead throughout the forecast period 2019–2025. The primarily reason boosting the growth of passenger car segment over the other segments is due to increasing preference to shared mobility services over individual vehicle.
“In terms of application, passenger transportation takes lead over the goods transportation of Robo-Taxi Market ”
Based on application, Robo-Taxi market is bifurcated into passenger and goods transportation. In 2018, passenger transportation Robo-taxi dominated the market and is expected to maintain its dominance throughout the forecast period, owing to increasing urbanization and people choice for opting a productive and comfortable ride while goods transportation Robo-taxi is expected to grow significantly over the analysed period as e-commerce and other utility companies are going for self-driving vehicles to deliver their consignment to customers.
Browse Complete Report with TOC @ Robo-Taxi Market
“North America hold more than 50% of the market share of Robo-Taxi Market in 2018 and is expected to remain the largest market over the forecast period”
Based on region, detailed analysis has been conducted to understand the overall rate of adoption of Robo-Taxi across the different regions including North America, Europe, Asia-Pacific and Rest of World. North America captured the maximum market share and is expected to remain the largest market over the forecast period. However, with increasing acceptance and huge population base with increasing disposable income, Asia-Pacific is expected to witness exponential grow over the analysed period.
Robo-taxi market comprises of automakers, technology providers and service providers. As the concept is innovative and emerging, each player is trying their best to increase their market share and presence. The success of Robo-taxis is expected to change car-ownership and public-transportation dynamics at a fundamental level as it offers lower mobility costs, greater convenience and increased productivity as they free occupants from driving. Robo-Taxi market is majorly dominated by large companies, accounting for nearly 75% market share. Some of the leading players operating in the market include Waymo, BMW, Tesla, Daimler, GM Cruise, Nissan-Renault and Volkswagen; while Navya, Aptiv, Nvidia, Valeo, Baidu, Uber, Lyft, eaymile are among others. These players are working endlessly to offer consumer a better and sustainable mobility service across the globe.
Robo-Taxi Market can be customized to the state level or any other market segment. Besides this, UnivDatos Market Insights (UMI) understands that you may have your own business need, hence we also provide fully customized solutions to clients.
Contact us -
UnivDatos Market Insights (UMI)