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Why Transportation Apps are valued at more than $150 Billion today.?

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Transportation Apps Valued at More than $150 Billion According to a report by BIA/Kelsey, the on-demand economy in the US has grown from a transaction value of $22 billion in 2015 to $34 billion in 2016. This number reached a whopping $57 billion by the end of 2017.

While there are a number of on-demand services emerging in the US and global economies now (from food and grocery delivery to yoga and wedding photography), itโ€™s an indisputable fact that on-demand Transportation Apps Make an Inquiry about this news comprise the bulk of these services.

Uber is, of course, the global leader in the app based, on-demand transportation services and is one of the best transportation apps across the globe. Founded in 2009, Uber started as a luxury cab service.

Following a beta launch in May 2010, Uber's services officially launched in San Francisco in 2011.

It dominates the on-demand transportation industry with a valuation of $72 billion as of August 2018.

Despite Uberโ€™s global leadership, there are a number of other companies that have also emerged as strong players in this space across the world. Didi Chuxing in China, Lyft in the USA, Grab in Singapore, and Ola in India, all have similar on-demand app-based cab services like Uber and dominate different local markets across the world.

Although all of these services started out as cab services, they now have a number of on-demand transport services as part of their offerings. From motorbikes and buses to boats and rickshaws, many forms of transportation have been incorporated by these Transportation Apps.

On-demand transportation services have transformed how consumers use transport, leading to a fall in prices for users, enhanced income for drivers, and an overall increase in efficiency in the entire sector.

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Here are some of the benefits of a Mobile Transportation Apps for logistics companies:

Simplified User Interface

Apps are designed to make it easy and convenient for users to book a cab. Booking a cab can now be done through a few simple clicks.

From standing in the middle of the street to hail a cab to have a car come to your doorstep at just the right time, the change has been dramatic.

Reduced Cost of Cabs

Since on-demand technology uses location tracking to match the nearest cabs to customers, the number of rides gets optimized for the existing cabs. This means that the cost per ride for the customers goes down.

Costs are further reduced by features like ridesharing and carpooling, also based on location technology.

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Many people have moved to use cabs as their preferred mode of transport (from private cars and public transport) thanks to the advent of transportation apps.

Greater Income and Freedom for Drivers

On-demand transportation apps work on the concept of drivers as independent entrepreneurs. Due to innovation in technology, drivers are able to take on more rides in a day.

They can, therefore, earn more money and run a profitable business driving their cars.

Ripple Effect of These Transportation Apps

On-demand transportation apps have changed the face of not just the transport industry, but several other industries by introducing the same concept of the sharing economy (known as Uberization).

At the same time, apps like Uber have received their fair share of criticism for unfair practices like artificially low pricing, an excess payout to drivers, and a surge in pricing (increasing price for customers based on demand spikes). Most of these complications should get resolved over time as the industry matures.

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Want Your Own Uber App?

Seeing the success of Uber, many existing taxi companies have developed a similar app to increase the efficiency of their services. For example, Gett which operates as a cab service for Fortune 500 companies, has created its own on-demand app to optimize workflow.

If you have an existing cab service in a particular location or operational niche, then getting your own on-demand app will help you bring more efficiency to your operations, provide ease of use for your customers, and also help compete against the bigger app-based competitors.

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