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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Robotaxi are autonomous vehicles that aim to provide on-demand ride-sharing services. These vehicles usually belong to the four and five levels of autonomy and are equipped with various cameras, RADAR, LiDAR, and other sensors.

Consumers are preferring robotaxi’s in order to avoid traffic congestion, enhance passenger safety, and reduce road fatalities is likely to drive the global robotaxi market over the forecast period. For instance, in October 2020, self-driving car company Waymo, owned by Google’s parent company Alphabet introduced driverless taxi service to the general public in Phoenix, Arizona.

Furthermore, governments of the developed countries are focusing on the self-driving taxis in order to provide safe and better public transportation. For instance, in June 2021, The California Public Utilities Commission, a government agency issued permit to Cruise LLC (funded by GM and Honda) to offer robotaxi service in California with no safety driver in the vehicle.

However, increasing concerns and threats pertaining to cyberattacks are likely to challenge the global robotaxi market growth. The global robotaxi market accounted for US$ 840.6 Mn in terms of value in 2021, and is expected to grow at a CAGR of 61.72% for the period 2021-2028.

Global Robotaxi Market - Impact of Coronavirus (Covid-19) Pandemic

The initial phase of COVID-19 pandemic greatly impacted the robotaxi market due to lockdowns, lower demand for ridesharing services, other reasons. However, in the later period when different countries started with releasing the restrictions, the demand for robotaxi’s increased. Companies such as Pony.ai, GM’s Cruise, and Waymo are launching contactless last-mile delivery service during COVID-19. For instance, in April 2020, Pony.ai, an autonomous driving technology company, collaborated with Yamibuy, an e-commerce platform based in Los Angeles, to provide an autonomous and contactless last-mile delivery service to customers in Irvine, California. The new delivery service will provide additional capacity to address the surge of online orders triggered by the COVID-19 pandemic.

Statistics:

Asia Pacific held dominant position in the global robotaxi market in 2020, accounting for 40.66% share in terms of value, followed by Europe and North America.

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Robotaxi Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 840.6 million
Historical Data for: 2017 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 61.72% 2028 Value Projection: US$ 24,322.8 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Vehicle: Shuttle/Van, Car
  • By Service: Rental, Station based
  • By Propulsion: Electric, Fuel Cell
  • By Component: LiDAR, RADAR, Camera, Sensor
  • By Application Type: Goods Transportation, Passenger Transportation
  • By Level of Autonomy: Level Four, Level Five
Companies covered:

AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC

Growth Drivers:
  • Increasing focus on road safety and traffic control
  • Increasing investments via key players in automation industry
Restraints & Challenges:
  • Increasing concerns and threats pertaining to cyberattacks

Figure 1: Global Robotaxi Market Share (%), By Region, 2020

Robotaxi  | Coherent Market Insights

Among regions, Asia Pacific held dominant position in the global robotaxi market in 2020, and is estimated to retain its dominance throughout the forecast period, owing to high demand for energy-efficient and emission-free electric vehicles in China.

For instance, according to Coherent Market Insights Analysis, since March 2018, China has tested more than 350 autonomous vehicles (AVs) on public roads in 22 cities including Beijing, Changsha, Wuhan, and others. As of 2020, seven Chinese cities permit autonomous vehicles (AVs) to carry passengers in designated areas, with Guangzhou allowing payment for such services. Companies such as Baidu, Didi Chuxing, WeRide, and Alibaba-backed AutoX Technologies have deployed over 150 robotaxi’s in cities such as Beijing, Wuhan, and others.

Major players operating in the global robotaxi market include AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC.

Among component segment, LiDAR segment held the highest market share in the year 2020, and is expected to retain its market share over the forecast period, owing to increasing advancement in the automotive industry. For instance, in November 2020, Luminar Technologies, the self-driving sensor startup entered into partnership with Intel’s Mobileye. Under this partnership, Luminar will work with Mobileye to use the former’s lidar for its robo-taxi pilot and first-generation driverless fleet in regions across globe, including Tel Aviv, Dubai, Paris, and Daegu City.

Figure 2: Global Robotaxi Market Value (US$ Mn), 2017 - 2028

Robotaxi  | Coherent Market Insights

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.

Competitive Section

Major companies operating in the global robotaxi market include AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC.

Key Developments

  1. Key companies are involved in partnerships in order to gain a competitive edge in the market. For instance, in September 2020, Israeli car technology company Mobileye entered into partnership with Dubai-based business conglomerate Al Habtoor Group to operate robotaxis by the end of 2022.
  2. For instance, in December 2019, Robert Bosch GmbH entered into partnership with Mercedes-Benz maker Daimler AG to launched Robotaxi Program in San Jose, U.S.

Robotaxi is also known as self-driving taxi or a driverless taxi. This type of taxi can be operated by shared and on-demand mobility services. The robotaxi is available in two types of propulsion type which includes electric and fuel cell.

Market Dynamics

Increasing demand for ride-hailing services across globe is expected to boost the global robotaxi market. For instance, in July 2021, Pittsburgh’s self-driving startup Argo AI, Ride-hail Company Lyft and Ford Motor Co. planning to offer robotaxi service in Miami by the end of the year and in Austin in 2022.

For instance, in December 2020, Amazon’s Zoox introduced self-driving robotaxi for ride-hailing services in the U.S. The new robotaxi consists of various cameras and sensors including LiDAR and RADAR mounted on it to help eliminate blind spots and provide a 270-degree view of the road. This taxi can able to travel up to 75mph and can run for 16 hours on a single charge.

Furthermore, increasing focus of Chinese government on trials of autonomous taxi service is expected to boost the market of robotaxi in the country. For instance, in July 2021, the southern Chinese metropolis of Shenzhen collaborated with self-driving startup DeepRoute.ai to introduce first pilot autonomous taxi service project in Shenzhen, China. DeepRoute.ai is the first company to trail robotaxi service in Shenzhen, China.

However, high cost associated with the research and development are expected to hamper the growth of the global robotaxi market.

Market Taxonomy

This report segments the global robotaxi market on the basis of vehicle, service, propulsion, component, application type, level of autonomy, and region. On the basis of vehicle, global robotaxi market is segmented into shuttle/van and car. On the basis of service, global robotaxi market is segmented into rental and station based. On the basis of propulsion, global robotaxi market is segmented into electric and fuel cell. On the basis of component, global robotaxi market is segmented into LiDAR, RADAR, camera, and sensor. On the basis of application type, global robotaxi market is segmented into goods transportation and passenger transportation. On the basis of level of autonomy, global robotaxi market is segmented into level four and level five. On the basis of region, global robotaxi market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global robotaxi market, provides market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global robotaxi market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Major companies operating in the global robotaxi market include AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global robotaxi market analysis report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global robotaxi market

Detailed Segmentation:

  • Global Robotaxi Market, Vehicle:
    • Shuttle/Van
    • Car
  • Global Robotaxi Market, By Service:
    • Rental
    • Station Based
  • Global Robotaxi Market, By Propulsion:
    • Electric
    • Fuel Cell
  • Global Robotaxi Market, By Component:
    • LiDAR
    • RADAR
    • Camera
    • Sensor
  • Global Robotaxi Market, By Application Type:
    • Goods Transportation
    • Passenger Transportation
  • Global Robotaxi Market, By Level of Autonomy:
    • Level Four
    • Level Five
  • Global Robotaxi Market, By Region:
    • North America
    • Europe
    • Latin America
    • Asia Pacific
    • Middle East & Africa
  • Company Profiles
    • AutoX, Inc.**
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Key highlights
    • Baidu 
    • BMW AG
    • Daimler AG
    • EasyMile
    • Ford Motor Company
    • GM Cruise LLC
    • Hyundai
    • Tesla, Inc.
    • Waymo LLC

**All the pointers will also be provided for the rest of the companies.

Browse all the market data tables and figures on ‘Robotaxi Market – Global Forecast to 2028’

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Vehicle
      • Market Snippet, By Service
      • Market Snippet, By Propulsion
      • Market Snippet, By Component
      • Market Snippet, By Application Type
      • Market Snippet, By Level of Autonomy
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Robotaxi Market: Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Robotaxi Market, By Vehicle, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Shuttle/Van
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Car
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  6. Global Robotaxi Market, By Service, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Rental
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Station Based
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  7. Global Robotaxi Market, By Propulsion, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Electric
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Fuel Cell
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  8. Global Robotaxi Market, By Component, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • LiDAR
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • RADAR
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Camera
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Sensor
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  9. Global Robotaxi Market, By Application Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Goods Transportation
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Passenger Transportation
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  10. Global Robotaxi Market, By Level of Autonomy, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Level Four
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
    • Level Five
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  11. Global Robotaxi Market, By Region, 2017-2028  (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Vehicle, 2021–2028(US$ Million)
      • Market Size and Forecast, By Service, 2021–2028(US$ Million)
      • Market Size and Forecast, By Propulsion, 2021–2028(US$ Million)
      • Market Size and Forecast, By Component, 2021–2028(US$ Million)
      • Market Size and Forecast, By Application Type, 2021–2028(US$ Million)
      • Market Size and Forecast, By Vehicle Level of Autonomy, 2021–2028(US$ Million)
      • Market Share Analysis, By Country, 2017 and 2028 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Vehicle, 2021–2028(US$ Million)
      • Market Size and Forecast, By Service, 2021–2028(US$ Million)
      • Market Size and Forecast, By Propulsion, 2021–2028(US$ Million)
      • Market Size and Forecast, By Component, 2021–2028(US$ Million)
      • Market Size and Forecast, By Application Type, 2021–2028(US$ Million)
      • Market Size and Forecast, By Vehicle Level of Autonomy, 2021–2028(US$ Million)
      • Market Share Analysis, By Country, 2017 and 2028 (%)
        • U.K.
        • Spain
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Vehicle, 2021–2028(US$ Million)
      • Market Size and Forecast, By Service, 2021–2028(US$ Million)
      • Market Size and Forecast, By Propulsion, 2021–2028(US$ Million)
      • Market Size and Forecast, By Component, 2021–2028(US$ Million)
      • Market Size and Forecast, By Application Type, 2021–2028(US$ Million)
      • Market Size and Forecast, By Vehicle Level of Autonomy, 2021–2028(US$ Million)
      • Market Share Analysis, By Country, 2017 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Vehicle, 2021–2028(US$ Million)
      • Market Size and Forecast, By Service, 2021–2028(US$ Million)
      • Market Size and Forecast, By Propulsion, 2021–2028(US$ Million)
      • Market Size and Forecast, By Component, 2021–2028(US$ Million)
      • Market Size and Forecast, By Application Type, 2021–2028(US$ Million)
      • Market Size and Forecast, By Vehicle Level of Autonomy, 2021–2028(US$ Million)
      • Market Share Analysis, By Country, 2017 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Vehicle, 2021–2028(US$ Million)
      • Market Size and Forecast, By Service, 2021–2028(US$ Million)
      • Market Size and Forecast, By Propulsion, 2021–2028(US$ Million)
      • Market Size and Forecast, By Component, 2021–2028(US$ Million)
      • Market Size and Forecast, By Application Type, 2021–2028(US$ Million)
      • Market Size and Forecast, By Vehicle Level of Autonomy, 2021–2028(US$ Million)
      • Market Share Analysis, By Country/Region, 2017 and 2028 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  12. Competitive Landscape
    • Company Profiles
      • AutoX, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Baidu 
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • BMW AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Daimler AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • EasyMile
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ford Motor Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GM Cruise, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hyundai
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tesla, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Waymo LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  13. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on ‘Robotaxi Market – Global forecast to 2028’

FAQgrowicon

Frequently Asked Questions

The global robotaxi market is expected to reach US$ 1,278.7 million by 2022.
The market is expected to exhibit a CAGR of 61.72% during the forecast period (2021-2028).
Increasing focus on road safety and traffic control is expected to drive growth of the market during the forecast period.
Among propulsion, electric segment held the highest market share in the year 2019 and is expected to retain its market share over the forecast period, owing to growing concern about pollution.
Asia Pacific region held the largest share in the market in 2019, accounting for 38.65% share in terms of value.
Key players operating in the market include AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC
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