Online Taxi Services Market in India 2019 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Online Taxi Services Market. Some of the key players profiled in the study are 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.
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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.
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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. 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.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Online Taxi Services market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Online Taxi Services near future?
What is the impact analysis of various factors in the Online Taxi Services market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Online Taxi Services Market
• Online Taxi Services Size (Sales Volume) Comparison by Type (2019-2025)
• Online Taxi Services Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Online Taxi Services Size (Value) Comparison by Region (2019-2025)
• Online Taxi Services Sales, Revenue and Growth Rate (2019-2025)
• Online Taxi Services Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Online Taxi Services
• Online Taxi Services Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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