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Global Taxi Market Size, Share, Growth, Trends, Analysis: By Service Type: Ride Hailing, Ride Sharing; By Booking Type: Online Booking, Offline Booking; By Vehicle Type: Cars, Motorcycle, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Taxi Market Outlook
The global taxi market size was valued at USD 252.8 billion in 2023. The market is further projected to grow at a CAGR of 11.10% between 2024 and 2032, reaching a value of USD 651.93 billion by 2032.
Key Takeaways
- In England in 2021, over three-quarters (77%) of licensed vehicles were Private Hire Vehicles (PHVs), with a total of 251,100 licensed vehicles, showing a 15.9% increase since 2020.
- Over 300 million people globally use taxi apps, with DiDi and Uber accounting for about 150 million users. DiDi led in revenue in 2022, earning approximately USD 19.7 billion, followed by Uber with USD 14 billion.
- As per industry reports, Uber drivers completed 9.44 billion trips in 2023, reflecting a significant increase compared to the previous year.
There is a significant trend towards ride-hailing services, such as Uber and Lyft, which have influenced the taxi market development. These platforms provide a more convenient, user-friendly experience through mobile apps, real-time tracking, and cashless payment options. Uber, for instance, operates in over 70 countries and offers a range of services, including UberX, Uber Black, and Uber Pool. Moreover, Uber generated USD 37.2 billion in revenue in 2023, marking a 16% increase from the previous year, where USD 19.6 billion came from ride-hailing and USD 12.1 billion from delivery services.
The taxi industry is witnessing a shift towards more environmentally friendly electric vehicles (EVs) in response to global efforts to reduce carbon emissions. For instance, in London, the city's iconic black cabs are being replaced by all-electric models like the LEVC TX, which can travel up to 80 miles on a single charge. This trend is driven by factors such as decreasing EV costs and government incentives, which have made electric vehicles more economically feasible for taxi operators.
As per taxi market analysis, the widespread penetration of the internet and smartphones has led to a significant increase in the preference for online taxi booking and e-hailing services. Consumers are drawn to the convenience of accessing information, tracking driver locations, and managing bookings through mobile apps. The Gojek app in Southeast Asia and the Didi Chuxing app in China have become popular platforms for on-demand taxi services.
The market is seeing a diversification of vehicle types, including not only traditional passenger cars but also motorcycles, scooters, minivans, and even human-powered vehicles like rickshaws. For instance, in India, three-wheeled auto-rickshaws are a common mode of taxi transportation, while in Southeast Asia, motorcycle taxis (known as "ojek") are widely used. This trend reflects the adaptability of the taxi industry to local market conditions.
Market Segmentation
Global Taxi Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Service Type
- Ride Hailing
- Ride Sharing
Market Breakup by Booking Type
- Online Booking
- Offline Booking
Market Breakup by Vehicle Type
- Cars
- Motorcycle
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
Market players are investing in research and development to introduce new features and functionalities in their taxi solutions.
- Uber Technologies Inc.
- ANI Technologies Private Limited
- Bolt Technology OÜ
- Curb Mobility, LLC
- Dubai Taxi Company
- Flywheel Software, Inc.
- Free Now
- Lyft, Inc.
- Nihon Kotsu Co., Ltd.
- Roppen Transportation Services Private Limited
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
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| Breakup by Booking Type |
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| Breakup by Vehicle Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Taxi Market Analysis
8.1 Key Industry Highlights
8.2 Global Taxi Historical Market (2018-2023)
8.3 Global Taxi Market Forecast (2024-2032)
8.4 Global Taxi Market by Service Type
8.4.1 Ride Hailing
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Ride Sharing
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Taxi Market by Booking Type
8.5.1 Online Booking
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Offline Booking
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Taxi Market by Vehicle Type
8.6.1 Cars
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Motorcycle
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Taxi Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Taxi Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Taxi Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Taxi Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Taxi Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Taxi Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Uber Technologies Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 ANI Technologies Private Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Bolt Technology OÜ
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Curb Mobility, LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dubai Taxi Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Flywheel Software, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Free Now
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Lyft, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Nihon Kotsu Co.,Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Roppen Transportation Services Private Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Taxi Market: Key Industry Highlights, 2018 and 2032
2. Global Taxi Historical Market: Breakup by Service Type (USD Billion), 2018-2023
3. Global Taxi Market Forecast: Breakup by Service Type (USD Billion), 2024-2032
4. Global Taxi Historical Market: Breakup by Booking Type (USD Billion), 2018-2023
5. Global Taxi Market Forecast: Breakup by Booking Type (USD Billion), 2024-2032
6. Global Taxi Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7. Global Taxi Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8. Global Taxi Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Taxi Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Taxi Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Taxi Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Taxi Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Taxi Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Taxi Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Taxi Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Taxi Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Taxi Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Taxi Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Taxi Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Taxi Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 252.8 billion.
The market is expected to grow at a CAGR of 11.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 651.93 billion by 2032.
The market is being driven due to the greater demand for efficient transportation options due to increasing urbanisation, rising disposable incomes, and growth of the tourism industry.
Key trends aiding the market expansion include the technological advancements, such as ride-hailing apps and digital payment systems, adoption of electric and hybrid taxis, and expansion of taxi services into package delivery.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Based on service type, the market segmentations include ride hailing, ride sharing.
Cars, motorcycle, and others are considered in the report.
Key players in the market are Uber Technologies Inc., ANI Technologies Private Limited, Bolt Technology OÜ, Curb Mobility, LLC, Dubai Taxi Company, Flywheel Software, Inc., Free Now, Lyft, Inc., Nihon Kotsu Co., Ltd., and Roppen Transportation Services Private Limited, among others.
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