The rise of ridesharing apps in India
The ridesharing apps market at present is led by two major players - Ola cabs and Uber cabs who are fighting for the major market share.
HYDERABAD, India - Ever thought of travelling to a new city without any pre-arranged taxis? Well if this was asked in 2006, the answer would be 'no'. But today with the mushrooming car rental industry, this is no more a dream. Ola, Uber, Meru Cabs and others have made life so comfortable and convenient for the users. The car rental market in India is poised to grow by $7 billion by 2020, which shows the potential of this burgeoning market.
The market at present is led by two major players - Ola cabs and Uber cabs who are fighting for the major market share. For both of them 60% of the major revenue comes from 7 major cities (Delhi, Hyderabad, Kolkata, Chennai, Mumbai and Bengaluru); emerging cities like Pune, Indore, Jaipur and Ahmedabad contribute for 40% of the users. At present, Ola is handling approximately 7.5 Lakh bookings per day whereas Uber accounts for 5.8 Lakh bookings. Ola has a fleet size of 3.25 lakhs and Uber has a fleet of 2.5 lakhs, and both reached 1 million bookings per day by the first quarter of 2016.
But what has made this market so big - Just the competitive pricing? Or is it their increase in fleet or facilities offered to the clients. Well, a big credit can also go to the online coupons and attractive promotions that have lured consumers to opt for these cabs offering never before prices or an unforgettable experience.
In a survey by leading Ecoupons Company, Shop Pirate Coupons
, among Ola and Uber cabs users, more than 62% car riders use the promo codes and ecoupons to travel within the city and approximately 24% use these coupons for outstation travels. There are few very interesting facts shared in the survey like ridesharing is most preferred by college students, young adults (aged between 28-35 years) and corporate professionals. The survey also gives insight about what makes these taxi services so popular among the drivers' community and how it is opening doors for more employment. The survey gives an interesting insight about these corporate giants' developments and visions. All these facts and topics are covered through an informative infographic. Read the same for more details.