From Retail to Robo-Taxi: Why Mobility Media is the Next Marketing Goldmine

July 2024

Hold onto your hats, tech enthusiasts and marketing mavens, because the future of advertising is zooming towards us at breakneck speed! The past few years have felt like a rollercoaster ride through a digital wonderland, with AdTech and MarTech driving change faster than you can say "targeted campaign." But buckle up, because we're about to shift gears into an even more exciting realm: the world of Mobility Media and Robo-Taxi's.

Let's start with a quick pit stop at Retail Media, the current darling of the advertising world. With a projected CAGR of 13% in the UK over the next five years, Retail Media is redefining how businesses leverage their assets and deliver omnichannel solutions for advertisers. But there's a new contender revving its engines or should I say dispersing it’s batteries, and it's set to give Retail Media a run for its money: mobility media, specifically in the realm of taxi and private hire vehicles (PHVs).

The ride-hailing industry has experienced explosive growth, with the UK market alone skyrocketing from £2.25 billion in 2018 to an estimated £5.4 billion in 2023. In the US, the numbers are even more staggering, with the market value surging from $26 billion in 2018 to a projected $61 billion in 2023. Talk about putting the pedal to the metal!

But hold onto your smartphones, because the real game-changer is just around the corner. With the UK's Automated Vehicles Act paving the way for Level Four self-driving cars within two years, we're on the cusp of a transportation revolution. Sure, some of us are still a bit wary – a recent YouGov survey found that 67% of Brits would feel unsafe in a driverless car. But let's be real: once people experience the mind-blowing convenience and safety of these high-tech chariots, resistance will melt faster than an ice cream cone in a heatwave - if we ever get one.

Zoox - Ride Hailing Vehicle

Big business is betting big on this autonomous Robo-Taxi future. Global investment in autonomous vehicle technology has reached a staggering $100 billion over the past five years, with heavyweights like Rimac, Zoox, and Tesla leading the charge.  

Zoox - Interior of vehicle

Rimac alone has poured over $200 million into their Robo-Taxi EV taxi solution, while Amazon-owned Zoox has invested north of $2 billion in their cutting-edge robo-shuttle technology. These companies aren't just building cars; they're crafting "rooms on wheels" as Chief Design Officer Adriano Mudri from Rimac calls them.  They will redefine our relationship with transportation.

Rimac Verne Robotaxi - Interior dash

And let's not forget Tesla, whose upcoming autonomous taxi announcement has the tech world buzzing with anticipation.

But why should marketers care about the Robo-Taxis futuristic people-movers and the new mobility media solution? Because, these aren't just vehicles – they're captive audience goldmines. Imagine hyper-targeted, context-aware advertising experiences delivered to passengers as they zoom through cities in comfort and style. It's a marketer's dream come true!

And the benefits extend far beyond advertising. Studies show that autonomous vehicles could reduce urban traffic congestion by up to 30%, increase average traffic speeds by 20%, and slash transportation-related emissions by a whopping 60%. That's not just good for business; it's a win for our cities and our planet.

As we merge onto this new highway of opportunity, the fusion of autonomous vehicles, AdTech, MarTech, and AI promises to create an advertising medium that could join Retail Media as the new thing on the block. So, fasten your seatbelts, marketing maestros – the future of advertising is autonomous, and it's going to be one heck of a ride!