The idea of an online taxi booking business has gained huge popularity in recent years. Be it an office commute, a ride back home from an airport or a trip down to a shopping plaza, online taxi booking is becoming the chief mode of travel to get around places.
This trend owes much to the increasing population in urban cities where traffic continues to get worse and parking lots remain full from morning to evening. Companies such as Uber, Lyft, and Grab have successfully capitalized on this state of affairs.
According to statista, the ride-hailing segment amounts to US$183,677 and is expected to grow by 14.8% resulting in a market volume of US$318,765m by 2023.