What is the Current State of the Best Taxi Apps?
Uber vs. Lyft? which taxi app is the best is always a question that you see everywhere and this post will breakdown the top 10 best taxi apps in the world as of 2020. Before we get to the full list, let’s discover what the current outlook of the ride sharing industry is; figure out how much the market is worth; who are the top players; and where the industry is going. The ride sharing market is projected to grow at a CAGR of 19.87% by 2025, to reach a market size of USD 218 billion by 2025 from USD 61.3 billion in 2018. This incremental growth is driven by the top 10 taxi app companies in the world with Uber leading the way. Uber is the largest taxi app company in the world, dominating with a 71% market share in the market. The 2nd largest taxi app company is Lyft, followed by Curb. We will breakdown in further details who the best taxi app companies are in 2020, as well as relevant stats and trends in the ride sharing industry you must know in 2020.
Read this post and gain insights into the global ride sharing industry including:
- Which taxi app is the best in 2020??
- How much is the ride sharing industry worth?
- What are some ride sharing industry trends and stats you should know in 2020?
Global Ride Sharing Industry Stats and Trends
- How much is the ride-sharing industry worth? The ride-sharing market size will reach 218 billion by 2025. The major drivers of this market include the growing need for personal mobility in the wake of rising urbanization and a decline in car ownership. Additionally, the growth of tech companies is also leading to this stellar growth.
- Uber owns 71% of the market share in the US ride-sharing market — making it the largest ride-sharing company in the world.
- At USD 14.14 billion in revenues, Uber is also the largest ride-sharing company in the world by annual revenues.
- Smartphone penetration into the market is the key to industry businesses’ success.
- A quarter of the US population uses ride-sharing for transport at least once a month.
Top 10 Best Taxi Apps in the World 2020
Which taxi app is the best in 2020? The following is a list of the top 10 best taxi apps ranked by market share, revenue and popularity in its areas of operation.
Which taxi app is the best? By market share, Uber is the best taxi app in the world with over 71% market share in the ride sharing industry. Uber is an American multinational ride-hailing company offering services that include peer-to-peer ridesharing, ride service hailing, food delivery (Uber Eats), and a micro-mobility system with electric bikes and scooters. Uber ranks number 1 on our list of the top 10 best taxi apps in 2020 due to its incredible market share and popularity. With an estimate of 110 million users worldwide, Uber is the largest and most used ridesharing or taxi app in the world. As of 2020, Uber operates in 63 countries and 785 metropolitan areas. In 2013, USA Today named Uber its tech company of the year.
- Founded: 2009
- Uber Headquarters: San Francisco, California, USA
- Uber Revenue: USD 14.14 billion
- Uber Products: Mobile app, website
- Uber Number of Employees: 22,263
- Uber Marketshare: 71%
Lyft is the number 2 ranked company on this list of the top 10 taxi apps. With nearly a 29% market share in the US market, Lyft is only behind Uber in terms of rideshare spending. Lyft is an American ridesharing company based in San Francisco, California, and operates in 644 cities in the United States and 12 cities in Canada. Lyft develops and operates the Lyft app that works at the tap of a button. Lyft is pretty simple to use: users download the app to their smartphone, sign up, enter a valid phone number, and enter a valid form of payment. Once the trip is completed, funds are taken from the funding source.
- Founded: 2012
- Lyft Headquarters: San Francisco, California, USA
- Lyft Revenue: USD 3.61 billion
- Lyft Products: Car rides, Scooters, Mobile App
- Lyft Number of Employees: 4,779
- Lyft Marketshare: 29%
Ranking 3rd on this list of the top 10 best taxi apps is Curb. Formerly known as Verifone Taxi Systems, the company relaunched as Curb and provides a mobile app to hail taxis for a $1.95 fee. The company also provides effortless payment, paratransit, business travel, and advertising that reaches captive audiences of millions. Curb is currently available in 65 American cities and can be downloaded on all popular smartphones through the Play Store or App Store.
- Founded: 2012
- Curb Headquarters: New York, USA
- Curb Revenue: USD 11.2 million
Cabify is a Spanish ridesharing company that ranks 4th on our list of the top 1 best taxi apps in the world in 2020. Cabify provides vehicles for hire via its smartphone mobile app. Cabify operates in Mexico, Chile, Colombia, Peru, Brazil, Panama, Ecuador, Portugal, Spain, Argentina, Dominican Republic, and Uruguay. Cabify operates as the contact point between customers and private drivers by means of its mobile app for Android and iPhone, as well as its web page.
- Founded: 2011
- Cabify Headquarters: Madrid, Spain
- Cabify Revenue: USD 29 million
- Cabify Products: Website, Mobile App
- Cabify Number of Employees: 1,800
Ranking 5th on BizVibe’s list of the top 10 taxi apps is Bolt, an Estonian transportation platform company founded and headquartered in Tallinn, Estonia. Bolt offers ride-hailing, micro-mobility, and food delivery services. Currently, Bolt has over 30 million customers globally and more than 1 million drivers use the platform to offer rides — making it one of the largest and best cab service apps in the world. In 2018, Bolt became the leading ride-hailing platform in Africa.
Bolt operates its app, which enables people to hail rides from their smartphones. The application is available for Android, iOS, Windows Phone, and AppGallery for Huawei phones. Riders can choose their payment method and confirm pick-up and drop off locations all through the app. Bolt operates in 35 countries in Europe, Africa, the Middle East, and North America.
- Founded: 2013
- Bolt Headquarters: Tallinn, Estonia
- Bolt Revenue: USD 90.33 million
- Bolt Products: Mobile App
- Bolt Number of Employees: 1,453
6th on this list of the best taxi apps in the world is Careem, the largest transportation network in Dubai. Careem operates in over 100 cities in 14 countries in the Middle East, Africa, and South Asia. Careem is a subsidiary of American company Uber and offers a mobile app to use its services. Some of the largest countries Careeem operates in are Pakistan, Lebanon, UAE, and more.
- Founded: 2016
- Careem Headquarters: Dubai
- Careem Products: Mobile App
7. Ola Cabs
Ranking 7th on this list of the top 10 taxi apps in the world is Ola Cabs, India’s largest ride-sharing app and India’s version of Uber. Ola operates in over 169+ cities and offers a mobile app and website to use its services. Ola Cabs offers peer-to-peer ridesharing, ride service hailing, taxi and food delivery and is currently based in Bangalore.
- Founded: 2010
- Ola Cabs Headquarters: Bangalore, India
- Ola Cabs Revenue: USD 310 million
- Ola Cabs Products: Mobile app, website
- Ola Cabs Number of Employees: 6,000
China’s version of Uber, DiDi ranks 8th on this list of the top 10 taxi apps in the world in 2020. DiDi is a Chinese transportation company headquartered in Beijing. DiDi offers app-based transportation services, including taxi hailing, private car-hailing, social ride-sharing and bike-sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging and co-development of vehicles with automakers. With over 550 million users and tens of millions of drivers — DiDi is one of the largest and best taxi apps in the world for ridesharing services.
- Founded: 2012
- DiDi Headquarters: Beijing, China
- DiDi Revenue: USD 400.5 million
- DiDi Number of Employees: 11,407
Ranking 9th on this list of the top 10 best taxi apps in the world is Grab, a multinational ride-hailing company based in Queenstown, Singapore. Grab offers transportation services, in addition to food delivery and digital payments services via a mobile app. Grab operates in some of the world’s largest markets including Singapore, Japan, Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Thailand, and Vietnam.
- Founded: 2012
- Grab Headquarters: Jakarta, Indonesia
- Grab Revenue: USD 82.8 million
- Grab Products: Mobile app
- Grab Number of Employees: 6,000
10. Kakao T
Rounding out BizVibe’s list of the top 10 best taxi apps in the world is Kakao T, South Korea’s version of Uber. The service provides taxi-hailing, designated driver booking, nearby parking space searching, and real-time traffic information service and works on both Android and iOS. The payment method is cash, credit/debit card, or one of the many transportation cards used in Korea.
- Founded: 2015
- Kakao T Headquarters: Seoul, South Korea
- Kakao T Products: Mobile app
This is BizVibe’s list of the top 10 best taxi apps in the world in 2020 ranked by market share, revenue, and popularity in its areas of operation. As technology grows and the ownership of cars decline, the need for ride-sharing services are projected to keep growing and leading the way are the top 10 taxi apps on this list.
The Future of the Ride Sharing Industry
The best taxi apps keep innovating with better technology and more efficient services to meet the demand of consumers worldwide. Uber has become the largest taxi app in the world, but this uber-competitive market has seen many enter the race as well. Lyft has been making a name for itself, owning 29% of the market share so far in 2020 and others have started to compete globally.