The "Taxi and Limousine Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global taxi and limousine services market as it emerges from the COVID-19 shut down.
The global taxi and limousine services market is expected to grow from $66.26 billion in 2020 to $78.92 billion in 2021 at a compound annual growth rate (CAGR) of 19.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $102.66 billion in 2025 at a CAGR of 7%.
Where is the largest and fastest growing market for the taxi and limousine services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Taxi and Limousine Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider taxi and limousine services market, and compares it with other markets.
The taxi and limousine services market consist of sales of taxi and limousine services and related goods by entities (organizations, sole traders and partnerships) that provide passenger transportation via automobiles or vans, or provide an array of specialty and luxury passenger transportation services via limousine or luxury sedan, generally on a reserved basis. Taxi and limousine services establishments usually provide services on demand. These establishments do not operate over regular routes and on regular schedules. The taxi and limousine services market is segmented into online taxi services; tele and offline taxi services and limousine services.
Western Europe was the largest region in the global taxi and limousine services market, accounting for 40% of the market in 2020. Asia Pacific was the second largest region accounting for 33% of the global taxi and limousine services market. Africa was the smallest region in the global taxi and limousine services market.
Taxi and limousine service providing companies are offering shared transportation services to cater to an increasing demand of customers. Shared transportation system is an innovative transportation strategy that enables users to gain short term access to transportation modes as needed. It includes various forms of transportation, such as car-sharing, bike sharing, carpooling and platform-based ride services. Shared transportation systems are growing in the transit and ground passenger transportation industry owing to cost benefits this system offers to customers. For example, Uber, an American on-demand cab transportation service provider with an international presence, is offering a shared ride service known as UberPOOL. Ride sharing companies such as BlaBlaCar and Drivezy also facilitate users to book a seat in vehicles according to their choice by a mere payment of a membership fee or fare.
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