M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

India Radio Taxi S ervices Market Forecast & Opportunities , 2021

T a b l e o f C o n t e n t s

S. No. Contents

1. Research Methodology

2. Analyst View

3. India Radio Taxi Services Business Models

4. India Radio Taxi Services Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1. By Region

4.2.2. By Company

4.2.3. By User Segment (Individuals, Corporate & Tourist)

4.2.4. By Payment Mode (Cash, Online Payment & POS Machine)

4.2.5. By Vehicle Type (Premium/Luxury, SUV/MPV, Hatchback & Sedan)

5. India Radio Taxi Investor Analysis

6. India Radio Taxi Tariff/Fare Analysis

7. Market Dynamics

7.1. Drivers

7.2. Challenges

8. Market Trends & Developments

8.1. Introduction of Radio Taxi Apps

8.2. Growing Popularity of Cab Advertisements

8.3. Availability of Easy and Flexible Payment Options for Radio Taxi Services© TechSci Research

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T a b l e o f C o n t e n t s

S No. Contents

8.4. High Demand from Corporates

8.5. Increasing Joint Ventures and Investments

8.6. Rising Promotional Activities

8.7. Growing Recruitment of Educated and Skilled Drivers

8.8. Introduction of High-end Cars in Radio Taxi Fleet

8.9. Increasing Penetration Across Tier-II and Tier-III Cities

8.10. Emerging Market for Rental & Outstation Radio Taxi Services

9. Policy & Regulatory Landscape

10. India Economic Profile

11. Competitive Landscape

11.1. ANI Technologies Private Limited

11.2. Uber India Technology Private Limited

11.3. Meru Cab Company Pvt. Ltd.

11.4. Mega Cabs Private Limited

11.5. Wings Travel India Management Private Limited

11.6. Carzonrent (India) Pvt. Ltd.

11.7. SMS Taxi Cabs Pvt. Ltd.

11.8. NTL Call Taxi Private Limited

11.9. Chanson Car at Call Pvt. Ltd.

11.10. Fast Track Call Cab Private Limited

12. Strategic Recommendations

13. About Us & Disclaimer © TechSci Research

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R e s e a r c h M e t h o d o l o g y

A

C

B

Primary Research

Company Analysis

Desk Research

Identifying Key Opinion

Leaders

Questionnaire Design

In-depth Interviews

Market Participants

Key Strengths

Radio Taxi Service

Providers’ portfolio

Recent

Developments

Market Changing

Aspects/Dynamics

Government

Policies

Rental Tariff

LinkedIn TechSci Internal

database

Factiva Hoovers

Paid Sources

Company Website Company Annual

Reports White Paper Study Financial Reports Investor

Presentations Regulatory Body Associations, etc.

Secondary Research

Primary Research

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

• In-depth secondary research was used todetermine top players in India radio taxi servicesmarket, overall market size and to identify topradio taxi service providers.

Market Profiling

• In order to conduct industry experts interviews,TechSci Research formulated a detailedquestionnaire.

Formulating Questionnaire

• List of industry players (service providers),drivers and industry experts was developed.

Developing List of Respondents

• TechSci Research conducted interviews withindustry experts, industry players, and driversfor data collection and verification.

Data Collection

• Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.

Data Validation

• The data was scrutinized using MS-Excel andstatistical tools such as Time Series Analysis,etc. to obtain qualitative and quantitativeinsights about the India radio taxi servicesmarket.

Data Analysis

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R e s e a r c h M e t h o d o l o g y

Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leadingradio taxi companies and radio taxi drivers operating in India. The information thus gathered throughprimary interviews was cross-verified through industry experts to generate meaningful results. We alsoput through an exhaustive search of credible paid databases such as Business Week, Factiva, Hoovers,etc., including our internal database. Our team of analysts has then prudently evaluated all the collectedinformation and presented the same in chronological order to depict a meaningful and clear picture of theradio taxi services market in India. Actual figures may show a maximum deviation of ±7% to figuresincluded in the report.

While compiling the data, we have also cross checked all collected information from multiple sources anddata warehouses, so as to present the most accurate and precise information of the concerned industry.We use innovative business model that focuses on improving productivity, which ensuring creation ofhigh-quality reports. The reports are prepared with in-depth primary research, followed by exhaustivesecondary research.

Primary Research – Companies Interviewed Few of Sources of Secondary Research

S. No. Company Names

1. ANI Technologies Private Limited

2. Meru Cab Company Pvt. Ltd

3 Mega Cabs Private Limited

4. Fast Track Call Cab Private Limited

5.Wings Travel India Management Private

Limited

6. Carzonrent (India) Pvt. Ltd.

S. No. Secondary Sources

1. Economic Intelligence Unit (EIU)

2. Business Week

3. World Bank

4. IMF

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R e s e a r c h M e t h o d o l o g y

For the preparation of India radio taxi services market report, bottom-up model has been used, which hasbeen later validated by using top down approach.

Vehicle Fleet Size (Volume Market)

The basic data point used for analysis of India radio taxi services market include vehicle fleet size of radiotaxi service providers. Data for vehicle fleet size has been extracted through Delphi technique, i.e.,multiple rounds of telephonic interviews were conducted with radio taxi service providers and driversoperating in India. The total fleet is calculated by adding the fleet size for aggregator business model andowned asset business model. TechSci Research has also maintained a database for vehicle fleet size foreach radio taxi operating company, which is regularly updated through various primary research surveysand secondary sources such as company websites.

Average Running per Day per Taxi (Km)

TechSci Research calculated average distance run by a radio taxi per day by conducting numerousinterviews with radio taxi drivers. As per the data extracted through various primary research surveys,TechSci Research computed an average distance run by a radio taxi per day (in km) using our statisticalmodel.

Average Fare per Km

TechSci Research computed average fare being charged per km by radio taxi operators in India. Averagefare per km varies among different players of the industry. Also, the rate differs, as per the time of thetrip (Peak/Non-peak & Day/Night). TechSci Research conducted interviews with radio taxi drivers tounderstand distance run by a radio taxi in a day and the fare generated at the end of that day. Faregenerated in a day is divided by the distance covered to arrive at average fare/km. Average of the farewas computed after conducting face to face and telephonic interviews with numerous radio taxi drivers.

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Average Fare per Km

Average Fare per Km of a Radio Taxi = Fare Generated by a Radio Taxi per DayDistance Run by a Radio Taxi per Day

R e s e a r c h M e t h o d o l o g y

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Value Market Calculation

Owned Asset Business Model - The basic data points needed for analysis of India radio taxi servicesvalue market are historical, current and forecast figures of active radio taxi fleet size. Active fleetrepresents operational fleet in the total radio taxi fleet of India. TechSci Research conducted exhaustiveprimary research with radio taxi service providers to collect information of average active fleet (AAF). Thecomputed AAF is multiplied with average distance covered by a radio taxi in a day and average fare/km toarrive at the value market for a day. The value market for a day is multiplied with 360 to derive valuemarket for a year.

Aggregator Business Model – TechSci Research conducted exhaustive primary research with radio taxiservice providers to collect information of average active fleet (AAF). The active average fleet forAggregator Business Model is multiplied with average distance covered by a radio taxi in a day andaverage fare/km to arrive at the value market for a day. The value market for a day is multiplied with 360to derive value market for a year. Radio Taxi Service companies charge 20% fee (on an average) fromthe radio taxi owners operating with radio taxi aggregator companies. Hence, 20% of the revenuegenerated is computed in order to arrive at the net revenue of the radio taxi aggregator companies.

Aggregator Model Value Market (2015)

Owned Asset Value Market = (Active Owned Asset Fleet x Average Distance Run by a Radio Taxi inone Day x 30 x12) x 20%

Owned Asset Model Value Market (2015)

Owned Asset Value Market = Active Owned Asset Fleet x Average Distance Run by a Radio Taxi inone Day x 30 x12

India Radio Taxi Services Value Market: Owned Asset Value Market + Aggregator Model Value Market

R e s e a r c h M e t h o d o l o g y

KOL No. of Respondents

Mid to Senior Management, Sales & Marketing Managers, etc., of Radio Taxi Companies

20

Experts from Industry and Associations 5

Radio Taxi Drivers 100

Total 125

Forecasting Technique:

The team developed forecast on the basis of various statistical models such as:

• Time Series Analysis• Econometric and Judgmental Analysis• Moving Average

Moreover, statistical techniques such as averaging and geometric mean were also applied. Duringprimary research interviews, questions regarding historical sales trend of radio taxi services market wereput forward. Respondents were asked about current and future growth rates, market share by vehicletype, mode of payment, and by user category in India. Econometric and judgmental analysis wasexecuted to forecast growth rate for India radio taxi services market.

Sampling Technique:

While conducting the study, TechSci Research followed stratified random sampling technique to shortlistKey Opinion Leaders (KOLs) in various radio taxi companies and drivers operating in India. KOLs basedout of prominent radio taxi companies along with drivers and industry experts were interviewed todetermine the size of India radio taxi services market.

Sample Size:

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I n d u s t r y B r i e f

9

India Radio Taxi Services Market to Grow at a CAGR of over 17% till 2021

Changing lifestyles and convenience benefits to drive demand for radio taxis among Indians...

According to TechSci Research report, “India Radio Taxi Services Market Forecast & Opportunities, 2021”, radio taxiservices market in India is forecast to grow at a CAGR of over 17% during 2016-2021, on account of changing lifestylescoupled with increasing affordability of travellers. Further, rising demand from corporates has been increasing demandfor radio taxi services in the country. Corporates prefer well-maintained, on-time taxi services, which is majorly addressedby organized radio taxi service providers. In Delhi, Mumbai and Bangalore, suburbs are located 25-30 km away fromcommercial markets and corporate hubs. This necessitates frequent use of radio taxi services. Apart from individuals andcorporates, demand for radio taxi services is emanating due to increasing tourist’s footfall as well.

Majority of radio taxi service providers in India operate under aggregator business model. Dramatic growth in radio taxiservices market in India during the last five years can be attributed to rapid increase in fleet size of aggregator radio taxicompanies due to low entry barrier. The rising adoption of aggregator model in India radio taxi service market has yieldedlucrative opportunities for unorganized taxi operators as well. As a result, market share of unorganized radio taxi servicesmarket in the country is expected to decline over the course of next five years. Meru Cabs, Easy Cabs, Mega Cabs, FastTrack Call Taxi, NTL Taxi, etc., are few of the popular radio taxi companies operating under the aggregator and own assetmodels in India radio taxi services market. In 2015, the radio taxi services market in India is largely driven by demandgenerated from metro cities. However, the country has been witnessing increasing demand for radio taxi services acrossTier II and Tier III cities. In 2015, South and West regions of India were the largest demand generators for radio taxiservices in the country, owing to high population density and large radio taxi fleet in these regions.

“Radio taxi services are emerging as an attractive business proposition across India, as a large number of investors havebeen expressing their interest in India radio taxi services market. During 2011-2015, venture capitalists, private equityfirms and angel investors across the globe have made huge investments in this market in the anticipation of lucrativereturns. Consequently, investments in radio taxi services market in India are projected to increase over the course of nextfive years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global managementconsulting firm.

S a m p l e D a t a - S n a p s h o t

100200 300 400 500 600 700 800 900 1,000 1,100

150 300 450600

750 9001,050 1,200

1,350 1,5001,650

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Million) Volume (Thousand Units)

India Radio Taxi Services Market Size, By Value (USD

Million)*, By Volume (Thousand Units), 2011-2021F

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Source:XXXXXNote: These are dummy figures; please purchase our report for actual data

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

South India West India North India East India

India Radio Taxi Services Market Share, By

Region, By Volume, 2015-2021F

India Radio Taxi Services Market Share, By

Region, By Volume, 2015 & 2021F

North

2015: X %2021F: X %

West

South

East

2015: X %2021F: X %

2015: X %2021F: X %

2015: X %2021F: X %

India Owned Asset Radio Taxi Services Market Share, By Company, By

Volume, 2015–2021F

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

25% 25% 25% 25% 25% 25% 25%

15% 15% 15% 15% 15% 15% 15%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Meru Cab Easy Cab Mega Cab Fast Track Call Taxi Others*

India Aggregator Radio Taxi Services Market Share, By

Company, By Volume, 2015–2021F

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

OLA Uber Cabs Meru Cabs Others*

India Radio Taxi Services Market Share, By User

Segment, By Volume*, 2015-2021F

10% 10% 10% 10% 10% 10%

10%

30%30% 30% 30% 30% 30% 30%

60% 60% 60% 60% 60% 60% 60%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Individual Corporate Tourist

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.

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