INDIAN RADIO TAXI MARKET MOVING WITH A ROBUST DOUBLE DIGIT GROWTH

Taxi market in India, has been exhibiting strong growth in past few years. As with the pacing fast world, traveler lifestyle is growing as well. Increasing number of people in the country especially corporates prefer on time, well structured services which is well served by modern Radio Taxis which are well equipped with AC, GPS, 24*7 customer support, electronic fare meter & many other tangible or intangible features.

This growing adoption of aggregator models has resulted in opening up the market for unorganized taxi operators to switch themselves to the radio taxi service market. As a result aggregated model taxis will witness robust double digit growth.

In India, growth of Radio Taxi is growing with quite an effective pace and it’s obvious that till 2020, Indian Taxi Market will boost itself significantly. There are quite many factors behind such amazing growth of this sector like: On the outskirts of metro and tier-1 cities like Delhi, Mumbai, Chennai & Bangalore presence of existing or upcoming industrial hubs corporate parks, create an effective growth opportunities for radio taxi operators. Besides, that young working class particularly opts for radio taxis due to enhanced convenience & safety.

On account of urbanization, the radio taxi services market revenues are forecast to grow at a CAGR of about 17% in 2015-2020. With various benefits offered by Radio Taxis such as enhanced passenger comfort and security as well as GPS/GPRS and internet connectivity, per capita income of the sector will grow as well. 

Commuters not only prefer radio taxi for all the luxury it provides but also for the coupled benefits of  online booking/payment option, booking through applications, 24x7 availability, discounts, etc. which makes their life both easy and comfortable in just a click.

Three-fourth of the market share of radio taxi services in India is selectively dominated by only a few players.

With this brilliant growth, app based aggregated cabs has not only disrupted Auto- rickshaw and Traditional Taxi market, but has also forced automotive OEMs to revise their growth & marketing strategies.

Even with such remarkable growth, this sector face many untapped opportunities due to very few players in the organized radio taxi services market, who at times fail to address the growing demand in the market resulting in unavailability of required number of cabs.

Shriram Automall has also played its part in this huge development as cab drivers of these taxi hailing services come to SAMIL buying a used CNG fitted cars to comply with governments decision which make only CNG fitted cars eligible for being a taxi.

You also can take benefit of the opportunity and get your petrol or diesel car sold at Shriram Automall and can get finance assistance through STFC for buying a used or new CNG fitted car.