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Moto Taxi Service Market Size, Share & Industry Analysis, By Type (Ride Sharing, E-hailing), By Application Type (Passenger, Load) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105099 | Status : Ongoing

 

KEY MARKET INSIGHTS

A moto taxi, also known as a motorcycle taxi or moto-cab, is a type of taxi that can carry a passenger as a pillion with the motorbike rider. Moto-taxi service software can assist the users to rent or hire taxis from their mobile applications. This software sends customer requests to the motorbike owner’s mobile device, and the price depends entirely on the distance travelled, the number and length of drivers available, as well as the demand for driving. Moto taxi services can be hired for short trips and long trips, and are mostly operated in densely populated locations, such as on the entrance & exits of railway stations, airports, outside retail shops, and other such crowded places. The moto taxi services has developed rapidly as they are the most renowned means of traveling in urban cities that are fast, efficient and affordable. In developing countries where the rate of population is increasing and the largest transportation option is served by buses and light rails, which are deficient and unable to serve the last mile, and have a presence of low-income people, therefore the demand for moto taxi services in these countries is increasing as they are easy to hire, and provide door to door connectivity. Additionally, the increase in the investment in moto-taxi service start-ups, increasing parking-related problems, road traffic as well as favourable government initiatives are few of the major factors that are expected to boost the market growth.


Key Market Driver -

Increasing demand for fast and affordable transportation service owed to increasing traffic congestion is expected to drive the growth of the market in the forecast period.

Key Market Restraint -

Limited space for luggage, low riding safety, and lack of seating comfort may hinder the growth of the market during the forecast period.


Market Segmentation:


Globally, the Moto Taxi Service market is segmented by type, by application type, and by geographic coverage. Based on type, the market is further segmented into e-hailing and ride sharing. The e-hailing segment accounts for the major share in the global market. E-hailing ride services hire private drivers through contracts or employment to provide transportation services for passengers. In e-hailing services, it is necessary to pre-book the ride facilities and pay for them through the smart phone application of the transportation network company. GOJEK, Wunder Mobility, Rapido, and Uber are few of the leading players in the e-hailing industry. The application type is further segmented into passenger and load. The passenger segment holds the major share in the global market owing to the wide usage of moto taxis for the transportation purposes. The moto-taxi services are gaining traction in several countries owing to the increasing road traffic congestions, insufficient public transport services such as busses and light rails, as well as door to door connectivity, affordable and easy hiring is boosting the demand for moto taxi services especially in emerging countries. Also, the lack of infrastructure, such as poor road conditions and increasing fuel prices has boosted the adoption of moto-taxi services across the globe.


Key Players:


Major players operating in the global Moto Taxi Service market include Uber Technologies Inc., Wunder Mobility, ANI Technologies Pvt. Ltd., Rapido, GOJEK, Pathao Ltd., Bolt Technology OU, SafeBoda, Grab, and MotoTaxi Services among others.


Key Insights



  • New Advancements in Moto Taxi Service

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the Moto Taxi Service market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the major share in the global market and is expected to propel further over the forecast period. This dominance is attributed to the rapid growth in the urbanization, high demographic growth, and continuously increasing road traffic which is driving the market growth in this region. Also, the increasing cost of vehicle ownership, and rise in the fuel prices especially in developing countries such as China and India are few of the primary reasons which are expected to help this region continue dominating the global market in the forecast period. Moreover, the lack of public transportation for daily accommodation coupled with the continuously increasing population is also fuelling the market growth. For example, in December 2018, the Indian government permitted taxi licenses for various types of vehicles including two-wheelers. North America is anticipated to hold the second largest share in the global market owing to the rising awareness among individuals regarding the increasing vehicular emissions, traffic problems as well as the rise in the gasoline and diesel prices. Increasing trend of rental bikes and bike sharing are proving to be cost effective for consumers thus creating great opportunities for the moto taxi service market in this region.


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Segmentation






















 ATTRIBUTES    


 DETAILS    

By Type




  • Ride Sharing

  • E-hailing



By Application Type




  • Passenger

  • Load



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



  • Ongoing
  • 2021
  • 2018-2020

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