Global Online Taxi Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The online taxi services market consists of sales of taxi services and related goods by entities (organizations, sole traders, and partnerships) that provide passenger transportation by automobile or van through online reservations or on a booking basis. This industry comprises establishments primarily engaged in providing passenger transportation by taxi that are booked by using a mobile application. These companies use online platforms and mobile applications to offer their services to customers. Examples include Uber, Lyft, and Didi. Taxis booked online through an app are mentioned in the report as ride-hailing services. This does not include taxis stopped on roadsides. Only goods and services traded between entities or sold to end consumers are included.

Global Online Taxi Services Market Size And Drivers:

The global online taxi services market is expected to grow from $23.42 billion in 2020 to $28.65 billion in 2021 at a compound annual growth rate (CAGR) of 22.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $41.22 billion in 2025 at a CAGR of 9.5%. Rising internet penetration drives the demand for the online taxi services market.

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Trends In The Global Online Taxi Services Market

The launch of self-driving taxi services is gaining popularity in the online taxi services market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, in August 2020, AutoX, an autonomous driving startup announced the public launch of robo-taxi services in China.

Global Online Taxi Services Market Segments:
The global online taxi services market is further segmented based on service type, vehicle type, payment mode, ride type and geography.
By Service Type: Ride-Hailing, Ride Sharing
By Vehicle Type: Motorcycles, Cars
By Payment Mode: Online, Cash
By Ride Type: Individual, Carpool/ Share
By Geography: The global online taxi services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Online Taxi Services Global Market Report 2021 is one of a series of new reports from The Business Research Companythat provides online taxi services market overviews, analyzes and forecasts market size and growth for the global online taxi services market, online taxi services market share, online taxi services market players, online taxi services market segments and geographies, online taxi services market’s leading competitors’ revenues, profiles and market shares. The online taxi services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.