According to Bis Research, The global robo taxi market is expected to grow at a CAGR of 168.29% throughout the forecast period, 2020-2025, to reach 535 thousand units by 2025. The North America region dominated the global robotaxi market in 2019, whereas the Europe region is expected to showcase the highest growth rate during the forecast period.

The global robotaxi market is mainly attributed due to the need for enhanced road safety across the globe. Additionally, numerous initiatives from the government to develop robotaxis in different regions is also boosting the global robotaxi market. Participation of various automotive manufacturers and increasing vehicular congestion and pollution are expected to further bolster the growth of the global robotaxi market.

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.

Impact of COVID-19 on Robotaxi Market:

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.

Competitive Landscape

To gain market share, major robo taxi technology providers, automotive manufacturers, and mobility-as-a-Service (MaaS) providers, are making various kinds of strategic moves. A majority of the companies preferred business expansion 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. Several companies, including Easymile, Fiat Chrysler Automobiles, Local Motors, May Mobility, Navya, Ridecell Inc., Uber, and Voyage among others, have been involved in product launches and enhancements.

View the Report: https://bisresearch.com/industry-report/robotaxi-market.html
Download the Sample Report: https://bisresearch.com/requestsample?id=956&type=download

Key Questions Answered in this Report:

• What are the key drivers and challenges in the robotaxi market? What will be the 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?
• For which key application areas may robotaxis 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 estimated to witness high demand growth from 2019 to 2025?
• What are the key consumer attributes in various regions for the robotaxi market?

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don’t simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

Contact:

Bhavya Banga
Email: [email protected]
39111 PASEO PADRE PKWY STE 315,
FREMONT CA 94538-1686

Visit our Blog @ http://bisresearch.com/blog/
Connect with us on LinkedIn @ https://www.linkedin.com/company/3720474
Connect with us on Twitter@ https://twitter.com/BISResearch