India Radio/Online Taxi Services Market [2029] Size, Share & Trends

Summary

Report Description

India radio/online taxi service market will witness an impressive growth during the forecasted period, owing to the rise in fuel prices and growing traffic congestion in India.

Rising penetration of internet is fueling the demand of radio/online taxi service market In India. The accessibility of high-speed internet connectivity and the convenience related with using online services is shifting consumer preferences in the country and driving the India radio/online taxi service market. Moreover, in the coming years, it is expected to observe an increase in internet users from 637 million users in 2019 to 1.2 billion users, by the end of 2028. The growing number of smartphone and internet users in the country now have the access of taxi service at their fingertips and it has made simpler for users for getting the drivers' details and location, thereby fueling the demand for the India radio/online taxi services market.

Growing Demand for Convenience

Online taxi services provide a convenient alternative to traditional modes of transportation such as public transport, taxis, and personal vehicles. With ride-hailing apps, customers can easily book a ride, track their driver's location, and pay through the app, eliminating the need to carry cash or haggle over fares. Additionally, the availability of different types of rides, such as shared rides, standard rides, and premium rides, allows customers to choose the level of convenience they need, based on their budget and preferences.

Diversification of Services

As the online taxi market in India matures, ride-hailing companies are diversifying their services to cater to a wider range of customer needs. They are introducing new services such as food and grocery delivery, financial services, and healthcare services. For example, Ola has launched Ola Money, a digital wallet that allows customers to pay for rides, recharge their mobile phones, and pay bills. The diversification of services is expected to continue as ride-hailing companies look for new revenue streams and ways to differentiate themselves from competitors.

Adoption of New Technologies

The Indian radio/online taxi market is highly competitive, and ride-hailing companies are constantly looking for ways to differentiate themselves from their competitors. They are adopting new technologies such as artificial intelligence, machine learning, and big data analytics to improve the customer experience and optimize pricing. For example, they are using machine learning algorithms to predict demand and adjust pricing in real-time. They are also using big data analytics to gain insights into customer behavior and preferences. The adoption of new technologies is expected to continue as ride-hailing companies seek to stay ahead of the competition.

Rising Disposable Income

The rise in disposable income in India has led to an increase in demand for premium transportation services. Online taxi services have been able to tap into this demand by offering a range of services, including luxury cars and premium rides. Additionally, ride-hailing apps provide a cost-effective option for those who cannot afford to own a car or hire a personal driver. This has made online taxi services a popular choice for middle-class customers who are looking for affordable luxury transportation.

Increased Emphasis on Safety and Security

Safety and security have always been a top priority for ride-hailing companies in India, but recent incidents have led to an increased emphasis on these issues. Ride-hailing companies are introducing new safety features such as panic buttons, in-app safety alerts, and driver background checks to ensure the safety of their customers. For example, Uber has introduced a feature called "RideCheck," which uses GPS and other sensors to detect if a trip has gone off-course or if there is an unexpected stop. The increased emphasis on safety and security is expected to continue as ride-hailing companies focus on building trust with their customers and differentiating themselves from competitors.

Increasing Urbanization

India is one of the fastest urbanizing countries in the world, with a large number of people migrating to cities in search of better job opportunities and a higher standard of living. This has led to an increase in traffic congestion and a shortage of parking spaces in cities. Online taxi services provide an alternative to driving in congested city traffic and looking for parking, making them an attractive option for urban commuters. Additionally, the availability of shared rides has helped to reduce the number of cars on the road, leading to a reduction in traffic congestion and air pollution.

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Market Segmentation

The India radio/online taxi market is segmented based on vehicle type, propulsion, user segment, user type and competitive landscape. Based on vehicle type, the market is further fragmented into Sedan, Hatchback, SUV, Luxury. Based on propulsion, the market is bifurcated into ICE & Electric. Based on user segment, the market is fragmented into Individual and Tourist & Corporate. Based on user type, the market is bifurcated into ride sharing & ride hailing. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among north, south, west & east.

Company Profiles

Major market players operating in the market are Carzonrent India Private Limited, ANI Technologies Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Uber India Systems Private Limited. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new technological developments.

Attribute	Details
Base Year	2023
Historical Years	2019 – 2022
Estimated Year	2024
Forecast Period	2025 – 2029
Quantitative Units	Value in USD Million and CAGR for 2019-2023 and 2024E-2029F
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Vehicle Type Propulsion User Segment User Type
Regional Scope	North, South, East, West
Key Companies Profiled	Carzonrent India Private Limited, ANI Technologies Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Uber India Systems Private Limited
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, India Radio/Online Taxi Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· India Radio/online taxi Market, By Vehicle Type:

o Sedan

o Hatchback

o SUV

o Luxury

· India Radio/Online Taxi Market, By Propulsion:

o ICE

o Electric

· India Radio/online taxi Market, By User Segment:

o Individual

o Tourist

o Corporate

· India Radio/online taxi Market, By User Type:

o Ride Sharing

o Ride Hailing

· India Radio/online taxi Market, By Region:

o North

o West

o South

o East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Radio/Online Taxi Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer

4.1. Factors Influencing Purchase Decision

4.2. Brand Satisfaction Level

4.3. Brand Awareness

5. India Radio/Online Taxi Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Vehicle Type Market Share Analysis (Sedan, Hatchback, SUV, Luxury)

5.2.2. By Propulsion Market Share Analysis (ICE & Electric)

5.2.3. By User Segment Market Share Analysis (Individual, Tourist & Corporate)

5.2.4. By User Type Market Share Analysis (Ride Sharing & Ride Hailing)

5.2.5. By Regional Market Share Analysis

5.2.5.1. North Region Market Share Analysis

5.2.5.2. South Region Market Share Analysis

5.2.5.3. West Region Market Share Analysis

5.2.5.4. East Region Market Share Analysis

5.2.6. By Company Market Share Analysis (2023)

5.3. India Radio/Online Taxi Market Mapping & Opportunity Assessment

5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2. By Propulsion Type Mapping & Opportunity Assessment

5.3.3. By User Segment Mapping & Opportunity Assessment

5.3.4. By User Type Mapping & Opportunity Assessment

5.3.5. By Regional Market Mapping & Opportunity Assessment

6. North India Radio/Online Taxi Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis

6.2.2. By Propulsion Market Share Analysis

6.2.3. By User Segment Market Share Analysis

6.2.4. By User Type Market Share Analysis

7. South India Radio/Online Taxi Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Propulsion Market Share Analysis

7.2.3. By User Segment Market Share Analysis

7.2.4. By User Type Market Share Analysis

8. West India Radio/Online Taxi Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type Market Share Analysis

8.2.2. By Propulsion Market Share Analysis

8.2.3. By User Segment Market Share Analysis

8.2.4. By User Type Market Share Analysis

9. East India Radio/Online Taxi Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type Market Share Analysis

9.2.2. By Propulsion Market Share Analysis

9.2.3. By User Segment Market Share Analysis

9.2.4. By User Type Market Share Analysis

10. Market Dynamics

10.1. Market Drivers

10.2. Market Challenges

11. Impact of COVID-19 on India Radio/Online taxi Market

11.1. Key Segments Impacted

11.2. Key Regions Impacted

12. Market Trends & Developments

13. SWOT Analysis

13.1. Strength

13.2. Weakness

13.3. Opportunities

13.4. Threats

14. Porter’s Five Forces Model

14.1. Competitive Rivalry

14.2. Bargaining Power of Buyers

14.3. Bargaining Power of Suppliers

14.4. Threat of New Entrants

14.5. Threat of Substitutes

15. India Economic Profile

16. Policy & Regulatory Landscape

17. Competitive Landscape

17.1. Company Profiles (Up to Top 10 Companies)

17.1.1. Carzonrent India Private Limited

17.1.1.1. Company Details

17.1.1.2. Products & Services

17.1.1.3. Recent Development

17.1.1.4. Key Management Personnel

17.1.2. ANI Technologies Private Limited

17.1.2.1. Company Details

17.1.2.2. Products & Services

17.1.2.3. Recent Development

17.1.2.4. Key Management Personnel

17.1.3. Mega Cabs Private Limited

17.1.3.1. Company Details

17.1.3.2. Products & Services

17.1.3.3. Recent Development

17.1.3.4. Key Management Personnel

17.1.4. Meru Mobility Tech Private Limited

17.1.4.1. Company Details

17.1.4.2. Products & Services

17.1.4.3. Recent Development

17.1.4.4. Key Management Personnel

17.1.5. Savaari Car Rentals Private Limited

17.1.5.1. Company Details

17.1.5.2. Products & Services

17.1.5.3. Recent Development

17.1.5.4. Key Management Personnel

17.1.6. Uber India Systems Private Limited

17.1.6.1. Company Details

17.1.6.2. Products & Services

17.1.6.3. Recent Development

17.1.6.4. Key Management Personnel

18. Strategic Recommendations/Action Plan

18.1. Target Vehicle Type

18.2. Target Regions

18.3. Target Propulsion

19. About Us & Disclaimer

Note: The data given for any year represents the market during the fiscal year, i.e., 1st April to 31st March of that year. e.g., For 2023, the data represents the period, 1st April 2022 to 31st March 2023.

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

What are the market opportunities in the India radio/online taxi market?

Increasing internet penetration and rise in disposable income are some the factors creating opportunities in India radio/online taxi market.

What are the drivers in India radio/online taxi market?

Rising fuel prices and increasing traffic congestion day to day at a robust pace is correspondingly driving the growth of India radio/online taxi market.

Which region is expected to hold the highest share in the India radio/online taxi market?

North region has the dominating market share in India radio/online taxi market, owing to the massive fleet of taxi and the highest number of daily commuters in this region.

Which are the major companies holding the market share in the India radio/online taxi market?

Carzonrent India Private Limited, ANI Technologies Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Uber India Systems Private Limited are some of the major companies holding the market share in radio/online taxi market in India.

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Srishti Verma

Business Consultant

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Press Release

India Radio/Online Taxi Service Market to Grow During the Forecast Period

May, 2023

Rise in fuel prices and rising traffic congestion are factors driving the India radio/online taxi services market.

India Radio/Online Taxi Services Market, By Vehicle Type (Sedan, Hatchback, SUV, Luxury), By Propulsion (ICE & Electric), By User Segment (Individual, Tourist & Corporate), Competition, By User Type (Ride Sharing & Ride Hailing), By Region, Competition, Forecast & Opportunities, 2029F

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