Worldwide Taxi Industry to 2027 - Featuring Careem, Curb Mobility and Dubai Taxi Among Others - ResearchAndMarkets.com

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DUBLIN, August 04, 2021--(BUSINESS WIRE)--The "Taxi Market by Booking Type, Service Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

A taxi, also known as a cab, is a type of vehicle for hire with driver used by a single passenger or small group of passengers, often for a shared or non-shared ride. A taxi or a cab conveys passengers between locations of their choice. This differs from public transport, as here the pick-up and drop-off locations are decided by the customer, and not by the service provider. There are various distinct forms of taxi, which includes limousines, hackney carriages, and private hire vehicles including passenger car, motorcycle, scooters, minivan, van, buses & coaches, auto rikshaw, bicycles, and tricycles. Taxi services are typically provided by automobiles, but in some countries various human-powered vehicles such as rickshaw or pedicab, animal-powered vehicles such as the Hansom cab and water taxies or air taxies are also used. Customers can book a ride via text message request, phone calls, or by going directly service provider's physical location.

The factors such as rise in demand for ride-hailing and ride-sharing services, increase in requirement 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 expected to offer lucrative opportunities for the market growth during the forecast period.

The market is segmented on the basis of booking type, service type, vehicle type, and region. By booking type, it is bifurcated into online booking and offline booking. By service type, it is divided into ride hailing and ride sharing. By vehicle type, it is categorized into cars, motorcycle & scooter and other. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Scenario Analysis

  • Social distancing norms and regulations implemented by government and healthcare authorities has restricted the usage of taxi services for daily commute.

  • Users prefer to travel in their own vehicles due to health and safety concerns, hampering the market size during pandemic.

  • The nature of the virus being active on surfaces for a long period of time as well as the fear of infection raised in the minds of people has compelled them to avoid traveling. Thus, the people are more likely to avoid traveling by taxies.

  • Many leading market players are changing their offerings such as groceries, meals, and medical supplies deliveries in the COVID -19 pandemic, which is expected to heal the growth of market.

  • The increasing vehicle ownership cost and reducing trust in the ride-hailing services such as Ola, Uber, is expected to develop growth opportunities for bike sharing, carpooling and ridesharing services in post COVID situation

Key Benefits

  • This study presents analytical depiction of the global taxi market analysis along with current trends and future estimations to depict imminent investment pockets.

  • The overall taxi market opportunity is determined by understanding profitable trends to gain a stronger foothold.

  • The report presents information related to the key drivers, restraints, and opportunities of the global taxi market with a detailed impact analysis.

  • The current taxi market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.

  • Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Market Dynamics

Drivers

  • Rising demand for ride-hailing and ride-sharing services

  • Increasing demand from online taxi booking channels

  • Increase in cost of vehicle ownership

Restraints

  • Improvement of public transportation

  • Varying government regulations on taxi services in different countries across the world

Opportunities

  • Development of Robo-taxies

  • Emergence of eco-friendly electric cab services

Key Players

  • ANI Technologies Pvt. Ltd.

  • Beijing Xiaoju Technology Co, Ltd.

  • Bolt Technology OU

  • Careem

  • Curb Mobility

  • Dubai Taxi Corporation

  • FREE NOW

  • Gett

  • Gojek Tech

  • Grab, Lyft, Inc,

  • Maxi Mobility Spain

  • S.L., Nihon Kotsu Co., Ltd.,

  • Uber Technologies Inc.

  • Yandex

For more information about this report visit https://www.researchandmarkets.com/r/ngamey

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005591/en/

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