Growing tourism industry, rising disposable income and increase in demand for convenient public transportation have fuelled the Mumbai Radio Taxi market. Further, accurate meter readings coupled with hassle free booking and payment model have further driven the growth of Radio Taxi market in the region.
Increasing number of industrial hubs and corporate parks in the outskirts of the city have augmented employment opportunities in the region resulting in growing demand for efficient public transport. Further, aggressive marketing by the players backed by global investors have appealed commuters towards this newer concept of public transport.
According to Pulkit Shrivastava (Research Analyst, 6Wresearch), “Change in commuters lifestyle and preferences, accurate and affordable pricing models as well as high level of customer convenience including safety, comfort and time efficiency have put radio taxi much ahead of other traditional public transports. Additionally, increasing demand from corporate sector and influx of tourists in the city have further assisted the Radio Taxi market in Mumbai.”
“Insufficient supply to match the growing demand of radio taxis, shortage of skillful drivers and rise in the number of crimes due to lack of safety and security have limited the growth of Radio Taxi market in the region.”
Entry of new players backed by global investors along with encouragement by government to grant licenses to prospective radio taxi operators have resulted in the cut- throat competition in the market. As a result of increasing number of operators in the market, players are introducing cost-effective pricing models which are ultimately benefiting the end consumers. Ever-increasing influx of young working class population in the region would further boost the Mumbai Radio Taxi market over the coming years.
Mumbai Radio Taxi market Report provides in depth analysis offering insights on market share. The report estimates and forecast overall Mumbai Radio Taxi market by revenue, overall, owned & aggregator fleet size, service providers and avg. & aggregator trips.
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