United States Radio/Online Taxi Market By Vehicle Type (Sedan, Hatchback, SUV, Luxury), By Propulsion (ICE & Electric), By User Segment (Individual, Tourist & Corporate), By Service Type (Ride Sharing & Ride Hailing), By Region, Competition Forecast and Opportunities, 2028F
Published Date: May - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited States Radio/Online Taxi Market size
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The United States Radio/Online Taxi market in the United States is experiencing significant growth. It's projected to reach $48.72 billion in 2025, up from $43.72 billion in 2024, with a CAGR of 11.4%. This growth is driven by factors like ride-sharing convenience, urbanization, and the increasing adoption of mobile apps.
United States Radio/Online Taxi markets is increasing due to its comprehensive vehicle fleet and technology advancement. The market has been experiencing substantial growth in recent years, driven by ride hailing and ride sharing services and expansion of the taxi market.
United States Radio/Online Taxi Market Overview
The US taxi industry has experienced dramatic change over the past few years, led mainly by the rise of ride-hailing companies like Uber and Lyft. These companies have shaken up the conventional taxi business by providing customers with an easy and convenient means of ordering rides using smartphone applications. This change in consumer behavior has led to more competition and difficulties for conventional taxi firms. Ride-hailing services have become popular because they are cheap, easy to use, and offer real-time tracking. Passengers are able to hail rides, monitor the driver's location, and pay in cashless transactions, all through their smartphones. It is this convenience that has caused a remarkable market share transfer from legacy taxis to ride-hailing services. The regulatory landscape has also been instrumental in determining the United States taxi market. Established taxi firms have traditionally been heavily regulated with the requirements of a license and rules on fares which differ from city to city and jurisdiction to jurisdiction. Ride-hailing services have also been tested by regulators who are trying to balance the safety of passengers, fair competition, and innovation.
United States Radio/Online Taxi Market Drivers
Uber and Lyft are two instances of how ride-hailing companies have transformed the transportation industry. With smartphone apps, these companies allow consumers to order rides and match with drivers in their vicinity. Drivers for ride-hailing companies are independent contractors who use their own vehicles to provide rides. They are able to choose when and where they work, which provides them with more control over their schedules. Lots of drivers prefer using this model as they love its flexibility and ability to either work part-time or full-time while earning an income. The coming into play of ride-hailing companies significantly boosted the traveler's experience. Passengers are currently able to send in their request, monitor drivers' location real-time, and receive forecast arrival times via cell applications throughout. Passengers are able to provide comments and ratings on the app-based platforms, which helps to maintain service quality and accountability. All things considered, ride-hailing services have brought a level of convenience and transparency that traditional taxi services have had to adjust to in order to remain competitive. The rivalry in the taxi business has increased as a result of the advent of ride-hailing services. With the simplicity and often lower costs of ride-hailing, most of the customers have abandoned traditional taxi services, and it has been challenging for traditional taxi companies to retain their market share. Traditional taxi companies have had to explore how they can change their business models because of this development. In order to provide their services via the same avenues, some taxi firms have developed their own smartphone applications or teamed up with ride-hailing companies. The integration of ride-hailing platforms and traditional taxi operators has created the marketplace situation more complex and competitive. different levels of government have different regulations that govern the taxi industry. Regulations may cover such aspects as the requirement for business and driver licenses, insurance, driver background checks, minimum vehicle requirements, and pricing regulations. Traditional taxi companies tend to be under stricter regulations compared to ride-hailing services. Ride-hailing services have increased popularity, and this has triggered discussions and debates regarding the appropriate level of regulation to ensure consumer protection, competitive fairness, and passenger safety.
United States Radio/Online Taxi Market Trends
Consumer options in the taxi industry have flipped with riders giving more importance to ease of affordability, convenience, and hassle-free user experience. Ride hailing services have leveraged these options by providing easy and fast booking real time monitoring also with features to rate drivers. Passengers increasingly also appreciate the clear pricing, smooth cashless payments provided by the ride hailing services. Conventional taxi organizations have been forced to evolve by integrating similar technologies and improving their customer support to address these frequent shifting needs. Technology has emerged as an essential part of the taxi industry. For both ride hailing support and conventional taxi organizations have understood developments like GPS navigation systems, mobile applications, and data analysis. Moreover, mobile applications have transformed the process of booking, providing passengers with the opportunity to order rides by a few touches on their smartphones/tablets. GPS navigation systems help drivers to correct routes and reduce travel time. Driver ratings and feedback systems radiate responsibility and maintain service quality. Data analytics enable companies to analyze customer preferences, optimize prices, improve operational efficiency. Mobility-as-a-Service (MaaS) is an emerging new trend that aims to combine various modes of transport onto one platform. MaaS platforms enable users to pay and organize their entire trip using one app or service. In the radio/online taxi industry, MaaS projects seek to combine public transport, bike-sharing, regular taxis, ride-hailing services and other transport modes. Additionally, this convergence offers smooth convenience and flexibility to the passengers and provides inter-linked travel experiences, as well as ease in selecting transportation modes of their choice. Interest in sustainability has guided interest toward electric and sustainable transport in the taxi industry. Both original taxi operators and ride hailing operators are moving quickly to insert electric vehicles into their fleets. In addition, electric vehicles promote reduction in greenhouse gas emissions as well as reliance on fossil fuels. This also translates to cost efficiency through reduced fuel spending. Governments and municipalities are also supporting this transition by providing incentives and charging infrastructure to support the use of electric vehicles within the taxi market. As a response to the evolving market dynamics taxi organizations are entering collaborations and partnerships. Legacy taxi firms have tried to ally themselves with ride-hailing services to enhance their penetration and reach new consumer bases. Through partnering with ride-hailing platforms legacy taxi firms can leverage the convenience and technology-driven benefits of the platforms. Further, taxi firms have also partnered with other service providers like hotels and airlines to provide extra transport solutions too that make the overall journey experience better for consumers.
United States Radio/Online Taxi Market Challenges
Economic factors could impact the taxi market. Variations in fuel prices, deflation and changes in disposable income can affect passenger demand and spending habits. Also, traditional taxi companies may face significant challenges during economic deflation, as passengers may pursue more cost-effective transportation preferences. Moreover, increasing operating expenditure such as vehicle insurance, maintenance and fuel expenses may strain the financial feasibility of both traditional taxis and ride-hailing services. The competition from the ride hailing services has led to decline in market share and revenue for the taxi companies. Also, many passengers have shifted to ride hailing services owing to factors such as ease of use, lower fares, and the perception of better service quality. This shift has also impacted the financial feasibility of traditional taxi companies, who must find ways to maintain profitability in the face of a declined market share.
Market Segmentation
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The United States Radio/Online Taxi Market is segmented based on vehicle type, propulsion channel, user segment, service type, region and competitive landscape. Based on vehicle type, the market is further fragmented into Sedan, Hatchback, SUV, Luxury. Based on propulsion, the market is bifurcated into ICE & electric. Based on user segment, the market is fragmented into Individual, and Tourist & Corporate. Based on user type, the market is bifurcated into ride sharing & ride hailing and based on region the market is segmented into Northeast Region, Midwest, South, and the West region.
Market Recent Developments
- Uber and automobile rental company Hertz have announced a new agreement in October 2021. By 2023, they will offer 50,000 Tesla Inc. vehicles as rental options for Uber's ride-hail drivers. Starting from November 1 in Los Angeles, San Francisco, San Diego, and Washington, DC, Uber drivers will be able to rent a Tesla through Hertz, with plans to expand the program to other cities.
- In Austin, Texas, and Phoenix by the end of 2022, Cruise will introduce commercial robotaxi services.
- In January 2022, General Motors Co. announced its plan to introduce a "personal autonomous vehicle" by the middle of the next decade. GM and Cruise aim to bring a retail personal autonomous car to the market as quickly as possible, according to the statement.
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Company Profiles
some of the major players in the United States Radio/Online Taxi market.
Goodyear Tire and Rubber Company,
Madras Rubber Factory Ltd.,
The Yokohama Rubber Co., Ltd.,
Balkrishna Industries Limited (BKT),
Toyo Tire Corporation,
Zhongce Rubber Group Co.,
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Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
Vehicle Type Propulsion User Segment User Type |
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Regional scope |
Northeast Region, The Midwest Region, The South Region, and The West Region. |
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Key Companies Profiled |
Uber Technologies, Inc., Lyft, Inc., Wingz, Curb Mobility LLC, zTrip, etc. |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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