Alphabet: Robotaxis Will be a $45.7 Billion Market by 2030 - Subsidiary Waymo is Expanding Their use!

A new multi-billion market is being created by mobility-as-a-service, such as robotaxis. These reduce the cost of transporting people. At the same time, they make journeys more comfortable and, according to Waymo data, safer. Waymo is the subsidiary of Alphabet that is at the forefront of robotaxis and thus a $45.7 billion market. The company has now received approval to expand its robotaxi service in California!

Artificial intelligence and autonomous driving are shaking up the driver service market!
A race has broken out in the automotive industry. Tesla, Mercedes Benz and the like are vying to be the first to put self-driving cars on the road, with the goal of allowing passengers to pursue other activities, be it relaxing, working at the same time or watching movies, because the steering wheel no longer needs to be in their hands. The goal is to drive autonomously from one place to another. The transition to artificial intelligence is likely to have a positive effect, as the systems learn to assess their surroundings even better and react accordingly. The introduction of driverless robotaxis will disrupt the market for ride-hailing services. Various estimates of the potential market size exist. According to MarketsandMarkets, the global robotaxi market will explode from $0.4 billion in 2023 to $45.7 billion by 2030. The growing need for convenient and safe transportation is a key demand driver. In addition, the cost of transportation will be massively reduced, which will further boost usage. Mobility-as-a-Service will become a gigantic market and Alphabet is ready to profit from it.

The Alphabet subsidiary Waymo is at the forefront of robotaxis!
Google (now Alphabet) launched the Waymo project with self-driving cars back in 2009. The first fully automated journey on a public road took place in 2015. This was followed in 2018 by the launch of the autonomous driving service with a Chrysler Pacifica in Phoenix and, since 2022, a 24/7 service has been established that takes people to and from Phoenix Sky Harbor International Airport by robotaxi. In 2023, Waymo transported over 700,000 people. According to Waymo, the system has demonstrated its advantages over human drivers. The accident rate with injuries was reduced by 85 percent. The accident rate reported to the police also fell by 57%. Alongside GM subsidiary Cruise, Waymo is therefore at the forefront of establishing its robotaxi service. The billions of kilometers driven help Waymo to make the system better and better.

California expands the radius for robotaxis!
The high safety level of the Waymo system has now led to California agreeing to extend the radius. Waymo's cabs will in future be able to drive to San Francisco Airport, Google headquarters and Sunnyvale in Silicon Valley. This means that distances of around 60 kilometers can be covered by robotaxi. In San Francisco, Waymo cars are part of everyday street life. Around 250 Jaguar vehicles are in use there. This is a great success for Waymo, as it continues to outpace its closest competitor, GM's Cruise subsidiary. This is because the competitor's license has been revoked for the time being due to an accident. Waymo, meanwhile, can continue to develop its system in practice. This gives it a competitive advantage in a market worth almost $50 billion. Broad-based commercialization would become a new growth driver for the Alphabet group. This would be reflected in a higher valuation of Alphabet shares. After the recent consolidation, the stock should be able to extend its upward trend.

Want to keep reading?

You can find the entire story in The Trader Times. Get a 4-week trial subscription now and access the entire archive!