Russia App Based Taxi Aggregator Services Market Expected to Reach USD 5.6 Billion by 2022: Ken Research

USA - English

News provided by

Feb 15, 2018, 06:30 ET

GURUGRAM, India, February 15, 2018 /PRNewswire/ --

Majority of the dispatcher service business will be converted into app based cab booking service.
Yandex taxi (along with Uber post merger) was the largest player in Russia online cab aggregator market
Revenue from online booking including direct and third party booking in self drive car rental market is on a constant rise.
Hertz was the largest self drive international car rental company in Russia in 2017.

Ken Research Logo (PRNewsFoto/Ken Research)

Car rental market in Russia is still in the development stage making a steady progress towards a regularized and organized industry. Growth is mainly driven by transparent and economical pricing along with support from technological advancements in field of navigation and better communication system between driver and customer.

(Logo: http://photos.prnewswire.com/prnh/20130909/638322 )

In 2011 about 12,000 taxi licenses were granted in Moscow which increased to over 82,000 in 2017. Among the Moscow's taxi operators, there are over 1,000 legal entities and over 6,400 self-employed entrepreneurs. Similar rise was recorded in many other major Russian cities. Taxi business in Russia is moving towards the organized sector with increasing participation of drivers opting for registered taxis and permits. New regulations coming into force and competition with existing players further make the working of illegal taxis more difficult. Post 2014, using a taxi in Moscow has become 30% cheaper and the estimated average waiting time is reduced to seven minutes in 2017.

Changing business dynamics made taxi and other car rental services competitive to attract customers to their service. The number of people using taxi services increased significantly especially in large cities. Yandex taxi, Gett, Vezyot, Maxim and Hertz emerged as some key car rental companies operating in Russia.

Citymobil and Vezyot were leading dispatcher taxi service providers in the country. Short term rental hiring by tourists was the major segment contributing to the business. It is the most premium segment in chauffer driven rental market, as per km charges it is amongst the highest.

Tour operator services generally cater to the domestic and international tourists. Most of the bookings in this segment are for short term with average duration varying from a day to a week. Large Corporation especially those associated with manufacturing, surveying and project based work engage the services of transport companies to provide long term rental. Almost all taxi companies were found willing to provide a taxi for long term rental if competitive price and tenure is provided.

According to the report by Ken Research titled Russia Car Rental Market by Type (App Based Taxi Aggregator, Self Drive Rental Car, Chauffer Driven Rental and Taxi Services), and by Off-Airport On-Airport Outlook To 2022, market for overall car rental in Russia is expected to reach USD 13.2 billion in 2022 registering a CAGR of 8.9%.

Key Topics Covered in the Report:

- Russia Car Rental and Taxi Services Market

Market Size
Russia Taxi Service Market Segmentation by On-Airport and Off-Airport Transfers
Future Outlook

- Russia Chauffer Driven Car Rental and Taxi Services Market

Market Size
By Type of Dispatcher Taxi and Chauffer Driven Car Rental
- Tour Operators
- Long Term Rental Companies
- Dispatcher Services
- Ride Sharing Services
Future Outlook

- Snapshot on Car Rental and Taxi Service Companies (Lingo Taxi, Moscow Taxi, Business Service LLC, Meetmetaxi, Kiwi Taxi, LogiTaxi, Angel Taxi, Maxim Taxi, Rutaxi, Fasten, and BlaBla Car)

- Russia Cab Aggregator Market (Online Apps)