Indhumathi D

Though the COVID-19 pandemic hit ride-hailing hard, the industry is now gradually booming again. In fact, it is predicted to attain a growth of up to 55.9% and the market revenue is expected to hit 120 million USD in 2021 from 76 million USD in 2020. Service providers are now coming up with new enhancements to ensure maximum safety for both passengers and drivers.

Indhumathi D

Businesses face ups and downs but what really matters is how entrepreneurs manage risks and stand their ground amid a crisis. The same applies to the ride-hailing industry. Leading service providers have always managed to overcome crises including the COVID-19 pandemic all by devising innovative strategies to handle the situation better and keep their businesses going even during these uncertain times. Ultimately, failure is just a phase and good times are not far behind.

Indhumathi D

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.

Indhumathi D

Over a few years, bike-taxis are gaining momentum by solving the last-mile connectivity problem of the commuters. After COVID-19, the global pandemic which has restricted people’s movement and their use of public transit, bike-taxis can be the best mobility option. Here is how bike-taxis can benefit transport-based businesses and their potential customers.

Indhumathi D

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.

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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.

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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.