Market trends of Ola and Uber during Coronavirus Outbreak
Technology 160

Market trends of Ola and Uber during Coronavirus Outbreak

Market trends of Ola and Uber during Coronavirus Outbreak

Taxi-hailing apps are extensively used across the globe for commuting. There are many perks to using taxi-hailing services. For instance, users can get the cab within minutes of booking, the fare is reasonable, cab sharing facilities are available, and many more.
Many entrepreneurs aspire to develop the Ola clone script after seeing the taxi-hailing applications’ trends. The development of the Ola clone has several stages, like resource gathering, prototype modeling, developing, testing, and launch. Even after the launch of the app, the promotion as to be done so that users are familiar with the app. Before starting with the development process, it would be wise to understand the current market trends of popular applications like Ola and Uber. Here are some of the market analysis of taxi booking apps

Stats of taxi-hailing applications like Ola and Uber

  • Uber revenue in 2018 is estimated to be $11.3 billion, which was a 43% increase compared to 2017.
  • Currently, Uber is spread across 75 million passengers, who are served by a total of 3.9 million drivers.
  • Uber’s biggest market is in the US, with 41.8 million users as of March 2018.
  • The second-biggest Uber market is in Brazil, in which 17 million were using the app in March 2018. London, UK, is the biggest European Uber market, with 3.5 million users. In India, there were reportedly over 5 million weekly active riders as of August 2017.
  • As of January 2019, 462,113 Uber rides and 149,142 Lyft rides took place per day.
  • Ola has 200 million customers as of February and 2.5 million driver-partners across the globe.
  • On average, Ola gets 1.5 million trips per day globally.

Impact on the market of taxi-hailing apps after Coronavirus pandemic

  • Uber shares fell by 12% in mid-march due to the lack of customers. Employees are using their vehicles to travel rather than using these taxi-hailing services.
  • The survey results show that people are avoiding taxi booking apps for two reasons: the first is because they are afraid that they might contract the deadly virus by opting for cab services. The second is that taxi availability has reduced since the outbreak.
  • The many taxi drivers have moved to their native place after the spread of the fatal virus.

Conclusion:

The Ola clone app development has anticipated the decline in the market for an online taxi booking sector. It has come up with a new set of advanced features as a precautionary measure to protect its customers and employees. Some of the features are coronavirus trackers, Face mask verification scanners, guidelines are given by the WHO tab, and many more. Aspiring entrepreneurs can get an Ola clone app with all the necessary features from reputed app development companies.

You must be logged in to post a comment Login

Leave a Reply

Technology 160

I work in a leading taxi app development company AppDupe located in the US. We are mainly into the cloning of mobile apps and this area has intrigued my interest to explore it further.