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Global Moto Taxi Service Market to Grow at a CAGR of 7.94% During 2022-2027, Aided by the Rising Issues of Traffic Congestion

According to a new report by EMR titled, ‘Global Moto Taxi Service Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 13.55 billion in 2021. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 7.94% between 2022 and 2027 to reach around USD 21.43 billion by 2027.

The global moto taxi service industry is being driven by the rising concerns of traffic congestion, caused by the rising number of private vehicles on the road. This is a pressing concern in densely populated areas, especially in countries like India. Additionally, the rising demand for quick and affordable transportation and package delivery services is also anticipated to propel the market growth in the forecast period. This can be associated with the easy navigability of bikes in crowded areas. Moreover, the increased availability of e-hailing services through smartphone apps is also predicted to add to industry growth in the forecast period.

The heightened capital expenditure by the leading market players to expand their consumer base across densely populated countries is predicted to aid the market growth. For instance, in December 2019, Uber Technologies Inc. (NYSE: UBER) announced the finalisation of the four-fold expansion of its operations in India from 52 cities to 200, wherein the key driver will be bike-taxi services. Such services are already in place within the country in states like Maharashtra and Karnataka. In addition, the company will also include three-wheelers as a part of this initiative. These developments are expected to positively impact the growth of the moto taxi service industry in the forecast period.

Market Breakup by Type, Application, and Region:

  • The market is divided based on type into e-hailing and ride sharing.
  • The industry is segmented, on the basis of application, into passenger and load.
  • Region-wise, the global market for moto taxi service can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for moto taxi service is being driven by the rising issues of traffic jams.
  • Rapid urbanisation and the rising demand for passenger transportation have significantly contributed to the market expansion.
  • The skyrocketing fuel prices are also aiding the industry growth, enhancing the demand for affordable transportation services.
  • Rapid digitalisation and the availability of moto taxi services via smartphone applications are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for moto taxi service for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, applications, and regions of moto taxi service.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global moto taxi service market are ANI Technologies Pvt. Ltd., GOJEK, Baxter, Grab, Bolt Technology OU, Uber Technologies Inc., MotoTaxi Services, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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