Why you must launch your on-demand ride-hailing mobile application now

It is a fact that enterprises that function with on-demand taxi mobile applications have a lucrative business and a great deal of fame and presence across the globe. They deserve high praises and acclaim for sure as they find a strong presence in terms of services around the world and also for the fact that they have a huge ROI. For entrepreneurs who want to try their luck out with this business, it is a must to know the past, the present and the future of ride-hailing services.

Speaking of the present and future, how exactly is this on-demand ride-hailing business battling the pandemic that has enshrouded the world?

 

When we take everything at a superficial level, it is typical to say that the Covid-19 pandemic has severely impacted the ride-hailing industry because of restrictions created by Lockdowns and Travel restrictions. Several enterprises are doomed because they couldn’t function properly during this grim period. However, when we speak about the On-Demand Mobile Application Industry, it is facing a boom with market share, revenue and customer loyalty being high as never seen before.

 

While the electronic, automobile manufacturing and banking sectors are facing gloomy times, the rise in the profitability of the taxi-based industry must be noted.

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Now, that immediately brings up the next question – How exactly is the On-Demand Taxi business domain shielded from the COVID-19 pandemic?

 

Take a moment to look at the below statistics before brainstorming what might be the reasons for the same.

 

(i) The total revenue of the ride-hailing industry is estimated to achieve the milestone of USD 200 billion by or before 2025.

(ii) This is very much noteworthy as the lucrative income keeps climbing up the ladders. It proves that there is a perfect trade environment.

(iii) Furthermore, it is estimated that the taxicab industry will account for a CAGR of 17.5% in 2025, which is a rapid ascension if we look at the earlier statistics related to the same.

(iv) In 2025, the User Penetration is set to hit a record 20.5%

(v) Another good news is that the market contribution and customer loyalty has optimized when we take into account the countries in the Asia-Pacific region of the globe.

(vi) This Asia-Pacific region contributes to over 70% market share when it comes to the ride-hailing business domain.

 

These facts are enough to enlighten you regarding the phenomenal rise of income and market share, falling under the taxicab/ ride-hailing industry.

 

 

As there is no public transport at present and also as private vehicles are becoming increasingly expensive, the on-demand ride-hailing mobile apps have become the saviour for a given set of people. It is because they use these apps to travel to their offices.

 

Due to the risk of this extremely contagious virus, all the public transport modules across the globe have become superfluous quoting safety precautions. All the companies that operate via taxi-hailing mobile apps have leveraged this situation and have integrated all sorts of robust safety precautions and norms in all their operating vehicles. Such steps taken have made the public aware of what these companies are offering.

 

Nothing can match the comfort and satisfaction along with the connectivity that these ride-hailing mobile apps provide. Typically, Uber and other such competitors in the market are now catering to the needs of the urban and suburban areas where the public transportation used to offer before. In the United States, the whole commutable regions are now filled with the services provided by these apps, and long-distance travel is not far off. It should be noted that these long-distance travel services were carried out only by giants in the taxi business.

 

Speaking of the ride-hailing business, like all the other sectors in the on-demand industry, it speaks of lucrative profits and very minimal risk. With many entrepreneurs jumping into the fray, there is no doubt an intense rivalry yet huge incomes generated at the same time.

 

Conclusion:

It is now or never to work on a start-up vision, and if its ride-hailing, it is wise to get the business started immediately. Begin everything by availing the services of a mobile application development company that has years of experience and reliability. Uberdoo is a notable exemplar when it comes to the development of on-demand ride-hailing mobile apps catering to different visions and requirements.

 

Visit us at Uberdoo.com to begin your ride-hailing business immediately and with style.

 

Author Bio:

 

PrawinChandru is the proactive entrepreneur at Uberdoo, a reputed Canadian technology company that specializes in Uber clone solutions for its global clientele. Deeply involved in Sales & Marketing, he writes blogs during his free time on Artificial Intelligence, Internet of Things and Mobile Application Development.