Press release
Online Taxi Services Global Market Growth is Booming with Progressive Trends and Exciting Opportunities By 2033
Online Taxi Services Global Market
The Business Research Company presents an extensive market research report on the Online Taxi Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The online taxi services market size has grown rapidly in recent years. It will grow from $38.89 billion in 2023 to $43.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to ride-sharing convenience, urbanization and population density, mobile app penetration, cost efficiency and transparency, changing consumer behavior.
The online taxi services market size is expected to see rapid growth in the next few years. It will grow to $64.74 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to last-mile connectivity solutions, sustainable and eco-friendly transportation, integration with public transit, advancements in payment systems, regulatory support and partnerships. Major trends in the forecast period include digital wallet and contactless payments, dynamic pricing algorithms, partnerships with ride-hailing platforms, focus on customer experience and loyalty programs, urban mobility initiatives and regulations.
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Key Market Players:
Major companies operating in the online taxi services market report are Uber Technologies, Didi Chuxing Technology Co. Ltd., Zimride Inc., Yandex.Taxi LLC, Lyft Inc., JunoUSA LP, GrabTaxi Holdings Pte Ltd., Bolt Technology OÜ, Careem Networks FZ-LLC, Gett Inc., Wingz Inc., mytaxi AG, 99 Tecnologia Ltda., Via Transportation Inc., Addison Lee Group Limited, Comuto company, Sidecar Technologies Inc., DirectCab Group Limited, Easy Taxi Serviços Ltda, PT Gojek Indonesia, Mega Cabs Private Limited, Hailo Network Limited, Savaari Car Rentals Private Limited, ANI Technologies Private Limited, Zūm Services Inc., Wheely Technologies Limited, Curb Mobility LLC, Carzonrent (India) Private Limited, Yellow Cab Co. Ltd., Meru Mobility Tech Private Limited, LeCab SAS, Beat Mobility S.A., Arro Inc.
Market Drivers:
Rising internet penetration drives the demand for the online taxi service market. The availability of high-speed internet connectivity and the convenience associated with using online services is shifting consumer preferences towards online taxi services. According to the Internet World Stats, the number of internet users increased from 4,208 million to 4,833 million in June 2020. Furthermore, internet users in India are expected to grow from 636.73 million in 2019 to 974.86 million by the end of 2025. A growing number of internet users with smartphones now have taxi services at their fingertips that give the drivers' details and location and benefit the user, thereby fuelling the demand for the growth of online taxi services market.
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https://www.thebusinessresearchcompany.com/report/online-taxi-services-global-market-report
The online taxi services market covered in this report is segmented -
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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