Press Release

Taxi Market in India to Grow at 13% during 2017 – 2022

Increasing demand from individuals, corporates and tourists, and growing promotional activities by taxi operators to aid India taxi market through 2022

According to TechSci Research report, India Taxi Market By User Segment, By Payment Mode, By Vehicle Type, By Taxi Type, Competition Forecast & Opportunities, 2022”, the India taxi market is projected to grow at a CAGR of over 13%, in value terms, during 2017 –2022. Some of the major drivers responsible for propelling demand for taxis in India are growing preferences of the users to travel by cabs rather than their own vehicle due to traffic congestion coupled with easy availability of cabs at a reasonable cost.

Browse 18 Tables and 61 Figures spread through 140 Pages and an in-depth TOC on "India Taxi Market"

Changing consumer lifestyles, increasing disposable income and hassle-free travel experience to customers is expected to aid India taxi market. Moreover, an increasing number of customers are inclining towards radio taxis on account of various value-added offerings such as booking convenience through mobile applications, air conditioning, multiple payment options, 24X7 customer support, electronic fare meters and GPS enabled vehicles. Increasing investments by venture capitalists, and rising radio taxi usage by individuals, corporates and tourists is anticipated to further boost demand for taxi services in India during 2017 – 2022.

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“In India, taxi services, especially radio taxis, are emerging as an attractive business proposition, and consequently, an increasing number of investors have been expressing their interest in the country’s taxi services market over the last few years. During 2012 – 2016, venture capitalists, private equity firms and angel investors across the globe have made huge investments in the market in the anticipation of lucrative returns. Over the course of next five years as well, investments in taxi services market in India are expected to increase, which is expected to result in even more brighter days for the country’s taxi market until 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Taxi Market By User Segment, By Payment Mode, By Vehicle Type, By Taxi Type, Competition Forecast & Opportunities, 2022 has analyzed the potential of India taxi market, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India taxi market.

About TechSci Research

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