Self-driving taxis are finally rolling onto American streets after nearly a decade of hype, disappointment and reinvention. Waymo, Tesla, Zoox and five other driverless taxi companies are racing to deploy service in dozens of U.S. cities. Driverless vehicles are already operating in California, Texas and several other states.

The 2010s saw a boom in autonomous vehicle startups promising to eliminate car ownership. However, the high cost of developing the technology, technical challenges navigating crowded streets autonomously and a complex regulatory environment forced many companies out of business. High-profile accidents also drew increased scrutiny on safety.

Morgan Stanley estimates roughly half of the American population will have access to a robotaxi service within the next three years. The industry has moved from speculative hype to tangible deployment, with major players competing for market share in an emerging transportation sector.