Taxi Business Statistics 2019 - Growth and Market Share

Taxi Business is a world of unlimited opportunities. There are many success stories and enough taxi business statistics to defend the above statement.

Uber, one of the leading Taxi giants in the world, has proved their merit and mettle with the implementation of their taxi dispatch software. Uber app became a rage in the taxi industry, and many taxi businesses began to adopt Uber-like apps.

Some of the significant highlights of business run by Uber was it’s convenient as well as more economical for customers. Above all, it’s all digital!

Keep reading for a better insight into the Taxi Business statistics.

A Taxi Dispatch Software helps to arrange and oraganize a taxi business efficiently.

Certain Key Taxi Business Statistics

Taxi Business is widespread in almost all the major countries around the world.
It is estimated that 47 Million trips are completed every day.
Over 20 Billion trips have been completed worldwide until now.
The market share of Uber-like Taxi businesses in the ride-hailing market is estimated to be between 72- 75%.
Average Taxi driver income is estimated to be around 480 US Dollars.
Uber drivers number 3.9 million worldwide.
28 % of UberX drivers are female.
Lyft, another leading Taxi service provider, earned revenue of one Billion US Dollars in the year 2017 and 2.2 Billion US Dollars in 2018.
Lyft has around 1.4 million drivers under their kitty and has completed almost one Billion rides across the world by serving about 23 million passengers.
Asian Taxi giant Grab’ s total revenue was about $1 Billion in 2018.
Grab does have a driver employee base of 2.8 million and a customer base of 36 million.
China-based Taxi company, Didi Chuxing, has a value of 56 Million US Dollars.
Didi Chuxing also has around 21 Million drivers and ciomp-letes almost 30 million rides every day.

Public Transport Council (PTC) Survey

Key features surveyed include:

Waiting Time
Ease of Booking
Information
Ride Comfort
Driver’s Knowledge of Route
Service provided by the Driver
Safety
Taxi Stand Accessibility

The survey conducted by the Public Transport Council in the year 2018 had some interesting findings. The studies found out that most of the people were preferring the Taxi Service more than the other forms of transportation due to the convenience they provide. Well, the growth of different types of services has also improved a little bit, but the growth of Taxi Business was dominant.

Checkout, the Satisfaction Mean Scores graph, given below:

Source: Public Transport Council

The customers are happier when using the present Taxi system when compared to its peers. Also, the satisfaction means score has only improved from the year 2017 to 2018.

Also, the study by the PTC States that the taxi customers were pleased with the attributes like ease of booking, safety, driver’s knowledge of route and service information, and convenience.

The Commuter Satisfaction survey conducted by the same authority is given below:

Source: Public Transport Council

This customer satisfaction poll is based on the data collected from over 2000 users of multiple transportation modes.

Taxi Market Shares in India

Taxi Market Shares

Source: Statista

In India, the leading one in the taxi business is the one managed by the Tata group. Then follows the international giant Uber, Jugnoo, etc.

Comparisons between Uber, Lyf, Grab, and Didi Chuxing :

	Uber	Lyft	Grab	Didi Chuxing
Area of Operation	600 cities in 65 countries worldwide	300 US Cities, two Canadian cities	Southeast Asia	400 Chinese Cities, Brazil, Japan, Mexico, Australia, Hong Kong, Taiwan
Launched	March 2009	June 2012	June 2012	June 2012
Headquarters	San Francisco, United States of America	San Francisco, United States of America	Singapore	Beijing, China
Users	75 million	23 million	36 million	550 million
Drivers	3.9 million	1.4 million	2.6 million (all time)	21 million
Rides Per Day	14 million	1 million	4 million	30 million
Total Trips	10 Billion	One Billion	2.5 Billion	7.4 Billion in 2017
Revenue	$11.3 Billion	$2.2 Billion	$1 Billion (2018 estimate)	$25-27 Billion gross; net estimated at 16 % of the gross revenue
Valuation	$72 Billion (investment round, August 2018)	$15.1 Billion (investment round, June 2018)	$11 Billion	$56 Billion
	$82.2 Billion (IPO, May 2019)	$17.2 Billion (Market Cap May 2019)

The first step towards launching a Cab dispatch service is systematic and clear research on the market. Now that it is done, here are the other steps to be followed in order to start your own Taxi Business.

Final Thoughts

The Taxi World before Uber was a total mess. But now since the Uber Business model, all have become much easier and efficient. The Taxi business world has also benefited a lot after the introduction of Uber-like apps. The above-presented statistics is proof of all these.