What is Cab Services Market?
Cab service is a vehicle for hire with drivers, intended to be used by single or group of people. Growing urbanization and changing lifestyle require transportation services on the go which lead to rise in cab services across the globe. Various stake holders are investing huge amount in cab services as business grows. Uber raised over 7 billion from its investors in 2018 with Japanese investment giant Softbank now has 15% share in it.
The market study is being classified and major geographies with country level break-up.
BMW Group [Germany], Didi Chuxing [China], Daimler [Germany], Lyft [United States], Uber [United States], BiTaksi [Turkey], Cabify [Spain], Grab [Singapore], Gett [Israel], GoCatch [Australia], Ingogo [Australia], LeCab [France] and Ola [India] are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Curb Taxi [United States], Careem [United Arab Emirates], Taxify [Estonia], GroundLink [United States], Cabify [Spain], GETMECAB [India] and Drivezy [India].
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Cab Services market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Cab Services market by Type, Application and Region.
On the basis of geography, the market of Cab Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Cashless Transactions owing to Integration with Digital Wallets
- Growing Social Media Use and Analytics
Market Trend
- Monopoly of Mobile Based App Services
- Live Tracking Facilities to Enhance Security Services
Restraints
- Threats from Local Transport Systems
- Low Penetration in Rural Areas
- High Cost off Services
Opportunities
- Technological Advancement in Cab Services
- Growing Disposable Income in Emerging Countries
Challenges
- Over Dependency on Internet
- Inability to Provide Quality of Services on Consistent Basis
Key Target Audience
Cab Service Providers Companies, Potential Investors, Government Agencies, Potential Investors and Others