Taxi App Development – A Blooming Industry For Entrepreneurs
With the success of taxi-hailing services like Uber and Lyft, it can be easy to forget how much of a hassle hailing a taxi used to be. Before the advent of taxi app development, one had to wait on the side of the street hoping that a taxi happened to pass by them, often waving wildly at anything remotely yellow. Then, the industry was introduced to the concept of “call-taxis”. Although they made the process a lot simpler, it was still a far cry from the convenience we have today. Call-taxis required the rider to plan ahead, call and book the cab and wait till it arrived at their location. The taxi service industry was in dire need of innovation.
That innovation came in the form of taxi app development. With the arrival of the on-demand taxi services, the industry was completely revolutionized.
Why Are On-Demand Taxis So Popular?
Taxi app development essentially did what any good business idea does. It filled a need in the market by connecting end-users with service providers who can carry out the service for them.
In the case of taxi app development, this purpose was served by connecting entrepreneurs and customers through an interactive application.
For the customer, taxi apps made their lives a whole lot easier. Now, with just a few swipes, you can have a taxi waiting and ready to go at your front door, all in the span of a few minutes. Taxi app development was also a major reason behind the drop in taxi prices, making travel more affordable to the average user.
But what about the entrepreneurs behind the taxi company What do they have to gain from this you ask? Well, for one, they can get a lot more customers through the use of a taxi app than they would be cruising through the city. Investing in taxi app development also helps entrepreneurs organize their fleet, structure their business in an efficient manner and adapt to an ever-changing marketplace.
Taxi app development brought customers and entrepreneurs together by providing both with what they needed.
But what really goes on behind this phenomenon that has made travel so convenient for us?
Let’s take a quick peek under the hood of this bustling industry.
What Is An On-Demand Taxi Application And How Does It Work?
The development of taxi apps involves drivers and passengers engaging in their needs on the taxi app’s interactive platform. Simply put, it is an easy way to connect passengers looking for a ride with drivers who are available.
This “on-demand” nature stems from the way the service industry is headed with arrival and subsequent popularity of mobile app technology.
The functional workings of taxi app development are quite simple.
The app is split into two different entities. One for the passenger and one for the driver
To get this started, passengers should register their account with the service provider. Once completed, passengers can access the nearby taxis available. When the request is made, the nearest one in the vicinity will be called. Meanwhile, passengers can check traffic data, monitor the driver’s route, and get the estimated time of arrival information.
➼ Search For a Taxi
The location of the user is found using GPS. Users are provided with the available cabs in their vicinity.
➼ Book the Taxi
Users can book the nearest available taxi by pressing the “book a cab” button. Estimated prices are also shown at this time.
➼ Pick-Up Process
Once the nearest taxi has been flagged, the user gets the necessary information such as the driver’s name and contact details, the license plate number of the taxicab, etc along with the ETA. A unique PIN is given to both the rider and driver for cross verification. The ride begins.
➼ Drop Off and Payment
Once the passenger arrives at the destination safely, he or she will be notified of the ‘due amount’ which can be paid through cash or digital payment. After the transaction process is over, the user will be prompted to rate the service and provide feedback.
Drivers have a specific UI that is directly linked to the admin dashboard where the administrators can monitor each and every event. Once the driver decides to sign under that brand name with the company to drive a taxi, they must meet the guidelines.
➼ Getting Started
Once the registration process which requires personal details, driving records, etc is verified, the drivers can start their rides.
➼ Ride Alert
The driver has notified of any ride requests in their vicinity. They can either choose to accept or ignore this request.
➼ Ride Information
Once the driver has accepted the ride, the location of the user is shared with the driver along with the destination.
After the ride has been successfully completed, the payment process is initiated. Drivers are paid a percentage based on their agreement with the service provider.
This step-by-step process has helped eliminate wait times and completely altered how the taxi industry functions.
With a proven method, taxi app development has really exploded in terms of financial viability.
The Numbers Behind The Industry.
Ever since the implementations of taxi app development, the cab service industry has grown to greater heights than ever before.
According to statistics,
- The taxi market is expected to register a CAGR of 9.22%, during the forecast period, 2019-2024.
- The gross revenue in the industry amounts to a whopping US$183,677m in 2019.
- Revenue is expected to show an annual growth rate of 14.8%, resulting in a market volume of US$318,765m by 2023.
But what’s remarkable about this growth is that it is expected to continue at a tremendous pace. With emerging markets such as India and China showing a lot of promise, the sky is the limit for taxi app development.
With all the potential that taxi app development shows, it is almost a no-brainer for entrepreneurs who have the means to invest in this fast-growing sector.
But how does the development process work? What are the features you should look for in a taxi app?
For an entrepreneur who’s unsure about the marketplace, it can be quite challenging to figure out the way forward. Here are a few of the must-have features that your app should have.
➼ A smooth Sign-Up Process
Since this is the first thing that users encounter when trying to use the app, make sure it’s simple to use and also that it looks good
➼ Accurate Price Estimation
This is a very important aspect of paying customers. Make sure your taxi app provides an accurate estimation for the ride
➼ Push Notifications
Stay in touch with your customer base by sending them periodic notifications about offers and deals. Push notifications should also be used to inform riders about their ride details.
➼ Ridesharing / Carpool
Allow your users to ‘share’ a ride with other passengers. This is very important for ‘budget travelers’ who want to save on expenses. Also, a great way to save on petrol and time and for the drivers.
➼ Emergency Assistance / SOS
Safety is important to everyone but it is a point of concern especially for female passengers. Enable a feature that allows for an immediate call for help like an ‘SOS’ button.
These are just some of the features that you need to survive in a competitive market space. The more you offer your customers in terms of service and security, the better it is for your business.
As for the development process, the first step is getting in touch with a reputable taxi app development company like INORU. But before you do so, do the necessary research and have a clear idea of what you’re looking for.
This is the question that’s probably on the forefront of your mind and rightly so. As an entrepreneur, you need to know the costs of your potential business. The answer, however, really
depends on you
What are your needs and requirements? What are you looking for in your on-demand taxi app? Do you want a feature-filled app with around the clock support and the best in mobile tech? Or are you looking for a safe investment in the form of a whitelabel solution with a minimal approach?
The price of taxi app development can vary greatly depending on what you’re looking for.
To get an accurate price range of your very own taxi app, ask for a free estimate and we’ll be happy to help you out.
Taxi app development has never been more popular among the general public. With their immediate availability and ease of access, on-demand taxi services have become the gold standard of the cab industry. This smashing success provides a fertile ground for investment from entrepreneurs from all walks of life. Don’t waste any more time and get started on the path to success by becoming a part of the INORU family today.