Indhumathi D

The global pandemic did take a toll over the ride-hailing industry for the past few months. However, the sector has started regaining its prospects as commuters are gradually switching to the new normal.
Now is the time to start your ride-hailing business and if you can rightly address the market demands in sync with the new lifestyle, you can achieve business growth in a short span of time.

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.

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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.

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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.

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Social media influencers are those who make use of social media platforms to promote a product and engage their long reach of audience and followers. Using their online presence to promote businesses and its services to a larger market is called influencer marketing. This type of marketing is on the rise when compared to other traditional marketing strategies. Below are some of the reasons why social media influencers are essential to promote your ride-hailing taxi business.

Indhumathi D

Conferences are the life force of the ride-hailing industry however, very few show interest towards them.  Here is why you need to take time to attend ride-hailing conferences.
Know the industry better
Ride-hailing conferences are the most authentic channels through which you can get to know the updates in the industry. There are, of course, a lot of sources on the internet.