Cab Service Market Report: Trends, Forecast and Competitive Analysis to 2030

Cab Service Trends and Forecast

The future of the global cab service market looks promising with opportunities in the business, entertainment, and advertising markets. The global cab service market is expected to reach an estimated $226.2 billion by 2030 with a CAGR of 5.6% from 2024 to 2030. The major drivers for this market are individuals increasingly opting for convenient and hassle-free travel options over car ownership, growing urban population, coupled with limited parking spaces, as well as, rising integration of mobile apps, GPS tracking, and real-time data analytics.

A more than 150-page report is developed to help in your business decisions.

Cab Service by Segment

The study includes a forecast for the global cab service by type, application, and region.

Cab Service Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• E-Hailing
• Car Rental
• Radio Cab

Cab Service Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Business
• Entertainment
• Advertising
• Others

Cab Service Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cab Service Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cab service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cab service companies profiled in this report include-

• BMW
• Didi Chuxing
• Daimler
• Lyft
• Uber
• BiTaksi
• Cabify
• Grab
• Gett
• GoCatch

Cab Service Market Insights

Lucintel forecasts that E-Hailing will remain the largest segment over the forecast period due to passengers can track their rides in real-time, providing peace of mind and confidence in arrival times.

APAC is expected to witness highest growth over the forecast period due to the region several megacities with booming populations, creating a massive demand for convenient and affordable transportation solutions.

Features of the Global Cab Service Market

Market Size Estimates: Cab service market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Cab service market size by type, application, and region in terms of value ($B).

Regional Analysis: Cab service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the cab service market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cab service market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the cab service market size?

Answer: The global cab service market is expected to reach an estimated $226.2 billion by 2030.

Q2. What is the growth forecast for cab service market?

Answer: The global cab service market is expected to grow with a CAGR of 5.6% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the cab service market?

Answer: The major drivers for this market are individuals increasingly opting for convenient and hassle-free travel options over car ownership, growing urban population, coupled with limited parking spaces, as well as, rising integration of mobile apps, GPS tracking, and real-time data analytics.

Q4. What are the major segments for cab service market?

Answer: The future of the global cab service market looks promising with opportunities in the business, entertainment, and advertising markets.

Q5. Who are the key cab service market companies?

Answer: Some of the key cab service companies are as follows.

• BMW
• Didi Chuxing
• Daimler
• Lyft
• Uber
• BiTaksi
• Cabify
• Grab
• Gett
• GoCatch

Q6. Which cab service market segment will be the largest in future?

Answer: Lucintel forecasts that E-Hailing will remain the largest segment over the forecast period due to passengers can track their rides in real-time, providing peace of mind and confidence in arrival times.

Q7. In cab service market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to the region several megacities with booming populations, creating a massive demand for convenient and affordable transportation solutions.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the cab service market by type (E-hailing, car rental, and radio cab), application (business, entertainment, advertising, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?