Taxi Market Is Booming Worldwide | ANI Technologies Pvt. Ltd. (OLA), BlaBlaCar, Bolt Technologies OU, Curb Mobility LLC, (Didi Chuxing) Beijing Xiaoju Technology

The Taxi market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a detailed research study on the global Taxi market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Taxi from 2021 till 2026.

The taxi market is was valued at USD 159.6 billion in 2020, and it is estimated to reach USD 327.54 billion by 2026, at a rate of 8.95 % over the forecast period (2021-2026).

Top leading Manufacturers Profiled in Taxi Market Report are: ANI Technologies Pvt. Ltd. (OLA), BlaBlaCar, Bolt Technologies OU, Curb Mobility LLC, (Didi Chuxing) Beijing Xiaoju Technology Co. Ltd, Flywheel Software Inc., Gojek Tech, Grab Holdings Inc., FREE NOW, Kabbee Exchange Limited, Lyft Inc., Uber Technologies Inc.

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Market Overview

In 2020, the global taxi market experienced significant damage due to COVID-19, with lockdowns and restricted moments the demand for taxi. Increase risk associated with crowded places with social distancing measures have had a negative impact on the growth of the market as the preference of the customers has shifted towards personal vehicles. Yet, with ease in lockdown measures demand is returning back to the market and by the end of 2021, it is expected that the market experience growth.

In recent years passengers preferences for utilizing taxi services and ride-sharing services across the developing countries, such as India, China, Vietnam, etc., have increased along with the increase in demand in the developed regions such as the United States and Europe. This has led the companies to enhance the options and expand their operations to be provided in 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 taxi market, in 2020. Increasing traffic congestion and low taxi fare, when compared to other modes of transportation, are the major factors driving the growth of the motorcycle/bike taxi service in the Asia-Pacific market.

Regional Analysis for Taxi Market:

For a comprehensive understanding of market dynamics, the global Taxi market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Asia-Pacific - Leading the Taxi Market

The taxi market is on the rise in the Asia-Pacific. Players, like DiDi Chuxing, Ola, and Onda, are using the high smartphone penetration rate in Asia-Pacific to their full advantage and are capturing the market share through innovation and cutting-edge technology. These South Asian taxi giants are acing the competition in local geographies 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 worlds largest taxi market, and this can be attributed to it being the most populous country. The taxi market in the country began to blossom in the early 1980s. Due to their flexibility, comfort, good availability, and end-mile connectivity offering, taxis quickly became an indispensable service.

India is the second-most populous country in the world, and most of the people fall under the middle-class category who 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 of taxis in the country saw a huge demand and now the bike taxi is becoming even more popular.

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News and Updates

In 2020, DiDi Chuxing alone accounted for a maximum market share compared to its competitors, followed by Uber Technologies and Lyft. Didi is most widely used taxi app in the Chinese market and prevalent in the Brazilian market. Didi started following the footprints of Ubers future strategy by launching a trial run of its self-driving technology in Shanghai, China, in June 2020.

The key players in the industry are investing a lot of money in technology. Uber and DiDi Chuxing are working on self-driving cars. Focus is on enhancing the customer experience. In India, there has been a surge in number of customers opting for outstation services. This has led to players, like Ola, Meru, and Prydo, to offer value added services to their customers at very competitive prices. Ola partnered with Apple Music and other music and video streaming services for its prime play service.

What is the Impact of Covid-19 Outbreak on the Taxi?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Taxi.
- Taxi Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Taxi market:

- What are the recent developments and government policies?
- What are the top trends in the Taxi market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Taxi market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

We Offer Customization On Report Based On Specific Client Requirement:
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