Anand Kumar Mishra
8 Mins to Read
Table of content
Everything You Need To Know About Taxi App Development Solution
These days, people use mobile apps for many things because technology has improved and the internet is easy to access. There are different types of services that can create apps for booking taxis. If you need a taxi app, you’re in the right place.
Living in a big city can make it tough to find and pay for parking. That’s why more people are using public transportation, taxis, bikes, and services like Uber. If you want to start a business in transportation, the best thing to do is create a mobile app for booking taxis.
- The Asian-pacific accounts for over 73.14% of the global taxi market.
- Even with the pandemic peaking, the taxi industry generated a revenue of $271 billion in 2019 and $183 billion in 2020.
- By 2027, the market volume is predicted to reach US$378.80 billion, with revenue anticipated to increase at a 3.31% annual rate (CAGR 2023–2027).
- In 2023, user penetration is also expected to rise from 18.1% to 19.4 %.
- The overall revenue of the taxi business is projected to grow at a rate of 14 % between 2020-2024.
- Ola holds a market share of around 58% in India, followed by Uber with 38%, and is expected to reach $25 billion by 2025.
- The UK’s ride-sharing market reached $6885 million in 2020 and is increasing at a CAGR of 14.5%. It is expected to reach a market size of $11,841m by 2023.
- The revenue from popular taxi apps is expected to hit $133,473m by 2023.
Why build a taxi booking app in 2023?
The market for taxi booking apps has been on the rise for a few years.
In 2023, the revenue in the taxi and ride-hailing segment is projected to reach $332.50bn as compared to USD 113 billion in 2020. In the subsequent four years, the revenue is anticipated to increase at an average annual rate of 5.30%, reaching $368 billion by 2026.
As the markets grow, more and more companies are becoming interested in Taxi App Development. Since these applications make life easier for both drivers and passengers, everyone who does business in the taxi industry—or is just thinking about doing so—can profit from them.
Advantages for Passengers :
- Taxi-hailing on curbsides
- User-friendly payment method
- Transparency and safety
- Detailed ride estimation
- Time-saving ride-booking
Advantages for drivers:
- Convenient system of finding passengers
- Online payments
- Feedback for each passenger
- GPS support around cities
Steps in Taxi App Development
Step 1: Identify Your Goals
Firstly, decide what kind of taxi app you want to offer. The development of a service for transportation, such as a carpooling app, a vehicle rental service, a shuttle service app, and so forth, are all good taxi app development options.
Step 2: Understand the Market Situation
The market and the environment where the app will be released must be considered once the idea for your taxi app is finalized.
Step 3: Find a Proper App Developers Team to Build a Solid Product
This one is one of the most crucial steps immediately involved in app development. It is crucial to find an Android app development company that you trust and one that understands all your requirements.
Step 4: Cover Challenges
There are several obstacles to overcome when creating an application for a cab service, just like in any other industry. However, they are not confined to:
- Safety concerns
- Severe competition
Key features of a Taxi Booking App
The driver and passenger apps are taxi apps’ two main audience segments. The app administrators simultaneously have access to a panel to oversee business activities.
Passenger app features
Login and signup: An email and SMS verification code sent to the user’s phone number can be used to log into the app. You can also request the user’s identity, contact information, and other personal information.
Payment methods: Include popular payment methods in your taxi booking application. App users will have a better experience when they book cabs using their chosen payment method if there are more expanded payment choices.
Define user location: Your app will ask the user for approval before accessing their location. It will enable taxis’ access to passenger locations.
Request a ride: The user can order a taxi and specify the pickup location. Additionally, passengers can adjust the route and check the cost of the trip.
The matching: The app will connect nearby drivers with passengers based on location.
Trip awaiting: With this feature, the user can cancel the trip and receive a countdown that indicates when the driver will arrive by monitoring their location.
Online payment: Passengers can pay using integrated third-party payment gateways or online means like debit or credit cards.
Notification: Push notifications are sent to the passenger’s device to notify them of various updates, such as the acceptance of booking requests.
Driver app features
Login and signup: By giving their phone number and waiting for an SMS with a verification code, drivers can log in to the app. Additionally, the driver might be asked for their bank account information and vehicle registration information.
Geolocation: With integrated street navigation provided by Google Map API, the driver can find the passenger’s location.
Rides: Drivers can view search parameters and a summary of requests with details.
Trip request confirmation: Drivers can confirm the journey, await passenger confirmation, and cancel the request using this feature.
Trip: It provides details regarding passenger’s approval. The arrival of the vehicle is notified to the passenger. The time history of when the ride began and concluded is also provided.
Cost of a taxi app development solution
There are various factors that affect the cost of developing a taxi app development solution. Some of them include the following:
- Taxi booking app development complexity
- Platforms you select
- UI/UX design
- App size
- Development team hire and location you choose
You cannot calculate the exact cost of developing a taxi app solution. However, you can hire the best iOS app development company to fulfill all your development needs.
People are adopting cheaper and more convenient solutions for transportation. As a result, the taxi booking app market is growing rapidly.
The number of taxi booking apps is soaring every day. Your potential customers have many choices available. But you make an impact by offering an app that stands out and is better than your competitors.
Having a reputable Android app development company like Apponward by your side will make it much simpler to build a successful taxi booking app. Our team can assist you with everything from selecting the best framework to developing app launch strategies.