The rise in popularity of robotaxis among consumers as a means to circumvent traffic jams, boost passenger safety, and cut down on the number of people killed on the roads is projected to be the primary factor that propels the worldwide robotaxi market over the forecast period. For example, in October 2020, the self-driving car firm Waymo, which is owned by Alphabet, debuted driverless taxi service to the general public in Phoenix, Arizona. Waymo is a subsidiary of Google's parent company, Alphabet.In addition, governments in industrialized nations are concentrating their efforts on developing autonomous taxis in order to make public transit more secure and convenient for their citizens. For example, in June 2021, the California Public Utilities Commission, a state body, gave a permission to Cruise LLC (which is funded by GM and Honda) to offer robotaxi service in the state of California without requiring a safety driver to be present in the car.
The global Robotaxi Market was valued at US$ 840.6 million in 2021 and is expected to reach 24,322.8 million by 2028, exhibiting a CAGR of 61.72% between 2021 and 2028.
Leading Companies in the Robotaxi Industry:
1. AutoX, Inc
AutoX, Inc was founded in 2016 and its headquarter in San Jose, California.. The company operates in 35 countries. In2022 Autonomous vehicle startup AutoX announced the public launch of of its self-driving taxi service in Shanghai today. Called simply RoboTaxi
2. Baidu,
Baidu ,founded in 2000, and it’s located in Beijing, China. The company operates in 160 countries. In 2022 The new battery-electric robotaxi is Baidu's sixth-generation autonomous vehicle and the first model built on its Xinghe self-driving.