The new report by Expert Market Research titled, ‘Global Moto Taxi Service Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global moto taxi service market, assessing the market based on its segments like types, applications, and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 13.55 Billion
- Forecast CAGR (2023-2028): 7.94%
- Forecast Market Size (2028): USD 21.43 Billion
The moto taxi service market is being driven by the growing demand for efficient passenger transportation services. This can be associated with the rising global population and its subsequent transportation needs.
In addition, the increased demand for ride sharing facilities is anticipated to aid the market growth in the forecast period. Ride sharing services are not only cost-effective but are also environment friendly, which is anticipated to add to its popularity in the forecast period. Moreover, the growing investments by the leading market players in the development and expansions of moto taxi services is also predicted propel the market growth in the forecast period.
Industry Definition and Major Segments
Moto taxi service refers to bike-taxi services, which can be availed by individuals through the help of internet-based applications and websites. Under these services, the passenger sits as a pillion behind the rider and can avail long and short-distance services. In addition, these services also provide package delivery facilities.
The moto taxi service market, on the basis of type, can be segmented into:
- E-hailing
- Ride Sharing
Based on application, the industry can be segregated into:
- Passenger
- Load
The regional markets for moto taxi service include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The global automotive power liftgate industry is being driven by the rising issues of traffic congestion. This can be attributed to the rising number of vehicles on the road and lack of adequate infrastructure such as poor condition of roads and the inclining fuel prices.
The rapid urbanisation is further estimated to positively impact the market growth. Moreover, the increased adoption of moto taxi service can also be associated with the demand for last mile drop off services, which is unavailable in the case of public transportation. The factors are anticipated to augment the market growth in the coming years.
Key Market Players
The major players in the market are ANI Technologies Pvt. Ltd., GOJEK, Baxter, Grab, Bolt Technology OU, Uber Technologies Inc., and MotoTaxi Services, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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