Taxi market in Singapore and Malaysia has been dominated by the world’s leading ride-hailing service providers. Being the hubs of attractions, Singapore and Malaysia fascinate tourists with its alluring beauty. In Singapore, rationalization of the competitive landscape has stabilized revenue from the ride-hailing business. Visitors prefer to rent taxis or luxury limousines to travel from Singapore to Malaysia as it is the easiest and fastest way to cross the border without worrying about the immigration checking. Specially licensed taxi cabs can provide more convenience by commuting people anywhere. Prevailing business opportunities attract taxi drivers to take up ride-hailing option to get even more; however, both countries have set regulations to standardize their transportation service. They have to abide by it.
Taxi is obviously a revenue-generating business in Singapore as well as Malaysia. After the disruption of the ride-hailing business model, small-scale taxi business owners and even the taxi drivers prefer to embrace the new way of getting ride requests and dispatching vehicles with the support of technology, which is nothing but the on-demand taxi booking and dispatching software. As the market has already been covered by the industry giants, it would be difficult for the entrants to get an expected level of success in the ride-hailing business. However, they can also sustain in the market if they can find a taxi dispatching solution.
On-demand Taxi Management Software
When there is a demand, acquiring the business opportunities in all possible ways would be the smarter solution to earn more. When it comes to taxi service, the aggregators have to consider the taxi management software. The ride-hailing software (maybe with a unique set of features) is the only option for the taxi businesses to get more sales (rides) in the technology-driven world. Whether it may be a basic taxi or a luxury limousine service, passengers are expecting a different level of convenience. Especially in posh countries like Singapore and Malaysia, there will be visitors from different sects. Their expectation would vary tremendously. That’s why the Singapore and Malaysian governments have set some sort of regulations for taxi drivers who drive for ride-hailing companies.
Taxi Regulations in Singapore and Malaysia
In order to prevent a monopoly or duopoly, the government of Singapore has reviewed taxi and ride-hailing regulations that include licensing process of ride-hailing operators and taxi drivers, and revamping of the industry structure. Licensing part will give the government a wider range of regulatory levers to make sure that the growing ride-hailing business meets the demand of the passengers, drivers, and regulatory bodies. In addition, the government wants to bring a structure to the ever-evolving taxi business and streamline all related proceedings.
Meanwhile, in Malaysia, the government has tightened the regulations insisting the ride-hailing service providers to get public service vehicle license and ensure the hired taxi drivers do not have criminal records. Likewise, the vehicles older than 3 years have to be inspected every year. As Malaysia has recently legalized ride-hailing services, Singapore-based taxi companies can also expand their geographical boundaries.
Singapore and Malaysia are the two countries that attract more visitors every day. So, there will be a greater need for ride-hailing service. In a bid to provide a quality transportation to their guests and daily commuters, the regimes have imbibed greater regulations. If the taxi service providers want to get more out of their ride-hailing service, they can attain it simply by adhering to a supportive taxi booking and dispatching app and by sticking to the regulations set in the respective or both countries.