According to the MarkNtel Advisors' research report, "Global Robotaxi Market Analysis, 2021," the market is likely to grow at a CAGR of 60% during 2021-26. The market growth is attributable to snowballing need for traffic control and rising demand for safe, convenient, and economical modes of transportation. The introduction of autonomous vehicles has accelerated the growth of the Robotaxi market across the world. Further, surging demand for fuel-efficient and emission-free vehicles drives the market growth. Additionally, the burgeoning requirement of better road safety coupled with surging development & innovations by the top market players fuels the Robotaxi market growth.
Key questions answered in the study
Electrical Vehicle Acquired the Largest Market Share
Based on the Propulsion Type, the market segments into Electric Vehicles, Fuel Cell Vehicles, and Hybrid Vehicles. Out of these, the electric car segment attained the largest share in the Global Robotaxi Market in 2019 as electric vehicles offer several benefits like high efficiency, zero-emission, and low maintenance. Further, surging initiatives by market players to develop advanced infrastructure to facilitate the demand for electric vehicles, like the establishment of charging stations at every possible location, will propel the growth of the Robotaxi market globally.
"Global Robotaxi Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Robotaxi providers across the globe. Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Exhibits Fastest Growth
North America region is likely to register the fastest growth in the Global Robotaxi market during 2021-26 due to the rising adoption of advanced technologies in North American countries like the United States and numerous projects undertaken by the government for developing transportation & automotive industries in the region. Further, most top industry players and the surging number of collaborations & partnerships also facilitate the market growth. Therefore, North America is likely to contribute to the Global Robotaxi Market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Robotaxi Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the Global Robotaxi Market are Daimler AG, Ford Motor Company, Cruise LLC (a subsidiary of General Motor Company), Nissan Motor Corporation, Tesla, Lyft, Inc., Volkswagen AG, Volvo Group, Uber Technologies, and WAYMO LLC (a subsidiary of Alphabet Inc.).