A robotaxi revolution is coming as the autonomous vehicles are slated to hit the streets in more major cities in the coming months. A new report by Polaris Market Research predicts the global market value of robotaxi companies will rise from $1.8 billion to more than $500 billion over the next decade.
The forecast comes as Waymo, a subsidiary of Google parent firm Alphabet, announced plans to bring its robotaxi services to Dallas in 2026. The company also plans to expand into other major cities, including Miami and Washington.
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Rental car business Avis Budget Group announced on Monday, July 29, that it will operate the Waymo fleet in Dallas through a partnership between the companies.
The deal is a “milestone,” Avis CEO Brian Choi said in a statement, adding that his company aims to be “a leading provider of fleet management, infrastructure and operations to the broader mobility ecosystem.”
Testing underway
Waymo autonomous taxi tests are already being conducted in downtown Dallas, using Jaguar I-Pace electric vehicles with the Waymo Driver system. The vehicle features automated driving software, sensors and other equipment that allow the car to navigate the city.
Riders will be able to hail a robotaxi through the Waymo app in Dallas. In two other cities where it already operates, Waymo only provides service through the rideshare company Uber.
The leader of the pack
Waymo is the industry leader, although Tesla and Amazon-owned Zoox, as well as startups like Nuro, May Mobility and Wayve, are playing catch-up with their fleets.
The company said it provides more than 250,000 paid trips per week in its current markets: Atlanta, Austin, Los Angeles, Phoenix and San Francisco. According to CNBC, executives announced on the company’s second-quarter earnings call that the Waymo Driver has traveled more than 100 million miles on public roads. The executives also said the company is conducting tests in more than 10 cities this year, including New York and Philadelphia.
Waymo’s chief competitor
Waymo’s biggest rival globally comes from Baidu’s autonomous taxis, which Apollo Go runs in China. The company is seeking to expand to Europe.
Industry analysts predict that robotaxis will become more common as people look for greener alternatives, fewer traffic jams and greater safety. They also note that it will save people the headache of parking and reduce stressful commutes.
