Online Taxi Services Market Global Production, Demand and Business Outlook 2022 to 2030-ANI Technologies Private Limited; Uber India Systems Private Limited

The MarketInsightsReports has added a new statistical data to its repository titled as, Online Taxi Services Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. This market report is a detailed study on the growth, investment opportunities, market statistics, growing competition analysis, major key players, industry facts, important figures, sales, prices, revenues, gross margins, market shares, business strategies, top regions, demand, and developments.

The global online taxi services market is expected to grow from $23.42 billion in 2020 to $28.65 billion in 2021 at a compound annual growth rate (CAGR) of 22.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $41.22 billion in 2030 at a CAGR of 9.5%.

Top Companies in the Online Taxi Services Market- 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; Meru Mobility Tech Private Limited; Savaari Car Rentals Private Limited; Go-Jek; Kabbee; Hailo; Flywheel; Curb; Yellow Cab; mytaxi and other.

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Market overview
In 2020, the global Online Taxi Services experienced a significant blow due to COVID-19, with lockdowns and restricted movements reducing the demand for the taxi. Post lockdown, increased risk of contamination associated with public transport has compelled people to abide by social distancing measures. Customers are showing a greater interest in personal vehicles, which is negatively impacting the Online Taxi Services. Nevertheless, with ease in lockdown measures and the availability of COVID-19 vaccines, the demand is slowly returning to the market. It is expected that by the end of 2021, the market will likely experience growth again.

In recent years, passengers’ preferences to avail themselves taxi and ride-sharing services across developing countries, such as India, China, Vietnam, etc., have increased. There has also been an increase in taxi demand in developed regions, such as the United States and Europe. This has led the companies to enhance the options available (such as the introduction of motorcycle/bike taxi) and expand their operations to be available through mobile applications, to retain their respective market shares in a highly competitive market.

Asia-Pacific captured a major share of the market, accounting for 73.14% of the global Online Taxi Services in 2020. When compared to other modes of transportation, increasing traffic congestion and low taxi fare are the major factors driving the growth of the motorcycle/bike taxi service in the Asia-Pacific marketThe factors such as rise in demand for ride-hailing and ride-sharing services, increase in demand from online taxi booking channels and increase in cost of vehicle ownership are anticipated to drive the Online Taxi Services 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 expected to offer lucrative opportunities for the market growth during the forecast period.

Industry news

In September 2019, Mahindra & Mahindra, an Indian multinational vehicle manufacturing corporation announced the acquisition of 55% stakes in Meru Cabs, a taxi cab service provider for $27.3 million (Rs 201.5 crore). With the acquisition of Meru Cabs, Mahindra & Mahindra plans to expand its business with participation in the growing shared mobility space. Meru Cabs is an India-based ridesharing company operating in the ride-hailing segment and corporate transportation solutions.

Global Online Taxi Services Market Split by Product Type and Applications:

By Service Type: Ride-Hailing; Ride Sharing

 By Vehicle Type: Motorcycles; Cars

 By Payment Mode: Online; Cash

 By Ride Type: Individual; Car Pool/ Share

Regional Analysis
The Online Taxi Services is witnessing significant growth in Asia-Pacific. Players like DiDi Chuxing, Ola, and Onda are using the high smartphone penetration rate in Asia-Pacific to their advantage. They are capturing the market share through innovation and cutting-edge technology. These South Asian taxi giants are acing the competition in the regional markets and are expanding overseas. Chinese taxi giant Didi Chuxing has started operations in Mexico, Australia, Costa Rica, Japan, and many other countries, whereas the Indian market leader Ola is serving in Australia, New Zealand, and the United Kingdom.

China has the world’s largest Online Taxi Services, which can be attributed to its being the most populous country in the world. The Online Taxi Services in the country began to grow in the early 1980s. Due to their flexibility, comfort, good availability, and end-mile connectivity offering, taxis quickly became an essential service.

India is the second-most populous country globally, where most people fall under the middle-class economic category, and utilize cabs and auto-rickshaws (local three-wheeler taxis) for commuting short distances. The taxi industry is changing continuously, even on a quarterly basis, due to the different socio-economic and political situations arising in the country. Pooling/sharing taxis in the country saw huge demand, and now bike taxi is becoming even more popular, primarily because of its affordability.

Browse Full Report at: https://www.marketinsightsreports.com/reports/05182898628/online-taxi-services-global-market-report-2021-covid-19-growth-and-change-to-2030-including-1-by-service-type-ride-hailing-ride-sharing-2-by-vehicle-type-motorcycles-cars-3-by-payment-mode-online-cash-4-by-ride-type-individual-car-pool-share-covering-ani-technologies-private-limited-uber-india-systems-private-limited-lyft-inc-didi-chuxing-grabtaxi-holdings-pte-ltd?Mode=126

Major Points Covered in Table of Contents:

– Overview of Online Taxi Services Market
– Global Market Status and Forecast by Regions
– Global Market Status and Forecast by Types
– Global Market Status and Forecast by Downstream Industry
– Market Driving Factor Analysis
– Market Competition Status by Major Manufacturers
– Major Manufacturers Introduction and Market Data
– Upstream and Downstream Market Analysis
– Cost and Gross Margin Analysis
– Marketing Status Analysis
– Market Report Conclusion
– Research Methodology and Reference

Finally, the Online Taxi Services Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principal locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Online Taxi Services Industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation

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