DUBLIN--(BUSINESS WIRE)--The "Online Taxi Services Global Market Report 2022: By Vehicle Type, By Payment Mode, By Ride Type" report has been added to ResearchAndMarkets.com's offering.
This provides strategists, marketers and senior management with the critical information they need to assess the global online taxi services market.
This report focuses on the online taxi services market which is experiencing strong growth. The report gives a guide to the online taxi services market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global online taxi services market is expected to grow from $31.03 billion in 2021 to $34.82 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The market is expected to grow to $53.48 billion in 2026 at a compound annual growth rate (CAGR) of 11.3%.
Companies Mentioned
- ANI Technologies Private Limited
- Uber India Systems Private Limited
- Lyft Inc.
- Didi Chuxing
- GrabTaxi Holdings Pte Ltd.
- Carzonrent (India) Private Limited
- Mega Cabs Private Limited
- Meru Mobility Tech Private Limited
- Savaari Car Rentals Private Limited
- Go-Jek
- Kabbee
- Hailo
- Flywheel
- Curb
- Yellow Cab
- mytaxi
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The online taxi services market consists of sales of taxi services and related goods by entities (organizations, sole traders, and partnerships) that provide passenger transportation by automobile or van through online reservations or on a booking basis. This industry comprises establishments primarily engaged in providing passenger transportation by taxi that is booked by using a mobile application. These companies use online platforms and mobile applications to offer their services to customers. Examples include Uber, Lyft, and Didi. Taxis booked online through an app are mentioned in the report as ride-hailing services. This does not include taxis stopped on roadsides. Only goods and services traded between entities or sold to end consumers are included.
The online taxi services market covered in this report is segmented by service type into ride-hailing, and ride-sharing. Ride-Sharing refers to an arrangement or instance involving the sharing of rides in a motor vehicle with other people, mainly commuters. The different types of vehicles include motorcycles, cars and involve various payments modes such as online, cash. The several types of rides include individual, carpool/ share.
Asia Pacific was the largest region in the online taxi services market in 2021. Western Europe was the second largest region in the online taxi services market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rising internet penetration drives the demand for the online taxi services market. The availability of high-speed internet connectivity and convenience associated with using online services is shifting consumer preferences towards online taxi services. According to the Internet World Stats, the number of internet users increased from 4,208 million to 4,833 million in June 2020. Furthermore, internet users in India are expected to grow from 636.73 million in 2019 to 974.86 million by the end of 2025. A growing number of internet users with smartphones now have taxi services at their fingertips that give the drivers' details and location and benefit the user and thereby fuel the demand for the online taxi services market.
Stringent regulations imposed on online taxi services operations limit the growth of the online taxi services market. Many cases of assault and molestation have been registered against online taxi services as a result of which governments across the world have imposed strict regulations on the providers. These incidents call for a strong policy to secure customers. Governments have imposed strict background checks on Uber and Lyft drivers and mandatory fingerprint background checks to avoid such incidents any further.
The countries covered in the online taxi services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
For more information about this report visit https://www.researchandmarkets.com/r/qai05c
