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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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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.
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.
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.
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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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.
REPORT FEATURES | DETAILS |
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Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Propulsion Type |
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Breakup by Level of Automation |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Robotaxi Market Analysis
8.1 Key Industry Highlights
8.2 Global Robotaxi Market (2022-2028)
8.3 Global Robotaxi Market by Propulsion Type (2022-2028)
8.3.1 Electric Vehicle
8.3.2 Hybrid Vehicle
8.3.3 Fuel Cell Vehicle
8.4 Global Robotaxi Market by Level of Automation (2022-2028)
8.4.1 Level 4
8.4.2 Level 5
8.5 Global Robotaxi Market by Application (2022-2028)
8.5.1 Passenger Transportation
8.5.2 Goods Transportation
8.6 Global Robotaxi Market by Region (2022-2028)
8.6.1 North America
8.6.2 Europe, the Middle East, and Africa (EMEA)
8.6.3 Asia Pacific
8.6.4 Latin America
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Tesla, Inc.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Waymo LLC
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Aptiv PLC
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 Uber Technologies Inc.
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Cruise LLC
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 Lyft, Inc
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 Baidu, Inc.
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Didi Chuxing Technology Co
10.2.8.1 Company Overview
10.2.8.2 Product Portfolio
10.2.8.3 Demographic Reach and Achievements
10.2.8.4 Certifications
10.2.9 AutoX, Inc
10.2.9.1 Company Overview
10.2.9.2 Product Portfolio
10.2.9.3 Demographic Reach and Achievements
10.2.9.4 Certifications
10.2.10 AB Volvo
10.2.10.1 Company Overview
10.2.10.2 Product Portfolio
10.2.10.3 Demographic Reach and Achievements
10.2.10.4 Certifications
10.2.11 Others
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Robotaxi Market: Key industry Highlights, 2022 and 2028
2. Global Robotaxi Market: Breakup by Propulsion Type (USD Million), 2022-2028
3. Global Robotaxi Market: Breakup by Level of Automation (USD Million), 2022-2028
4. Global Robotaxi Market: Breakup by Application (USD Million), 2022-2028
5. Global Robotaxi Market: Breakup by Region (USD Million), 2022-2028
6. Global Robotaxi Market Structure
The market is expected to grow at a CAGR of above 100% between 2023 and 2028.
The major market drivers include technological advancements in autonomous driving and the potential cost savings offered by robotaxis.
The key trends fuelling the growth of the market include increasing adoption of ride sharing services, propelling environmental concerns, and growing collaborations between major players of the market.
The major regions in the market are North America, Europe, the Middle East, and Africa (EMEA), the Asia Pacific, and Latin America.
The levels of automation of robotaxis are level 4 and level 5.
Robotaxis are automated taxis with the potential to reduce the number of road accidents globally and significantly lower energy consumption.
The various propulsion types of robotaxis in the market include electric vehicle, hybrid vehicle, and fuel cell vehicle.
The key players in the global robotaxi market are Tesla, Inc., Waymo LLC, Aptiv PLC, Uber Technologies Inc., Cruise LLC, Lyft, Inc, Baidu, Inc., Didi Chuxing Technology Co, AutoX, Inc, and AB Volvo, among others.
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