Australia Radio Taxi Market to Grow at Brisk Rate During Forecast Period

Decreasing vehicle ownership and increasing smartphone and internet penetration to drive Australia radio taxi market through 2024

According to TechSci Research report, “Australia Radio Taxi Market By Vehicle Type, By User, By Payment Mode, By Region, Competition, Forecast & Opportunities, 2024”, Australia radio taxi market is anticipated to witness significant growth during the forecast period on account of high penetration of smartphones and emergence of 4G internet services. Moreover, radio taxi offers access to transportation without incurring the cost of ownership of the vehicle, which is further anticipated to drive the growth of Australia radio taxi market during the forecast period.

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Australia radio taxi market can be segmented based on vehicle type, user, payment mode and region. On the basis of vehicle type, the market can be segmented into hatchback, sedan, SUV and luxury. SUV is one of the major segments in the market on account of their high demand in the country. On the basis of payment mode, the market can be bifurcated into cash and online. Online payment method is gaining traction and the segment is poised to grow at an impressive rate in the forthcoming years as well owing to cashbacks and discounts on online payments.

Uber Australia Pty Ltd, Ola Australia Pty Ltd, Bolt (Taxify), GM Cabs Australia, Black & White Cabs Pty Ltd., DiDi, Gocatch, among others are the leading players operating in Australia radio taxi market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share in the market. In 2018, ride hailing giant DiDi was launched in Melbourne and Brisbane of Australia.

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“Radio taxi market in Australia is anticipated to grow at a double-digit CAGR on account of increase in cost of vehicle ownership backed by rising fuel prices and reduction in car ownership. Additionally, rising mobile phone internet users backed by surging demand for smartphones are further contributing to the growing share of ride hailing companies in Australia.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Australia Radio Taxi Market By Vehicle Type, By User, By Payment Mode, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Australia radio taxi market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia radio taxi market.

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