NEW YORK, July 7, 2022 /PRNewswire/ — The Cab Services Market size is expected to grow by USD 224.05 billion, at a CAGR of over 18.96% during the forecast period. The growing use of cashless transactions in e-hailing and integration with digital wallets is notably driving the cab services market growth.
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hailing, car rentals, radio cabs, and others) and Geography (APAC, North America,
Europe, MEA, and South America), and the Segment Forecasts,2021-2025″. Request a
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Key Market Dynamics
The expansion of the cab services market is primarily driven by the expanding usage of cashless transactions in e-hailing and integration with digital wallets. A digital wallet-based in-app payment mechanism has taken the place of the cash-based taxi fare system.
The payment system used by cab aggregators has undergone significant change as a result of an increase in smartphone application users. E-hailing applications like Uber and Ola offer digital payment options to their users by collaborating with companies like PayPal, Apple Pay, PayTM, and PayU. The primary factor fueling the growth of the cab services market is technological advancements in the taxi industry.
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Major Five Cab Services Companies:
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market’s competitive landscape and offers information on several
market vendors, including:
- ANI Technologies Private Ltd.
- Beijing Xiaoju Technology Co. Ltd.
- BiTaksi Mobil Teknoloji AS
- BMW Group
- Daimler AG
- Grab Holdings Inc.
- GT Gettaxi (UK) Ltd.
- Lyft Inc.
- Maxi Mobility Spain SL
- Uber Technologies Inc.
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Cab Services Market Type Outlook
During the forecasted timeframe, the e-hailing segment’s market share rise in the cab services sector will be strong. By enabling online booking for its consumers’ personalized journeys, e-hailing businesses hope to increase vehicle utilization. Passengers can reserve a ride on the company’s online application through e-hailing platforms, choosing their routes in the process. Through the application interface of the cab service provider, the passengers can monitor the location of the cab. During the projection period, these advantages will fuel the segment’s expansion.
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segments and their impact in coming years.
Cab Services Market Geography Outlook
APAC will account for 56% of market growth. The two biggest markets in APAC for taxi services are China and India. This region’s market will expand more quickly than those in other areas.
The market for e-hailing cab services is dominated by regional firms, and taxi cabs are widely used throughout the region. Passengers can book the closest available taxi based on their location using the mobile app, which has a GPS navigation system. This would help the APAC cab services market growth throughout the anticipated period.
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Cab Services Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 18.96% |
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Market growth 2021-2025 |
$ 224.05 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
25.55 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 56% |
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Key consumer countries |
China, US, India, UK, and Russian Federation |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope. |
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Key companies profiled |
ANI Technologies Private Ltd., Beijing Xiaoju Technology Co. Ltd., BiTaksi Mobil Teknoloji AS, BMW Group, Daimler AG, Grab Holdings Inc., GT Gettaxi (UK) Ltd., Lyft Inc., Maxi Mobility Spain SL, and Uber Technologies Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- 2.2 Recovery phase
- Exhibit 01: Parent market
- 2.3 Market characteristics
- Exhibit 02: Market characteristics
- 2.4 Value chain analysis
- Exhibit 03: Value chain analysis: Trucking (vehicle rental and taxi companies)
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type – Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 E-hailing – Market size and forecast 2020-2025
- Exhibit 17: E-hailing – Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: E-hailing – Year-over-year growth 2020-2025 (%)
- 5.4 Car rentals – Market size and forecast 2020-2025
- Exhibit 19: Car rentals – Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: Car rentals – Year-over-year growth 2020-2025 (%)
- 5.5 Radio cabs – Market size and forecast 2020-2025
- Exhibit 21: Radio cabs – Market size and forecast 2020-2025 ($ billion)
- Exhibit 22: Radio cabs – Year-over-year growth 2020-2025 (%)
- 5.6 Others – Market size and forecast 2020-2025
- Exhibit 23: Others – Market size and forecast 2020-2025 ($ billion)
- Exhibit 24: Others – Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by Type
- Exhibit 25: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 27: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 28: Geographic comparison
- 7.3 APAC – Market size and forecast 2020-2025
- Exhibit 29: APAC – Market size and forecast 2020-2025 ($ billion)
- Exhibit 30: APAC – Year-over-year growth 2020-2025 (%)
- 7.4 North America – Market size and forecast 2020-2025
- Exhibit 31: North America – Market size and forecast 2020-2025 ($ billion)
- Exhibit 32: North America – Year-over-year growth 2020-2025 (%)
- 7.5 Europe – Market size and forecast 2020-2025
- Exhibit 33: Europe – Market size and forecast 2020-2025 ($ billion)
- Exhibit 34: Europe – Year-over-year growth 2020-2025 (%)
- 7.6 MEA – Market size and forecast 2020-2025
- Exhibit 35: MEA – Market size and forecast 2020-2025 ($ billion)
- Exhibit 36: MEA – Year-over-year growth 2020-2025 (%)
- 7.7 South America – Market size and forecast 2020-2025
- Exhibit 37: South America – Market size and forecast 2020-2025 ($ billion)
- Exhibit 38: South America – Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 39: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 40: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers – Demand led growth
- 8.2 Market challenges
- Exhibit 41: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Competitive scenario
- 9.2 Vendor landscape
- Exhibit 42: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 43: Landscape disruption
- 9.4 Industry risks
- Exhibit 44: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 45: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 46: Market positioning of vendors
- 10.3 ANI Technologies Private Ltd.
- Exhibit 47: ANI Technologies Private Ltd. – Overview
- Exhibit 48: ANI Technologies Private Ltd. – Product and service
- Exhibit 49: ANI Technologies Private Ltd. – Key offerings
- 10.4 Beijing Xiaoju Technology Co. Ltd.
- Exhibit 50: Beijing Xiaoju Technology Co. Ltd. – Overview
- Exhibit 51: Beijing Xiaoju Technology Co. Ltd. – Product and service
- Exhibit 52: Beijing Xiaoju Technology Co. Ltd. – Key offerings
- 10.5 BiTaksi Mobil Teknoloji AS
- Exhibit 53: BiTaksi Mobil Teknoloji AS – Overview
- Exhibit 54: BiTaksi Mobil Teknoloji AS – Product and service
- Exhibit 55: BiTaksi Mobil Teknoloji AS – Key offerings
- 10.6 BMW Group
- Exhibit 56: BMW Group – Overview
- Exhibit 57: BMW Group – Business segments
- Exhibit 58: BMW Group – Key news
- Exhibit 59: BMW Group – Key offerings
- Exhibit 60: BMW Group – Segment focus
- 10.7 Daimler AG
- Exhibit 61: Daimler AG – Overview
- Exhibit 62: Daimler AG – Business segments
- Exhibit 63: Daimler AG – Key news
- Exhibit 64: Daimler AG – Key offerings
- Exhibit 65: Daimler AG – Segment focus
- 10.8 Grab Holdings Inc.
- Exhibit 66: Grab Holdings Inc. – Overview
- Exhibit 67: Grab Holdings Inc. – Product and service
- Exhibit 68: Grab Holdings Inc. – Key news
- Exhibit 69: Grab Holdings Inc. – Key offerings
- 10.9 GT Gettaxi (UK) Ltd.
- Exhibit 70: GT Gettaxi (UK) Ltd. – Overview
- Exhibit 71: GT Gettaxi (UK) Ltd. – Product and service
- Exhibit 72: GT Gettaxi (UK) Ltd. – Key offerings
- 10.10 Lyft Inc.
- Exhibit 73: Lyft Inc. – Overview
- Exhibit 74: Lyft Inc. – Business segments
- Exhibit 75: Lyft Inc. – Key news
- Exhibit 76: Lyft Inc. – Key offerings
- 10.11 Maxi Mobility Spain SL
- Exhibit 77: Maxi Mobility Spain SL – Overview
- Exhibit 78: Maxi Mobility Spain SL – Product and service
- Exhibit 79: Maxi Mobility Spain SL – Key offerings
- 10.12 Uber Technologies Inc.
- Exhibit 80: Uber Technologies Inc. – Overview
- Exhibit 81: Uber Technologies Inc. – Business segments
- Exhibit 82: Uber Technologies Inc. – Key news
- Exhibit 83: Uber Technologies Inc. – Key offerings
- Exhibit 84: Uber Technologies Inc. – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 85: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 86: Research Methodology
- Exhibit 87: Validation techniques employed for market sizing
- Exhibit 88: Information sources
- 11.4 List of abbreviations
- Exhibit 89: List of abbreviations
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