ICT RESEARCH REPORTS Cab-Aggregators-Market | Page 2

Hyundai, Nissan, and Tata to enable better loan facilities, repayment choices, and financial
benefits for drivers who opt to purchase cars through its channels.
Increasing demand for commuting means for business and leisure activities is
expected to drive market growth
Increasing urbanization across all major economies, rampant economic development especially
in the highly promising markets of India and China, and increased investments in the
development of road infrastructure is expected to present strong growth prospects for the cab
aggregator market participants. Other emerging economies such as India, Indonesia, Thailand,
the Philippines, and Malaysia are expected to present significant growth potential over the
forecast period.
Increasing requirements for daily commuting favored by inconsistency of public transport means
in emerging countries will present as a growth prospect over the forecast period. Industry
participants are increasingly innovating offerings such as providing competitive service costs,
availing premium and luxury cars at the consumers’ doorstep, and proving services at the
required time. Increasing focus of key players in the market to further enhance user experience
by providing low-cost traveling options in these price-sensitive countries is expected to propel
growth the cab aggregators market. However, in the recent past, significant issues regarding
surge in prices and impolite driver behavior of the cabs have significantly impacted these
businesses. For instance, Competition Commission of India (CCI) had reported a probe of the
country’s leading cab aggregator services, Uber and Ola over surge pricing, according to the
Business Standard report in 2017.
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Asia Pacific is expected to witness highest growth rates over the forecast period
Market in countries such as China, Indonesia, India, and Malaysia is expected to witness
significant growth over the forecast period. Consumers in these countries are inclined towards
mobile solutions, which is still in its nascent stage. Moreover, companies are increasingly
focusing on capitalizing opportunities through considerable investments and enhancing their
offerings in these regions. For instance, in May 2017, Ola announced plans to invest US$ 2 billion
in India to ply one million e-vehicles on the Ola platform by 2020. In May 2017, Uber announced
plans to enhance its offerings by enabling offline booking options through SMS, WhatsApp and
calls; and enhance consumer safety by providing car safety related information.
Global cab aggregators industry is consolidated with the presence of few major participants such
as Uber, Lyft, Hailo, Ola, Grab Taxi, Didi Dache, Gett, LeCab, Cabify, and Bitaksi. Owing to low
initial investments and large growth opportunity, large number of new entrants are expected to
enter the market. New industry participants include Cabby, TenZillionCabs, HiCabs, DropTaxi and
Baxi Taxi. These are expected to present considerable challenge to major players and create a
competitive atmosphere in the market over the forecast period.