Self-driving Taxi Market by Vehicle Type (Cars, Shuttles), Level of Autonomy (L4, L5), Propulsion (Electric, Fuel Cell), Component (Hardware, Software), Service Type (Car Rental, Station Based) and Region - Global Forecast to 2030
Self-driving taxis are automated commercial vehicles used mostly for ride hailing purposes to move people from one location to another. Taxis that operate automatically on their own without a driver are known as self-driving taxis. The demand for self-driving taxis has grown significantly over the past several years because of the development of ADAS technology in automobile. By leveraging these self-driving taxis, the likelihood of traffic accidents can be marginally decreased globally because there will be no human intervention. Moreover, self-driving taxis contribute to increased road-safety both for pedestrians and customers with better traffic control. A self-driving taxi consist of various sensors such as LiDAR, RADAR, and camera along with AR-HUD which can increase the obstacle and route detection for the taxi. The cost of ride in a driverless taxi can be lower as compared to a human operated taxi.
The global Self-driving Taxi Market is projected to grow from 1.3 thousand units in 2022 to 1,047 thousand units by 2030, at a CAGR of 132.6%
Drivers: Better traffic control and increased road-safety are expected to drive the market
Road safety is an important factor for automobile users across the globe. On an average over 1.3 million people die due to road accidents every year globally. OEMs such as General Motors, Volkswagen, Nissan, among others have already started providing technologies such as V2X, IoT, ADAS, among others. Features such as LiDAR, RADAR, and camera which would increase the taxi’s ability to detect the road obstacles and better routes much easily as compared to a driver enabled taxi as the element of human error will be removed. A self-driving taxi will automatically take safety measures such as autonomous emergency braking (AEB) and lane keeping assistance (LKA). Testing for such self-driving taxis have taken pace in countries such as the US, China, among others. Many OEMs and ride hailing companies have working prototypes that are being tested in different regions. Companies such as Lyft, Ford, Honda, Toyota, and Tesla are competing to bring a fully autonomous vehicle to the market. Uber was one of the earliest companies testing self-driving taxis since 2016 and started trial in Pittsburgh, US. However, the company sold its self-driving taxi division, Uber ATG, to Aurora Innovation in January 2021. Similarly, in 2019, Waymo also started the operation of its self-driving taxis in Arizona, US. Further, Cruise, a subsidiary of General Motors, started its self-driving taxis in San Francisco, US in early 2022.Opportunities: Automotive giants are escalating their investment in LiDAR startups.
Many OEMs across the world are developing their technology to implement on their vehicles which has given rise to various new applications. Many automobile and component manufactures have developed their advanced LiDAR technology which assist a self-driving vehicle to detect far away obstacles easily, which in turn increases the road-safety of autonomous vehicles. At present, LiDAR is leveraged in automobile for level 2 and 3 vehicles. In next 2-3 years, bulk production of LiDAR technology integrated with ADAS in private or commercial cars is expected. Companies such as BMW (Germany), Daimler (Germany), General Motors (US), Stellantis (Netherlands), Honda (Japan), Hyundai-Kia (South Korea), Renault-Nissan, Suzuki (Japan), Toyota (Japan), Volkswagen (Japan), Volvo (Sweden), SAIC (China), Geely (China), and FAW (China) have already adopted the LiDAR technology to be integrated into their autonomous vehicles. These companies have also invested huge amount in LiDAR technology providers or start-ups such as Cepton (US), SureStar (US), Velodyne (US), LedderTech (Canada), Waymo (US), A-Eye (US), Benewake (China), Quanergy (US), Innoviz (Israel), and Tetravue (US).
Challenge: Higher R&D and testing costs of autonomous vehicles
The overall operating cost of a self-driving car is much lower as compared to a driver-enabled car. But the initial investment costs such as R&D and testing costs of an autonomous driver-less car is much higher as compared to an autonomous driver operated car. The cost of sensors such as LiDAR and RADAR and their equipment are quite high which add up additional costs to their research and development costs. The testing of self-driving vehicles is too comprehensive because any changes made to the software or hardware can affect the human lives directly. There are many incidents in which a self-driving car accidently hit pedestrians on the roads. These unfortunate accidents cost the company huge amounts in settling the claims. Due to these operational failures the OEMs restart their R&D operations from every few months which costs them a huge amount.
Key Players
Cruise LLC (subsidiary of General Motor Company) (US), Daimler AG (Germany), Ford Motor Company (US), Lyft Inc. (US), Nissan Motor Corporation (Japan), Tesla (US), Volkswagen AG (Germany), Volvo Group (Sweden), Waymo LLC (subsidiary of Alphabet Inc.) (US) are some of the leading players in the market. These companies adopted new product launches, partnership, and supply contracts to gain traction in the self-driving taxi market.
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Report Metrics |
Details |
| Base year for estimation | 2021 |
| Forecast period | 2022 – 2030 |
| Market Growth forecast | 1,047 thousand units by 2030, at a CAGR of 132.6% |
| Top Players | Tesla (US), Waymo LLC (subsidiary of Alphabet Inc.) (US), Cruise LLC (subsidiary of General Motor Company) (US), Lyft Inc. (US), Volkswagen AG (Germany). |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Segments covered | |
| By Vehicle Type | Cars, Shuttles |
| By Level of Autonomy | L4, L5 |
| By Propulsion | Electric, Fuel Cell |
| By Component | Hardware (Camera, LIDAR, RADAR, Ultrasonic Sensors, Infrared Sensors, GPS Receivers), Software (Operating System (with sensor plug-ins, data recorder, vehicle support, DNN framework), Perception System (for perception, mapping and driving using real world data), AI assisted driving platform and others)) |
| By Service Type | Car Rental, Station Based |
| By Region | North America – US, Canada |
| North America – US, Canada | |
| Asia Pacific – China, India, Japan, South Korea, Rest of Asia Pacific | |
| Additional Customization to be offered |
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Key Developments
- In August 2021, Cruise LLC has announced plans to launch its commercial taxi service by 2022. Cruise will launch the service in San Francisco, California. In January 2020, Cruise revealed the Cruise Origin autonomous electric shuttle, which is expected to be used to transport passengers. The Cruise Origin will be built at GM’s Factory Zero Detroit-Hamtramck Assembly Centre from 2023. In October 2020, Cruise received approval to operate vehicles without a backup driver in the driver’s seat.
- In June 2021, Waymo unveiled fifth generation Waymo Driver, which can be applied to multiple vehicle platforms and use cases, from moving people with Waymo One to transporting goods with Waymo Via. Waymo’s fifth-generation Driver carefully curates the placement of lidar, cameras, and radar to offer the overlapping field of views, with high dynamic range and thermal stability for more complex environments.
- In December 2021, Ford Bronco Sport became the first vehicle to feature parts made of 100% recycled ocean plastics. Ocean plastic is collected by workers in the Indian Ocean and the Arabian Sea, promoting healthier marine life, reducing landfill waste, and providing jobs. Recycled plastics provide a durable, low-cost material that is comparable to petroleum-based plastic at 10% cost savings and requiring less energy to produce
Frequently Asked Questions (FAQ):
What is the current size of the self-driving taxi market?
The current size of the self-driving taxi market is estimated at 1.3 thousand units in 2022.
Who are the winners in the self-driving taxi market?
The self-driving taxi market is dominated by players such as Tesla (US), Waymo LLC (subsidiary of Alphabet Inc.) (US), Cruise LLC (subsidiary of General Motor Company) (US), Lyft Inc. (US), Volkswagen AG (Germany). They have initiated partnerships to develop their self-driving technology.
Which region will be the largest market for self-driving taxi market?
Asia Pacific will be the largest market in the self-driving taxi industry. Presence of key automotive start-ups and top players in countries such as China and Japan, among others with growing demand for best-in-class features in automobiles will lead to growing demand for self-driving taxi in this region.
What are the key technologies affecting the self-driving taxi market?
The key technologies affecting the self-driving taxi market are the growth of 5G network, the internet of things (IoT) in automobiles, connected vehicles technology and advanced driver assistance system. .
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 22)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 YEARS CONSIDERED FOR THE STUDY
1.3.2 COUNTRIES CONSIDERED FOR THE STUDY
1.4 CURRENCY & PRICING
1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary participants
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 44)
4 PREMIUM INSIGHTS (Page No. - 50)
5 MARKET OVERVIEW (Page No. - 55)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
5.3 PORTER’S FIVE FORCES
5.3.1 THREAT OF SUBSTITUTES
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 BARGAINING POWER OF SUPPLIERS
5.3.5 RIVALRY AMONG EXISTING COMPETITORS
5.4 ECOSYSTEM ANALYSIS
5.5 VALUE CHAIN ANALYSIS
5.6 PRICING ANALYSIS
5.7 PATENT ANALYSIS
5.8 CASE STUDY
5.9 TECHNOLOGY ANALYSIS
5.1 REGULATORY OVERVIEW
5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.10.2 KEY CONFERENCES AND EVENTS
5.11 TRENDS AND DISRUPTIONS
5.12 MAJOR DEVELOPMENTS IN THE AUTONOMOUS CAR MARKET IN 2022
5.13 SCENARIO ANALYSIS (2022–2030)
5.13.1 MOST LIKELY SCENARIO
5.13.2 OPTIMISTIC SCENARIO
5.13.3 PESSIMISTIC SCENARIO
6 SELF-DRIVING TAXI MARKET, BY VEHICLE TYPE (Page No. - 99)
6.1 INTRODUCTION
6.1.1 ASSUMPTIONS
6.1.2 RESEARCH METHODOLOGY
6.2 CAR
6.3 LCV
6.4 KEY PRIMARY INSIGHTS
Note: Market numbers to be provided on regional level in terms of volume (Units)
7 SELF-DRIVING TAXI MARKET, BY LEVEL OF AUTONOMY (Page No. - 108)
7.1 INTRODUCTION
7.1.1 ASSUMPTIONS
7.1.2 RESEARCH METHODOLOGY
7.2 L4
7.3 L5
7.4 KEY PRIMARY INSIGHTS
Note: Market numbers to be provided on regional level in terms of volume (Units)
8 SELF-DRIVING TAXI MARKET, BY PROPULSION (Page No. - 116)
8.1 INTRODUCTION
8.1.1 ASSUMPTIONS
8.1.2 RESEARCH METHODOLOGY
8.2 ELECTRIC
8.3 FUEL CELL
8.4 KEY PRIMARY INSIGHTS
Note: Market numbers to be provided on regional level in terms of volume (Units)
9 SELF-DRIVING TAXI MARKET, BY COMPONENT (Page No. - 124)
9.1 INTRODUCTION
9.1.1 ASSUMPTIONS
9.1.2 RESEARCH METHODOLOGY
9.2 HARDWARE
9.2.1 CAMERA
9.2.2 LIDAR
9.2.3 RADAR
9.2.4 ULTRASONIC SENSORS
9.2.5 INFRARED SENSORS
9.2.6 GPS RECEIVERS
9.3 SOFTWARE
9.3.1 OPERATING SYSTEM
9.3.2 PERCEPTION SYSTEM
9.3.3 AI ASSISTED DRIVE SYSTEM
9.3.4 OTHERS
9.4 KEY PRIMARY INSIGHTS
Note: Market numbers to be provided on regional level in terms of volume (Units)
10 SELF-DRIVING TAXI MARKET, BY SERVICE TYPE (Page No. - 136)
10.1 INTRODUCTION
10.1.1 ASSUMPTIONS
10.1.2 RESEARCH METHODOLOGY
10.2 CAR RENTAL
10.3 STATION BASED
10.4 KEY PRIMARY INSIGHTS
Note: Market numbers to be provided on regional level in terms of volume (Units)
11 SELF-DRIVING TAXI MARKET, BY REGION (Page No. - 158)
11.1 INTRODUCTION
11.2 ASIA PACIFIC
11.2.1 CHINA
11.2.2 JAPAN
11.2.3 INDIA
11.2.4 SOUTH KOREA
11.2.5 REST OF ASIA PACIFIC
11.3 EUROPE
11.3.1 FRANCE
11.3.2 GERMANY
11.3.3 SPAIN
11.3.4 UK
11.3.5 REST OF EUROPE
11.4 NORTH AMERICA
11.4.1 US
11.4.2 CANADA
11.5 REST OF THE WORLD
11.5.1 BRAZIL
11.5.2 SOUTH AFRICA
11.5.3 OTHERS
Note: Market numbers to be provided only on country level in terms of volume (Units)
12 COMPETITIVE LANDSCAPE (Page No. - 192)
12.1 OVERVIEW
12.2 MARKET RANKING ANALYSIS
12.3 COMPETITIVE SCENARIO
12.3.1 DEALS
12.3.2 NEW PRODUCT LAUNCHES
12.3.3 OTHERS
12.4 COMPANY EVALUATION QUADRANT
12.4.1 STARS
12.4.2 EMERGING LEADERS
12.4.3 PERVASIVE
12.4.4 PARTICIPANTS
12.5 STARTUP/SME EVALUATION QUADRANT
12.5.1 PROGRESSIVE COMPANIES
12.5.2 RESPONSIVE COMPANIES
12.5.3 DYNAMIC COMPANIES
12.5.4 STARTING BLOCKS
13 COMPANY PROFILES (Page No. - 208)
13.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)*
13.1.1 WAYMO
13.1.2 AUTOX
13.1.3 CRUISE AUTOMATION
13.1.4 BAIDU
13.1.5 TESLA
13.1.6 AGR.AI
13.1.7 PONY.AI
13.1.8 DIDI
13.1.9 EASYMILE
13.1.10 LOCAL MOTORS
13.1.11 NAVYA
13.1.12 2GETTHERE
13.2 OTHER PLAYERS
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 261)
15 APPENDIX (Page No. - 263)
15.1 KEY INSIGHTS OF INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 AVAILABLE CUSTOMIZATIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
Growth opportunities and latent adjacency in Self-driving Taxi Market