Global Robotaxi market is expected to grow at a CAGR of 60% during 2021-2026

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 growing trend of autonomous vehicles across the world has augmented the demand for Robotaxis, thereby boosting the growth of the Robotaxi market over the forecast period.

Further, Robotaxis reduce human involvement in driving the vehicle to a much larger extent and increases the seating capacity, thereby motivating the growth of the Robotaxi market across the globe. Additionally, the rising demand for emission-free & fuel-efficient vehicles and mounting infrastructural development across the world fuels the market growth. However, cybersecurity threats could hinder the growth of the Robotaxi market.

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Key questions answered in the study
1. What are the current and future trends in the Global Robotaxi market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Robotaxi market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Robotaxi market service providers across various regions?

Impact of COVID-19
Lockdown imposed in the wake of the sudden outbreak of the COVID-19 pandemic has adversely affected the overall global economy. Due to the temporary shutdown of manufacturing units, stringent rules regarding the movement of people, disruption in the supply chain, and restrictions on cross-border trade, the Global Robotaxi market witnessed a decline in its revenue. However, rising safety concerns will provide a profitable opportunity for the growth of the Robotaxi market in the coming years as autonomous vehicle lowers human involvement to a certain extent. Therefore, as the lockdown uplifted, the market is likely to resume and regain its growth.

"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 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.

For detailed analysis: https://www.marknteladvisors.com/research-library/global-robotaxi-market.html

Sensor Exhibits Fastest Growth

Based on the Component, the market segments are LiDAR, RADAR, Camera, and Sensor. Out of these, the Sensor segment is likely to register the fastest growth in the Global Robotaxi Market over the forecast period because of sensors' integration into autonomous vehicles, which is one of the crucial features that enhances the vehicles' operation.

Vehicles equipped with technologically advanced sensors can detect obstacles in their way, thereby reducing the chances of accidents caused due to human errors. Therefore, the segment is likely to contribute to the growth of the Global Robotaxi Market in the forecast period, says 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.).

Market Segmentation:
1. By Application (Good Transportation, Passenger Transportation, Infotainment and Driver Assistance)
2. By Component (LiDAR, RADAR, Camera, Sensor)
3. By Propulsion Type (Electric Vehicles, Fuel Cell Vehicles, Hybrid Vehicles)
4. By Level of Autonomy (Level 4, Level 5)
5. By Vehicle (Car, Shuttle/Van)
6. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
7. By Country (U.S, Canada, Brazil, Argentina, Mexico, Germany, France, The U.K, Spain, Italy, Russia, China, India, Japan, Australia, South Korea, UAE, Saudi Arabia, South Africa)
8. By Competitors (Cruise LLC (subsidiary of General Motor Company), Daimler AG, Ford Motor Company, Lyft, Inc., Nissan Motor Corporation, Tesla, Uber Technologies, Volkswagen AG, Volvo Group, WAYMO LLC (subsidiary of Alphabet Inc.))

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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