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Sep 30, 2020 10:26 PM ET

Online Taxi Services Market Checkout The Unexpected Future 2020-2026| Mega Cabs, Meru Mobility Tech, Savaari Car Rentals, Uber


iCrowd Newswire - Sep 30, 2020

A new research document is added in HTF MI database of 58 pages, titled as ‘Online Taxi Services Market in India 2019′ with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Asia-Pacific, Middle East and Africa, South America & Others and important players/vendors such as ANI Technologies Private Limited, Carzonrent (India) Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited etc. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2019-2025.

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Summary
The online taxi service offers mobility services to customers via mobile platform connected through the Global Positioning System (GPS) or General Packet Radio Service (GPRS) system. Organized cab services were introduced in the Indian market with the launch of Mega Cabs services in 2000, and the market evolved from the car-ownership concept to the alternative of ride-sharing. Online taxi or radio taxi service providers in India operate either as aggregators or as radio cabs, based on their tracking feasibility.

Market Insights:
With the transition from the radio signals-based conventional tracking system to the GPS or GPRS-enabled system, the organized taxi market in India witnessed a momentous growth. In FY 2019, the organized taxi market held a share of ~11.5% of the total revenue generated by the overall taxi market in India. The online taxi services market in India was valued at INR 29.75 Bn in FY 2019. Further, the market is anticipated to expand at a compound annual growth rate (CAGR) of ~16.60% to reach a sales value of INR 61.59 Bn by 2024. Rise in smartphone penetration in India, improved availability of high-speed internet connectivity, increasing investments in the online taxi market by the foreign institutional investors (FII) and swelling disposable income are the major factors that are driving the growth of the market.

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However, the imposition of goods and services tax (GST), shortage in the supply of online cab services as a consequence of the reduction in drivers’ incentives, surge in ride fares and extended wait-time for passengers, and the growing popularity of affordable ride-sharing services like SRide and Quick Ride are some of the factors impeding market growth. With the implementation of the new policy of the Indian government, that does not allow commercialization of ride-sharing services, the growth of the online taxi services market in India is expected to rebound.

Competition Analysis:
The online taxi services market in India is mainly driven by two major players – ANI Technologies Private Limited (Ola Cabs) and Uber India Systems Private Limited (Uber India). In FY 2019, Ola Cabs accounted for almost 72.44% of the total revenue generated by the online taxi services market in India, whereas, Uber India held a share of ~21.01%. Other players in the market include Meru Mobility Tech Private Limited, Mega Cabs Private Limited and Carzonrent (India) Private Limited, and together they held ~6.55% of the overall market in FY 2019. The transition from the radio signal-based tracking system to GPS and

GPRS-based tracking system was introduced by the market leader, ANI Technologies Private Limited. The company’s extensive geographical reach within India (152 cities), coupled with its wide range of services available for customers belonging to different income profiles has helped the company to fetch such a high market share. Large scale investments by big private equity firms on major players of the market and introduction of new customer-friendly features in their applications by the companies are anticipated to further accelerate their market growth.

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Companies covered
ANI Technologies Private Limited, Carzonrent (India) Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Uber India Systems Private Limited

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Evolution of organized taxi sector in India
3.3. Business model and operational model of radio taxi services

Chapter 4: Market overview
4.1. India taxi services m

….Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2577613-online-taxi-services-market 

It’s vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.



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