Increasing adoption of aggregator model along with changing travelers’ lifestyle and preferences to drive NCR Radio Taxi Service in Delhi in 2019
According to TechSci Research report, “Delhi NCR Radio Taxi Service Market, Competition, Forecast & Opportunities, 2019”, total number of radio taxis in the National Capital Region stood at around 104,600 in 2019. Factors such as growing inclination of customers from traditional taxis to radio taxi, 24X7 customer support, booking convenience through mobile app and emergency button, among others are contributing to the increasing proliferation of radio taxi service in Delhi NCR.
Earlier, majority of the radio taxi market in the country was unorganized and launch of aggregator model by radio taxi players such as Uber, Ola, among others is opening opportunities for local taxi players to switch to organized market. Radio taxi providers operating in the NCR region include ANI Technologies or Ola, Uber Technologies, Meru Cab, Mega cabs, among others.
Leading players in the radio taxi market are using both the models i.e. owned fleet and aggregator fleet with the latter segment dominating the market. In owned fleet model, Ola is the market leader with 90% market share. Ola offers radio taxi in five categories with base fare starting from INR38.3 for micro car up to INR100 for prime exec car. On the other hand, Uber offers services through three categories i.e. Uber Go, Uber Premium and Uber XL.
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“Radio taxi services market offers a lucrative business opportunity in India, as a result of which a large number of investors are expressing interest in this business. Venture capitalists, private equity firms and angel investors, both of domestic and international origin, have made huge investments in India radio taxi services market over the last few years. Rising demand for affordable and comfortable travel would continue to boost radio taxi services market in Delhi NCR during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Delhi NCR Radio Taxi Service Market, Competition, Forecast & Opportunities, 2019” has evaluated the future growth potential of Delhi NCR radio taxi service market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Delhi NCR radio taxi service market.
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