DUBLIN–(BUSINESS WIRE)–The “India Online Taxi Services Market” report has been added to from ResearchAndMarkets.com offer.
The online taxi service offers mobility services to customers through a mobile platform connected through Global Positioning System (GPS) or General Packet Radio Service (GPRS) system. Organized taxi services were introduced to the Indian market with the launch of Mega Cabs services in 2000, and the market shifted from the concept of car ownership to the ride-sharing alternative. The online taxi or radio taxi service providers in India operate either as aggregators or as radio taxis depending on their tracking feasibility.
With the transition from the conventional tracking system based on radio signals to the GPS or GPRS system, the market for organized taxis in India has witnessed tremendous growth. In fiscal 2019, the organized taxi market held a share of about 11.5% of the total revenue generated by the entire taxi market in India. The online taxi services market in India was valued at INR 29.75 billion in fiscal year 2019. The market is expected to grow at a compound annual growth rate (CAGR) of approximately 16.60% to reach a sales value of INR 61.59 billion by 2024. Rising smartphone penetration in India, improving availability of high-speed internet connectivity, increasing investment in the online taxi market by Foreign Institutional Investors (FIIs) and increasing disposable income are the major factors driving the growth of the market.
However, the imposition of Goods and Services Tax (GST), shortage of online taxi services due to reduced incentives for drivers, skyrocketing transport fares and longer waiting times. Waiting for passengers, along with the growing popularity of affordable taxi ridesharing services like SRide and Quick Ride are some of the factors hampering the growth of the market. With the implementation of the new Indian government policy, which does not allow the marketing of ride-sharing services, the growth of the online taxi services market in India is expected to rebound.
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 fiscal 2019, Ola Cabs accounted for almost 72.44% of the total revenue generated from the online taxi services market in India, while Uber India held a share of about 21.01%. Other market players include Meru Mobility Tech Private Limited, Mega Cabs Private Limited and Carzonrent (India) Private Limited, and together they held approximately 6.55% of the overall market in FY2019. Radio signal based tracking The GPS and GPRS based tracking system was introduced by market leader, ANI Technologies Private Limited. The company’s wide geographic reach in India (152 cities), coupled with its wide range of services available to customers belonging to different income profiles, has helped the company achieve such a high market share. Large-scale investments by major private equity firms in major market players and the introduction of new user-friendly features in their applications by the companies are expected to further accelerate their market growth.
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
Main topics covered:
Chapter 1: Executive Summary
Chapter 2: Socio-economic indicators
Chapter 3: Overview
3.1. Market definition and structure
3.2. Evolution of the organized taxi industry in India
3.3. Economic model and operating model of radio taxi services
Chapter 4: Market Overview
4.1. Overview of taxi services market in India
4.2. India Online Taxi Services Market Overview
4.3. PESTEL analysis
Chapter 5: Market Segmentation
5.1. Online taxi services market in India – segmentation
5.1.1. Online taxi services market segmentation – market share of top three companies
Chapter 6: Market Influencers
6.1. Market factors
6.2. Market challenges
Chapter 7: Government Regulations
7.1. Government regulations (central government)
7.2. Government Regulations (State Governments)
Chapter 8: Competitive Landscape
8.1. Porter’s Five Forces Analysis
8.2. Comparative analysis by player
8.3. Comparative study – two best players
8.4. ANI Technologies Private Limited
8.5. Carzonrent (India) Private Limited
8.6. Mega Cabs Private Limited
8.7. Meru Mobility Tech Private Limited
8.8. Savaari Car Rentals Private Limited
8.9. Uber India Systems Private Limited
Chapter 9: Recent Developments
Chapter 10: Appendix
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