Consumer & Luxury Goods Market Research News

Report explores the cab services market to grow at 8.46% CAGR to 2021

Report explores the cab services market to grow at 8.46% CAGR to 2021

The latest trend gaining momentum in the Cab Services market is Technological developments in taxi market.

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New Research on Cab Services Market :

Cab Services Market report considers the revenue generated by different cab operators from passenger customers that hire various cab services for different routes. These cab services include e-hailing, car rental, radio cabs, and offline unorganized cabs.

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The analysts forecast global cab services market to grow at a CAGR of 8.46% during the period 2017-2021.

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A cab or taxi service is a type of vehicle for hire with a driver, used by a single or small group of passengers on either sharing or non-sharing basis. The passenger hires a taxi for a defined route, which is pre-decided by the customer passenger.

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This report, Global Cab Services Market 2017-2021 , has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

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According to the cab services market report, one of the major drivers for this market is Growing use of cashless transaction in e-hailing and integration with digital wallets. The cash-based payment system for cab riders has been replaced by in-app payment system, which uses digital wallets.

A surge in the smartphone application user base has significantly changed the payment system of cab aggregators. Money is preloaded in digital wallets by cab riders, and the service charge is automatically deducted at the destination point without using a two-way authentication process.

Cab Services Market driver

  • Growing use of cashless transaction in e-hailing and integration with digital wallets
  • For a full, detailed list, view our report

Cab Services Market challenge

  • Threat from regional cab service providers
  • For a full, detailed list, view our report

Market trend

  • Technological developments in taxi market
  • For a full, detailed list, view our report

Key questions answered in this report

  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?

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