Robotaxi Market, By Component, By Level of Autonomy, By Vehicle Type, By Propulsion, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Robotaxi Market size was valued at USD 1,212.32 Million in 2023, expanding at a CAGR of 90.5% from 2024 to 2032.
Robots are incredibly versatile machines that can perform complex tasks autonomously, either through external control or internal programming. While some robots are designed to look like humans, most prioritize function over appearance and are tailored for specific tasks across various industries, such as manufacturing and healthcare. From operating welding arms in factories to assisting with surgical procedures in hospitals, robots come in a wide range of sophistication levels, from basic pre-programmed units to advanced AI-equipped devices.
Robotaxi Market- Market Dynamics
Increased demand for convenient and secure transportation to propel market demand
The increasing demand for secure and convenient transportation is driving the growth of the robotaxi market. As people seek alternatives to driving themselves, robotaxis offers a stress-free option. Additionally, their lower costs compared to traditional taxis or owning a private vehicle, along with the rise of ride-sharing and Mobility-as-a-Service (MaaS) trends, are making them more appealing to consumers. Factors like sustainability concerns, the need for efficient urban transit, and improved safety by eliminating human error are also contributing to the growing popularity of robotaxis. Governments are also playing a role, with supportive regulations and infrastructure development for electric robotaxis further fueling market growth.
Robotaxi Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 90.5% over the forecast period (2024-2032)
Based on Vehicle Type segmentation, the Cars segment was predicted to show maximum market share in the year 2023
Based on Propulsion segmentation, Electric Propulsion was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
Robotaxi Market- Segmentation Analysis:
The Global Robotaxi Market is segmented based on Component, Level of Autonomy, Vehicle Type, Propulsion, Application, and Region.
The market is divided into two categories based on Component: Cars and Shuttle/Vans. In terms of vehicle types, the Cars segment is expected to lead both in size and growth rate throughout the forecast period. This is largely due to significant investments made by autonomous vehicle manufacturers and operators in the deployment and testing of self-driving cars. While developments and testing are currently focused on vans, shuttles, and cars, industry experts predict that the rise of ride-sharing Vehicle Type will propel the autonomous car market to dominance. Collaborative efforts between companies are also underway to bring robotaxis to fruition.
The market is divided into four categories based on Propulsion: Electric, Car Rental, Fuel Cell, and Station Based. The Electric Propulsion segment is anticipated to hold the largest market share during the forecast period. Heightened concerns over emissions have spurred demand for more fuel-efficient vehicles. Robotaxis offers robotic assistance with greater fuel efficiency and reduced carbon emissions. In July 2022, Baidu, Inc. introduced their Apollo RT6, the sixth-generation robotaxi vehicle, which is steering wheel-free and all-electric, designed for fully driverless autonomous driving. Additionally, government regulations and improvements in public charging infrastructure in countries like China, France, and Norway are driving market growth for electric robotaxis. In August 2022, Chinese officials released draft rules permitting self-driving companies to offer rides and charge fees for fully autonomous vehicles (AVs). Low operating and maintenance costs are key factors propelling the market growth for electric robotaxis.
Robotaxi Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Robotaxi Market- Competitive Landscape:
In the expanding Robotaxi market, companies are strategically forming partnerships to fuel growth and manage risks. One key approach involves adopting successful models pioneered by industry leaders. This often means teaming up with established automotive manufacturers, technology firms, or urban transportation authorities to leverage their expertise, resources, and infrastructure. By replicating proven partnership frameworks, companies aim to expedite market entry, improve operational efficiency, and build consumer trust. These collaborations also grant access to essential regulatory pathways, market insights, and technological advancements, giving them a competitive edge in the evolving realm of autonomous mobility Vehicle Type.
Recent Developments:
In May 2023, Beijing Didi Chuxing Technology Co., Ltd. partnered with GAC AION to kickstart mass production of fully self-driving electric robotaxis. The first mass-produced model is expected to join their shared mobility network and integrate into a large-scale mixed dispatching system.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ROBOTAXI MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Waymo LLC
Baidu, Inc.
Beijing Didi Chuxing Technology Co., Ltd.
AutoX
Cruise LLC
BMW AG
Daimler AG
Hyundai
Ford Motor Company
GM Cruise LLC
EasyMile
Others
GLOBAL ROBOTAXI MARKET, BY COMPONENT - MARKET ANALYSIS, 2019 - 2032
Camera
Radar
LiDAR
Ultrasonic Sensors
GLOBAL ROBOTAXI MARKET, BY LEVEL OF AUTONOMY- MARKET ANALYSIS, 2019 - 2032
Level 4
Level 5
GLOBAL ROBOTAXI MARKET, BY VEHICLE TYPE- MARKET ANALYSIS, 2019 - 2032
Cars
Shuttles/Vans
GLOBAL ROBOTAXI MARKET, BY PROPULSION- MARKET ANALYSIS, 2019 - 2032
Electric
Car Rental
Fuel Cell
Station Based
GLOBAL ROBOTAXI MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Passenger Transportation
Goods Transportation
GLOBAL ROBOTAXI MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1.Robotaxi Market Overview
1.1.Study Scope
1.2.Market Estimation Years
2.Executive Summary
2.1.Market Snippet
2.1.1.Robotaxi Market Snippet by Component
2.1.2.Robotaxi Market Snippet by Level of Autonomy
2.1.3.Robotaxi Market Snippet by Vehicle Type
2.1.4.Robotaxi Market Snippet by Propulsion
2.1.5.Robotaxi Market Snippet by Application
2.1.6.Robotaxi Market Snippet by Country
2.1.7.Robotaxi Market Snippet by Region
2.2.Competitive Insights
3.Robotaxi Key Market Trends
3.1.Robotaxi Market Drivers
3.1.1.Impact Analysis of Market Drivers
3.2.Robotaxi Market Restraints
3.2.1.Impact Analysis of Market Restraints
3.3.Robotaxi Market Opportunities
3.4.Robotaxi Market Future Trends
4.Robotaxi Industry Study
4.1.PEST Analysis
4.2.Porter's Five Forces Analysis
4.3.Growth Prospect Mapping
4.4.Regulatory Framework Analysis
5.Robotaxi Market: COVID-19 Impact Analysis
5.1.Pre-COVID-19 Impact Analysis
5.2.Post-COVID-19 Impact Analysis
5.2.1.Top Performing Segments
5.2.2.Marginal Growth Segments
5.2.3.Top Looser Segments
5.2.4.Marginal Loss Segments
6.Robotaxi Market Landscape
6.1.Robotaxi Market Share Analysis, 2023
6.2.Breakdown Data, by Key Manufacturer
6.2.1.Established Players' Analysis
6.2.2.Emerging Players' Analysis
7.Robotaxi Market - By Component
7.1.Overview
7.1.1.Segment Share Analysis, By Component, 2023 & 2032 (%)
7.1.2.Camera
7.1.3.Radar
7.1.4.LiDAR
7.1.5.Ultrasonic Sensors
8.Robotaxi Market - By Level of Autonomy
8.1.Overview
8.1.1.Segment Share Analysis, By Level of Autonomy, 2023 & 2032 (%)
8.1.2.Level 4
8.1.3.Level 5
9.Robotaxi Market - By Vehicle Type
9.1.Overview
9.1.1.Segment Share Analysis, By Vehicle Type, 2023 & 2032 (%)
9.1.2.Cars
9.1.3.Shuttles/Vans
10.Robotaxi Market - By Propulsion
10.1.Overview
10.1.1.Segment Share Analysis, By Propulsion, 2023 & 2032 (%)
10.1.2.Electric
10.1.3.Car Rental
10.1.4.Fuel Cell
10.1.5.Station Based
11.Robotaxi Market - By Application
11.1.Overview
11.1.1.Segment Share Analysis, By Application, 2023 & 2032 (%)
11.1.2.Passenger Transportation
11.1.3.Goods Transportation
12.Robotaxi Market- By Geography
12.1.Introduction
12.1.1.Segment Share Analysis, By Geography, 2023 & 2032 (%)
12.2.North America
12.2.1.Overview
12.2.2.Robotaxi Key Manufacturers in North America
12.2.3.North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
12.2.4.North America Market Size and Forecast, By Component, 2019 - 2032 (US$ Million)
12.2.5.North America Market Size and Forecast, By Level of Autonomy, 2019 - 2032 (US$ Million)
12.2.6.North America Market Size and Forecast, By Vehicle Type, 2019 - 2032 (US$ Million)
12.2.7.North America Market Size and Forecast, By Propulsion, 2019 - 2032 (US$ Million)
12.2.8.North America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)