Report Overview

Global Robotaxi Market- Industry Trends & Forecast Report 2028

The global robotaxi market was worth USD 0.5 billion in 2021 and is further projected to reach USD 20.3 billion by the year 2028, growing at a whopping CAGR of 69.4% during the forecast period (2021-2028). Due to the increasing investment by automotive manufacturers in the development of robotaxi and the increasing demand to cut down mobility costs for commercial goods transportation, the market is gaining significant traction. Furthermore, growing concerns surrounding road safety, along with surging demand for energy-efficient vehicles, are anticipated to propel the growth of the global robotaxi market during the forecast period.

Robotaxi Market- Overview

A robotaxi is a self-driving taxi, mainly designed for commercial use for a ridesharing company. Robotaxi eliminates the cost of operating a vehicle and popularizes Transportation as a Service (TaaS) in the market. Moreover, robotaxis function as a taxi in an e-hailing service, and passengers can request one using smartphone applications. Waymo, the Google self-driving car project, was the first company to offer robotaxi services to the public.

Robotaxi Market Forecast and Trends

Growth Drivers

Increasing Commercial Application of Robotaxis

Robotaxis for car rental applications is becoming increasingly common on roads. Local governments are increasingly permitting the use of autonomous vehicles and are approving the policies. For instance, the California Public Utilities Commission has recently approved two new programs that permit the companies to provide and charge for shared rides in autonomous vehicles. China has also approved autonomous taxis for commercial use in Beijing.

Robotaxi Launches are on the Rise

The robotaxi market has great potential, which is attracting automobile manufacturers. More and more manufacturers are launching robotaxis in order to compete in the market and become market leaders. For instance, Hyundai and Motional, an autonomous vehicle developer, recently unveiled the IONIQ 5-based robotaxi, an SAE Level 4 vehicle. Likewise, Zoox, an American autonomous vehicle startup, has also developed the electric robotaxi, a multidirectional four-person vehicle. These types of launches are anticipated to boost the market growth during the forecast period.

Restraints

High Risks of Hacking in Autonomous Vehicles

Despite a lot of attention on preventing potential hacking of the robotaxi system, it remains unattended, which raises a lot of concerns for its market growth. A new report from the European Union Agency for Cybersecurity (ENISA) and the Joint Research Centre (JRC) raises concerns about the IT system used in autonomous vehicles and robotaxis' vulnerability to attacks that could damage their performance. These alleged attacks refer to malicious machine-based learning attacks, such as poisoning and evasion.

Impact of COVID-19 on the Global Robotaxi Market

The robotaxi market was negatively halted by the sudden COVID-19 pandemic outbreak. Countries imposing lockdowns in order to combat viral spread hindered vehicle production in different regions, which directly impacted the robotaxi market. The production, as well as the research and development activities of robotaxis, were temporarily halted during this period, due to which the manufacturers had to incur huge losses. However, the market is anticipated to witness substantial growth in the forecast period owing to the increasing focus towards cutting down carbon emission and the use of non-renewable energy sources post the COVID-19 outbreak.

Global Robotaxi Market - By Vehicle Type

Based on vehicle types, the robotaxi market is segmented into car and van/shuttle. The car segment holds the largest market share due to the increasing application of the robotaxis for car rentals. The manufacturers are focusing on developing self-driving vehicles to cut down the operational costs incurred on human drivers. Companies such as Uber and Baidu are already testing robotaxi rental services in Tier 1 cities. However, the van/shuttle segment is also estimated to witness substantial growth during the forecast period.

Global Robotaxi Market - By Level of Autonomy

Based on the level of autonomy, the robotaxi market is segmented into level 4 and level 5. The level 4 autonomy accounts for the largest share in the market. Most robotaxis in the market as of today are under level 4 of autonomy in which a car cockpit is included so that a human driver can still request control. However, the level 5 autonomy is anticipated to witness the highest CAGR during the forecast period as major OEMs including Tesla and Uber are investing in developing full automation robotaxis.

Global Robotaxi Market - Regional Insights

Geographically, the global robotaxi market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the robotaxi market owing to the development of new and innovative technologies. Emerging economies, such as China, Japan, South Korea, etc., are already the market leaders in the automotive industry. China is emerging as the fastest-growing region in the market with robotaxi already under public trial for rides. North America, on the other hand, is also growing at a high rate due to the high concentration of leading market players, such as Waymo and Tesla.

Global Robotaxi Market- Competitive Landscape

The leading players in the robotaxi market are Waymo LLC, Volvo Group, General Motor Company, Volkswagen AG, Tesla, Ford Motor Company, Nissan Motor Corporation, Daimler AG, Lyft, Inc., Uber Technologies, Cruise LLC, Baidu, AutoX, BMW AG, Toyota Motor Corporation, Denso Corporation, Robert Bosch GmbH, Continental AG, NVIDIA Corporation, and other prominent players.

The robotaxi market is highly competitive and consolidated due to the presence of leading multinational automobile manufacturers, such as Tesla, Toyota, BMW, etc. The companies significantly focus on offering a wide range of different types of electric cars and battery capacity to suit the needs of end-users. They are also investing in research and development activities to bring innovations into their offering. Furthermore, the adoption of competitive strategies such as mergers, acquisitions, partnerships, and collaborations, etc., is very prominent in this market.

Global Robotaxi Market- Recent Developments

• In January 2022, Waymo, autonomous tech developer, and Zeekr, Chinese electric mobility technology, and solutions company announced their partnership to design and engineer an electric robotaxi vehicle as a part of a ride-hailing fleet of Level 4 autonomous vehicles for the US market.

• In December 2021, SAIC Mobility, a unit of Chinese automotive design and manufacturing company SAIC Motor, announced the commencement of autonomous robotaxi test rides to the public in Shanghai.

Scope of the Report:

By Vehicle Type

• Car

• Van/Shuttle

By Level Of Autonomy

• Level 4

• Level 5

By Propulsion Type

• Electric

• Fuel Cell

By Service Type

• Car Rental

• Station-Based

By Component

• Camera

• LiDAR

• Radar

• Ultrasonic Sensors

By Region

• North America

• Europe

• Asia-Pacific (APAC)

• Latin America (LATAM)

• Middle-East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing Focus Towards Better Road Safety
         2. Rising Number Of Robotaxi Launches
      2. Restraints
         1. High Risks Of Hacking In Autonomous Vehicles
      3. Opportunities
         1. Increasing Demand For Electric Robotaxi
         2. Surging Use Of Robotaxi For Car Rental Application
      4. Challenges
         1. Negative Impact of the COVID-19 Pandemic
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Robotaxi Market Overview
   1. Market Estimates & Forecast by Value, 2018-2022
   2. Market Share & Forecast, by Segment
      1. By Vehicle Type
         1. Car
         2. Van/Shuttle
      2. By Level Of Autonomy
         1. Level 4
         2. Level 5
      3. By Propulsion Type
         1. Electric
         2. Fuel Cell
      4. By Service Type
         1. Car Rental
         2. Station-Based
      5. By Component
         1. Camera
         2. LiDAR
         3. Radar
         4. Ultrasonic Sensors
      6. By Region
         1. North America
         2. Europe
         3. Asia-Pacific (APAC)
         4. Latin America (LATAM)
         5. Middle-East & Africa (MEA)
6. North America Robotaxi Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2022
   2. Market Share and Forecast
      1. By Vehicle Type
      2. By Level of Autonomy
      3. By Propulsion Type
      4. By Service Type
      5. By Component
      6. By Country
         1. U.S.
         2. Canada
7. Europe Robotaxi Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2022
   2. Market Share and Forecast
      1. By Vehicle Type
      2. By Level of Autonomy
      3. By Propulsion Type
      4. By Service Type
      5. By Component
      6. By Country
         1. Germany
         2. U.K.
         3. France
         4. Italy
         5. Spain
         6. Netherlands
         7. Rest of Europe
8. APAC Robotaxi Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2022
   2. Market Share and Forecast
      1. By Vehicle Type
      2. By Level of Autonomy
      3. By Propulsion Type
      4. By Service Type
      5. By Component
      6. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Robotaxi Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2022
   2. Market Share and Forecast
      1. By Vehicle Type
      2. By Level of Autonomy
      3. By Propulsion Type
      4. By Service Type
      5. By Component
      6. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Robotaxi Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2018-2022
    2. Market Share and Forecast
       1. By Vehicle Type
       2. By Level of Autonomy
       3. By Propulsion Type
       4. By Service Type
       5. By Component
       6. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share / Ranking Analysis (2021)
    3. Competitive Benchmarking, By Operating Parameters
12. Impact of COVID-19 on Robotaxi Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Waymo LLC
    2. Volvo Group
    3. General Motor Company
    4. Volkswagen AG
    5. Tesla
    6. Ford Motor Company
    7. Nissan Motor Corporation
    8. Daimler AG
    9. Lyft, Inc.
    10. Uber Technologies
    11. Cruise LLC
    12. Baidu
    13. AutoX
    14. BMW AG
    15. Toyota Motor Corporation
    16. Denso Corporation
    17. Robert Bosch GmbH
    18. Continental AG
    19. NVIDIA Corporation
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Robotaxi Market Segmentation

Figure 2 : Robotaxi Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2021

Figure 4: Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 5: Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 6: Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 7: Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 8: Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 9: Robotaxi Market Share (%), By Component, By Value, 2018-2022

Figure 10: Robotaxi Market Share (%), By Region, By Value, 2018-2022

Figure 11: North America Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 12: North America Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 13: North America Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 14: North America Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 15: North America Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 16: North America Robotaxi Market Share (%), By Component, By Value, 2018-2022

Figure 17: North America Robotaxi Market Share (%), By Country, By Value, 2018-2022

Figure 18: Europe Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 19: Europe Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 20: Europe Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 21: Europe Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 22: Europe Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 23: Europe Robotaxi Market Share (%), by Component, By Value, 2018-2022

Figure 24: Europe Robotaxi Market Share (%), By Country, By Value, 2018-2022

Figure 25: Asia-Pacific Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 26: Asia-Pacific Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 27: Asia-Pacific Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 28: Asia-Pacific Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 29: Asia-Pacific Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 30: Asia-Pacific Robotaxi Market Share (%), By Component, By Value, 2018-2022

Figure 31: Asia-Pacific Robotaxi Market Share (%), By Country, By Value, 2018-2022

Figure 32: Latin America Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 33: Latin America Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 34: Latin America Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 35: Latin America Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 36: Latin America Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 37: Latin America Robotaxi Market Share (%), By Component, By Value, 2018-2022

Figure 38: Latin America Robotaxi Market Share (%), By Country, By Value, 2018-2022

Figure 39: Middle East & Africa Robotaxi Market Size, By Value (USD Billion), 2018-2022

Figure 40: Middle East & Africa Robotaxi Market Share (%), By Vehicle Type, By Value, 2018-2022

Figure 41: Middle East & Africa Robotaxi Market Share (%), By Level of Autonomy, By Value, 2018-2022

Figure 42: Middle East & Africa Robotaxi Market Share (%), By Propulsion Type, By Value, 2018-2022

Figure 43: Middle East & Africa Robotaxi Market Share (%), By Service Type, By Value, 2018-2022

Figure 44: Middle East & Africa Robotaxi Market Share (%), By Component, By Value, 2018-2022

Figure 45: Middle East & Africa Robotaxi Market Share (%), By Region, By Value, 2018-2022

List of Tables

Table 1: Robotaxi Market Size, By Vehicle Type, By Value, 2018-2022

Table 2: Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 3: Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 4: Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 5: Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022

Table 6: Robotaxi Market Size, By Region, By Value (USD Billion), 2018-2022

Table 7: North America Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022

Table 8: North America Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 9: North America Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 10: North America Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 11: North America Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022,

Table 12: Europe Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022

Table 13: Europe Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 14: Europe Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 15: Europe Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 16: Europe Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022

Table 17: the Asia-Pacific Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022

Table 18: the Asia-Pacific Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 19: the Asia-Pacific Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 20: the Asia-Pacific Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 21: the Asia-Pacific Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022

Table 22: Latin America Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022

Table 23: Latin America Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 24: Latin America Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 25: Latin America Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 26: Latin America Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022

Table 27: The Middle-East & Africa Robotaxi Market Size, By Vehicle Type, By Value (USD Billion), 2018-2022

Table 28: The Middle-East & Africa Robotaxi Market Size, By Level of Autonomy, By Value (USD Billion), 2018-2022

Table 29: The Middle-East & Africa Robotaxi Market Size, By Propulsion Type, By Value (USD Billion), 2018-2022

Table 30: The Middle-East & Africa Robotaxi Market Size, By Service Type, By Value (USD Billion), 2018-2022

Table 31: The Middle-East & Africa Robotaxi Market Size, By Component, By Value (USD Billion), 2018-2022

Table 32: Waymo LLC Financial Analysis

Table 33: Waymo LLC Business Overview

Table 34: Volvo Group Financial Analysis

Table 35: Volvo Group Business Overview

Table 36: General Motor Company Corporation Financial Analysis

Table 37: General Motor Company Corporation Business Overview

Table 38: Volkswagen AG Financial Analysis

Table 39: Volkswagen AG Business Overview

Table 40: Tesla Financial Analysis

Table 41: Tesla Business Overview

Table 42: Ford Motor Company Financial Analysis

Table 43: Ford Motor Company Business Overview

Table 44: Nissan Motor Corporation Financial Analysis

Table 45: Nissan Motor Corporation Business Overview

Table 46: Daimler AG Financial Analysis

Table 47: Daimler AG Business Overview

Table 48: Lyft, Inc. Financial Analysis

Table 49: Lyft, Inc. Business Overview

Table 50: Uber Technologies Financial Analysis

Table 51: Uber Technologies Business Overview

Table 52: Cruise LLC Financial Analysis

Table 53: Cruise LLC Financial Analysis

Table 54: Baidu Financial Analysis

Table 55: Baidu Financial Analysis

Table 56: AutoX Financial Analysis

Table 57: AutoX Financial Analysis

Table 58: BMW AG Financial Analysis

Table 59: BMW AG Financial Analysis

Table 60: Toyota Motor Corporation Financial Analysis

Table 61: Toyota Motor Corporation Financial Analysis

Table 62: Denso Corporation Financial Analysis

Table 63: Denso Corporation Financial Analysis

Table 64: Robert Bosch GmbH Financial Analysis

Table 65: Robert Bosch GmbH Financial Analysis

Table 66: Continental AG Financial Analysis

Table 67: Continental AG Financial Analysis

Table 68: NVIDIA Corporation Financial Analysis

Table 69: NVIDIA Corporation Financial Analysis