Currently, the global automotive industry, originated in the 19th century, has recently been witnessing unprecedented technological advancements. The convergence of numerous emerging technologies, such as autonomy, electrification, connectivity, and shared mobility, within the automotive ecosystem have given rise to many prospects for the market growth. Transportation for people and goods has become significantly easy, with an increasing number of on-road vehicles providing numerous opportunities and traveling options. However, with the increasing number of on-road vehicles, the complications and concerns related to vehicle and passenger safety have also increased. Therefore, the automotive industry has been heavily focused to further advance the concept of vehicle safety on public roads over the past few years. The robotaxi technology aims to bridge the gap between autonomous vehicles and shared mobility. These vehicles usually belong to the 4 and 5 levels of autonomy. Both traditional OEMs and new vehicle developers are working in this ecosystem to improve and introduce fully autonomous robotaxis on the road. Although the robotaxis drive autonomously, a safety operator on-board monitors the driving systems in the current scenario. Robotaxis find their use in numerous locations. However, the initial deployment of the self-driving taxis is expected to be concentrated at locations such as airports, industrial parks, amusement parks, exhibition complexes, and pedestrian areas.
North America is expected to acquire the lion share of the robotaxi market in 2019 and is expected to hold on to the dominance by 2025, owing to the large number of pilot projects and testing undergoing in the region. Additionally, the region, especially the U.S., has high disposable income and high per capita income that favor for a nourishing environment for the growth of robotaxis.
To gain market share, major robotaxi technology providers, automotive manufacturers, and mobility-as-aService (MaaS) providers are making various kinds of strategic moves. A majority of the companies preferred business expansions and product launches as a strategy to further increase their sales. Business expansion has been a leading strategy adopted by the companies, as it not only increases their revenue but also enhances their product portfolio and increases their product application base.
The robotaxi market is still at a primeval stage and is expected to exponentially escalate soon, driven by needs to enhanced mobility options. This chapter presents a thorough analysis of the business dynamics, comprising factors that either enable or inhibit the overall market growth, along with potential opportunities that can be tapped in the future.
The government of countries such as China, South Korea, Japan, Germany, the U.S., and the U.K. are granting permission for the testing of autonomous vehicles and building testbeds for autonomous vehicles. For instance, in December 2018, the government of South Korea inaugurated “K-City", a world's first selfdriving car testbed running on 5G Network, which is located at the “Korea Automobile Testing and Research Institute” (KATRI) in Hwaseong City, Gyeonggi Province, South Korea.
Over the short to mid-term, the COVID-19 pandemic could restrict the adoption of trend setting innovations, such as autonomous vehicles, as OEMs and investors downsize the development costs to focus more on dayto-day cash management issues. For example, autonomous vehicle testing might be suspended. Additionally, interest in micro mobility and shared mobility suppliers may drop. That being said, the pandemic could produce some permanent shifts over both the short and long term. For instance, AVs, if approved for on-road use, could see higher-than-expected demand, since they enable physical distancing. And remote work—now common during the pandemic—could become the norm if companies recognize their capabilities. If more people permanently work from home, the reduction in commutes would likely produce a long-term decrease in vehicle miles traveled. As of April 2020, Ford had delayed the launch of its robotaxi and autonomous delivery services from 2021 to 2022, owing to the economic impact of coronavirus pandemic. Furthermore, in March 2020, Waymo temporarily halted its robotaxi services in Arizona, over increasing risk to driver’s safety, amid the growing coronavirus pandemic.
Different players in the robotaxi market made significant developments, varying from partnerships and collaborations to mergers and acquisitions, to gain a significant market share. The segment provides comprehensive insights regarding the different market developmental activities adopted by the key players in the industry to compete directly. To lead the market as well as engage in the process of the overall market growth, a company needs to introduce new products to the market, improve the existing products’ framework, work in collaboration with the top market leaders, win new contracts, and acquire weak companies into its stronghold. Some of the strategies covered in this segment are new product launches, partnerships and collaborations, business expansions, mergers and acquisitions, and others.
Key Questions Answered by This Report:
▪ What are the key drivers and challenges in the robotaxi market?
▪ What will be potential impact of COVID-19 on the market?
▪ Which product segment is estimated to witness the maximum demand growth in the global robotaxi market during 2019-2025?
▪ Which are the key application areas for which robotaxis may experience high demand during the forecast period, 2020-2025?
▪ Which companies are the frontrunners in the robotaxi market?
▪ What are the business and corporate strategies being adopted by the service providers in the global robotaxi market?
▪ Which regions and countries are leading in the robotaxi adoption, and which of them are expected to witness high demand growth from 2020 to 2025?
▪ What are the key consumer attributes in various regions for robotaxi market?
This report covers an in-depth analysis of the robotaxi market. The report covers various applications of robotaxis, i.e. passenger and goods transportation. The report includes a thorough analysis of various types of robotaxis such as cars and shuttles. Additionally, the research also covers regional and country-wise analysis for the robotaxis market in various regions such as North America, Europe, Asia-Pacific & Japan (APJ), China, the U.K., and Rest-of-the-World (RoW). The research is based on extensive primary interviews (industry leaders and market players) and secondary research (a host of paid and unpaid databases), along with various analytical tools that have been used to build the forecast and predictive models.
Download the Sample Report of Robo-Taxi Market made by Bis Research.
