Moto Taxi Service Market Size, Share, Growth Analysis, By Provider (Motorbike Drivers, Ride-Hailing Companies,), By Type (On-Demand Services, Pre-Booked Services), By Vehicle Used (Motorbikes, Scooters, Electric Bikes), By Application (Commuting, Delivery), By Region - Industry Forecast 2024-2031

Global Moto Taxi Service Market size was valued at USD 13.55 billion in 2022 and is poised to grow from USD 14.63 billion in 2023 to USD 26.95 billion by 2031, growing at a CAGR of 7.9% during 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.