Cab Services Industry Trends, Drivers, Strategies, End User, Applications and Competitive Landscape

Publisher’s market study identifies the high-quality user interface of E-hailing apps to be one of the primary growth factors for the cab services market. E-hailing apps such as Uber, Ola, and Lyft are integrated with 2D or 3D maps that facilitates the customers to easily and accurately track their booked cab. Ease of operations and additional relevant features related to destinations and routes are increasingly influencing the expanding customer base. In addition to the wide customer base in developed countries, the customer base in developing countries is steadily expanding. Our market analysts estimate that the market will grow steadily at a CAGR of more than 8% by 2021.

Social media platforms such as Twitter, Facebook, and Google + provides customer behavior data to the cab service companies. Uber and Ola use analytics that efficiently measures the supply and demand of their taxi operations, and understand the pattern of demand during peak hours. Analytical technology also aids in the implementation of dynamic pricing model that calculates the pricing during peak hours. The increasing use of social media and analytics is identified to be one of the key trends contributing towards the growth of the cab services market.

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Competitive landscape and key vendors

The cab services market is significantly fragmented owing to the presence of few large and small players offering customized cab services. Large OEMs, such as BMW Group and Daimler's Mytaxi are providing car rental services that can be hired for a certain period of time by the customers, primarily in Americas and Europe. E-hailing apps such as Uber and Ola provide tough competition to the vendors in the cab booking service market.

The leading vendors in the market are

BMW Group

Didi Chuxing

Daimler

Lyft

Uber

The other prominent vendors in the market are BiTaksi, Cabify, Grab, Gett, GoCatch, Ingogo, LeCab, and Ola.

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