India Online Taxi Services Market 2023 Poised for Record-Breaking Revenue Growth in the Coming Years

Introducing the Most Recent Research Report [2023-2032] on the India Online Taxi Services Market: Size, Emerging Trends, Market Share, Remarkable Growth, Segmentation, Comprehensive Analysis, and Forward-Looking Projections for 2032. This report presents an in-depth examination of the critical drivers propelling global market sales. Within its 100 pages, the report delivers a comprehensive evaluation of the industry's current status, encompassing aspects such as market size, market share, anticipated trends, growth rate, distribution channels, and more.

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The online taxi services market in India was valued at INR 29.75 Bn in FY 2019. Further, the market is anticipated to expand at a compound annual growth rate (CAGR) of 16.60% to reach a sales value of INR 61.59 Bn by 2024.

The online taxi service offers mobility services to customers via mobile platform connected through the Global Positioning System (GPS) or General Packet Radio Service (GPRS) system. Organized cab services were introduced in the Indian market with the launch of Mega Cabs services in 2000, and the market evolved from the car-ownership concept to the alternative of ride-sharing. Online taxi or radio taxi service providers in India operate either as aggregators or as radio cabs, based on their tracking feasibility.

Market Insights:

With the transition from the radio signals-based conventional tracking system to the GPS or GPRS-enabled system, the organized taxi market in India witnessed a momentous growth. In FY 2019, the organized taxi market held a share of ~11.5% of the total revenue generated by the overall taxi market in India.

Rise in smartphone penetration in India, improved availability of high-speed internet connectivity, increasing investments in the online taxi market by the foreign institutional investors (FII) and swelling disposable income are the major factors that are driving the growth of the market. However, the imposition of goods and services tax (GST), shortage in the supply of online cab services as a consequence of the reduction in drivers’ incentives, surge in ride fares and extended wait-time for passengers, and the growing popularity of affordable ride-sharing services like SRide and Quick Ride are some of the factors impeding market growth. With the implementation of the new policy of the Indian government, that does not allow commercialization of ride-sharing services, the growth of the online taxi services market in India is expected to rebound.

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Competition Analysis:

The online taxi services market in India is mainly driven by two major players – ANI Technologies Private Limited (Ola Cabs) and Uber India Systems Private Limited (Uber India). In FY 2019, Ola Cabs accounted for almost 72.44% of the total revenue generated by the online taxi services market in India, whereas, Uber India held a share of ~21.01%. Other players in the market include Meru Mobility Tech Private Limited, Mega Cabs Private Limited and Carzonrent (India) Private Limited, and together they held ~6.55% of the overall market in FY 2019. The transition from the radio signal-based tracking system to GPS and GPRS-based tracking system was introduced by the market leader, ANI Technologies Private Limited. The company's extensive geographical reach within India (152 cities), coupled with its wide range of services available for customers belonging to different income profiles has helped the company to fetch such a high market share. Large scale investments by big private equity firms on major players of the market and introduction of new customer-friendly features in their applications by the companies are anticipated to further accelerate their market growth.

Companies covered

ANI Technologies Private Limited
Carzonrent (India) Private Limited
Mega Cabs Private Limited
Meru Mobility Tech Private Limited
Savaari Car Rentals Private Limited
Uber India Systems Private Limited

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Core Chapters:

Chapter 1: Introduction: This chapter outlines the scope of the report and provides an executive summary of the different market segments, including the market size, future development potential, and evolution of the market in the short to mid-term and long term.

Chapter 2: Competitive Landscape: Here, we conduct a detailed analysis of the competitive landscape of India Online Taxi Services manufacturers, including price, output, and revenue market share, latest development plans, mergers, and acquisition information.

Chapter 3: Production and Value Analysis: This chapter provides a quantitative analysis of the production/output and value of India Online Taxi Services by region/country, identifying the market size and development potential of each region in the next six years.

Chapter 4: Consumption Analysis: We analyze the consumption of India Online Taxi Services in different regions and countries, introducing the market development, future prospects, market space, and capacity of each country in the world.

Chapter 5: Product Segment Analysis: This chapter provides an analysis of various market segments according to product type, covering the market size and development potential of each market segment.

Chapter 6: Application Segment Analysis: We analyze various market segments according to application, covering the market size and development potential of each market segment.

Chapter 7: Company Profiles: This chapter provides detailed profiles of key players in the market, including product production/output, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Industrial Chain Analysis: Here, we analyze the industrial chain, including the upstream and downstream of the industry.

Chapter 9: Sales Channel Analysis: We analyze the sales channel, distributors, and customers in this chapter.

Chapter 10: Market Dynamics Analysis: This chapter introduces the market dynamics, latest developments, driving factors, restrictive factors, challenges, and risks faced by manufacturers in the industry, along with an analysis of relevant policies.

Chapter 11: Production and Supply Forecast: We provide a production and supply forecast for the global and regional market.

Chapter 12: Consumption and Demand Forecast: This chapter provides a consumption and demand forecast for the global and regional market.

Chapter 13: Type and Application Forecast: We provide a quantitative analysis of the market size and development potential of each market segment in the next six years.

Chapter 14: Conclusion: Finally, we present the main points and conclusions of the report, providing readers with a comprehensive understanding of the market and its potential growth prospects.

Our most recent research report showcases the thriving expansion of the India Online Taxi Services Market and offers in-depth insights into the projected market size, share, and revenue until 2032.

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This release was published on openPR.