Global Robotaxi Market By Vehicle Type (Cars, Shuttle/Vans), By Propulsion (Electric, Hybrid, Fuel Cell), By Application (Goods, Passenger), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Robotaxis are driverless taxis or self-driving taxis that are autonomous vehicles, which are typically operated for mobility service purposes. They are self-driving vehicles equipped with LiDAR, Global Positioning System (GPS), forward-facing cameras, RADAR, lateral cameras, rear-facing cameras, etc.

Increasing focus towards vehicle automation by various automakers, in turn, is expected to further contribute to the increase in demand for these self-driving vehicles.  Owing to this, the need for a human driver is expected to reduce, subsequently lowering the chances of road accidents.

According to the National Highway Traffic Safety Administration (NHTSA), approximately 94% of car accidents occur owing to human error every day on a global-scale. In addition, the adoption of such driverless taxis are expected to positive influence existing traffic congestion, road safety, and parking related issues.

Additionally, considering parameters such as pollution, the consumption of energy, and other resources, the use of robotaxis is anticipated to gain significant traction in the near future.

Robotaxis are complex supercomputers on wheels that require high-performance computing as well as unique end-to-end processes to develop. The development of data centers is generally critical for the deployment of robotaxis.

Robotaxis have to be operated in varying climatic conditions which requires an efficient neural network owing to massive amounts of data that must be processed. Companies such as NVIDIA provides full-stack Artificial Intelligence (AI) computing solutions necessary for the development of robotaxis.

It enables fully autonomous vehicles to process large amounts of data as well as diverse deep neural networks for secure and safe operation. For instance, NVIDIA DRIVE Infrastructure’s unified, open, and high-performance computing solutions, that is powered by GPU technology, is used to develop, test, train, and validate self-driving DNNs (Deep Neural Networks).

Detailed Segmentation:

The global robotaxi market is segmented on the basis of vehicle type, propulsion, application, and region. The detailed segmental description is represented below:

Based on Vehicle Type

• Cars
• Shuttle/Vans

Based on Propulsion

• Electric
• Hybrid
• Fuel Cell

Based on Application

• Goods
• Passenger

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

Owing to the increased inclination towards automation among vehicles by automakers across the globe, the demand for emission-free as well as fuel-efficient vehicles has increased. This, in turn, enables manufacturers to develop emission-free vehicles, which are likely to propel the revenue growth of the robotaxi market over the forecast period.

Additionally, increasing awareness levels concerning air pollution, paired with a surge in traffic & greenhouse gas emission levels are expected to create demand for fuel efficient and emission-free vehicles, which in turn, are slated to bolster projected revenues for robotaxi industry across the globe.

The deploying of robotaxi services requires high investments because components such as ultrasonic sensors, cameras, and LiDAR are expensive. The deployment and adoption of robotaxi fleets is complex and time consuming. In addition, the complexity of software due to Diverse Deep Neural Networks (DDNNs) are slated to restrain potential opportunities for the global robotaxi market.

However, an increase in government initiatives, coupled with an increase in investments by various key players in the automation industry are likely to create lucrative opportunities for the global robotaxi market.

For instance, the Ministry of Transport and Communications of Finland has prepared a legal structure to test autonomous vehicles. As such, in 2020, two new commercial programs were introduced by the California Public Utilities Commission (CPUC) that are anticipated to enable companies to test their robotaxi’s for commercial ride-hailing service purposes.

Due to the COVID-19 pandemic, several countries have imposed a complete lockdown, which in turn, has negatively impacted the production of vehicles. Manufacturing units across the globe were shut down, and vehicle sales have drastically decreased. This, in turn, is likely to negatively impact market growth to certain extent.

However, a majority of manufacturers resumed operations at their vehicle production plants at a limited capacity in conjunction with necessary suggested measures. In addition, the significant impact of various developments pertaining to autonomous vehicles that have been brought about by various startups and key players is expected to bolster potential market growth prospects in the process.

Competitive Landscape:

• Waymo
• Cruise LLC
• Baidu
• AutoX
• Tesla
• Cruise Automation
• Argo AI
• Pony.AI
• Easymile
• Navya

These mentioned companies develop new products/services, adopt expansion strategies, and undertake partnerships, collaborations, as well as mergers & acquisitions to gain traction in the global robotaxi market.

Key Developments:

• In March 2020, Waymo introduced the 5th-generation Waymo Driver, a self-driving system.

• In January 2021, AutoX unveiled its driverless commercial taxi service, robotaxi, in Shenzhen, China. The service is anticipated to be available to the public in Shenzhen.

• In May 2021, Baidu revealed its first driverless, commercial robotaxi service in Beijing, China.

For the Robotaxi Market research study, the following years have been considered to estimate the market size: