USD 13.55 billion
Moto Taxi Service Market Size, Share, Growth Analysis, By Application(Passenger, Load), By Type(E-hailing, Ride Sharing), By Region - Industry Forecast 2024-2031
Report ID:
SQSG20X2002 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
61
|Figures:
70
Moto Taxi Service Market Insights
Moto Taxi Service Market size was valued at USD 13.55 billion in 2019, and it is expected to reach a value of USD 21.43 billion by 2031, at a CAGR of 7.94% over the forecast period (2024-2031).
A moto taxi, sometimes referred to as a motorcycle taxi or moto-cab, is a kind of taxi that allows the motorbike rider to carry a passenger as a pillion. Users of the moto-taxi service software can rent or hire taxis through their mobile applications. This programme delivers client requests to the mobile device of the motorcycle owner, and the cost is solely determined by the distance travelled, the number and availability of drivers, and the demand for driving. Moto taxi services are available for both short and long distances, and they are typically offered in heavily frequented areas like the entrances and exits of train stations, airports, outside of shops, and other similarly busy areas.
The demand for moto taxi services has grown quickly because they are the most well-known, quick, economical, and efficient form of transportation in urban areas. Because moto taxi services are convenient to use and offer door-to-door connectivity, they are in high demand in developing countries where the population is growing and the main transportation options are buses and light rails, which are inadequate and unable to cover the last mile and have a high presence of low-income people. In addition, rising parking-related issues, increased traffic, favourable government initiatives, and increased investment in moto-taxi service start-ups are some of the key factors anticipated to spur market expansion.
US Moto Taxi Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger
Fastest Growth
Passenger
Growth Rate
7.94% CAGR
Global Moto Taxi Service Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Moto Taxi Service Market Segmental Analysis
The global moto taxi service market has been segmented based on application, type, and region. Based on application, the moto taxi service market is segmented into passenger and load. Based on the type, the moto taxi service market is segmented into e-hailing and ride sharing. Based on region, the moto taxi service market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Moto Taxi Service Market Analysis by Application
The passenger segment commands the lion's share of the global motor taxi service market, due to the widespread use of moto taxis for transportation. The demand for moto taxi services, particularly in emerging nations, is growing as a result of growing road traffic congestion, a lack of door-to-door connection, inadequate public transportation options like buses and light railways, and economical and simple hiring. Additionally, the lack of infrastructure, including bad road conditions and rising fuel prices, has accelerated the global popularity of moto-taxi services.
Global Moto Taxi Service Market By Application, 2021 (%)
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Moto Taxi Service Market Regional Insights
Asia Pacific held the large portion of the Global Moto Taxi Service market share and is anticipated to grow over the coming years. This dominance is due to the region's market growth being driven by the rapid urbanization, significant demographic growth, and steadily rising road traffic. Additionally, rising fuel prices, particularly in developing nations like China and India, and rising vehicle ownership costs are a few of the main factors that are anticipated to support this region's continued dominance of the global market during the forecast period. Additionally, the lack of public transit for daily lodging combined with the steadily growing population is boosting the market. For instance, the Indian government approved taxi licences for a variety of vehicles, including two wheelers, in December 2018. Due to the growing public awareness of rising vehicle emissions, traffic congestion, and the cost of gasoline and diesel, North America is predicted to represent the second-largest proportion of the global market. The market for moto taxi services in this area is experiencing strong growth thanks to the rising trend of renting motorcycles and participating in bike sharing programmes, which are proving to be cost-effective for consumers.
Global Moto Taxi Service Market By Geography, 2022-2028
- Largest
- Fastest
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Moto Taxi Service Market Dynamics
Moto Taxi Service Market Driver
- The demand for moto taxi services is expected to be driven by the escalating worries about traffic congestion. In major cities around the world, the number of private vehicles is increasing, which is causing more traffic congestion. In this way, moto taxi services assist customers in saving time by efficiently avoiding congested locations. Additionally, moto taxi services provide reasonable and comfortable services that customers from all different financial backgrounds can use. In contrast to the majority of public transit systems, moto taxis also offer last-mile services. Furthermore, it is anticipated that in the upcoming years, demand for bike taxi services would increase due to growing fuel prices and hefty costs connected with automobile ownership.
- The increase in finance from various businesses is probably going to help moto tab service entrepreneurs run more efficiently and broaden their geographic reach. Over time, this will support the market expansion during the projection period.
Moto Taxi Service Market Restraint
- The moto taxi service market is flourishing in some regions of the world, moto taxis are outlawed and viewed as illegal in other nations. As a result, during the forecast period, the restriction on moto taxis will have a negative impact on service providers' profitability.
- During the projection period, inadequate luggage room, low riding safety, and uncomfortable seats could restrain market growth.
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Moto Taxi Service Market Competitive Landscape
The market seems to be moderately fragmented and to have a number of vendors. By market's competitive landscape and information on the products offered by businesses, companies are identifying new growth possibilities and designing distinctive growth strategies to obtain major market share.
Top Players in the Global Motor Taxi Service Market
- Uber Technologies Inc. (US)
- Wunder Mobility (Germany)
- ANI Technologies Pvt. Ltd. (India )
- Rapido (India)
- GOJEK (Indonesia)
- Pathao Ltd. (Bangladesh)
- Bolt Technology OU (Tallinn,)
- SafeBoda (Uganda)
- Grab (Malaysia)
- MotoTaxi Services (India)
- Baxi (UK)
- Bikxie (India)
- Dunzo(India)
- Jugnoo(India)
- Mopedo (India)
Moto Taxi Service Market Recent Development
- In December 2020, Estonian ride-hailing firm Bolt raised EUR 150 million (USD 182 million) in a funding round led by D1 Capital Partners. The company said it will use the money to develop driver face verification and use machine learning to prevent potential incidents. The firm’s app now counts more than 50 million users in over 40 countries across Europe and Africa.
- In November 2020, Meru cabs announced that they are planning to raise USD 54.25 million (INR 400 Crore) from private equity funds. The fundraising plan comes at a time when the company is sharpening focus on providing cabs to corporates and expanding its base of electric vehicles in India.
Moto Taxi Service Key Market Trends
- Increasing problems with traffic congestion are what are driving the global car power liftgate sector. This can be linked to an increase in the number of vehicles on the road as well as a lack of suitable infrastructure, including bad roads and rising fuel costs. It is further predicted that the increased urbanization will have a favorable effect on the market expansion. Additionally, the demand for last-mile drop-off services, which are unavailable with public transit, is also likely related to the rising use of moto-taxi services. In the upcoming years, the elements are projected to accelerate market growth.
Moto Taxi Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Moto Taxi Service Market analysis, by application, the passenger segment dominated the global market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global moto taxi service market owing to the region's market growth being driven by the rapid urbanisation, significant demographic growth, and steadily rising road traffic.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 13.55 billion |
| Market size value in 2031 | USD 21.43 billion |
| Growth Rate | 7.94% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Moto Taxi Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Moto Taxi Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Moto Taxi Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Moto Taxi Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Moto Taxi Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Moto Taxi Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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