What is the current size of the Global Robotaxi Market?

 Robotaxis are the self-driving taxis that are autonomous vehicles, which are operated by an on-demand mobility service. They are self-driving vehicles any human involvement for the operation of the vehicle. With the introduction of automation in vehicles, the demand for self-driving vehicles has increased, which has supplemented the growth of robotaxi across the globe. Also, autonomous vehicles have gained popularity among customers which has made companies to develop vehicles that do not require a human to drive the vehicle. With the introduction of automation in vehicles, the need for a human driver has been reduced thereby reducing the chances of accidents caused due to human errors.

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Robotaxis to reduce overall operating costs and increase profit margins for ride-sharing companies and need for enhanced road safety and traffic control are driving the growth of the robotaxi market. However, the high R&D expenditure and complexity in the adoption of robotaxis may restrain the growth of the robotaxi market. Furthermore, robotic assistance in the delivery of goods offer new opportunities for market growth is anticipated to create market opportunities for the robotaxi market during the forecast period.