India Radio Taxi Services Market Set to Grow over 21% CAGR during 2019-2024

Increasing smartphone and Internet users along with technological advancements in GPS and Navigation system to boost India radio taxi services market through 2024

According to TechSci Research report, “India Radio Taxi Services Market, By Vehicle Type, By City, By User Segment, Competition, Forecast and Opportunities, 2014-2024”, India radio taxi services market is projected to witness growth at a CAGR of 21.1% during 2019-2024. Growth of the market can be attributed to rising smartphone sales and increasing Internet penetration across India. Moreover, improvement in navigation and GPS system is positively influencing India radio taxi services market. Additionally, convenient pickup and drop services available with radio taxis along with their affordable prices is further increasing the demand for radio taxi services across India. Improved location services with accuracy rate of 5–10 meters and raise in purchasing power capacity of people in India would further steer growth in the market.

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Aggregator model radio taxi service providers dominated India radio taxi services market with over 90% share as of 2018. Radio taxi services market is witnessed to be largely concentrated in North India owing to the region’s high population. Rising presence of various companies such as ANI Technologies Private Limited, Uber India Technology Private Limited, Meru Cab Company Pvt. Ltd., Mega Cabs Private Limited, Fast Track Call Cab Private Limited, Wings Travel India Management Private Limited, etc., and their continued operations in radio taxi services industry of the country is anticipated to intensify competition in India radio taxi services market over the next five years.

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