Robo taxi market size to grow by USD 568.65 million between 2021 and 2026; Growth driven by increased focus of OEMs on the development of robo taxis - Technavio

NEW YORK, March 30, 2023 /PRNewswire/ -- The global robo taxi market size is estimated to grow by USD 568.65 million from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 8.21% during the forecast period. The market is driven by the increased focus of OEMs on the development of robo taxis. Increasing traffic congestion has led many consumers to shift to new car ownership models, such as carpooling, cab services, and car rentals. To capitalize on this opportunity, automotive OEMs are developing technologies that focus on driverless, autonomous vehicle concepts. Although these technologies are still in a nascent stage for commercialization, numerous experts are expecting this concept to drive the future of the automotive industry. With many automobile manufacturers increasing their efforts to develop autonomous vehicles, the market growth will accelerate during the forecast period. For more insights on the market size (2022 to 2026) - Request a sample report

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Global Robo Taxi Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on application (goods transportation and passenger transportation) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

• The market growth in the goods transportation segment will be significant during the forecast period. The increasing demand for last-mile delivery solutions and increasing initiatives to promote robo taxi transportation and logistics are driving the growth of the segment.

Geography Overview

By geography, the global robo taxi market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global robo taxi market.

• APAC will account for 32% of the market growth during the forecast period. North America is another major region providing significant growth opportunities in the market. The presence of well-developed road infrastructure and connectivity solutions is a major factor driving the growth of the robo taxi market in North America.

Insights on the market contribution of various segments including country and region wise and forecast market size (2022 to 2026) - Download a Sample Report

Global Robo Taxi Market ? Vendor Analysis

The global robo taxi market is fragmented. The market consists of some well-established players that are into the design and development of transmission systems and components for electric vehicles. Vendors are focused on the development of level 4 and level 5 robo taxis, using artificial intelligence, radio detection and ranging (RADAR), and light detection and ranging (LIDAR) technologies to make them highly automated. Prominent vendors are focusing on improving the reliability, durability, and safety of autonomous taxis. There are numerous projects and initiatives under process in the global robo taxi market, which is playing a crucial role in driving the adoption of driverless taxis in designated places or areas. Owing to these factors, the robo taxi market is expected to intensify in competition during the forecast period. Some of the key vendors covered in the report include:

• Argo AI LLC - The company offers robo taxi services such as argo autonomy platform that includes the software, hardware, HD maps, and backend support needed to power full-service self-driving operations.
• AutoX Inc. - The company offers robo taxi services such as Robo Taxi and Robo Delivery.
• Baidu Inc - The company offers robo taxi services such as radish run which is an autonomous driving travel service platform.
• Easymile SAS - The company offers robo taxi services such as EZ10 passenger shuttle.

Global Robo Taxi Market ? Market Dynamics

Leading trends influencing growth 

• Internet of Things integration powered by AI technology in automobiles is identified as the key trend in the market.
• Automobile manufacturers are partnering with hardware and software companies to incorporate automation technologies such as AI and IoT in their vehicles.
• This is beneficial for autonomous vehicles because more individuals prefer smart devices to control various electronic devices.
• IoT allows automotive AI in a vehicle to read information stored within the cloud and alter drive patterns accordingly.
• It aids in reducing traffic and reducing the potentiality of an accident as vehicles communicate to each other about speed and braking distance.
• This trend will have a positive impact on the growth of the market during the forecast period.

Major challenges hindering growth

• Less system reliability is the major challenge affecting the growth of the market.
• Autonomous technologies such as advanced driver assistance system (ADAS) are designed to prevent accidents. However, the safety aspects are still not clear.
• Any occasional faults in the system could lead to driver discarding the use of such technologies.
• Also, improper tuning of the autonomous vehicle technology system may create unwanted stoppages of the vehicle.
• Many such challenges are expected to remain as obstacles to the growth of the global robo taxi market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this robo taxi market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the robo taxi market between 2022 and 2026
• Precise estimation of the size of the robo taxi market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the robo taxi market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of robo taxi market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary ? Chart on Market Overview
• Exhibit 02: Executive Summary ? Data Table on Market Overview
• Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
• Exhibit 04: Executive Summary ? Chart on Market by Geography
• Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary ? Chart on Incremental Growth
• Exhibit 07: Executive Summary ? Data Table on Incremental Growth
• Exhibit 08: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers ? Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers ? Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants ? Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes ? Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry ? Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Goods transportation - Market size and forecast 2021-2026
• Exhibit 28: Chart on Goods transportation - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Goods transportation - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Goods transportation - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Goods transportation - Year-over-year growth 2021-2026 (%)

• 5.4 Passenger transportation - Market size and forecast 2021-2026 
• Exhibit 32: Chart on Passenger transportation - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Passenger transportation - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Passenger transportation - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Passenger transportation - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Application 
• Exhibit 36: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 Canada - Market size and forecast 2021-2026
• Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.12 UK - Market size and forecast 2021-2026
• Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Argo AI LLC 
• Exhibit 89: Argo AI LLC - Overview
• Exhibit 90: Argo AI LLC - Product / Service
• Exhibit 91: Argo AI LLC - Key offerings

• 10.4 AutoX Inc. 
• Exhibit 92: AutoX Inc. - Overview
• Exhibit 93: AutoX Inc. - Product / Service
• Exhibit 94: AutoX Inc. - Key offerings

• 10.5 Baidu Inc 
• Exhibit 95: Baidu Inc - Overview
• Exhibit 96: Baidu Inc - Business segments
• Exhibit 97: Baidu Inc - Key offerings
• Exhibit 98: Baidu Inc - Segment focus

• 10.6 Beijing Xiaoju Technology Co. Ltd. 
• Exhibit 99: Beijing Xiaoju Technology Co. Ltd. - Overview
• Exhibit 100: Beijing Xiaoju Technology Co. Ltd. - Product / Service
• Exhibit 101: Beijing Xiaoju Technology Co. Ltd. - Key offerings

• 10.7 Cruise LLC 
• Exhibit 102: Cruise LLC - Overview
• Exhibit 103: Cruise LLC - Product / Service
• Exhibit 104: Cruise LLC - Key offerings

• 10.8 Easymile SAS 
• Exhibit 105: Easymile SAS - Overview
• Exhibit 106: Easymile SAS - Product / Service
• Exhibit 107: Easymile SAS - Key news
• Exhibit 108: Easymile SAS - Key offerings

• 10.9 Navya SA 
• Exhibit 109: Navya SA - Overview
• Exhibit 110: Navya SA - Product / Service
• Exhibit 111: Navya SA - Key offerings

• 10.10 Tesla Inc. 
• Exhibit 112: Tesla Inc. - Overview
• Exhibit 113: Tesla Inc. - Business segments
• Exhibit 114: Tesla Inc. - Key offerings
• Exhibit 115: Tesla Inc. - Segment focus

• 10.11 Waymo LLC 
• Exhibit 116: Waymo LLC - Overview
• Exhibit 117: Waymo LLC - Product / Service
• Exhibit 118: Waymo LLC - Key offerings

• 10.12 ZF Friedrichshafen AG 
• Exhibit 119: ZF Friedrichshafen AG - Overview
• Exhibit 120: ZF Friedrichshafen AG - Business segments
• Exhibit 121: ZF Friedrichshafen AG - Key news
• Exhibit 122: ZF Friedrichshafen AG - Key offerings
• Exhibit 123: ZF Friedrichshafen AG - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 124: Inclusions checklist
• Exhibit 125: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 126: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 127: Research methodology
• Exhibit 128: Validation techniques employed for market sizing
• Exhibit 129: Information sources

• 11.5 List of abbreviations 
• Exhibit 130: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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