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BANGALORE, INDIA, October 17, 2018 /24-7PressRelease/ --
The evolution of on-demand taxis in India happened in early 2014 and 2015. Fundamentally, the growth happened at the cost of radio taxis like Traveltime, Wings etc. The popularity of on-demand taxis grew very rapidly because they were able to plug gaps in the intra-city transportation, something the municipal public transport couldn't. The ease of availing a door-door ride through smartphone at a reasonable cost fuelled the on-demand taxi market in India.
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The cab aggregators call themselves a tech company as they don't own any of the vehicles and charge a commission only for their "match-making" services.
The biggest risk to on-demand taxi market in India is the scrutiny it gets from local state governments. The Gujarat government is the latest addition to the list. The Gujarat government is considering a proposal to limit the number of cabs run by cab aggregators at 20,000 each. The Karnataka government has already pushed the cab aggregators to limit the fare charged as per the cost of the vehicle. There are safety risks too and the on-demand taxi operators are using tech to solve that. For example, Ola has rolled out a real-time ride monitoring system to keep tab of any deviation in routes.
Many cities don't have legislation regarding app based taxis. Due to this, new entrants like Namma TYGR in Bengaluru had to stop operations.
The market volume is more than 2 million rides per day but the revenue/ride is among the lowest in the world. For example, in 2017, Uber's India business was worth ~$2 Billion in terms of booking value, which is less than 5% of its US business. In 2018, we estimate the on-demand taxi market size in India at $XX Million growing at YY% till 2023.
About 50 investors are active in this market, and until Oct '18 they have cumulatively poured $4.4 Billion to on-demand taxi market in India. Ola, the market leader has aggressively expanded in tier-2 and tier-3 cities in India, Recently, it forayed in international markets of UK and Australia.
Uber sees India as a very attractive market owing to its sheer volume and growth potential. It has 0.6 million driver partners on its platform and is operational in 32 cities. Ola on the other hand is operational in 113 India cities.
Both Ola and Uber are offering new offerings like foraying in food delivery vertical, wheelchair assistance for physically challenged riders etc. The other cab operators, namely jugnoo and Meru cabs are very small in terms of scale as compared to the two giants.
1. Uber india Systems
2. ANI Technologies(Ola)
3. Jugnoo Rides
4. Meru Cabs
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
1. The market size (both volume and value) of on-demand taxi Market in India in 2017-2023 and every year in between?
2. The market size and forecast segmented by ride category, payment mode and city type
3. Who are the leading investors in this market?
4. Regional mobility trends
5. Who will win Ola vs Uber battle?
6. The biggest problems of on-demand taxi drivers
7. Future strategies of on-demand taxi operators
8. Will electric and autonomous cars really happen in India?
9. Will Mobility as a Service make car ownership irrelevant in India?
10. Will 2030 be the death of internal combustion engine powered cars in India?
To enquire about the report write to us at [email protected]
We are a Market Research firm specialized in mobility domain(s). Our zone of research entails Automotive, Aerospace, marine, locomotive, logistics, and construction & agricultural equipment. We deal in syndicated research, custom research and consumer research for all the aforementioned domains.
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