UAE Online Taxi Market to Be Dominated by Sedan Segment in the Forecasted Period
Addition of new market
players in the UAE Online Taxi Market and increasing fleet size of vehicles are
driving the UAE Online Taxi Market.
According to the TechSci Research report, "UAE Online Taxi Market- By Region, Competition
Forecast & Opportunities, 2018-2028," the UAE online taxi market is
anticipated to grow at a good rate in the coming years. On-demand services,
such online taxis, passenger cars, and charter cars, give customers real-time
feedback, vehicle tracking, and ratings for the quality of the services they receive.
The user may reliably identify automobiles by making an online taxi booking,
and with the use of an application, they can follow their journeys and the
location of the vehicle, guaranteeing safety for the occupants. This is
expected to considerably accelerate market expansion. Numerous mobile
applications that make it easy to compare prices with competitors and access a
large number of vehicles are other factors driving the market's expansion.
For instance, in August 2017,
Seattle-based on-demand ride service search engine Migo released a mobile
application that let users compare the locations and costs of nearby taxi,
car-sharing, and ride-hailing providers on a single platform. In addition,
on-demand transportation networks are efficiently coordinated and run thanks to
artificial intelligence (AI). In order to increase driver collaboration, it
informs passengers about traffic. The market now has a more promising picture
as a result. The expansion of the UAE online taxi service market is anticipated
to be driven by an increase in tourism activities, a rise in working-class
population, popularity of road trips,
and modernization in the auto industry in UAE.
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Growing disposable income has
a significant impact on the online taxi business because customers who have
more money to spend are more likely to use practical online taxi services. Due
to this trend, which has expanded travel and family trips as well as its
accessibility and affordability, the demand for online taxi services has grown
throughout the nation. In the UAE, clean energy mobility is a growing trend
that will likely last for some time. If electric vehicles are added to the
fleets of online taxi operators, they will not only become a preferred mode of
urban transportation but will significantly reduce operating costs over the
long and medium term.
The sales of
passenger cars in the year 2021 were around 1,56,780 units. In the year 2020
the Chairman of the Board of Executive Directors of the Roads and Transport
Authority (RTA) revealed that total number of electric/hybrid taxis account for
around 4683 vehicles. Out of 4683 taxis the number of hybrid taxis were 4510,
which is about 50% of the Dubai taxi fleet. The government of United Arab Emirates
has planned to reduce carbon emissions of the taxi and limousine sector by 2%
in compliance with the requirements of the Dubai Supreme Council of Energy in
the year 2021.
The country has had a rise in number of tourists,
except in 2020, making the travel and tourism industry one of the major drivers
of shared mobility. The main target market for the nation's online taxi
industry includes corporate clients and visiting executives, and this clientele
group typically favors sedans and SUV/MPVs for city transportation. These factors
are leading to an expansion of the online taxi sector in UAE. As a result of
the multiple lockdown and restriction measures implemented, the country's
online taxi industry basically stopped receiving large inflows of tourists and
business travelers during the height of the COVID-19 outbreak. But now that the
country is a safe alternative for travelers from around the world, the industry
will grow.
Some of the major players
operating in the UAE
Online Taxi Market include:
- Tawasul Transport L.L.C
- CARS TAXI
- Dubai Taxi Corporation
- KOI Ride
- Uber Technologies, Inc.
- WOW Electronic Transport
Services
- Yango GCC Electronic
Transport Services LLC
- Kohistan Rent A Car LLC
- XXRIDE Technologies Inc.
Limited
- KDDAD Taxi Service
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“Many online taxi service
providing companies in UAE are increasing their vehicle fleet and adding
premium vehicles to offer better experience to customers. Online taxi companies
are adding new vehicles and premium vehicles to increase their market share in
the UAE. Many investors are also investing in these online taxi companies, as
they see the potential and business opportunities in this sector, which will
further help in driving the UAE online taxi Market in the coming years. “said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“UAE Online Taxi Market By
User Segments (Individuals, Corporate, Tourist), By Payment Mode (Cash, Online
Payment, Mobile Wallets), By Vehicle Type (SUV/MPV, Hatchback, Sedan), By
Vehicle Class (Economic, Executive, Premium), By Vehicle Propulsion (IC Engine
Vehicle, Hybrid Vehicle, Electric Vehicle), By Region Competition Forecast & Competition,
Opportunities, 2018- 2028,” has evaluated
the future growth potential of UAE Online Taxi Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the UAE Online Taxi Market.
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