Taxi Market - Rise In Demand

 Taxi is a type of vehicle leasing service, which includes hiring the service of a driver along with the vehicle. It can be availed by a single or multiple passenger on basis of sharing and non-sharing option. A passenger can book or hail a taxi ride via a call & message, or going to service provider’s physical location and with the help of a smartphone application or website using internet, which is also known as e-hailing.

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The factors such as rise in demand for ride-hailing and ride-sharing services, increase in demand from online taxi booking channels and surge in cost of vehicle ownership are anticipated to drive the market growth. However, improvement of public transportation and varying government regulations on taxi services in different countries across the world hinder the market growth. Further, development of robo-taxies and emergence of eco-friendly electric cab services are some of the factors that are anticipated to offer lucrative opportunities for market growth during the forecast period.

Key Market Players - 

Bolt Technology OU, Nihon Kotsu Co., Ltd, Gett, Yandex, ANI Technologies Pvt. Ltd., Beijing Xiaoju Technology Co, Ltd., Uber Technologies Inc, Dubai Taxi Corporation, Gojek Tech, FREE NOW, Grab, Lyft, Inc, Curb Mobility, Maxi Mobility Spain, S.L., Careem

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A passenger can book or hail a taxi ride via a call & message, or by going directly to the service provider’s physical location and with the help of a smartphone application or website using internet, which is also known as e-hailing. Also, customer can hire a taxi for a decided route, which would be pre-defined by the passenger.

Key Findings Of The Study

  • By booking type, the online booking segment is expected to register a significant growth during the forecast period.
  • By service type, the ride sharing segment is anticipated to exhibit significant growth in the future.
  • By vehicle type, the motorcycle segment is projected to lead the global taxi market, owing to higher CAGR as compared to commercial.
  • By region, LAMEA is anticipated to register the highest CAGR.


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