Global App Based on Call Taxi Industry
New Study On “Global App Based on Call Taxi Market Share, Supply, Analysis and Forecast to 2025” Added to Wise Guy Reports Database
In the beginning, people stand on the road and hail a passing taxi, or call a nearby taxi stand and summon a taxi. Then the system changed to people calling a taxi company, whose operator with the help of a pay phone, identifies a nearby car and send it to the customer. This system has also been changed with the arrival of highly imaginative application based taxi companies like Uber Technologies Inc, Lyft Inc, Didi Chuxing, Grab Taxi Holding PTE Ltd, ANI Technologies Pvt Ltd (OLA)
Taxi apps now rule the market. Reports say, taxi dispatch software business is booming. This market valued at $ 199 million is 2017 is expected to reach $ 722.5 million by 2025, a CAGR of 17.25%. The advent of e-hailing Taxi applications was a game changing innovation in the world of transportation.
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Following is a country-wise percentage of riders using e-hailing applications: China-51, Mexico-46, Spain-35, Brazil-33, USA,UK and Canada-30 each, France-26, India-23,Germany-20.
Booming of air and water taxi market
Besides land taxis, now booming is the business of air taxis and water taxis. Air taxis are known as flying cars. Water taxi market is expected to reach $ 500 million by 2014. Water tourism is one of the factors aiding this boom.
Driverless Robo-cars will be the future of Taxi business
But the future of Taxi business rests with the self driven, Robo cars. Being driverless, these cars reduce the cost of the ride hugely by saving the driver profits. Profit shared with drivers was the largest profit eating factor of taxi business. Though the Robo car business is expected to leave around 6.2 million drivers jobless, it will enhance the profit from this business to entrepreneurs. This factor will reduce the cost of rides too drastically. Moreover, governments of the entire world support this zero emission mode of transport. So, self driven cars will determine the future of Global Taxi market. These cars will be on road 24×7, unlike human driven cars.
Chief players in the market
Uber Technologies Inc, Lyft Inc, Didi Chuxing, Grab Taxi Holding PTE Ltd, ANI Technologies Pvt Ltd (OLA) are the chief players in e- taxi business. Now many of them hugely invest in robo-car business too. Google like major global players are involved in producing self-driven electric cars. Volvo is collaborating with Uber technologies to roll out electric cars by 2021, fifty percentage of them will be fully self-driven robo-cars. Toyota has announced investing $500 million in Uber Technologies to produce self driven cars. Uber is the largest player today with an estimated business volume of $ 68 billion.
Market forecast
Reports say, taxi market is worth $ 108 million today, out of which $ 36 million is from the e-hailing sector led by Uber and Lyft. Taxi market is forecasted to swell to $285 billion by 2030. From 2018 to 2024, it is expected to grow at a CAGR of 9.22%.
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