Corporate Cab Service Market Scope
Past few decades have observed heavy implementation of technology in almost every sector including cab rental. With the introduction of Cab rental apps that provide cost-effective features including GPS connectivity and automated fare estimation, the transportation industry has undergone a major transformation. Though urban trip demand is continuously increasing, supply (city street capacity) is constrained and must be optimized rather than expanded (most of the times not possible inside the city). Since traditional taxi hire systems struggle to deliver customer-centric services, smartphone applications profit as intelligent cab service providers. Cab apps are aware of user demands and the requirements to maximize cost effectiveness, highlighting the shortcomings of the traditional scheme. Factors such as increasing number of corporate business units across the globe particularly in emerging regions has facilitated the demand for corporate cab rental services.
The Corporate Cab Service market study is segmented and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Uber Technologies Inc. (United States), OLA (ANI Technologies Pvt. Ltd.) (India), BlaBlaCar (France), Bolt Technologies OU (Estonia), Curb Mobility LLC (United States), Xiaoju Technology Co. Ltd (China), Flywheel Software Inc. (United States), Gojek Tech (Indonesia), Grab Holdings Inc. (Singapore) and FREE NOW (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Kabbee Exchange Limited (United Kingdom), Lyft Inc. (United States) and Fox Rent A Car (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Corporate Cab Service market by Type, Application and Region.
On the basis of geography, the market of Corporate Cab Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 6th August, 2019 - Europcar Mobility Group Acquired Fox Rent A Car, this Acquisition is Intended to Accelerate Europcar’s Growth in the US Market. and On 1st September, 2019 - Mahindra and Mahindra Ltd (M&M) Announced its Agreement to Acquire 55% stake in Meru Cabs (India Based Emerging Rental Cab Service Provider), this Acquisition will Add Subsidiaries Including Meru Mobility Tech Pvt. Ltd, V Link Automotive Services Pvt. Ltd and V Link Fleet Solutions Pvt. Ltd to M&M’s Portfolio.
On 13th May, 2018 - Mumbai-based veteran logistics player Bharat Freight Group Launched its Cab Rental Service ”S3 Cabs”, this New Rental Service Provides Better Income Incentives to its Drivers while Serving the Corporate and Private Demand.
- Increasing Number of Corporate Units
- Innovation in Automobile Industry
- Growth in Tourism Industry
- Demand for Rental Services Due to Surging Fuel Prices
- Growing Penetration of Rental Services
- Low Penetration in Remote Regions
- Increasing Number of Startups in the Car Rental Business
- Longer Break-Even Period
Key Target AudienceCar Rental Service Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Corporate Cab Service Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.