Global Robotaxi Market Share, Size, Analysis, Growth, Report, Forecast: By Propulsion Type: Electric Vehicle, Hybrid Vehicle, Fuel Cell Vehicle; By Level of Automation: Level 4, Level 5; By Application: Passenger Transportation, Goods Transportation; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Global Robotaxi Market Outlook

The global robotaxi market size is expected to grow at a CAGR of above 100% between 2023 and 2028. The major drivers of the market include technological advancements in autonomous driving and the potential cost savings offered by robotaxis.

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Key Trends in the Market

A robotaxi is a self-driving vehicle designed to function as a taxi without any human assistance, able to transport passengers and goods from one place to another with ease. Also known as a driverless taxi or self-driving taxis, robotaxis operate in a similar manner to other taxis, with the primary difference being a lack of a human driver. Passengers and consumers will be able to avail robotaxis with the aid of smartphone applications and digital assistants.

• Rising popularity of ride sharing services due to their convenient and cost-efficient nature is expected to positively influence the growth of the market for robotaxi across the globe over the forecast period.

• Collaborations between the major market players is another key trend anticipated to aid the growth of the robotaxi market. Such collaborations are expected to result in production of exceptional driverless vehicles that deliver safety and reliability.

• Reduced risk of accidents caused due to human error along with other advantages such as improved reliability, accessibility, and affordability are significant factors boosting the growth of the market for robotaxis around the globe.

Market Analysis

On the basis of propulsion type, the market is divided into electric vehicle, hybrid vehicle, and fuel cell vehicle. Based on level of automation, the market is bifurcated into level 4 and level 5. By application, the market is segregated into passenger transportation and goods transportation. On the basis of region, the market is segmented into North America, Europe, the Middle East, and Africa (EMEA), the Asia Pacific, and Latin America.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global robotaxi market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Tesla, Inc.

• Waymo LLC

• Aptiv PLC

• Uber Technologies Inc.

• Cruise LLC

• Lyft, Inc

• Baidu, Inc.

• Didi Chuxing Technology Co

• AutoX, Inc

• AB Volvo

• Others

Market Share by Propulsion Type

By propulsion type, electric vehicles are projected to witness exponential growth in the robotaxi market over the upcoming years. This growth can be attributed to the rising concerns about the environment and elimination of use of fossil fuels in order to reduce carbon emissions. Electric vehicles offer various environmental and safety advantages over their traditional fuel consuming and non-autonomous counterparts, including reduction of air pollution and enhanced safety features, among others.

Market Share by Region

North America is projected to account for a major share in the market for robotaxis in the forecast period owing to the presence of various key market players in the region. Additionally, the strong presence of various ridesharing companies in countries such as the United States and Canada is also expected to boost the growth of the robotaxi market in North America. Collaborations between the key players of the market are also rising in the region for utilisation of robotaxis for passenger transportation as well as goods transportation.

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Competitive Landscape

Tesla, Inc. is a motor vehicle manufacturing company that was founded in 2003 and is headquartered in Texas, United States, which is known for its innovations in clean energy products and electric cars.

Waymo LLC is an autonomous driving company that was established in 2009 and is based out of California, United States. It is a subsidiary of Alphabet Inc. which is the parent company of Google LLC.

Aptiv PLC is a motor vehicle manufacturing company specialising in autonomous vehicles, electrical distribution systems, connected cars, and engineered components, among others. Aptiv was founded in 1994 and is headquartered in Dublin, Ireland.

Other market players include Uber Technologies Inc., Cruise LLC, Lyft, Inc, Baidu, Inc., Didi Chuxing Technology Co, AutoX, Inc, and AB Volvo, among others.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.