Rising demand for radio taxi services in India can be attributed to changing lifestyles of travellers and increasing disposable income. Moreover, radio taxis offer hassle free travel experience to customers. Further, growing inclination of customers towards radio taxis can be attributed to various tangible and intangible offerings such as booking convenience through mobile applications, air conditioning, educated and skilled drivers and operators, multiple payment options, 24×7 customer support, electronic fare meters, GPS enabled vehicles, etc. Increasing investments by venture capitalists, and rising radio taxi usage by individuals, corporates and tourists is boosting demand for radio taxi services in India. As a result, the radio taxi companies have expanded their fleet size and this has driven dramatic growth in radio taxi service market of the country.
According to the Research report, “India Radio Taxi Services Market Forecast & Opportunities, 2021”, radio taxi services market in the country is forecast to grow at a CAGR of over 17% during 2016-2021, on account of rising promotional activities by radio taxi operators, and need for enhanced safety and security features. In 2015, aggregator business model dominated India radio taxi services market in the country and several unorganized radio taxi operators are anticipated to join aggregator business model offered by radio taxi service providers over the next five years. Additionally, growth in India radio taxi services market is being supported by leading OEMs such as Hyundai, Tata, Maruti Suzuki, etc. who offer car models specifically for radio taxi.
• India Radio Taxi Services Market Size, Share & Forecast
• Policy & Regulatory Landscape
• Changing Market Trends and Emerging Opportunities
• Competitive Landscape and Strategic Recommendations