Self-driving Taxi Market by Level of Autonomy and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44733
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The self-driving taxi market has the potential to grow by 56162.96 units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 58.53%.

This self-driving taxi market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by level of autonomy (SAE level 3 and SAE level 4 and 5) and geography (North America, Europe, APAC, South America, and MEA). The self-driving taxi market report also offers information on several market vendors, including Alphabet Inc., Ford Motor Co., General Motors Co., Renault SA, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp. among others.

What will the Self-driving Taxi Market Size be in 2021?

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Self-driving Taxi Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increased focus of OEMs toward the development of self-driving vehicles is notably driving the self-driving taxi market growth, although factors such as issues with system reliability may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the self-driving taxi industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the self-driving taxi market is the increased focus of OEMs toward the development of self-driving vehicles.
  • The major OEMs and tier-1 suppliers have already initiated projects to commercialize this concept of self-driving vehicles.
  • Non-automotive companies such as Google and Apple are investing in self-driving vehicles by leveraging their expertise in communications.
  • The development of the autonomous vehicle concept is expected to commercialize in the coming decade as most of the major players from the automotive, electronics, and communications industries are putting in the efforts.
  • The maturing autonomous vehicles concept is another major factor supporting the self-driving taxi market share growth.
  • Companies such as Delphi, Continental, Bosch, Daimler, Scania, and Volvo are working on expanding the autonomous driving concept.
  • The growth rate of the automotive electronics market has been boosted owing to the range of consumer needs and OEM offerings having widened to include safety, performance, stability, and comfort.
  • Government regulations are forcing the deployment of minimum levels of ADAS and the presence of a conducive technology environment or platform to enable the viability of autonomous vehicles is an inherent driver of this market.

This self-driving taxi market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Self-driving Taxi Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Ford Motor Co.
  • General Motors Co.
  • Renault SA
  • Stellantis NV
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG
  • Volvo Car Corp.

 

This statistical study of the self-driving taxi market encompasses successful business strategies deployed by the key vendors. The self-driving taxi market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions, as well as strategic partnerships, to drive developments in the field of self-driving taxis.to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The self-driving taxi market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Self-driving Taxi Market?

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30% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the self-driving taxi market in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.

The OEMs based in North America have been investing in the development of autonomous technologies for making driverless vehicles a reality. This will facilitate the self-driving taxi market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Level of Autonomy Segments in the Self-driving Taxi Market?

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The self-driving taxi market share growth by the SAE level 3 segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the self-driving taxi market size and actionable market insights on post COVID-19 impact on each segment.

Scope of Report

Features

Included Data

Base year for market size assessment

2021

Forecast period

2021-2025

Growth momentum and forecast

Accelerate at a CAGR of 58.53%

Regional analysis

North America, Europe, APAC, South America, and MEA

Key consumer countries

US, Germany, China, UK, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Ford Motor Co., General Motors Co., Renault SA, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Factors Covered in this Self-driving Taxi Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive self-driving taxi market growth during the next five years
  • Precise estimation of the self-driving taxi market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the self-driving taxi industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of self-driving taxi market vendors

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Self-driving Taxi Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 58.53%

Market growth 2021-2025

56162.96 units

Market structure

Fragmented

YoY growth (%)

56.97

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 30%

Key consumer countries

US, Germany, China, UK, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Ford Motor Co., General Motors Co., Renault SA, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The self-driving taxi market growth will increase by $78588.00 units during 2019-2024.
The self-driving taxi market is expected to grow at a CAGR of 83.26% during 2019-2024.
Technavio has segmented the self-driving taxi market by other1 (SAE level 3 and SAE level 4 and 5) and geographic (North America, Europe, APAC, South America, and MEA).
Alphabet Inc., Fiat Chrysler Automobiles NV, Ford Motor Co., General Motors Co., Lyft Inc., Renault SA, Tesla Inc., Uber Technologies Inc., Volkswagen AG, AB Volvo are a few of the key vendors in the self-driving taxi market.
North America will register the highest growth rate of 39.42% among the other regions. Therefore, the self-driving taxi market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Germany
  • UK
  • Canada
  • Japan
  • China
The key factors driving the self-driving taxi market growth are:
  • Increased focus of OEMs toward development of self-driving vehicles
The self-driving taxi market vendors should focus on grabbing business opportunities from the sae level 3 segment as it accounted for the largest market share in the base year.
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