The global robotaxi market is anticipated to exhibit exponential CAGR of 109.5% during the forecast period (2021-2027). The robotaxi is a self driving taxi that takes leverage of AI, ML, Iot and other technologies for ride-hailing. The rising trend of autonomous vehicle, zero emission vehicles, and new mobility models in the automobile sector has flourished the investment in the field of robotaxi market. With the hike in the success rate of robotaxis, these taxis will proved to be the highly adopted means of ride-hailing for being convenient and personalized means of transportation. However, robotaxis are still under its development phase and it is yet to face several challenges over roads before making entrance on roads.

Under the comprehensive management plan for automated vehicle initiatives the US government had built AV 3.0. Built upon automated driving systems AV 3.0 is a Vision for Safety 2.0 (ADS 2.0) and expands the scope to provide an USDOT framework and multimodal approach to the safe integration of AVs into the Nation’s broader surface transportation system. Such type of cohesive government policies for the uptake of autonomous vehicles is expected to promote the growth of the robotaxi market. 

Impact of COVID-19 Pandemic on Robotaxi Industry

COVID-19 pandemic has made negative impact on the growth of the robotaxi market. This is due to the fact that many of the ongoing robotaxi projects got halted due to COVID-19 pandemic. However, with the recovery in situation, the enlargement of existing pilots and new pilot project launches from some of the leading players of robotaxi has been expected. Therefore, the robotaxi market is anticipated to exhibit considerable growth after COVID-19 pandemic.  

Segmental Outlook  

The robotaxi market is segmented on the basis of level of automation, application, and propulsion. Based on level of automation, the robotaxi market is segmented into L4 robotaxi and L5 robotaxi. Based on application, the robotaxi market is segmented into goods and passenger. Based on propulsion, the market is segmented electric and fuel cell. Based on propulsion, the electric robotaxis are anticipated to hold considerable share during the forecast period. 

L4 Robotaxi held Considerable Share based on Level of Automation

L4 robotaxi held major market share based on level of automation. Being in its development phase a lot of technical complexities are yet to be dissolved by the technicians before launching highly automated L5 robotaxis. Hence, currently L4 robotaxis holding major market share in robotaxi market based on level of automation. 

Global Robotaxi Market Share by Level of Automation, 2020 (%)

Regional Outlook 

The global robotaxi market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. In 2020, Europe held considerable market share of XX% in robotaxi market. The highly developed automobile industry of Europe along with thrust for innovation in the field of automobiles has paved the way for the region to make advancement in field of automobile technologies. This is the key factor behind the high share of the regional market. Moreover, the high investment in the field of autonomous electric cars to limit the carbon footprints of the region is again contributing the high share of the regional market. 

Global Robotaxi Market Growth, by Region 2021-2027

Asia-Pacific will augment With the Significant Growth Rate in the Robotaxi Market 

Asia-Pacific is projected to showcase highest CAGR of XX% during the forecast period. The rising focus of Chinese players over development of robotaxis is a key factor driving the growth of the Asia-Pacific robotaxi market. The Chinese players such as Didi Chuxing Technology Co., Baidu Inc., AutoX, and DeepRoute.ai among others are highly active in the robotaxi market. These players are making considerable investment in testing and public trial of robotaxis in major cities of China. For instance, in July 2021, Baidu Inc. has unveiled its robotaxi ride-hailing pilot program to the public in the southern metropolis of Guangzhou and became the largest autonomous driving vehicle-for-hire platform in the city.  

Market Players Outlook

Robotaxi service providers are making significant contribution in the development of robotaxi market by constantly being involved in betterment of robotaxi technology by launch of several pilot projects. The major players contributing to the growth of the global robotaxi market include APTIV Plc, Baidu Inc., Continental AG, Cruise LLC, Daimler AG, Didi Chuxing Technology Co. and so on. Partnerships, collaboration, and mergers & acquisitions among others are some other strategies that are being adopted by market players of robotaxi. This market is currently in its development phase. Therefore, a large number of startup can also be noticed in this market. 

Recent Development 

• In August 2020, autonomous vehicle startup AutoX has made public launch of its robotaxi service in Shanghai. This service has been launched with a fleet of 100 vehicles. Rides can be booked through AutoNavi, the mapping and transportation-booking app owned by Alibaba.
• In June 2020, Didi Chuxing technology Co. has launched an autonomous vehicle project for passengers in Shanghai. After registering on the Didi app and signing a consent form, users can call self-driving cars for rides within limited test areas for free in Shanghai's Jiading district. This project is currently under its testing phase.
  

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global robotaxi market. Based on the availability of data, information related to pipeline projects, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.