The global Taxi Booking Software market size is projected to reach approximately USD 8 billion by 2030, at a CAGR of 5% from 2022 to 2030. Taxi booking software allows users to order a taxi without waiting for hours in the queue. It helps customers find their nearest taxi, which is often nearby and easier to identify. The software can also provide information about prices, past customer reviews, and more. The taxi booking software revolutionizes the taxi industry. It’s a new service, which is available in many cities around the world. It provides customers with convenience and drivers with more business. Many cities have regulations that require a taxi to accept credit cards, or at least have the capability to do so. This is typically done through a payment machine within the car.
COVID-19 Impact Analysis
The coronavirus negatively impacted the Taxi Booking Software Market. due to the spread of the virus, the various government implemented various strict restrictions and bans on various activities. There was a ban on traveling activities that have affected the taxi booking software market. there was reduced in the number of bookings for taxis as the government had put a complete travel ban. These have led the taxi software manufacturer to reduce the innovation of new software and upgradation of the existing software.
The taxi booking software market is growing in recent years due to the increasing number of taxi aggregators. These apps help passengers book a cab and pay for it. The app can be used on their smartphone or their computer, which makes them easy to use and convenient for everyone.
Ø Increasing adoption of smartphones
The major factor driving the Taxi booking software market is the Growing Adoption of Smartphones. The taxi booking software market has been experiencing exponential growth in the last few years. This is primarily attributed to the growing adoption of smartphones and the increasing demand for convenient travel and transport. With the advent of the internet and digital technologies, a new generation of software has been developed.
- Strict Rules and Regulations for Online Taxi Industry
The taxi booking software market is restrained by the strict rules and regulations given by the government. The government has imposed certain restrictions on the taxi booking software market to maintain public safety and security. The policy-makers believe that this would reduce the number of taxi drivers committing crimes against passengers, such as sexual assault, robbery, and kidnapping. The restriction on the taxi booking software market has proved to be a blessing for many companies. The competition has led to the development of more features and functions in these apps, making them easier to use.
- The growing popularity of online taxi service
The taxi booking software market has recently witnessed significant growth due to the growing popularity of online taxi services. Additionally, many small taxi companies have begun to develop their apps, which has created an opportunity for new entrants in the market.
Taxi booking software has seen significant growth in popularity over the past few years. This is due to the growing popularity of online taxi service providers such as Uber and Lyft, which have made it easier for taxi companies to compete with these popular ride-sharing apps. Many other taxi companies have begun to enter this market that offers their services at a lower price than Uber/Lyft. The taxi industry has been the primary source of income for drivers.
Based on software, the global Taxi Booking Software Market has been segmented based on Android and iOS. The android segment is the fastest growing in the global Taxi Booking Software Market.
Based on end-user, the global Taxi Booking Software Market has been segmented based on Driver and Passenger. The passenger segment holds a significant market share in the global Taxi Booking Software Market.
Global Taxi Booking Software Market Share, by Segmentation
By region, the global Taxi Booking Software Market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America holds the largest market for Taxi Booking Software Market.
North America Market
North America is anticipated to account for the major share of the global taxi booking software market during the forecast period, due to the rising adoption of advanced online booking technologies and increasing smartphone penetration, indicating potential demand. The region is expected to witness significant growth in the adoption of new technologies such as smartphones and apps, which are likely to boost the demand for taxi booking software. However, this has led to a surge in the number of applications that have emerged in recent years. As a result, there are high levels of competition among vendors looking to provide cloud services, and large vendors have been particularly important to the market.
The Asia Pacific is the fastest growing taxi booking software market. The rise of ridesharing apps such as Uber and Lyft has pushed taxi companies to innovate their business models. This has led them to develop new software platforms, which will ultimately benefit consumers and operators.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Fare Bookings, FATbit Technologies, Infinite Cab, Mindster, Negup Solutions, Tagmytaxi, TaxiCaller, TaxiMobility, TaxiPulse, Uber Technologies Inc., Yelowsoft lead the global Taxi Booking Software business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Fare Bookings
- FATbit Technologies
- Infinite Cab
- Negup Solutions
- Uber Technologies Inc
In October 2019, TaxiCaller announced that it has become the dispatch system provider for the United Nations in the Democratic Republic of the Congo.
Scope of the Report
Global Taxi Booking Software Market, by Software
Global Taxi Booking Software Market, by End-User
Global Taxi Booking Software Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2030: $ 8 Billion|
|CAGR||5% CAGR (2022-2030)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Software, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||Fare Bookings, FATbit Technologies, Infinite Cab, Mindster, Negup Solutions, Tagmytaxi, TaxiCaller, TaxiMobility, TaxiPulse, Uber Technologies Inc., Yelowsoft, Others|
|Key Market Opportunities||The growing popularity of online taxi service|
|Key Market Drivers||Increasing Adoption of Smartphones|
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Taxi Booking Software market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Taxi Booking Software market historical market size for year 2020, and forecast from 2021 to 2028
- Taxi Booking Software market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Taxi Booking Software market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Taxi Booking Software Market FAQs
- What is the study period of this market?
- The study period of the global Taxi Booking Software market is 2020 – 2030
- What is the growth rate of the global Taxi Booking Software market?
- The global Taxi Booking Software market is growing at a CAGR of ~ 5% over the next 7 years
- Which region has the highest growth rate in the global Taxi Booking Software market?
- Asia Pacific is expected to register the highest CAGR during 2022 – 2030
- Which region has the largest share in the global Taxi Booking Software market?
- North America holds the largest share in 2021
- Who are the key players in the global Taxi Booking Software market?
Fare Bookings, FATbit Technologies, Infinite Cab, Mindster, Negup Solutions, Tagmytaxi, TaxiCaller, TaxiMobility, TaxiPulse, Uber Technologies Inc., Yelowsoft are the major companies operating in the global Taxi Booking Software market.
- Do you offer Post Sale Support?
- Yes we offer 16 hours of analyst support to solve the queries
- Do you sell particular sections of a report?
- Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.