On the track of the robotaxi market, competition is intensifying. In 2024, Waymo stands out for its dominance of the U.S. market, but Tesla and Amazon's Zoox are following suit, ready to reshape the industry in the coming years. This article will explore the competitive landscape of these three companies and forecast the growth potential of the global shared mobility market.
Industry Competitive Landscape:
Waymo's Lead:
Waymo, Alphabet's self-driving pioneer, has delivered more than 5 million self-driving trips in multiple U.S. cities, seven times more than in the same period in 2023. Waymo's services span Phoenix, San Francisco, and Los Angeles, and its technology maturity and breadth of services give it an edge over the competition. In addition, Waymo plans to further expand its service to Austin and Atlanta in 2025 and further strengthen its market position by offering rides through the Uber app. In August of this year, Waymo showcased the next generation of self-driving cars produced in partnership with Chinese auto giant Geely. Waymo's custom hardware and software will be integrated into the Geely Zeekr electric SUV. For the new robotaxis, Waymo reduced the number of on-board cameras from 29 to 13 and the number of expensive on-board lidar sensors from five to four. In October, the company also announced a partnership with Hyundai Motor to incorporate Hyundai's Ioniq 5 SUV into Waymo's fleet. The parties said that testing of the Waymo Ioniq 5 will begin at the end of 2025.
Tesla's Latecomer:
Although Tesla has yet to launch a commercial robotaxi service, its CEO Elon Musk showed off Tesla's "dedicated robo-taxi" Cybercab concept in 2024, which is scheduled to be produced for less than $30,000 in 2027. Tesla's Model Y and other models are expected to be put into service as robotaxis as early as 2025 after the system is upgraded. Tesla's continued investment and innovation in self-driving technology makes it a strong contender in the market of the future.
Figure: How will the unmanned taxi market develop in 2025? (Source: CNBC)
Zoox's Unique Path:
Zoox, Amazon's self-driving company, has received permission to conduct public road tests in Foster City, California, and plans to offer free rides to the public in early 2025. Zoox's self-driving shuttles are known for their unique design and comfortable ride, and Zoox's driverless taxis were also known as "futuristic hot dog toasters" or "toasters on wheels" in the early days because they resembled pop-up hot dog toasters. Zoox's expansion plans include the launch of services in Las Vegas and San Francisco, with gradual opening to paying customers and the general public.
Market Potential Forecast:
Growth of the global shared mobility market:
According to Fortune Business Insights, the global shared mobility market is expected to grow from $123.08 billion in 2024 to $480.09 billion in 2032. This forecast shows the huge potential of the robotaxi market, especially in terms of improving traffic efficiency, reducing congestion, and environmental impact.
