Robo taxis, also known as autonomous taxis or self-driving taxis, are vehicles that provide transportation services without a human driver. These vehicles leverage advanced artificial intelligence (AI), sensors and connectivity technologies to navigate roads and transport passengers or goods safely and efficiently.
The robo taxis market consists of sales by entities (organizations, sole traders and partnerships) of robo taxis product and services that are designed to operate in urban environments, suburban areas and designated autonomous vehicle zones, offering an alternative to traditional ride-hailing and taxi services. They are primarily used by commuters, travelers, logistics companies and businesses looking for efficient and cost-effective transportation solutions.
The global robo taxis market grew from $147.02 million in 2020 to $1,188.03 million in 2024.
Rise In Adoption Of Electric Vehicles
The rise in adoption of electric vehicles fueled the growth of the robo taxis market during the historic period. Electric vehicles are automobiles powered by electric motors using energy stored in rechargeable batteries, offering a sustainable alternative to conventional fuel-powered vehicles. The rise in the adoption of electric vehicles is driven by factors such as environmental concerns, government incentives and advancements in battery technology, with environmental concerns being a key driver as they reduce carbon emissions and dependence on fossil fuels, contributing to a cleaner and greener future. Robo-taxis play a crucial role in this adoption by showcasing the efficiency, cost-effectiveness and convenience of autonomous electric mobility, further accelerating the transition towards sustainable transportation. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of 2023, a 25% increase from the same period in 2022. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, the rise in adoption of electric vehicles drove the growth of the robo taxis market.
Fully Autonomous Ride-Hailing Expands, Transforming Urban Mobility And Transportation Safety
Companies in the robo-taxi market are dedicated to developing cutting-edge solutions like fully autonomous ride-hailing services to advance self-driving transportation and enhance urban mobility. These services rely on self-driving vehicles that operate without human drivers, providing on-demand rides through mobile apps. Equipped with advanced sensors, AI, and navigation technologies, these vehicles ensure safe and efficient passenger transportation to their destinations. For instance, in November 2024, Waymo LLC, a US-based autonomous driving technology company, launched Waymo One, a fully autonomous ride-hailing service, marking its largest expansion to date. By removing the waitlist, Waymo made its self-driving taxis accessible to everyone across 80 square miles of Los Angeles, significantly enhancing urban mobility. With 150,000+ weekly paid rides and strong public trust, particularly among safety-conscious riders, the expansion accelerates the mainstream adoption of autonomous transportation.
The global robo taxis markets is concentrated, with large players operating in the market. The top 10 competitors in the market made up 44.29% of the total market in 2023.
Robo Taxis Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global robo taxis market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for robo taxis? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The robo taxis market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider robo taxis market; and compares it with other markets.
The report covers the following chapters
Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by component type, by service, by propulsion and by application.
Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by component type, by service, by propulsion and by application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
Competitive Dashboard- Briefs on competitive dashboard of major players.
Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Recent Developments- Information on recent developments in the market covered in the report.
Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
Conclusions And Recommendations- This section includes recommendations for robo taxis providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: L4 Robo-Taxi; L5 Robo-Taxi
2) By Vehicle Type: Car; Shuttle/Van
3) By Service: Rental-Based; Station-Based
4) By Propulsion: Electric Vehicle; Fuel Cell Vehicle; Hybrid Electric Vehicle
5) By Application: Goods Transportation; Passenger Transportation
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; robo taxis indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
To take advantage of the opportunities, The Business Research Company recommends the robo taxis focus on developing next-generation autonomous technology to enhance urban mobility, focus on expanding access and enhancing public trust, focus on developing fully autonomous robotaxis, focus on expanding fully autonomous ride-hailing services, expand in emerging markets, continue to focus on developed markets, focus on expanding strategic collaborations to enhance distribution channels, focus on optimizing pricing strategies for robo-taxi companies, focus on targeting early adopters and tech-savvy consumers, focus on collaboration with transportation and urban mobility stakeholders, focus on targeting urban commuters and tech-savvy individuals.
Table of Contents
1 Executive Summary
1.1 Robo Taxis - Market Attractiveness And Macro Economic Landscape
2 Table Of Contents
3 List Of Tables
4 List Of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Robo Taxis Market Definition And Segmentations
6.4 Market Segmentation By Type
6.4.1 L4 Robo-Taxi
6.4.2 L5 Robo-Taxi
6.5 Market Segmentation By Vehicle Type
6.6 Market Segmentation By Service
6.6.1 Rental Based
6.6.2 Station-Based
6.7 Market Segmentation By Propulsion
6.7.1 Electric Vehicle
6.7.2 Fuel Cell Vehicle
6.7.3 Hybrid Electric Vehicle
6.8 Market Segmentation By Application
6.8.1 Goods Transportation
6.8.2 Passenger Transportation
7 Major Market Trends
7.1 Next-Gen Robotaxis Revolutionizing Urban Mobility With Cutting-Edge Autonomous Technology