Uber, a transportation network company based in San Francisco has revolutionized the transportation of people. Set up 9 years ago, the company has grown impressively and now operates in about 632 cities across 78 countries. Having 75 million active users, Uber manages 15 million rides daily. The company expects by 2021, around 539.49 million users will use its taxi services.

The tremendous success of Uber can be attributed to its simple and unique business model and its ability to offer an easy cab booking experience to customers with diverse transportation needs. Uber’s location based cab and ride sharing app offers useful features for the passengers like pick up and destination address, taxi arrival estimated time, real-time cab tracking, automated e-receipts, SOS, driver details, ratings and reviews and multiple payment options. Similarly, its app offers various useful features for the drivers and admin.

Apart from Uber; Ola, Lyft and GrabTaxi are the other transportation service providing companies that are successfully offering affordable and easy to book transportation solutions to their customers through their cab and ride sharing app.

Though big players like Uber, Ola and others have already captured a significant portion of the cab and ride sharing market, still there is a scope left for the new businesses wanting to venture into this market. This is because the number of users desiring to use the cab hailing apps for their transportation needs is rising.

Apart from taxi apps, there can be many more business ideas around this business model which include:

There are numerous business models which are still untouched and can be launched based on a ride sharing app.

Millennials form a majority of such users who are well versed in using mobile phones and want affordable cab services for their transportation needs as they do not have enough money to buy a car of their own. Apart from these users, there are others who in spite of having their own car, want to utilize ride-hailing apps for travelling to the airport, attending key business events or private parties, etc. This would help them avoid the hassle of driving their car and parking it. Still, there are users who want to share a ride with other users in their area for paying a reduced fare.

But for the success of their new cab and ride sharing business, entrepreneurs need to have a unique, simple and scalable business model that can adapt to the changing market needs. Also, they should have a user friendly taxi app that has all the useful features for their customers to allow them to easily book a cab. The app should also have the essential features for their drivers and for the proper and effective management of their business.

If you too want to get built such an app for your new cab business, you can bank upon Matrid Technologies, a leading and established mobile application development company in India. Its expert and creative app developers are capable of transforming your unique business idea into a high quality and easy to operate cab and ride sharing app that will play a key role in your business’s growth and success.

Description: In spite of big players like Uber, Ola and Lyft capturing a significant portion of the cab and ride-sharing market, there is still scope left for new businesses wanting to venture into this field. For their business’s success, they need to have a unique business model. Also, they need to get built a user friendly ride sharing app from an established mobile application development company in Chandigarh like Matrid Technologies.