Dublin, May 13, 2020 (GLOBE NEWSWIRE) -- The "Taxi and Limousine Services Global Market Opportunities and Strategies to 2030: COVID- 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

This report provides the strategists, marketers and senior management with the critical information they need to assess the global taxi and limousine services market.

The global taxi and limousine services market is expected to decline from $83.0 billion in 2019 to $46.7 billion in 2020 at a compound annual growth rate (CAGR) of -43.7%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6.5% from 2021 and reach $94.4 billion in 2023.

Reasons to Purchase

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  • Gain a global perspective on the development of the market.

Growth in the historic period resulted from technological development, strong economic growth in emerging markets, and growth in aging population, low oil prices, and surge pricing during peak hours. Factors that negatively affected growth in the historic period were safety concerns and public lawsuits, weak wage growth in developed economies, and the use of public transportation in urban areas. Going forward, economic growth, technology, emphasis on cutting carbon emissions, ease of transportation and changing consumer preferences towards car sharing will drive growth. Factors that could hinder the growth of the taxi and limousine services market in the future include improvement of public transportation, stringent regulations, inadequate chauffeurs, and coronavirus disease (COVID-19) outbreak.

The top opportunities in the taxi and limousine services market will arise in the online taxi services segment, which will gain $7.0 billion of global annual sales by 2023. The taxi and limousine services market size will gain the most in China at $2.53 billion. Market-trend-based strategies for the taxi and limousine services market include increasing bike-taxi services offerings, eco-friendly electric cab services offerings, implementing big data analytics tools in companies' operations, using social media platforms to improve their reach, and implementing new transportation technologies such as on-demand booking services and taxi soft meter. Player-adopted strategies in the taxi and limousine services market include reinforcing M&A strategies to expand businesses in other geographic areas, investing in expanding networks, operations and distribution networks, and streamlining business travel experiences through partnerships.

The outbreak of coronavirus has affected taxi and limousine services across several countries across the globe, mostly in countries where a lockdown has been declared to contain the disease. According to data by Aurora Mobile, a leading mobile big data solutions platform in China, the daily active users on the ride-sharing apps declined by more than half after the Chinese government declared the coronavirus outbreak in the country. In most of the states in the USA, shops, businesses and offices have shut, and this has resulted in less demand for taxi services. In India, the coronavirus outbreak has highly impacted the earnings of taxi drivers, because in lockdown the ride-hailing services are also restricted to operate. Spain is currently the second most-affected European country with COVID-19. The taxi sector has seen its business negatively impacted by the ongoing coronavirus public health crisis:

However, in order to provide emergency services, the taxi services companies are offering services for emergency transport to ease the burden of ambulance services. Many service providers have requested governments to issue directives on how they can help during this coronavirus outbreak so that they can do their part of duty during the need. Since there is a decline in normal rides, taxi services could be repurposed to help patients needing to attend medical appointments. For instance, NXT Taxis in Ireland requested the government to issue a directive to offer taxi services to ease the burden that is being placed on ambulances and emergency services during the coronavirus pandemic. Similarly, in India, Ola cabs agreed to provide 500 vehicles to the government for transporting doctors and for other COVID-19 related activities in Karnataka state. In Spain, taxi drivers are offering free services to health personnel who need to make house visits to assist patients infected with COVID-19.

Key Topics Covered:

1 Taxi And Limousine Services Market Executive Summary

2 Table Of Contents

3 List Of Figures

4 List Of Tables

5 Report Structure

6 Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type Of Service
6.1.3. Segmentation By Vehicle Type
6.1.4. Segmentation By Payment Mode
6.1.5. Segmentation By Ride Type

7 Taxi And Limousine Services Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Type Of Service
7.2.1. Online Taxi Services
7.2.2. Tele And Offline Taxi Services
7.2.3. Limousine Services
7.3. Segmentation By Vehicle Type
7.3.1. Cars
7.3.2. Motorcycles
7.3.3. Others
7.4. Segmentation By Payment Mode
7.4.1. Online
7.4.2. Cash
7.5. Segmentation By Ride Type
7.5.1. Individual
7.5.2. Car pool/Share

8 Taxi And Limousine Services Market Service Analysis - Service Example

9 Taxi And Limousine Services Market Supply Chain

10 Taxi And Limousine Services Market Customer Information
10.1. Indians Use App-Based Taxi Services For Their Convenience
10.2. Consumers Want Drivers To Be Penalized For Cancelling Of Rides
10.3. More Americans Are Using Ride-Hailing Apps
10.4. High Customer Satisfaction With Taxi Services Using Mobile Apps In Saudi Arabia
10.5. Factors Influencing Customer Satisfaction In Indian Taxi Services
10.6. Safety Is The Major Factor In The Ride-For-Hire Customer Experience
10.7. More Americans Opting Driving As A Profession

11 Taxi And Limousine Services Market Trends And Strategies
11.1. Increasing Bike-Taxi Services
11.2. Eco-Friendly Electric Cab Services
11.3. Taxicabs Are Of Different Colors In Various Countries
11.4. Increasing Shared Transportation Offerings
11.5. Big Data Analytics To Improve Real-Time Operations
11.6. Social Media For Strategic Customer Relationship Management
11.7. Increasing Kid-Friendly Ride Sharing Services
11.8. Advances In Technology

12 Technology And Digital Revolution Impact On Taxi and Limousine Services Market
12.1. Technologies That Disrupted Taxi And Limousine Services
12.1.1. App Based Taxi Services
12.1.2. Rise Of Green Taxis
12.1.3. Involvement Of Internet of Things (IoT) In Taxi Services

13 Impact Of Covid-19 On Taxi And Limousine Services
13.1. Impact Of Covid-19 In Most Affected Coronavirus Countries
13.1.1. USA
13.1.2. China
13.1.3. India
13.1.4. United Kingdom
13.1.5. Spain
13.1.6. Italy
13.2. Initiatives Taken By Taxi Services Company Amid Coronavirus Situation
13.2.1. Safety Measures
13.2.2. Offering Emergency Services

14 Policy & Regulatory Landscape For Taxi And Limousine Services
14.1. Regulations For Taxi And Limousine Services Are Based Mainly On Three Factors
14.1.1. Barriers To Entry
14.1.2. Price Controls
14.1.3. Mandated Business Practices
14.2. Regulations For Taxi And Limousine Services For Different Regions
14.2.1. North America
14.2.2. Asia Pacific
14.2.3. Western Europe
14.2.4. Eastern Europe
14.2.5. South America
14.2.6. Middle East
14.2.7. Africa

15 Benefits and Impacts of Advertising on Ride Hailing Taxis
15.1. Benefits Of Using Cabs For Advertisements
15.1.1. Easily Grabs The Audience's Attention
15.1.2. Cost Efficient Advertisement
15.1.3. Larger Audience Reach
15.1.4. Local Advertising
15.1.5. Generate A Positive Opinion
15.1.6. Long Lasting Advertisement
15.2. Impact Of Taxi Advertising On The Taxi and Limousine Services Market
15.2.1. Offer Cheap Rides
15.2.2. Offer New Schemes For Customers
15.2.3. Provide Driver Incentives
15.2.4. Offers Networking

16 Global Taxi And Limousine Services Market Size And Growth
16.1. Historic Market Growth, 2015 - 2019, Value ($ Billion)
16.1.1. Drivers Of The Market 2015 - 2019
16.1.2. Restraints On The Market 2015 - 2019
16.2. Forecast Market Growth, 2019 - 2023, 2025F, 2030F Value ($ Billion)
16.2.1. Drivers Of The Market 2019 - 2023
16.2.2. Restraints On The Market 2019 - 2023

17 Global Taxi And Limousine Services Market Segmentation
17.1. Global Taxi And Limousine Services Market, Segmentation By Type, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Billion)
17.1.1. Tele and offline taxi Services
17.1.2. Online taxi services
17.1.3. Limousine services
17.2. Global Taxi And Limousine Services Market, Segmentation By Vehicle, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Billion)
17.2.1. Cars
17.2.2. Motorcycles
17.2.3. Others
17.3. Global Taxi And Limousine Services Market, Segmentation By Payment Mode, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Billion)
17.3.1. Online payment
17.3.2. Cash payment
17.4. Global Taxi And Limousine Services Market, Segmentation By Ride Type, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Billion)
17.4.1. Individual ride
17.4.2. Carpool/Share ride

18 Taxi And Limousine Services Market, Regional Analysis
18.1. Global Taxi And Limousine Services Market, By Region, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Billion)
18.2. Global Taxi And Limousine Services Market, 2015 - 2023, Historic And Forecast, By Region
18.3. Global Taxi And Limousine Services Market, 2019-2023, Growth And Market Share Comparison, By Region

19 Global Taxi And Limousine Services Market Comparison with Macro Economic Factors
19.1. Taxi And Limousine Services Market Size, Percentage Of GDP, Global
19.2. Per Capita Average Taxi And Limousine Services Market Expenditure, Global

20 Asia-Pacific Taxi And Limousine Services Market

21 Western Europe Taxi And Limousine Services Market

22 Eastern Europe Taxi And Limousine Services Market

23 North America Taxi And Limousine Services Market

24 South America Taxi And Limousine Services Market

25 Middle East Taxi And Limousine Services Market

26 Africa Taxi And Limousine Services Market

27 Global Taxi And Limousine Services Market Competitive Landscape

28 Key Mergers And Acquisitions In The Taxi And Limousine Services Market

29 Market Background: Transit And Ground Passenger Transportation

30 Global Taxi And Limousine Services Market Opportunities And Strategies

31 Taxi And Limousine Services Market, Conclusions And Recommendations
31.1. Conclusions
31.2. Recommendations

32 Appendix

Companies Mentioned

  • Africa Ride
  • BA Taxi
  • Bolt
  • Careem
  • Chauffeur Priv
  • Didi Chuxing Technology Co.
  • Didi Dache
  • Domenico's Airport Transfers
  • Dubai Taxi Corporation
  • Gett, Inc.
  • Grab Holdings Inc.
  • Hailo
  • LeCab
  • Limo City
  • Littele Cabs
  • Lyft, Inc.
  • MyTaxi
  • Nihon Kotsu
  • Oga Taxi
  • Prague Taxis
  • Rome Chauffeur
  • Stefano's RomeCabs
  • Taxify
  • Uber Technologies, Inc.
  • YandexTaxi
  • Yellow Cab
  • Yookoo Rider

For more information about this report visit https://www.researchandmarkets.com/r/gbka6s

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