Moto taxis are a major part of the transportation network in many developing countries. Their demand is high in some of countries across Asia and Africa, where the population is on the rise and transportation options such as buses and light rail are insufficient and do not serve the last mile. Moto taxis are used for both short hauls and long hauls. In most countries, moto taxi drivers are work in densely populated areas, such as outside department stores, by the exit to train stations, and subway stations. Inadequate infrastructure such as poor condition of roads is a major concern in some developing countries such as India, Brazil, Mexico, and some parts of Africa and Asia. Moto taxi can be used as an alternative in such conditions to offer easy access to a destination while also improving on last mile connectivity. These benefits of moto taxis over other forms of transport are likely to fuel the market during the forecast period. analysts have predicted that the moto taxi service market will register a CAGR of over 16% by 2023.
Increase in investments for moto taxi startups
This rise in funding from various companies is likely to boost the operations of moto tab services startups and expand its geographic presence. This will eventually contribute to the growth of the market during the forecast period.
Ban on moto taxi in various countries
Even though the moto taxi services market is booming in some parts of the world, moto taxis are banned and regarded illegal in some other countries. Hence, the ban on moto taxis will negatively affect the profitability of service providers, thereby affecting the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the moto taxi service market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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