Corporate and young India relies on radio taxis
Forecasts reveal further growth for India radio taxi services market, which has been reporting noticeable YOY growth since 2009. Taxis in India are no longer the realm of traditional black & yellow cabs as modern day radio taxis have captured a fair share of taxi bookings here.
As per a TechSci Research report, “India Radio Taxi Services Market Forecast and Opportunities 2019″, revenues forecast points to CAGR of about 25% during 2014-19. Rapidity is attributed to urbanization, increase in demand from corporate sector, growing per capita income and benefits offered by Radio Taxis.
At present, major radio taxi providers in India include Meru Cabs, Carzonrent, ANI Technologies, and TaxiForSure with metro cities such as Delhi, Mumbai, Bangalore, Hyderabad and Chennai being robust as a result of high corporate demand from existing and upcoming industrial hubs and corporate parks on outskirts of metro and tier-1 cities. Efforts are now being concerted on service network expansion in tier-2 cities. A younger working class relies on convenience and safety of radio taxis. Radio taxi market in India will continue to grow positively over the next 5 years.
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