Fully autonomous vehicles: $38.6 billion market by 2030

Goods delivery, not passenger travel, will drive the bulk of the massive industry growth expected.

67.8% compound annual growth rate (CAGR)

$1.0 billion in 2023 to $38.6 billion in 2030

Vehicles that deliver goods instead of people, such as the Nuro R1, which is already delivering groceries for Kroger, don’t need to include safety equipment and can travel very slowly, making them more practical in the short term. Goods delivery vehicles should grow more quickly than people-delivering robot-taxis.

2023

Goods $0.6 billion

Passengers $0.4 billion

2030

Goods $21.7 billion

Passengers $16.9 billion

 

Key safety/navigation technologies (in order of future spending)

• Cameras

• LiDAR

• Ultrasonic sensors

• Radar

Autonomous vehicle propulsion source (in order of future spending)

• Electric vehicles

• Hydrogen fuel cells

• Hybrid-electric powertrains

Major companies driving technology

• Aptiv

• Aurora (bought Uber’s autonomous unit in late 2020)

• Cruise LLC (General Motors subsidiary)

• Daimler AG

• EasyMile

• Ford Motor Co.

• Lyft Inc.

• Navya

• Ridecell Inc.

• Waymo (Google subsidiary)

Source: https://www.alliedmarketresearch.com/robo-taxi-market