Seattle, WA -- (SBWIRE) -- 09/23/2019 -- The global cab aggregators market includes various participants that connect customers to car driver with the help of different forms of communication technology. Rising use of smartphones and low cost internet connectivity worldwide are the major contributors to growth of this mobile application-based business model. The global car aggregators is one the most rapidly growing market.

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Proliferation of cab aggregators has significantly impacted unorganized transport service providers and the automotive industry

Consumers' inclination towards owning an automotive is primarily to gain access to transportation. Increasing consumer satisfaction through these service offerings has led to significant negative impacts on automotive sales and local taxi service providers. Owing to these impacts, automotive companies are forced to consider sales strategies in accordance to cab aggregators' presence. Chief automotive industry participants are focusing on collaborations to enhance their sales. For instance, in the recent past, in India, Ola has collaborated with Maruti, Hyundai, Nissan, and Tata to enable better loan facilities, repayment choices, and financial benefits for drivers who opt to purchase cars through its channels.

Cab Aggregators Market Taxonomy

On the basis of end use, the global cab aggregators market is classified into:
- Inter-city
- Intra-city
- On-airports
- Others

On the basis of customer types, the global cab aggregators market is classified into:
- Business
- Leisure

On the basis of booking type, the global cab aggregator market is classified into:
- App-based access(Mobile)
- Other online access
- Offline access

On the basis of business sector, the global cab aggregator market is classified into:
- Organized
- Unorganized

On the basis of vehicle types, the global cab aggregator market is classified into:
- Luxury Cars
- Executive Cars
- Economy Cars
- SUVs/MUVs

Increasing demand for robust transportation for business and leisure activities is expected to propel the market growth

Rapid urbanization across all major economies coupled with extensive economic development, typically in emerging economies such as China and India, and increased investments in the development of road infrastructure is expected to fuel growth of global cab aggregators market during the forecast period. Furthermore, emerging economies in Asia Pacific are expected to contribute to the market over the forecast period.
Inconsistencies in public transportation in emerging economies coupled with increasing requirements for daily commute are expected to pose excellent growth prospect during the forecast period. Key players in the market are continuously innovating offerings such as competitive service costs, provision of services at required time, and availability of luxury/premium cars at doorstep. Moreover, key players are focusing on making the user-experience better by providing low-cost traveling options in emerging economies is expected to propel growth of the market. However, emergence of significant issues such as impolite behavior of cab drivers and rise in prices has negatively impacted the business. For instance, Competition Commission of India (CCI) had reported a probe of the country's leading cab aggregator services, Uber and Ola over surge pricing, according to the Business Standard report in 2017.

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Asia Pacific is expected to witness highest growth rates over the forecast period

Market in countries such as China, Indonesia, India, and Malaysia is expected to witness significant growth over the forecast period. Consumers in these countries are inclined towards mobile solutions, which is still in its nascent stage. Moreover, companies are increasingly focusing on capitalizing opportunities through considerable investments and enhancing their offerings in these regions. For instance, in May 2017, Ola announced plans to invest US$ 2 billion in India to ply one million e-vehicles on the Ola platform by 2020. In May 2017, Uber announced plans to enhance its offerings by enabling offline booking options through SMS, WhatsApp and calls; and enhance consumer safety by providing car safety related information.

Global cab aggregators industry is consolidated with the presence of few major participants such as Uber, Lyft, Hailo, Ola, Grab Taxi, Didi Dache, Gett, LeCab, Cabify, and Bitaksi. Owing to low initial investments and large growth opportunity, large number of new entrants are expected to enter the market. New industry participants include Cabby, TenZillionCabs, HiCabs, DropTaxi and Baxi Taxi. These are expected to present considerable challenge to major players and create a competitive atmosphere in the market over the forecast period.

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