Robotaxi Market is Forecasted to Reach US$ 34.10 Billion in 2029, Says Stratview Research

The global robotaxi market is projected to witness a growth rate of 66.3% annually from 2023 to 2029, with an anticipated size of US$ 34.10 billion by 2029, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global robotaxi market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2029: US$ 34.10 billion
Growth (CAGR): 5.82% during 2023-2029
Forecast Period: 2023-2029
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 7
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Robotaxi Market:

The global robotaxi market is segmented based on vehicle type, application type, level of autonomy type, propulsion type, service type, component type, and region.

Based on propulsion type - Electric propulsion is to account for the largest market size during the forecast period. The growing concern over emissions has created a demand for fuel-efficient vehicles. Robotaxis not only offers robotic assistance but also introduces an era of fuel efficiency and carbon-free emissions.
The collaboration between Volvo and Uber introduced self-driving cars in the mid-size luxury segment in 2021, with 50% of these vehicles being fully electric cars. By 2030, it is projected that two-thirds of the global population will reside in urban areas. Daimler and Bosch are working together to develop self-driving electric cars in Germany that may be on the road by the early 2020s.
There is already a demand for fully electric robotaxis due to the strict government regulations around the world for an emission-free environment. The joint venture between Volvo and Baidu for electric self-driving taxis in China is an example of an environmentally friendly and advanced technical approach. Similarly, the partnership between BMW and Daimler has secured investments worth USD 1.13 billion in autonomous electric cars.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3329/robotaxi-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe is to witness significant growth during the forecast period. This growth outlook is majorly attributed to the following-

• Countries like Germany, France, Norway, and the Netherlands are expected to dominate the autonomous taxi market in Europe.
• The region benefits from advanced technology and supportive infrastructure, making it easier for fleet operators to test and deploy autonomous vehicles.
• According to the European Commission, the automotive industry is the largest investor in research and development, with about 180 automobile facilities in the EU. As the demand for self-driving taxis increases with growing technological trends, the market is expected to expand further. Leading manufacturers like NAVYA, Aptiv, EasyMile, Moia, and Daimler also have a significant presence in the region.

Robotaxi Market Drivers:

Some of the key drivers listed in the report are given below.
• Growing concerns regarding road safety and emissions.
• Innovative business models like mobility as a service could offer a sustainable and profitable revenue stream.
• The rising demand for ride-hailing services.

Top Companies in the Robotaxi Market:

Stratview Research has identified the following companies as the top market players.
• 2getthere (ZF)
• Aptiv
• Argo AI
• Autox
• Baidu
• Cruise Automation
• Didi Chuxing
• Drive.AI (Apple)
• Easymile
• Local Motors
• May Mobility
• Mobileye (Intel)
• Navya
• Nissan
• NVIDIA
• Optimus Ride
• Pony.Ai
• Tesla
• Waymo
• Woven Planet (Lyft)
• Yandex
• Zf Friedrichshafen

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Robotaxi Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Autonomous Cars Market: https://www.stratviewresearch.com/1781/autonomous-cars-market.html
• Automotive Advanced Driver Assistance Systems Market: https://www.stratviewresearch.com/131/automotive-advanced-driver-assistance-systems-mark.html

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This release was published on openPR.