Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6384
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Market Overview:

The global taxi market size reached US$ 221.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 298.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.93% during 2023-2028.

A taxi is a motor vehicle licensed to transport passengers in return for payment on a shared or non-shared basis. Passenger cars, motorcycles, scooters, vans, buses, auto rickshaws, minivans, bicycles, and tricycles are common vehicle types used for taxi services. A taxi offers point-to-point and door-to-door services and allows passengers the convenience to book, modify, pre-book, or cancel reservations using a mobile-based applications. Apart from this, taxis are gaining immense popularity across urban settings as they are economical, affordable, easy, and a comfortable mode of transportation.

Taxi Market Trends:

The increasing demand for online taxi booking channels across the globe is creating a positive outlook for the market. In line with this, the rising penetration of the Internet and smartphones, along with the availability of tracking features, pre-estimated ride fare, driver contact, and vehicle details on the app, is propelling the market growth. Additionally, the growing demand for ride-sharing services due to the increasing traffic-related problems, fuel costs, and reduced parking spaces is favoring the market growth. Apart from this, the integration of artificial intelligence (AI) with apps to connect the demand for taxis and time slots preferred by customers and efficiently coordinate and manage transportation systems is providing an impetus to the market growth. Additionally, the introduction of eco-friendly electric taxi services to curb pollution and greenhouse gases (GHG) is acting as another growth-inducing factor. Furthermore, key players are focusing on providing various offers and discounts, such as monthly passes on shared rides, to reduce the expenses of daily commutes, which is positively influencing the market growth. Other factors, including the increasing working-class population, rising expenditure capacities of consumers, and growing trend of road trips among the younger demographics, are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global taxi market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on booking type, service type and vehicle type.

Breakup by Booking Type:

  • Online Booking
  • Offline Booking

Breakup by Service Type:

Breakup by Vehicle Type:

  • Cars
  • Motorcycle
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Booking Type, Service Type, Vehicle Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global taxi market was valued at US$ 221.1 Billion in 2022.

We expect the global taxi market to exhibit a CAGR of 4.93% during 2023-2028.

The rising demand for taxis across urban settings, as they are affordable, provide point-to-point and door-to-door services, offer convenience to book, modify, pre-book, or cancel reservations by using mobile-based applications, etc., is primarily driving the global taxi market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of personal vehicles by individuals for daily commute to prevent the further transmission of the coronavirus infection, thereby negatively impacting the global taxi market.

Based on the booking type, the global taxi market can be segmented into online booking and offline booking. Currently, online booking holds the majority of the total market share.

Based on the service type, the global taxi market has been divided into ride hailing and ride sharing, where ride hailing currently exhibits a clear dominance in the market.

Based on the vehicle type, the global taxi market can be categorized into cars, motorcycle, and others. Among these, cars account for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global taxi market include 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.

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Taxi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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