Louis

The COVID-19 pandemic has hit the transportation sector hard thereby bringing down opportunities for taxi and other ride-hailing businesses for the time being.
Drastic impact of COVID-19 on the market
The global market value of the ride-hailing industry which was previously projected to be 26,153m in 2020 is expected to witness a compound annual growth rate (CAGR) of -43.7% chiefly due to the COVID-19 outbreak and the social distancing measures that follow.

Louis

Despite the lockdown that followed the COVID-19 pandemic, ride-hailing companies are functioning to cater to the inevitable transit and delivery requirements of the community. Taxi drivers play a vital role here because it is they who go the extra mile to execute the jobs manifested. Given the scenario, you have to take every possible measure to help your drivers to keep away from infections while they are out there serving the community.

Louis

The COVID-19 outbreak has slowed down economic growth on a global scale as people remain locked down in their houses. The impact of the pandemic is even stronger for the ride-hailing sector than the other spheres, given the nature of the industry. It is time to find ways to generate more revenue in addition to making use of the existing opportunities and make a successful comeback once the target market is fully active again.

Louis

The ride-hailing industry has always been flexible enough to imbibe the changing market demands and has come up with alternatives to address the same. Here is a round-up of the ride-hailing trends 2019 as the year has drawn to an end.
Electric vehicles
With the increase in pollution rate, green living has gradually started gaining importance prompting commuters and transport service providers to opt for electric vehicles. In fact, 5.

Louis

Traditional currencies are gradually being replaced by their digital counterparts with the growth of the cashless economy. Given the massive scope for digital transactions, businesses now integrate multiple payment gateways to accept digital money and the taxi business is no exception.
Here are the top 6 ways you can benefit by integrating payment gateways in your taxi application.

Louis

The ride-hailing taxi industry has a much wider scope for growth especially with the increase in the need for easy access to daily transit. In fact, the global ride-hailing market valued $36,450.0 million in 2017 is projected to reach $126,521.2 million by 2025. With the growing market demand, taxi businesses can gain massive profits if they can formulate an effective business strategy and rightly execute the same.

Louis

Despite the increasing need for private transit, driver ride cancellation is considered as one of the major issues that hinder the growth of the ride-hailing segment. In fact, 36% of passengers in India claim driver cancellation to be the biggest drawback in booking on-demand taxis. Besides causing inconvenience for customers, it affects the overall business productivity for taxi owners which, in turn, cuts short the cash flow into their businesses.