Scope of Bike Taxis in Ride-Hailing Market

Are you late for your meeting but stuck in traffic? Wouldn’t it be magical if you could reach your destination in half the time and at half the rate? It is possible when you use a bike taxi to commute. If you want the quickest mode of transport and like to bypass traffic, then using a bike taxi is the best choice. These taxis usually cost less than ride-hailing cabs but help you reach your destination in half the time. In the ride-hailing market, many people love to invest in cabs, but they are not aware of the less-explored bike-hailing sector. This article will serve as an eye-opener for those willing to learn about the opportunities and scope for bike taxis in the ride-hailing sector.

Table of Contents

• Understanding the Untapped Bike Taxi Domain
• Why are Bike Taxis increasing in Urban Environments?
• How Bike Taxis Increase the Scope of Your Business in the Ride-Hailing Market?
• Unique Features of the Bike Taxi Apps
• How Much Will It Cost to Develop a Bike Taxi App?
• Conclusion

Understanding the Untapped Bike Taxi Domain

Traveling in traffic is quite challenging, as many people face it every day. It might be tolerable if you are commuting on your normal schedule, but if you want to travel quickly, then it might turn into an unpleasant situation. According to research, it is found that in the United States of America, drivers spend an average of 41 hours in traffic. This outrage has led to the rise of the hot market called Bike Taxis. According to MRFR analysis, the bike taxi market is expected to grow to 44.4 billion USD by 2032.

This market is popular among countries like India, Indonesia, Thailand, and Cambodia. This bike taxi market is taking its first steps in countries like Europe and America.

Why are Bike Taxis increasing in Urban Environments?

Many factors contribute to the growth of bike taxis in urban markets. Some of them are discussed below.

Increasing Urbanization and Traffic

As technology advances, cities become increasingly crowded with people, accompanied by growing urbanization. When the crowd grows, the traffic will grow and vice versa. This will make it difficult for people to commute around in the cab. Bike taxis act as a solution to this problem as they can bypass traffic and reach their destination quickly. Additionally, bike taxis are highly reducing environmental changes as they emit less pollution when compared to cabs.

Increasing Environmental Awareness

The growth of bike taxis depends on another factor called environmental awareness. As people are aware of the pollution caused by cabs, they are looking for an alternative way of commuting. When it comes to traffic and pollution, bike taxis are a much better option and cause zero emissions. In addition to this, the air quality will be improved while using bike taxis. Most countries are becoming aware of environmental impacts and are moving towards a sustainable market.

Government Support

Another factor that influences the growth of the bike taxi market is government support. Improving the quality of air and reducing congestion and pollution are being addressed by the government. To help improve sustainable impact, the government has given subsidies for purchasing bikes and the setup of lanes. The financial support offered by the government has helped the entrepreneurs to enter the business.

How Bike Taxis Increase the Scope of Your Business in the Ride-Hailing Market?

Last-Mile Connectivity

Every day, commuting using public transport seems quite challenging. There is the possibility of poor last-mile connectivity. When your travel destination is short, then you can use bike taxis without a doubt.

Short Commuting Time

Bikes occupy smaller spaces. So, if you are stuck in snail-paced traffic, the bike taxi can easily bypass it without causing damage and help you to reach your destination on time.

Affordable Rides

Bike taxis are affordable when compared to cabs and carpooling. They have better mileage than cars. If you are a daily commuter, then choose a bike taxi, which is an economical ride-hailing service. Besides being budget-friendly, these are the quickest modes of travel.

Reduced Pollution

When compared to traditional taxis, bikes are fuel efficient and emit less CO2. This will be a great help to the environment while reducing carbon impact.

Safer and More Thrilling

Like traditional taxis, bike taxis have certified professionals who have certified professionals to operate them.

Increased Employment Opportunities

Part-time and full-time drivers can partner with bike taxi companies, which can be a great employment opportunity. Drivers can go online or offline and can help in customer engagement and produce huge revenue.

Business Growth

As bike taxis are newer to the ride-hailing market, they exhibit better business opportunities. Since the market remains unexplored, competitors are fewer competitors and there is are high chance of succeeding in the business. If you start the business today, you could become a pioneer of the market in the years to come.

Unique Features of the Bike Taxi Apps

User App Features

Simple Sign Up and Login

The user can integrate their social media account and sign up. Using that, they can log in later.

Pickup Point and Time

The rider can specify a specific pickup point and schedule it for later pickup. This will improve rider convenience.

Charge Estimator

Costing will be transparently calculated using the app. The bike taxi booking app has an inbuilt cost estimator.

Instant Booking

From the available locations, choose your desired destination, and then the app calculates the fare and helps the rider know the exact arrival time and total travel time.

Immediate Alerts

The user will immediately receive a notification right after the booking, the driver’s arrival time, and the ride status.

Reviews and Ratings

The users can share their feedback in this section.

Driver App Features

Availability Toggle

The driver can toggle between online and offline based on their convenience and availability.

History

The history tab will showcase the track record of the ride to the bike owner on this Driver app.

Navigation

Using GPS technology, the shortest route can be calculated, and the driver will take you to the destination more quickly.

In-App Calling

In case of unpleasant situations or confusion, the driver and the rider can communicate using this feature.

Admin App Overview

Administer Drivers

Using this feature admin can add or remove the bike owner details that are currently active.

Ad-Incorporation

The admin can integrate and maintain ads to increase revenue on the AI-powered Admin panel.

Offers and Discounts

Potential customers can be attracted using offers and discounts.

Review Management

To make a better riding experience, the admin can combine all the reviews and make decisions.

How Much Will It Cost to Develop a Bike Taxi App?

There is no fixed cost when it comes to development; it might fluctuate based on the features, integrations, and functionality inclusion. On average, the bike taxi booking app will cost between 3000 USD to 5000 USD. When you are increasing the complexity of the app then the cost will increase. Developing platforms like Android and iOS is expensive. The location and the design also contribute to the cost of development. Based on many factors and the technology used, the development cost will keep on fluctuating.