Mobile apps have been increasing in quantity, so there will be probably no sphere where a mobile app won’t exist. One such sphere where smartphone apps have become essential for users is taxi booking.
Over the past couple of years, many new taxi booking applications have come into existence, and Grab is one of them. Today, we will have a detailed review of the Grab Taxi Application.
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Grab taxi application is a renowned business model that leads Southeast Asia’s mobility platform. Launched in 2012 as GrabTaxi, the car-hailing, ride-sharing, and food-delivery service has become Southeast Asia’s popular Taxi business model.
It has offices in Singapore, Malaysia, Thailand, and the Philippines. In March 2018, Grab earned Uber’s Southeast Asian business, launching it as one of the region’s most popular cab-hailing apps.
With operations in South Asia, Grab offers various services, including food delivery. Available in 8 Southeast Asian countries, which include Myanmar, Philippines, Thailand, Malaysia, Singapore, Vietnam, Cambodia, and Indonesia.
There are a number of products available and provides users one-stop access to all the available products.
Grab provides the following products:
GrabRides is a ride-hailing service which allows users to book taxis and other types of vehicles on-demand
GrabMart offers grocery delivery services
GrabFood is a food delivery service that provides customers with restaurant-quality meals
GrabInsure offers insurance for travel and transportation
GrabPay’s digital wallet to make in-store purchases
GrabFinance’s ”buy now, pay later option for drivers and customers
Grab is an online aggregator business model with a simple operational structure but one that is highly sophisticated in terms of technology. Through the internet, this business connects individuals who provide transportation to those in need of a ride.
Customers can book a ride with the people offering ride services. Once the ride is completed, Grab takes a pre-decided cut from the fare. Grab takes a fragment of the fare and hands it over to the driver. Grab is a leading on-demand taxi company that not only provides cab services. Throughout these years, the company has expanded and advanced numerous revenue streams, such as hotel reservation services, grocery shopping, and restaurant ordering systems.
There is a wide range of business models being adopted by different on-demand apps, So you must choose the suitable business model according to your needs.
The GrabTaxi app has the standard structure, as any taxi booking service, which comprises:
| Essential Features of the App for passengers | Essential Features of the App for drivers |
|---|---|
| Registration/log in through email or social media | Registration/Login using email or social media accounts |
| Option for booking, to specify a pick-up and destination addresses, pick a taxi driver |
Driver profile |
| Tracking driver’s location in real-time | Live tracking and GPS map |
| See the ride price before booking | Booking alert |
| In-app payment | Accept/Reject booking |
| Push notifications | Navigate user’s location |
| Feedback and reviews on the service | Ride history. |
| Booking history | Cost estimation |
The admin web panel is the tool to administer and control all the application processes. Through this panel, we can analyze drivers’ performance along with the statistics of their incomes, information on the customers, and their complaints. In addition, it helps to add or delete drivers from the service. As well as suspend or terminate them for violating the rules and for negative feedback.
The generated revenue is directly proportional to the number of passengers it transports. As the passenger demand increases, the number of drivers signing up also increases resulting in more trips. In the case of Grab, it makes a certain amount as commissions on each successful ride.
In fact, Grab’s business model is based on commissions. Get to know these important Grab partners first if you want to understand how Grab’s on-demand business operates:
Grab allows drivers to join the platform to turn their riding service into a revenue stream. Besides, it lets employees set their own hours, and the platform provides a sizable number of rides.
Further, Grab also has driver safety rules and a code of conduct policy to protect the personal and professional interests of passengers, the company, and drivers. Grab’s profitable offers for drivers encourage them to complete more rides per month and to earn more where they can achieve more.
There are three major categories for drivers:
Customers are the heart of any business, and Grab is no exception. For drivers, the platform becomes successful only when the demand for cab rides increases. In short, Grab is dedicated to creating a secure and crystalline app that offers a first-rate user experience.
It uses contemporary technologies to locate the closest available ride and to bring the driver on board so that the passenger can be picked up in a few minutes after conducting their search.
Grab offers a safe and easy ride for passengers and drivers. With the vehicle’ emergency SOS buttons and live tracking, passengers feel out of harm’s way throughout the journey.
Grab acquires its Money from renowned and high-profile investors. In 2020, Japanese investors contributed around $856 million in funding. According to reports, Grab will combine with a US-based altimeter called Growth Capital. As a result, the company is expected to rise to $40 billion, which makes Grab eligible to list on the Nasdaq Stock Market.
In addition, Grab increases its revenue by collaborating with businesses on marketing and partnerships. On the other hand, it does not advertise discounts for customers and only makes a minimal profit from the ride fare.
A Taxi app does not have a fixed cost as it depends on many factors. To evaluate the cost of taxi booking app, it should be divided into compartments:
Speaking about the time cost:
Hourly rates of the specialists range from $20 to $150. The approximate total cost of an iOS app is roughly $30,000, and an Android app costs $35,000, for a combined total of $65,000 for both platforms.
Have you ever pondered the company’s fast ascent through Southeast Asia? Since Grab’s taxi application works on three key factors, It’s easy to know why it’s in great demand.
Grab is undoubtedly the most popular and successful company in Southeast Asia. It has more than 66 rides per second across seven countries. This small project turned business venture has become a well-known brand in the transportation market.
Here we have given a detailed review on Grab Taxi Application. Always choose the best taxi app software to build your own taxi app to boost your business.
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