MarketResearchNest.com adds “Global Cab Services Market Size, Status and Forecast 2019-2025”new report to its research database. The report spread across 93 pages with multiple tables and figures in it.
This comprehensive Cab Services Market research report includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyses the market size, industry share, growth, key segments, CAGR and key drivers.
A cab or taxi service is a type of vehicle for hire with a driver, used by a single or small group of passengers on either sharing or non-sharing basis. The passenger hires a taxi for a defined route, which is pre-decided by the customer passenger. The taxi cab conveys passengers between locations of their choice. The cab service differs from other modes of public transport, where the pick-up and drop-off service locations are determined by the service provider and not by the passenger.
According to the report, one of the major drivers for this market is Growing use of cashless transaction in e-hailing and integration with digital wallets. The cash-based payment system for cab riders has been replaced by in-app payment system, which uses digital wallets. A surge in the smartphone application user base has significantly changed the payment system of cab aggregators. Money is preloaded in digital wallets by cab riders, and the service charge is automatically deducted at the destination point without using a two-way authentication process. The latest trend gaining momentum in the market is Technological developments in taxi market. In April 2016, the world’s first self-driving taxi service was launched by Singapore-based nuTonomy, which is an autonomous vehicle software startup. The company started this service with a small fleet of 6 cars during 2016.
In Americas, US is the major revenue contributor to the market influenced by factors such as business, tourism, and leisure travel. Uber accounts for major market share of the US that provides on-demand for-hire car services through a smartphone app. Additionally, the growing adoption of online cab service companies further supports the growth of the cab booking service market in the region.
In 2018, the global Cab Services market size was — million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of — during 2019-2025.This report focuses on the global Cab Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cab Services development in United States, Europe and China.
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The key players covered in this study
- BMW Group
- Didi Chuxing
Market segment by Type, the product can be split into
- Car Rentals
- Radio Cabs
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
United States, Europe, China, Japan, Southeast Asia, India, Central and South America
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The study objectives of this report are:
- To analyze global Cab Services status, future forecast, growth opportunity, key market and key players.
- To present the Cab Services development in United States, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Cab Services are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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