Robo-Taxi Market Global Production, Growth, Share, Demand and Applications Forecast to 2030
Market Summary -
According to Market Research Future (MRFR), Robo-Taxi Market is estimated to witness a 53.8% CAGR during the forecast period. Additionally, the proliferation of auto-driven/ driverless cars increases the robo-taxi market sales. Advancements in technology enable automakers to create purpose-built electric vehicles for ride-hailing purposes.The robo-taxi
market is garnering significant traction across the globe. The market
growth attributes to the growing demand for hassle-free hailing vehicle
services globally and the growing need for traffic control & better road
safety. Besides, increasing scope for vehicle-to-infrastructure communications
and fuel-efficient & environment-friendly vehicles drives the market
growth.
Rising zero-emissions mobility solutions and the demand for
a purpose-built electric vehicle for ride-hailing are major trends in the
market. With increasing developments in futuristic autonomous technologies and
increasing passenger safety, the market is forecasted to witness significant
traction in the years to come. Moreover, the increasing sale of passenger cars
in emerging countries escalates the market demand.
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Also, rising numbers of road accidents have led to an
increase in the robo-taxi market. Conversely, high capital investments
associated with the production of robo-taxis are a significant factor projected
to impede market growth. Nevertheless, augmenting demand for safety
technologies would support market growth throughout the review period.
Global Robo-Taxi Market – Competitive Analysis
Highly competitive, the robo-taxi market appears fragmented
due to the presence of several well-established players. To gain a larger
competitive share, industry players adopt strategies such as mergers &
acquisitions, collaboration, innovation, and brand reinforcement. Vendors
providing these autonomous vehicles also offer after-sales services to the
end-users. Manufacturers strive to develop low-cost, compact systems,
emphasizing improved hardware.
Major Players
Players leading the robo-taxi market are Tesla Inc. (US),
Waymo LLC (US), Robert Bosch Gmbh (Germany), ZF Friedrichshafen AG (Germany),
Continental AG (Germany), General Motors (US), Aptiv (Ireland), Lyft, Inc.
(US), GM Cruise LLC (US), Navya (France), Ridecell, Inc (US), and EasyMile
(France).
Robo-Taxi Market – Segments
The report is segmented into components, service types,
vehicle types, propulsion, applications, and regions. The component segment is
sub-segmented into lidar, radar, sensors, and others. Among these, the sensors
segment accounts for a significant market share.
The service type segment is sub-segmented into station-based
car-sharing & car rental. Among these, the car rental segment accounts for
a significant market share. The vehicle type segment is sub-segmented into
passenger and commercial vehicles. Among these, the passenger car segment
accounts for a significant market share.
The propulsion segment is sub-segmented into electric,
battery, and hybrid. The application segment is sub-segmented into residential
and non-residential. Among these, the non-residential segment accounts for a
significant market share.
Robo-Taxi Market – Regional Analysis
The Asia Pacific region dominates the global
robo-taxi market. The largest market share attributes to rising automotive
infrastructure and growing population in China, Japan, and India. Additional
factors bolstering the regional market share are the growing robo-taxi industry
and increasing focus on environment and vehicle safety. Furthermore, developing
countries with growing economies and rapid urbanization in the region impact
market growth positively.
North America stands second in the global
robo-taxi market. Factors such as substantial technological advances in
production techniques and product developments boost the market size. Besides,
the presence of notable industry players, alongside the early uptake of
advanced autonomous vehicles for passenger vehicles, drives the regional market
growth. The well-established automotive industry in this region creates
opportunities for the robo-taxi market to grow significantly.
Europe has emerged as a promising market for robo-taxis. The
region is a hub for luxury cars and automotive research & innovation,
boosting the market size. Moreover, the resurging economy in the region is
playing a vital role in the market's growth. Growing passenger car markets in
Germany, the UK, France, and Italy support the regional market growth.
Furthermore, enormous investments to improve automotive safety technologies in
the UK and Germany influence the growth of the regional market.
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