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Check out our Uber SWOT Analysis of 2023 below! You will get to understand how Uber remains in the top position as a Taxi Booking App development company in the taxi industry. The interesting fact is that the uber marketing strategy and thereby their growth is despite the ever-increasing competition in the field.
Well, keep reading below for more information!
|Name: Uber Technologies Inc.|
|Founded: March 2009|
|Founders: Garett Camp, Travis Kalanick|
|Areas Served: 65 countries, 783 metropolitan areas|
|Revenue: US $14.14 billion (2022)|
|Number of Employees: 22000 worldwide (2019)|
|Subsidiaries: Uber Eats, Jump Bikes|
|Major Competitors: Lyft, Ola Cabs, Grab, Tesla.|
|Key People: Ronald Sugar (Chairman)
Dara Khosrowshahi (CEO)
Nelson Chai (CFO)
Thuan Pham (CTO)
Tony West (CLO)
Uber, the leading taxi app dispatch software, is headquartered in San Francisco, California, in the United States of America. It was founded in March 2009 by Garett Camp and Travis Kalanick. Their total estimated revenue is about 12 Billion US Dollars.
It operates in around 65 countries around the globe, and to be specific in 783 metropolitan cities. Uber is one of the first ones to introduce taxi services through an efficient taxi app. The present CEO of Uber is Dara Khosrowshahi.
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At present, Uber is undoubtedly the leading ridesharing provider in the world with coverage in more than 60 countries. Uber has created a brand identity in the taxi industry for itself. The revenue they generate every year is about 11.27 Billion US Dollars.
The amount Uber collects from riders is an absolute treat to watch. They have always taken care of providing the best and cheapest options to their customers. Moreover, it also provides some special offers for new and frequent customers.
The customer-driver interaction pattern followed by Uber is one that was imitated by all the after-Uber taxi service providers. Uber allows the customer to rate the drivers. This system allows the Admin to monitor the performance of the drivers and thus improve the efficiency of the whole system.
Staying up to date is very much important in the present world of competition. Hence, Uber has tried to stay up to date in accordance with time. Moreover, they have always proved the quality of adaptability as per the uber industry analysis.
There have been allegations that Uber emulated the working model of Lyft. But some states that it is the opposite. Uber was the first taxi app to be introduced in the commercial market. Lyft was in its initial stages during this time. Well, it’s a debatable topic. Another exciting part is that the much later introduced Ola has also followed the same pattern as that of Uber but achieved success within a short period.
Uber-like apps are entirely dependent on the Internet to run efficiently. It’s not a matter in the developed countries. But in cases of developing and underdeveloped countries, the latest facilities like internet technology is not yet widely accessible to everyone. Also, in these areas, people with enough technical knowledge to operate such service apps.
Uber had to face some backlash from the public for overpricing during Hurricane in the New York city limits. Finally, they revised their policies due to public outrage.
The common public is never interested in the age of old and unorganized methods followed by the traditional taxi system. The customers get unhappy. The review mechanism, followed by Uber, is perfect. They allow the customers to rate drivers based on their satisfaction with every single trip completed. It makes sure the entire taxi system is run without any significant issues.
The present world is becoming entirely dependent on advanced digital technologies for completing their day to day tasks. Uber to have followed this pattern by creating an interconnected-network that can be managed through smartphones. Uber also has begun to expand its services to new areas with Uber Eats and much more. They are planning to implement unique ideas based on uber strategy analysis. There are also certain countries in which Uber is still unavailable, like China, Denmark, etc. Uber can explore these countries with their excellent services.
Uber is on a mission to implement entirely driver free rides for its customers. The driverless technology has been run on a trial basis many times. It was found successful too. But there has been criticism from many parts of the world regarding this technology. So the project is on hold as of now. They even received huge funds from Toyota, Denso, and SoftBank. If this technology is found to be safe and reliable, then it will surely bring considerable profits to the company.
Logistics is another department where Uber can try investing as per the uber industry analysis. Uber strategy analysis reports they have already enough resources to enter this field.
Uber is indeed the leading Taxi service provider in many parts of the world. But still, they are facing stiff competition from peers like Ola, Lyft, etc. According to Uber strategy analysis, Uber will need to execute some new strategies if they plan to remain the leading taxi service provider.
The SWOT analysis report shows profit margin for the drivers is less as of now. This, in turn, will affect their services. The drivers may not provide the best services and thus it leads to dissatisfied customers. So they may switch to their competitors like Ola, or Lyft in search of better services.
There are millions of confidential information about the customers’ personal information in Uber’s database. It’s the prime responsibility of Uber to protect this valuable information from hackers. Uber was fined once for a data breach in the year 2016. The amount was about 3,85,000 Pounds. It was found that the data breach incident has affected more than 3 million users worldwide.
The SWOT Analysis of Uber indicates that Uber has still a long way to go. They can achieve greater heights through global expansion and by implementing innovative marketing strategies.
They will need proactive leadership and that can handle the challenges upcoming in the future!
The Major reason for Uber’s success is their Business Model. Here, take a look at the Uber Business Model to know more on uber business strategy and how it works to the advantage of Uber.