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Robo-Taxi Market - Industry Analysis, size, Share and Upcoming Trends (2019-2025)

Author : univdatos
Publish Date : 2021-05-27 16:29:05
Robo-Taxi Market - Industry Analysis, size, Share and Upcoming Trends (2019-2025)

Research report presented by UnivDatos, Emphasis on Component (Camera, LiDAR, Radar, Ultrasonic Sensors), Level of Autonomy (Level 4, Level 5), Propulsion (Electric Robo-taxi, Hybrid Robo-taxi, Fuel Cell Robo-taxi), Vehicle Type (Passenger Car, Shuttle, Goods Carrier Vans), Application (Passenger Carrier, Goods Carrier) and Geographical analysis (key regions and countries).

As per the research report, Robo-Taxi Market crossed 1,600 units mark in 2018 and is expected to grow at a CAGR of 124.6% during the forecast period 2019-2025. Robo-taxi is a self-driving or driverless vehicle that was recently introduced to the market as a pioneering leap into the future. Companies have begun to phase out autonomous vehicles for e-hailing (on-demand mobility) operation for everyday commuters after years of concentrated and rigorous research of autonomous vehicles (SAE Level 4 or Level 5). In most cases, the Robo-taxi reduces the need for a human chauffeur, which accounts for a large portion of the overall running costs. The Robo-taxi service has the potential to make shared mobility even more accessible for travellers, as well as increase demand for Transportation-as-a-Service (TaaS) solutions, which will fuel the Robo-taxi market's growth over the forecast era.

Autonomous Mobility on Demand (AMoD) service is one of the most widely accepted Robo-taxi applications, especially in metro areas. The approach that will propel the revolution toward self-driving vehicles is autonomous mobility on demand (AMoD). The AMoD is a technology that combines hardware, software, the car, and the data it collects to enhance the ride's safety and economies. Mobility on Demand (MoD) costs almost US$ 2/mile, vehicle owning costs US$ 0.8/mile, and AMoD costs US$ 0.3/mile, according to estimates. As a result, a range of organisations are currently working to improve AMoD technology. Furthermore, rising concerns about road safety, pollution, traffic mitigation, and booming demand for ride-hailing services are projected to drive the Robo-taxi industry forward over the forecast timeframe.

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Governments and industry leaders all over the world are embracing autonomous vehicles in public transit and fleets, with a particular focus on taxis, buses, and shuttles. The lack of necessary infrastructure is one of the most significant roadblocks to the global development of the Robo-Taxi market. With increasing government funding, a number of stakeholders are pouring money into designing the necessary vehicle-to-infrastructure (V2I) networks, such as road sensors or street signs that transmit signals to autonomous vehicles, allowing them to seamlessly traverse city streets. Furthermore, work on V2I technologies such as dedicated short-range communications (DSRC) and cellular vehicle-to-everything (C-V2X) systems is underway, which will aid in the introduction of autonomous vehicles such as Robo-taxi in both developed and developing countries.

“Level 4 of Robo-Taxi Market dominated the market in 2018 and is expected to maintain its lead by 2025”

The Robo-Taxi market has been divided into two levels based on autonomy: Level 4 and Level 5. Level 4 led the industry in 2018 and is projected to do so again by 2025. The shortage of facilities for level 5 vehicles in major countries is the primary cause for their domination.

For a detailed analysis of the applications in the Robo-Taxi Market browse through – https://univdatos.com/report/global-market-insights-on-robo-taxi-insights-and-forecast-2019-2025

“Amongst propulsion type, hybrid Robo-taxi holds the major share in 2018, while fuel cell is expected to grow considerably during the forecast period.”

The Robo-Taxi market has been segmented into hybrid, diesel, and fuel cell Robo-Taxi based on propulsion type. Hybrid Robo-Taxis led the Robo-Taxi market in 2018, with 939 units sold. However, due to the environmental issues and diminishing fuel capital, the electric Robo-Taxi segment is projected to overtake hybrid Robo-Taxi in terms of revenue over the forecast timeframe.

“Passenger Robo-Taxi Market dominated the market in 2018 and is expected to follow its trend till 2025”

The Robo-Taxi industry has been divided into three categories based on vehicle type: passenger car, shuttle, and goods carrier truck. Passenger cars led the industry in 2018 and are projected to continue to do so over the estimated timeframe of 2019-2025. The primary explanation for the rise of the passenger car segment over the other segments is that people are increasingly preferring shared mobility services to owning a car.

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“In terms of application, passenger transportation takes lead over the goods transportation of Robo-Taxi Market”

The Robo-Taxi industry is divided into passenger and goods transportation based on use. In 2018, passenger transportation Robo-taxi dominated the market and is expected to maintain its dominance throughout the forecast period, owing to increasing urbanization and people choice for opting a productive and comfortable ride while goods transportation Robo-taxi is expected to grow significantly over the analysed period as e-commerce and other utility companies are going for self-driving vehicles to deliver their consignment to customers.

“North America hold more than 50% of the market share of Robo-Taxi Market in 2018 and is expected to remain the largest market over the forecast period”

A quantitative study has been performed by region to explain the overall rate of Robo-Taxi adoption across the various regions, including North America, Europe, Asia-Pacific, and the Rest of the World. North America has the highest market share and is projected to continue to do so over the prediction period. However, Asia-Pacific is projected to rise exponentially over the forecasted timeframe, thanks to rising adoption and a large population base with rising disposable income.

Customization Options:

Robo-Taxi market can be customized to the state level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

Category : business

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