Industry Analysis & Industry Trends
The Taxi and Limousine Services industry has coasted on clear roads during the past five years. The economy's return to health has directly benefited the industry as business expense accounts have grown and consumers have been more willing to spend on small luxuries such as taxi and limousine rides. Moreover, increased demand from corporate travelers, tourists and private households is expected to result in the continued recovery of the industry over the next five years. However, the volatile nature of fuel prices remain a threat to the industry... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Taxi and Limousine Services industry is in the mature stage of its life cycle. Industry value added (IVA), which measures the industry's contribution to GDP, is expected to grow at an average annual rate of 2.4% in the 10 years to 2021. During that same period, GDP is estimated to increase 2.3% per year on average. Industry demand is typically influenced by disposable income levels corporate profit and domestic trips by US residents. All of these factors have improved since 2011, enabling the industry's IVA's growth to remain in the positive.
In major metropolitan areas taxis are a common form of transportation and there is a market acceptance of the industry's services. However, license quotas and slow population growth rates have limited industry growth... purchase to read more