In the fast-paced world of technology, the rise in business applications has paved the way for effective business operations. In the case of the taxi industry, deploying an Uber Clone in the business has yielded more profits for the company as it assists in the continuous improvement of operations. When compared to the modes of transportation that play a major role in creating absolute comfort to the customers, the ride-hailing business is said to be topping the table. Why is there a sudden transformation in the transportation modes from public transport to ride-hailing services? What is the reason behind the users going for choosing the taxi-hailing service instead of the traditional transportation modes?
Traditional transportation was the major player in the market, which was both government and private, where people were most comfortable with the travelling fares as it was quite minimal. The emergence of the taxi-hailing services was a quite new concept for the people initially as they weren’t aware of the benefits of the Uber Alternative App. Why are taxi services the most preferred transportation to public transportation? In this blog, we shall now look at the boom of the ride-hailing business and why it is mostly used in the present scenario to travel, including the benefits.
What Does The Stats Say About Ride-Sharing Services?
According to the statistics, there are various interesting facts on the number of users who keep increasing to use the taxi-hailing services. Based on the statistics of Uber the below information has been framed.
- The Uber application has reportedly witnessed 93 million active users.
- Recently, Uber has processed $26.61 billion worth of bookings in the year 2020.
- Every quarter, 1.44 billion rides are completed through Uber, which is a massive number.
- According to the US rideshare market, Uber has a 68 per cent share.
- One of the interesting facts is that only 5 cities alone contribute 22 per cent of Uber’s gross ridesharing bookings.
- Compared to the last 4 years, the monthly active users of Uber have grown at a CAGR of 48.74 per cent from the 4th quarter of 2016 to the fourth quarter of 2020.
- It is seen that Uber processes over $26.61 billion in gross mobility bookings.
- Also, the bookings across the Uber platform has totalled up to $58 billion in the year 2020, where 45.88 per cent is the gross transaction value.
- Uber’s US rideshare business is forecasted to process $29.59 billion in 2021, a boom of 70.15 per cent compared to 2020 when widespread lockdowns significantly affected performance.
- It is witnessed that Uber is the most downloaded taxi application on both iOS & Android.
- In 2020 alone, especially in the pandemic, the Uber app was installed over 95 million times.
Relationship Between Ride-Hailing And Public Transportation
Is ridesharing services competing with public transportation? When compared to ride-hailing services with public transportation, there are various advantages and disadvantages, each face with a motto to assist the people in commuting them from one place to another. Although public transportation is said to be a more economical alternative, it certainly has its own set of limitations. In public transportation, the users have to travel a mile from the common stop that is the standard way of dropping the people.
And from there they need to take up another mode of transport to reach their final destination. Moreover, it takes more time and is less comfortable to reach the destination point on public transport. Compared to the ride-hailing services, it is quite vice versa where there is extreme comfortability where they drop the customers right at their doorstep. Also, without any need to take extra travel and the cost to travel is minimal, which induces the users to switch from public transports to more flexible ride-hailing services.
When it comes to the quality of services experienced. The taxi-hailing services come first, wherein the usage of public transport, it is quite annoying when people need to travel in the rush, which is quite the opposite in the taxi service. In the taxi-hailing services, the comfortability level is more as individual people can take up the services with the same amount of cost they pay in the public transports. It is also seen that there has been a reduction of users in the public transport, as they shifted to go for the comfiest ride-hailing services that are a more effective and efficient alternative solution to commute.
Currently, there is a significant spike in the engagement of people in ride-hailing services mostly in peak hours. But also, sometimes, it is more difficult for the users to find the rides due to the huge demand for rides at peak hours. And sometimes, there is an increase in the fare because of the demand for taxi services. So it is one of the challenging situations for the users, where public transportation has the upper hand over it.
Why Ride-Hailing Services Are The Most Prefered Transportation?
The taxi rides are available for the users anywhere at any time. So, when it comes to availability, whatever the time might be, cabs are quickly available.
The cost to take up the rides is quite minimal as compared to the other transportation, and there are more variants available according to the needs of the user at cost-efficient fares.
The pandemic has caused ride-hailing services to develop various safety measures and features to assure safety to the passengers.
4.Avoid Cost Of Owning A Car
The users choose ride-hailing because the main reasons are that it eventually avoids the cost of owning a car which is an added expense that requires heavy maintenance cost.
Also, finally, due to the professional service provided by the ride-hailing businesses, the users take up quality services from this mode of transportation, which makes the customers feel more comfortable and satisfactory.
It is finally concluded that the emergence of the ride-hailing industry has knocked out public transportation based on various factors. The taxi businesses ensure a comfortable riding experience to the users at flexible prices with various preventive measures, especially in the pandemic situation, which is possible only by implementing an Uber clone in the business. As there is a boom in the number of users availing of taxi services today, it is expected that there will be more improvements in technological advancements, especially in the taxi industry. So, it is said that there will be a sure rise in the usage of Uber Clone apps in the business, which will lead to enormous business opportunities and profits in future endeavour’s.