The ride-hailing industry has come a long way.Only in the span of 10 years, we witnessed its massive growth and more importantly rapid adoption by the customers.Uber and Lyft’s success in the US sowed the seeds for an industry which is now expected to reach the market size of $218 billion by the year 2025.The formula of an app-based taxi business which worked wonders in the US has now spread to each and every corner of the world.If we look at its journey in the Western and Central Europe, then it’s quite fascinating too.The Central and Western European region consists of 13 countries which are: Austria, Czech Republic, Germany, Ireland, the United Kingdom, Switzerland, Belgium, Liechtenstein, Monaco, France, Luxembourg, Netherlands, and Hungary.In this article, we are going to discuss in detail about the ride-hailing market trends, big players, and important events related to ride-hailing businesses in Central and Western Europe.
The rise of the Uber was pivotal in modern times, especially for all the businesses.It’s because it not only disrupted the taxi industry but also laid a platform in the form of an on-demand economy for other entrepreneurs to disrupt several industry verticals.Freight or trucking industry is also among those industry verticals which has undergone tremendous change due to the Uberization.Today, Freight or truck industry in the US is worth approx.Trucks are the most preferred mode of transporting cargo as 84% of the total freight spending is done just on trucks.By the year 2027, the amount of cargo moved by the trucking industry will be 27%.ATA has also estimated that the total freight tonnage will increase by 35% between 2016 and 2027.The above stats make one thing very clear that the trucking industry is booming.However, the real question arises is that how you can take the piece of this cake?
What comes to your mind first when you want to book a taxi ?If you are thinking about Uber, then you are right.As per statista, Uber has completed approximately 1.7 billion trips in the second quarter of 2020.A few years ago, no one would have imagined that the emergence of taxi-hailing apps will drastically change the scenario of taxi business markets.As per statista, the revenue in the ride-hailing markets will be $1,588.2 billion US dollar (approx.)From this, we can say that the taxi-hailing industry is going to witness an upheaval.That is why you need to create a robust app for your taxi business.Apart from giving a rich taxi-booking experience for your customers, a robust taxi dispatch solution can also reduce the time of your administrative tasks.
We at Yelowsoft believe in the mantra of indulging in continuous introspection and improvement to achieve perfection.Years of experience have made us realize that to remain relevant and future proof in a fickle and chaotic market; you must reinvent yourself from time to time.This is the reason why we have come up with so many changes and updates in our solutions over the years.Continuing that tradition, this time we have come up with a mega-update in the form a Super App.Yelowsoft has finally come with its own Super App which enables our client to offer multiple services from the same platform.Before we talk about Super App, let’s understand what Super App actually is?What is a Super App?Super App can also be termed as an umbrella app which consists of many apps within.Super App enables customers to access a number of diverse services from the same app.Chinese giants WeChat and AliPay popularized the concept of Super App.
IntroductionThe rise of Uber in 2009 has revolutionized the global taxi-hailing business.It allowed its customers to book a cab in a few clicks on their smartphones.As per statista, revenue in the ride-hailing segment will grow at approximately 461 million USD in 2020.From this, we can say that the taxi-hailing industry would be going to see massive growth.After witnessing a huge potential in the taxi-hailing business, various players are looking for creating the best ride-hailing solution for their startups.The ease of booking and enhanced passenger comfort is also the key reasons for this growth.Why is there a demand for ride-hailing businesses in the Middle East?Middle East countries have attracted the attention of the global ride-hailing industry due to its reputation of being a center of economic development.The tourism industry is the fastest growing industry in the Middle East.As per statista, the total contribution of the travel and tourism sector is estimated at around 486.1 billion US dollars (approx.)
AboutClick To Go is an advanced platform that bridges driving partners and users with the help of a mobile application.Click To Go offers top-notch ride-hailing services.Its application also offers its drivers with detailed reports and insights like income earned, hours travelled, kilometres travelled, etc.Click To Go leverages precision of technology along with the support of trained personnel to offer a reliable and safe service to its users via their intelligent interface that enables their drivers, sellers, and users to interact effectively.Apart from ride-hailing services, Click To Go also enables users to order items from the supermarket, instant food deliveries from the restaurants and many more.Click To Go has become a saviour for drivers who are looking to earn some extra money as it provides them with several users who wants to ride around or wants food to be delivered to their doorsteps.The ride-hailing market in Mexico has increased in the recent past similar to other countries of the Latin America region.If we look at the stats then according to Statista, the total amount of revenue in the ride-hailing industry is estimated to reach US$2,464m in 2020.READ MORE : Yelowsoft delivers Super App to its Mexican client Click To Go
The ride-hailing industry is in the hibernating phase due to the COVID-19 impact.Nothing much has happened in the recent past except the adverse economic impact of COVID-19 on the ride-hailing industry.But even in such a phase, Uber managed to grab everyone’s attention with its latest acquisition of U.K based company – Autocab which is known for selling SaaS solutions to private hire and taxi companies.Till now, the price of the acquisition has not been disclosed.Moreover, Uber has also declined to comment on the terms of the deal.This acquisition move is a crucial one for Uber as it helps them to expand their operations’ footprint in the UK.It’s important to note that currently, Uber is operational in only 40 towns and cities.Most UK towns except London have the presence of independent private hire taxi firms.
COVID-19 pandemic is changing all our lives.This health catastrophe that has inflicted unimaginable destruction by causing the death of millions has also turned out to be a global economic disaster.This is mainly due to the preventive measures taken by authorities which include strict rules of social distancing and lockdowns that has adversely affected almost all the business sectors.However, even this gloomy scenario has a silver lining for a few businesses like on-demand grocery delivery and food delivery.There has been an unprecedented surge in the number of downloads of on-demand grocery apps around the world.As per Apptopia, grocery players in the US like Walmart Grocery, Shipt, and Instacart saw a surge in their daily downloads by 160%, 124%, and 218% respectively.
AboutThe black ride is one of the prominent ride-hailing services in Ghana.The black ride allows its passengers to ride in Ghana’s coolest cars by making requests via mobile apps or by simply making a phone call to their control centre.This service allows even those passengers to book a ride who don’t have the BR app on their phone.With the TBR app, the passengers can book both black rides as well as the regular clean taxis.Not only this, but the passengers can also schedule their ride for later dates too.The main objective of The Black Ride is to redefine the transport industry in Ghana with its advanced technology platform that connects drivers with riders in a clean and safe way.They believe that their venture would initiate a new professional environment which is the need of the hour in the country’s transportation industry.Moreover, they are also looking to generate employment for the people.
The COVID-19 pandemic has caused unimaginable mayhem in most parts of the world.First, the obvious one is the massive number of loss of lives.And the second outcome is of its impact on world economics.COVID-19 has either slowed down or shut a huge number of businesses across the world.The fear of catching the virus has forced people to stay inside their houses.Moreover, the restrictions imposed by governments like lockdowns and curfew have also caused a massive impact on both small as well as big businesses.If we go industry-wise, then the magnitude of impact varies from one industry to another.Businesses that rely on more human contact are severely impacted.
Well known economist, E.F. Shumacher mentioned in his 1973 essay collection Small is Beautiful that “today, we suffer from an almost universal idolatry of gigantism.It is therefore necessary to insist on the virtues of smallness—where this applies.”Today, after almost four and a half decades later his words are truly put to practice with micromobility – a rapidly increasing transportation service which includes electric scooters, dockless and docked shared bicycles, e-bikes, electric skateboards, etc.The concept that was introduced to the market in the latter half of the 2010s has resonated with the needs of the consumers which is quite evident from the rapid adoption of micromobility in just a matter of few years.Micromobility is seen as an effective solution that can establish a better connection between people and public transport.This connect would reduce reliance on private vehicles and also help in reducing congestion in urban areas across the globe.Having said that, micromobility service like many other new entrants in a system is facing strong resistance and backlash both from the city governments and the e-scooter providers.In this article, we will discuss the evolution of micromobility.We’ll also discuss micromobility programs and the various steps taken by the micromobility program service providers.READ MORE : Evolution of micro-mobility: From past to present
AboutMyCar is a Malaysia-based e-hailing ride application that offers their riders with on-demand passenger transport services in 14 major cities of the country.MyCar is owned by the platform apps Sdn Bhd, which is a technology company founded by Mohd Noah Maideen.MyCar officially started its operations on February 2018.Today, there are around 113,800 drivers registered with MyCar, out of which 20% are women drivers.More than 2 million riders use MyCar’s services in a month.MyCar’s vision is to become the most preferred e-hailing service in the region with its most affordable transportation offerings.The traditional taxi services in Malaysia don’t have a good reputation.This is evident from the fact that the list of the world’s worst taxi drivers which was published by LondonCabs.co.uk.This is primarily the reason why riders choose app-based ride-hailing options other than the traditional taxis.The market of ride-hailing in Malaysia is ever-increasing.
The food delivery businesses are booming across the world.Uber Eats, GrubHub, Swiggy, and other food delivery app’s success stories are a testimony to that fact.Well, the answer is quite simple.Food delivery apps offer quick, easy, and convenient food delivery option without much human interaction.It offers customers the luxury of ordering their favourite cuisines from their favourite restaurants by simply making a few taps on their smartphone.Well, that was from a customer’s perspective, but why one must build an on-demand food delivery app?The answer lies in the ever-increasing demand and popularity of on-demand food delivery applications.As per the eMarketer research, almost 23%of the US smartphones will be using applications for delivering food by the year 2023.
The delivery businesses are booming all across the world thanks to the cutting-edge technologies and tools that are enabling these businesses to offer rich customer experience along with pushing the delivery standards higher and higher.Most of you might have heard of on-demand deliveries.The food delivery businesses that satiate your hunger with instant delivery of your desired cuisines are an example of an on-demand delivery business where the food is delivered on your demand.Similarly, there are on-demand taxi booking services like Uber, Lyft, Grab, and many more which enables you to book a cab on your demand.In these businesses, the delivery person gets money for each delivery.These were the prime examples of on-demand deliveries.Then there few delivery businesses which don’t work on-demand business model.Ecommerce delivery is the best example of this type.
AboutSandra is a taxi application based in South Africa.Sandra’s aim is to emerge as the best local on-demand taxi app service that can offer the best customer service whether the customers are travelling alone, riding with someone, or making stops along their journey.According to the industry reports, around 70% to 80% of entire South Africa’s population is completely dependent on public transport for commutation and mobility purpose.The minibus taxi is the most chosen mode of transport by the South African population.That’s the reason why these minibus taxis have an annual turnover of between R60bn to R90bn.Sandra knows this fact very well and that’s why they want to offer a better alternative to the people of South Africa with their fast, affordable, and convenient on-demand taxi service.With Sandra, the users can book a ride immediately or can schedule it for later.Moreover, Sandra’s app also allows its riders to track their driver’s location, view ride history, and get fare estimation.With Sandra, customers can select any cab type of their choice from normal sedan to premium sedan or a minibus.
The taxi booking business has rapidly boomed in many countries of the African continent.Especially countries of the West African region have witnessed big taxi players like Uber expanding their business in the region.Moreover, it has also seen the emergence of local taxi startups that have done well in many countries of this region.The West African region consists of many countries like Ghana, Guinea, Guinea-Bissau, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, Liberia, Togo, Saint Helena, Niger, Nigeria, Gambia, Senegal, Sierra Leone, Mauritania, Ghana, and Mali.In this article, we will focus on the latest developments taking place in the taxi booking industry in this region.We’ll see the taxi booking market stats, major players, and other major incidents that have shaped the taxi booking landscape in this region.Let’s have a glimpse of some taxi industry stats of this region.READ MORE : Ride-hailing companies West Africa
Technology has been shaping businesses for a long time.Take any business today and compare it with the way how it used to be operated only two decades ago and you’ll find out that the difference is enormous.Technological advancement helps businesses to adapt to the current times.It’s quite evident that all those businesses that have failed to adopt the latest technologies in their business have perished.It wasn’t a long ago when pen and paper were significant to restaurants as they were used to write down orders.Those were the times when advertising used to happen only via print and television and a coupon used to be an actual tangible newspaper.However, with technology, everything changed.
AboutiBuk is a consolidated services corporation in the Philippines.This is a novel concept which is built on a framework of Transport Network Company that enables individual car owners, driver groups, cooperatives, and corporations to work with complete independence as entrepreneurs.Moreover, the technology of iBuk application allows them to offer affordable, personalized, reliable, and upgraded service to the passengers.How Yelowsoft helps them?Yelowsoft helped iBUk by providing them with a top-notch solution that can fulfil all their requirements.Our client iBuk mainly offered three services which were e-mutor, E-rent, E-dala.In E-mutor, they provided taxi services through bikes in which a rider can book his bike taxi in a matter of seconds.Similarly, E-dala is the name of their parcel delivery service in which users can send their important documents from one place to another.However, their main focus was on E-rental which was their car rental service in which users rent the car for long-distance travels or travel with several stops in between.
Over the past decade, the on-demand economy has rapidly replaced the traditional business models by offering the users with faster speed, better convenience, and advanced security.According to the stats, the on-demand economy is the most talked-about term since it has completely transformed the way various businesses used to run.Uber and Airbnb are credited for shaping the on-demand economy in the US.As per that stats almost 42% of the US citizens have used the on-demand services at least once.Moreover, as per the Harvard business Review, the on-demand economy is adding a staggering amount of 22.4 million users every year.It’s also interesting to note that the on-demand economy has given birth to many business models and ideas which were earlier non-existent.On-demand delivery is one such model.
The region of North Africa consists of countries like Morocco, Sudan, Egypt, Libya, Algeria, and Tunisia.In the past few years, this region has witnessed many disruptions in the ride-hailing industry.The biggest disruption perhaps was the Uber and Careem merger which we’ll discuss in detail later.First, let’s get a glimpse of a few ride-hailing stats of the region.The total amount of revenue for the ride-hailing and taxi segment for the North African region amounts to a total of US$1,114m in the year 2020.This revenue is estimated to exhibit annual growth at a rate (CAGR 2020-2024) of 20.2%.This growth will result in a market volume of a mammoth US$2,326m by the year 2024.The user penetration is also set to hit the 8.3% mark in the year 2024 which is currently at 7.0% in the year 2020.Currently, the average revenue per user (APRU) is US$67.08.READ MORE : How the ride-hailing industry is shaping up in North Africa?
We all are familiar with saying “change is the only constant”.This philosophy is universal and is applicable to almost all aspects of our lives.As businesses need to update and change themselves constantly to keep up with the unpredictable nature of the market.However, even after knowing this fact, many business owners tend to be ignorant.The decline of the traditional taxi business is the best example of it.This rigidness or lack of innovation from these traditional taxi businesses caused their downfall.And this is something not only limited to the traditional taxi businesses as the app-based taxi businesses might also face the same end if they fail to innovate from time to time.
Caribbean Islands have emerged to be a huge market for ride-hailing companies around the world.In this article, we are going to discuss in detail about every aspect of the ride-hailing industry in the Caribbean islands.So, let’s begin with the ride-hailing market in this region.The stats support this as the revenue in the ride-hailing & taxi segments amounts a mammoth US$107m for the year 2020.This revenue is estimated to show annual growth of 16.8% from 2020-2024.This growth in the CAGR will result in the market volume of US$199m by the year 2024.Moreover, the average revenue per user (APRU) as of now amounts to US$52.87.The ground realityHowever, these promising stats don’t add up to the ground realities.
AboutTake me is a Saudi Arabia based Taxi Company which provides top-notch taxi booking services.Take me provides the finest services by using highly efficient Saudi drivers.Take me is committed to maintaining a high quality of taxi booking services.With Take me, a rider can simply book a cab by tapping “now” and can go for their daily work, shop, or any place.Moreover, riders can also pre-book a cab for scheduled rides like to reaching airport without any delays.READ MORE : Yelowsoft assists Take Me to emerge as a leading taxi booking service in Saudi Arabia
There’s no movement on roads, water, or sky.People across the globe are sitting in their houses and following social distancing.At the same time the corona warriors like doctors, nurses, healthcare assistance, and police are doing their best to control this unprecedented situation.And things are not going to change unless we find a vaccine.Apart from being a health disaster, coronavirus has also proved to be an economic disaster for the whole world.Businesses around the globe are losing a gigantic amount of money.However, the magnitude of impact has varied among various industries.
AboutBigo Lite is a mobile application that provides comfortable and efficient trips in Costa Rica in just a matter of a few seconds.They provide this service 24×7 a day.They also employ cutting-edge technology that enables convenient and fast rides across the cities.All the drivers of Bigo Lite have the necessary documentation and are permitted to drive anywhere in Costa Rica.Moreover, these drivers are also trained periodically to deliver excellent service.ChallengesMigration of existing passenger and driver data to our systemEarlier, Bigo Lite was using another system for their taxi business.Now, they wanted the data migration to take place from their existing system to our system.Our client wanted to ensure that the entire data migration process has the least amount of impact on their existing driver and passenger data.Wanted to integrate ride pool or ride-sharingBigo Lite had started marketing campaigns about starting ride-sharing service on their platform.
Time and time again Yelowsoft has come up with various updates which make our product better than before.At Yelowsoft, we are always looking to improve our products as per our clients’ requirement.Continuing the same tradition, we came up with yet another product update in the form of driver payment settlement.So, the first question is what exactly is driver payment settlement?To answer this it’s important to understand that the taxi business is very complex in nature due to the presence of a large number of drivers, riders, vehicles, and many other components.Even more complex is the management of the billing, invoice, and payment of all drivers.To accomplish this herculean task, taxi companies require the help of the automated driver settlement solution that can track the payments, generate an invoice, and settle all kind of payments with utmost accuracy.
The competition in the ride-hailing industry has been one of the highlights of this decade.The competition which started from Uber and Lyft has now notched-up due to the entry of many new players both in international as well as regional markets.However, it’s also true that with time the number of competitors has dwindled leaving only a few prominent names.And all of them are now looking for a geographic expansion which will also serve as the benchmark as to who will become the global leader in the ride-hailing market.According to Goldman Sachs, the ride-hailing industry will be ballooning to a mammoth $285 billion by 2030.This can be further escalated as China’s Didi Chuxing is giving a great competition to Uber.In fact, it has surpassed Uber as the world’s most valuable startup.
AboutNaviGo is an app-based ride-hailing company which enables riders to connect to the nearest driver within a matter of a few minutes.The company was established in Koh Samui, Thailand by a local with a goal of improving the state of public transportation for both locals and tourists.The company’s co-founder Pete Poolsawad started the company with just 5 cars in order to test the market.They had high hopes for bringing the change as they were the first taxi app company to operate on the island.Currently, the company has over 50 experienced drivers that provide taxi services to the entire community.NaviGo has now become the first choice for everyone’s travel needs in Koh Samui.ChallengesWanted to introduce parcel and food deliveryMany taxi companies are now moving beyond taxi to tap various markets.Similarly, our client also wanted to cement their foot in various other industry segments like courier delivery and food delivery.
Over the years, we have solved numerous challenges and issues faced by our clients by providing them with effective quick fixes in the form of feature updates in our taxi booking solution.Solving all these issues made us aware of the problems that many taxi firms face.One of such problems was the pricing schema.It helps the company to define the algorithm for their prices.Different companies use different pricing schema depending upon various factors like their revenue model, geography, demographics, fleet size, and many more.We also saw that many taxi companies who were in their startup stage had chosen a particular pricing schema.However, once they expanded their business they had to make massive modifications in their pricing structure which posed a huge challenge as the existing taxi booking solution wasn’t able to accommodate those changes.
Over the years, we have seen the on-demand economy booming with the entrance of big players like Uber, Lyft, Grab, Gojek, and many others.These companies have disrupted many industries at a time be it taxi, food-delivery, ecommerce, etc.3 It won’t be wrong to say that the taxi industry was the one which was most disrupted by this.Moreover, with people using more and more on-demand services, we are witnessing a new trend among the ride-hailing taxi business.We are seeing ride-hailing businesses exploring into different ventures especially the food delivery.UberEATS is the prime example of it which began in August 2014.