Newark, June 08, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global robotaxi market is expected to grow from USD 836.36 million in 2021 to USD 68346.86 million by 2030, at a CAGR of 63.11% during the forecast period 2022-2030.
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A robo-cab, a self-driving taxi, is another name for a robo-taxi. It is a self-driving automobile that provides on-demand transportation services. The primary goal is to eliminate the necessity for a personal operator, which contributes significantly to the running costs of these types of services. A robo-taxi or robo-cab is a self-driving taxi that does not have a chauffeur. These are driverless automobiles with an autonomic level of 4 or 5 that are used for a simulated summoning service. These are fuel-efficient automobiles that release no harmful gas emissions and help to protect and preserve the environment. These eco-friendly autonomous vehicles are noted for consuming less battery and lowering the cost of automobile operation. Robo-Taxi is an automated taxi service that provides e-hailing (on-demand mobility). A robo-taxi may also be referred to as a robo-cab, a self-driving taxi, or a computerized taxi. Management points for robo-taxis might comprise crucial technology like automated vehicle detectors, software platforms, or specialized consumer touchpoints. The main advantage of using this type of cab is that it is projected to have reduced electricity consumption rates, which might dramatically cut carbon dioxide emissions.
With the increasing trend of driverless vehicles, there is an immense need for fuel-efficient and emission-free autos throughout the world. Producers have been able to develop emission-free automobiles as a result of the increased demand, which has supported the development of the robo taxi company. Robo-taxis are intended to be completely self-contained, which needs a cleaner and more effective fuel supply to operate the car. Moreover, the development of electric and fuel cell-powered vehicles lessens their dependency on fossil fuels. As a consequence, pollution is decreased because they do not emit pollutants into the atmosphere.
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Key players operating in the global robotaxi market are Daimler AG, Tesla Inc., General Motors, Waymo LLC, Ford Motor Company, NAVYA, Volvo, BMW AG, Fiat Chrysler Automobiles (FCA) and Nissan, among others. To enhance their market position in the global robotaxi market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Lyft and Aptiv revealed that their collaboration has resulted in the operational execution of 100,000 Robo-Taxi trips in Las Vegas in February 2020. The cabs are supervised by Aptiv's Command Center, where personnel gets essential information like engine health, with the goal of keeping cars on the road for extended periods of time.
• Luminar Technologies, a self-driving detector company, announced cooperation with Intel's Mobileye in November 2020. Luminar will collaborate with Mobileye to employ the latter's lidar for its self-driving pilot and the first driverless fleet in cities across the world, namely Dubai, Paris, and Daegu City.
• For example, in December 2019, Robert Bosch GmbH announced a collaboration with Mercedes-Benz producer Daimler AG to establish the Robotaxi Program in San Jose, California.
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The level 4 robotaxi segment dominated the market with a market share of 53.6% in 2021.
The level of autonomy segment is divided into level 5 and level 4. The level 4 segment led the market in 2021 with a market share of around 53.6%. Level 4 robo-taxis are self-driving vehicles that can run without human involvement on specific routes, roads, and towns where the technology supports automated driving. The implementation of level 5 robo-taxis is hampered by infrastructural and administrative foundation difficulties. They are not likely to be introduced until 2025 since they are totally driverless and can operate in inclement weather, road congestion, and radar contamination.
The passengers’ segment dominated the market with a market share of 55.32% in 2021.
The application segment is divided into passengers and goods. In 2021, the passenger sub-segment accounted for the largest share of the market, with 55.32%. The bulk of robo-taxis would be self-driving automobiles; they will most likely be used for ride-hailing. Organizations like Uber Inc. and Waymo are focusing on the deployment of robo-taxis primarily for on-demand sustainable mobility that contributes to public transportation, and as a result, the public transportation category is likely to dominate the robo-taxi industry.
The car segment dominated the market with a market share of 59.11% in 2021.
The vehicle type segment is divided into van/shuttle and car. The car sub-segment accounted for the largest share of the market for robotaxi, with 59.11% in 2021 because ride-hailing businesses are concentrating primarily on the growth of self-driving cars.
Regional Segment Analysis of the Robotaxi Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the European region emerged as the largest market for the global robotaxi market, with a market share of around 40.28% and 336.88 million of the market revenue in 2021. Nations such as France, the Netherlands, and Norway are seen to lead the European region. New technologies, as well as built and supported facilities, have made it easier for fleet managers to experiment and launch in this region. According to the European Commission, there seem to be around 180 vehicle centers throughout the EU, and the industry is the most significant investor in R&D. Growing technological trends for self-driving vehicles will have a considerable influence on the industry. This will increase the region's total demand for self-driving cabs. Furthermore, companies including NAVYA, Moia, and Daimler have an effect in the area.
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About the report:
The global robotaxi market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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