Top 10 Companies Leading the Global Taxi Market

The global taxi market size was valued at USD 252.8 billion in 2023. The market is further projected to grow at a CAGR of 11.10% between 2024 and 2032, reaching a value of USD 651.93 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing adoption of online taxi booking services.

Taxis offer affordability, comfort, and security as a mode of transportation. The widespread digitisation is resulting in a growing adoption of online taxi booking. There is a growing trend of adopting electric taxi vehicles across the globe, as part of the decarbonisation efforts. The proportion of cleaner taxi vehicles increased by 15% in 2021, while petrol and diesel vehicles decreased by 24%. This trend indicates ongoing efforts to decarbonise the sector and promote greener urban environments. In 2021, San Francisco boasted the cleanest fleet, predominantly composed of Plug-in Hybrid Electric Vehicles (PHEVs), followed by Singapore, which featured a greater number of BEVs. 

The American public transport agency, Dallas Area Rapid Transit (DART) offers GoLink, an on-demand service supplemented by taxis and ride-hailing. In 2021, GoLink ridership reached 111,342. Since January 2022, GoLink has expanded from 17 to 30 zones as part of DART’s bus network redesign, leading to a significant increase in ridership, which totalled 333,763 in 2022. Also, 75% of GoLink trips were directed to public transport hubs.

As per the taxi market analysis, in 2023, there were 289,400 licensed taxis and private hire vehicles (PHVs) in England. Approximately one-fifth of these vehicles, totaling 57,200, were taxis. The overall number of licensed vehicles increased by 11.0% from 2022 to 2023, primarily due to a 14.6% rise in the number of PHVs. In 2023, there was an average of 5.1 licensed taxi and private hire vehicles (PHVs) per 1,000 people in England, up from 4.6 in 2022. In London, the figure was 11.9 vehicles per 1,000 people, while largely rural areas reported only 2.2 vehicles per 1,000 people.

Figure: Annual Gross Booking of Uber (2018-2023) (USD Billion)

Further, the integration of advanced technologies are anticipated to support the taxi market growth. By adopting AI and machine learning, taxi applications enhance their ability to understand user preferences, thereby providing personalized ride recommendations and targeted discounts.  Moreover, applications leverage real-time traffic data and AI algorithms to optimise routing for drivers and passengers to reduce travel time and alleviate congestion. 

In June 2024, The Rimac Group, a Porsche-backed start-up announced its plan to launch a self-driving taxi in Britain. The two-seater car with no steering wheel, no pedals will hit the roads in 2026.

Top 10 Taxi Companies in the World:

Uber Technologies Inc.

Uber is a global platform providing transportation services. The company operates in segments such as mobility, delivery and freight. The company’s technology is available in about 70 countries around the world, majorly in the United States and Canada, Latin America, Europe, the Middle East, Africa, and Asia (excluding China and Southeast Asia). 

ANI Technologies Private Limited

Ola (ANI Technologies Private Limited) is a major mobility platform based in India and serving more than 250 cities across India, Australia, New Zealand, and the UK. The Ola app provides comprehensive mobility solutions by connecting customers with drivers and a diverse array of vehicles, including bikes, auto-rickshaws, metered taxis, and cabs. Ola enhances convenience and transparency for hundreds of millions of consumers and over 1.5 million driver-partners.

Bolt Technology OÜ

Bolt is a technology company with operations across Africa, Asia, Europe, North America and South America. Bolt has more than 150 million customers in more than 500 cities globally. The company offers taxi rides, food delivery, grocery delivery, scooters, car sharing, and airport transfers. 

Curb Mobility, LLC

Formerly known as Verifone Taxi Systems, Curb Mobility is an entrepreneurial company engaged in the taxi and for-hire industry. The company offers products for mobile app solutions, effortless payment, paratransit, business travel, and advertising. The company boasts more than 100,000 drivers in their network and carried out more than 10 million trips per month. The company’s advertising network contains over 70,000 digital and traditional assets in the US and the UK.

Dubai Taxi Company

Dubai Taxi Company is a leading company offering comprehensive mobility solutions in the Emirate of Dubai. DTC offers taxis, airport taxis, limousine, families and ladies taxis, Ameera Limousine, and Limousine hourly rentals for individuals. For business purposes, the company offers school bus transport, delivery service, Limousine for businesses, and commercial buses. The company has more than 9,000 vehicles (of which are around 6,000 taxis) and managed a workforce of more than 17,500 driver partners.

Flywheel Software, Inc.

Flywheel Software offers software for hailing, tracking ETA and paying for taxi trips through mobile apps. In 2016, the company became the first company to replace all the hardware in an NYC Taxi with a single mobile device for NYC TLC's Alternative Technology Pilot. The company provides drivers in cities such as San Francisco, CA, Fort Lauderdale, FL, Washington, DC, and Houston, TX. FlyWheel foods segment delivers 370 meals per hour, and 1100 meal deliveries per day.

Free Now.

FREENOW is the Mobility Super App operating across Europe and is available in 9 markets in more than 150 cities. The company is backed by the BMW Group and Mercedes-Benz Mobility. The company has a workforce of about 1000 employees in more than 26 offices working for the services of FREENOW. Through a single app the company offers all types of mobility services including public transport services, taxis, private hire vehicles, car sharing, e-scooters, e-bikes, and e-mopeds.

Lyft, Inc

Lyft is a prominent multimodal transportation network in the United States and Canada. The company is listed on NASDAQ under the symbol LYFT. The company’s offerings on the Lyft App include set of transportation modes in select cities, such as access to a network of shared bikes and scooters (“Light Vehicles”) for shorter rides and first-mile and last-mile legs of multimodal trips.

Nihon Kotsu Co Ltd.

The Nihon Kotsu Group is considered the largest company providing taxi and limousine service in Tokyo. The company offers services such as wagon taxi, airport transfer, Tokyo guide taxi, etc. The car lineup of the company includes TOYOTA / Priusα, TOYOTA / ALPHARD, and Toyota / Esquire. 

Roppen Transportation Services Private Limited

Rapido Bike is among the largest Bike Taxi App services. Rapido offers bike taxis, autos and cabs in more than 150 cities across India. The Rapido app boasts more than 25 million downloads across the country and has more than one million captains/drivers. The company also has more than 10 million customers.