Mobile App Development

Ride-sharing Apps Like Lyft, Uber And Ola- What Would Be The Future Prospects For These Apps?

October 20, 2021

What Is The Future Of Ride-Hailing Apps Like Uber, Ola, and Lyft

With the introduction of technology, things have changed drastically. Our lives have become much easier than before. Right from your groceries to your trips, no more waiting in long queues. Now no more waving for a taxi isn’t it? You can simply book your ride using a taxi booking app like Olaand let the taxi wait for you without any delays.

With taxi booking apps like Ubermaking the rides so simple, a lot of people are jumping into this business domain. This has made a lot of software companies offer taxi booking app development to their clients enter this sector.

You will find a lot of on-demand taxi booking apps available today and it has become much easier to book a taxi using our smartphones within minutes.

This blog will help you know the future of taxi booking apps like Ola, Uber, or Lyftand the performance of the market for on-demand apps. Let us have a look at some statistics below

Looking at taxi booking app development you can get a fair idea about its benefits. It will help you understand how this business can help earn profits by mobile apps development .

How Does The Taxi Booking App Help You?

With the help of taxi apps, you can connect two main interfaces at the same time that is – Passengers & Taxi drivers. You can view their activities and data simultaneously

Global Car-sharing Industry Revenues Estimates

The above image helps you know how countries like Europe, America, and Asia make the most of taxi booking app development as it offers steady income.

Also, with the rise in Smartphone users in countries like China, India, Malaysia, more and more people are adopting ride-sharing services in place of regular taxi services to commute. Hence, more and more taxi firms are moving towards taxi booking apps like Lyft,Uber, and Olato facilitate their operations and gain more consumers.

According to the data collected in 2019, 64% of people were using on-demand taxi booking apps like Ola or Uber due to the convenience it offers to the users. When it comes to countries like India who commute almost every day for work or other reasons, prefer taxi booking app like Uberto enjoy a safe ride.

Shared Economy Idea

When it comes to ride-hailing applications that are based on the shared economy model, it can be successful only when all stakeholders participate jointly. This model has been incorporated in different countries leading to the start of Uber in each sector the shared economy has proved to be cost-effective considering the movement.

The studies say that Uber started its journey as a cab-hailing service in 2010. By 2019 it stood out as one of the outstanding businesses in transportation. This inspired Ola to enter the Indian market in 2010 giving a whole new platform for residents to commute.

COVID Pandemic Had Adverse Effects On The Taxi Business

Certainly, just like most of the other sectors, the COVID pandemic affected the taxi business too. The taxi market saw a fall of 46.7 billion dollars in 2020 which was 83 billion dollars in the year 2019.

Today, when life is coming back to normal the market is predicted to recover the losses by 2021. Also, it would expand by 2023. So, it is the best time to dive into creating a taxi app like Uber, Ola, or Lyft.

Advantages Of Building A Taxi App Like Ola

It becomes easy for customers to book taxis using a mobile app. No need to make a phone call to the agency and wait for busy phone lines. No more waiting for the taxi driver to arrive.
The consumer can track drivers through the apps installed on their smartphones
Customers can leave their feedback after the ride. Feedback helps you know the performance of your business in different areas

Advantages Of Building A Taxi App Like Uber

When you opt for a taxi booking app like Uber, you will get an integrated function for feedback that allows clients to leave feedback for taxi services.
You can automate your cab or taxi business with an on-demand booking app. No more hassles for drivers to search for clients and vice versa. No more negotiations on ride fare between clients and drivers. The app calculates the fare ride that both clients and driver agree upon.
The app offers all the details on the location, payment, etc. It eliminates the need for communicating with the consumers constantly

When it comes to on-demand taxi booking apps, most of them have different apps – Customer & Driver instead of having a single app for both.

Commission Structure For Each Ride

The owners of the on-demand taxi booking app charge a fixed amount of commission to the drivers. It can be anywhere in the range of 20-25% on the total amount they earn on each ride.

On the other hand, the aggregator apps ask passengers to pay a service charge to use the app and request a cab. The fee is not revealed directly but is included in the final amount. There are also cancellation fees that the taxi app like Ola charges their users to cancel a ride. This is a revenue generation source for the app owners

Conclusion

The above details would help you know why the taxi booking app development is on the rise or making taxi booking app like Uberpopular.

You can include crucial features like GPS, different payment methods, etc to make your on-demand booking app a success.

Thinking of creating an on-demand taxi booking app for your taxi business? Not sure about taxi booking app development cost? Seek help from X-Byte Enterprise Solutions to get a free estimate. We help you build a robust app and leverage app features for your taxi business.

Bhavesh Parekh

Bhavesh Parekh is a Director of X-Byte Enterprise Solutions, an ever-emerging Top Web and Mobile App Development Company with a motto of turning clients into successful businesses. He believes that client's success is company's success and so that he always makes sure that X-Byte helps their client's business to reach to its true potential with the help of his best team with the standard development process he set up for the company.