Taxi Market Global Industry Report 2022: Growing Demand for Ride-Sharing Services Drives Sector

Global Taxi Market

Dublin, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The "Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.The global taxi market size reached US$ 209.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 284.84 Billion by 2027, exhibiting a growth rate (CAGR) of 5.27% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A taxi offers point-to-point and door-to-door services and allows passengers the convenience to book, modify, pre-book, or cancel reservations using a mobile-based applications. Apart from this, taxis are gaining immense popularity across urban settings as they are economical, affordable, easy, and a comfortable mode of transportation.Taxi Market Trends:Increasing demand for online taxi booking channels across the globe is creating a positive outlook for the market. In line with this, the rising penetration of the Internet and smartphones, along with the availability of tracking features, pre-estimated ride fare, driver contact, and vehicle details on the app, is propelling the market growth.

Additionally, the growing demand for ride-sharing services due to the increasing traffic-related problems, fuel costs, and reduced parking spaces is favoring the market growth.

Apart from this, the integration of artificial intelligence (AI) with apps to connect the demand for taxis and time slots preferred by customers and efficiently coordinate and manage transportation systems is providing an impetus to the market growth. Additionally, the introduction of eco-friendly electric taxi services to curb pollution and greenhouse gases (GHG) is acting as another growth-inducing factor.

Furthermore, key players are focusing on providing various offers and discounts, such as monthly passes on shared rides, to reduce the expenses of daily commutes, which is positively influencing the market growth. Other factors, including the increasing working-class population, rising expenditure capacities of consumers, and growing trend of road trips among the younger demographics, are supporting the market growth.

Report Attribute

Details

No. of Pages

143

Forecast Period

2021 - 2027

Estimated Market Value (USD) in 2021

$209.3 Billion

Forecasted Market Value (USD) by 2027

$284.84 Billion

Compound Annual Growth Rate

5.2%

Regions Covered

Global

Key Market Segmentation:The publisher provides an analysis of the key trends in each sub-segment of the global taxi market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on booking type, service type and vehicle type.Breakup by Booking Type:

Online Booking

Offline Booking

Breakup by Service Type:

Ride Hailing

Ride Sharing

Breakup by Vehicle Type:

Cars

Motorcycle

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:The competitive landscape of the industry has also been examined along with the profiles of the key players being ANI Technologies Pvt. Ltd, Bolt Technologies OU, Curb Mobility LLC, Dubai Taxi Corporation, Flywheel, Free Now, Gojek Tech, Lyft Inc., Nihon Kotsu Co. Ltd. and Uber Technologies Inc.Key Topics Covered: 1 Preface2 Scope and Methodology3 Executive Summary4 Introduction5 Global Taxi Market6 Market Breakup by Booking Type7 Market Breakup by Service Type8 Market Breakup by Vehicle Type9 Market Breakup by Region10 SWOT Analysis11 Value Chain Analysis12 Porters Five Forces Analysis13 Price Analysis14 Competitive LandscapeCompanies Mentioned

ANI Technologies Pvt. Ltd

Bolt Technologies OU

Curb Mobility LLC

Dubai Taxi Corporation

Flywheel

Free Now

Gojek Tech

Lyft Inc.

Nihon Kotsu Co. Ltd.

Uber Technologies Inc.

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Global Taxi Market