Global Cab Services Market Growth (Status and Outlook) 2023-2029

Global Cab Services Market Growth (Status and Outlook) 2023-2029

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.

LPI (LP Information)' newest research report, the “Cab Services Industry Forecast” looks at past sales and reviews total world Cab Services sales in 2022, providing a comprehensive analysis by region and market sector of projected Cab Services sales for 2023 through 2029. With Cab Services sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Cab Services industry.

This Insight Report provides a comprehensive analysis of the global Cab Services landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Cab Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Cab Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Cab Services and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Cab Services.

The global Cab Services market size is projected to grow from US$ 157900 million in 2022 to US$ 238660 million in 2029; it is expected to grow at a CAGR of 6.1% from 2023 to 2029.

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 The cash-based payment system for cab riders has been replaced by in-app payment system, which uses digital wallets.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.

This report presents a comprehensive overview, market shares, and growth opportunities of Cab Services market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
E-Hailing
Car Rentals
Radio Cabs

Segmentation by application
Business
Entertainment
Advertising
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BMW Group
Didi Chuxing
Daimler
Lyft
Uber
BiTaksi
Cabify
Grab
Gett
GoCatch
Ingogo
LeCab

Please note: The report will take approximately 2 business days to prepare and deliver.