According to the latest report by IMARC Group, titled “Taxi Market Report by Booking Type (Online Booking, Offline Booking), Service Type (Ride Hailing, Ride Sharing), Vehicle Type (Cars, Motorcycle, and Others), and Region 2023-2028,” the global taxi market size reached US$ 221.1 Billion in 2022. A taxi is a mode of transportation that is characterized by its on-demand services. It is a vehicle, often with a distinguishable color or signage, and utilized to transport passengers from one location to another, typically for a fare. It is driven by trained chauffeurs who navigate urban and suburban streets to facilitate safe and convenient transportation for individuals and groups. It is frequently hailed curbside or summoned through mobile applications, which makes it an integral part of urban mobility solutions. As it is an affordable and time-saving transportation option among individuals, the demand for taxi is increasing worldwide.
Global Taxi Market Trends:
At present, the rising utilization of taxis through online apps due to rapid digitalization across the globe represents one of the major factors contributing to the growth of the market. In line with this, the increasing integration of autonomous driving technologies in taxis to enhance the safety of passengers and drivers is strengthening the growth of the market. Apart from this, the growing demand for eco-friendly taxis that reduce carbon emissions and promote sustainable transportation solutions is positively influencing the market. Besides this, the rising adoption of hassle-free and convenient modes of transportation among the masses is supporting the growth of the market. Looking forward, the market value is projected to reach US$ 298.3 Billion by 2028, expanding at a CAGR of 4.93% during 2023-2028.
- Based on the booking type, online booking exhibits a clear dominance in the market, followed by offline booking.
- On the basis of the service type, the market has been bifurcated into ride hailing and ride sharing. At present, ride hailing holds the largest market share.
- Based on the vehicle type, the market has been segregated into cars, motorcycle, and others. Presently, cars represent the biggest market share.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being ANI Technologies Pvt. Ltd, Bolt Technologies OU, Curb Mobility LLC, Dubai Taxi Corporation, Flywheel, Free Now, Gojek Tech, Lyft Inc., Nihon Kotsu Co. Ltd., and Uber Technologies Inc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Booking Type
- Service Type
- Vehicle Type
|Booking Types Covered
||Online Booking, Offline Booking
|Service Types Covered
||Ride Hailing, Ride Sharing
|Vehicle Types Covered
||Cars, Motorcycle, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ANI Technologies Pvt. Ltd, Bolt Technologies OU, Curb Mobility LLC, Dubai Taxi Corporation, Flywheel, Free Now, Gojek Tech, Lyft Inc., Nihon Kotsu Co. Ltd., Uber Technologies Inc., etc.
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