All hail: Demand from individual consumers and corporate clients will drive revenue

The Taxi and Limousine Services industry, which provides a range of nonregular transportation services through vehicles such as taxicabs, limousines and luxury sedans, has experienced substantial growth over the past five years. In recent years, rising consumer spending and increased corporate profit have sparked demand for taxis and limousines. Moreover, the proliferation of ride-sharing applications, such as Uber and Lyft, has enabled a wave of nonemploying operators to enter the market, bolstering industry growth. Over the next five years, consumer spending and travel activity will continue to rise, generating steady demand for industry services...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The proliferation of ride-sharing technologies will continue to fuel the entry of new nonemploying operators
  • The introduction of Uber and Lyft has enabled passengers to order a car at any time
  • The luxury sedan and limousine segments are expected to support revenue growth
  • Industry Report - Industry Key Buyers Chapter

    The Taxi and Limousine Services industry is characterized by a very low level of market share concentration, with the industry's four largest players accounting for less than 5.0% of total industry revenue in 2018. The industry is also highly fragmented, as the vast majority of industry operators are self-employed. In fact, following a recent surge in industry nonemployers as a result of the proliferation of e-hailing technology, nonemploying entities accounted for an estimated 98.8% of total industry establishments in 2016, according to the latest data from the US Census Bureau. As a result, few operators are able to dominate the market by achieving significant economies of scale, and no single company generates more than 1.0% of total industry revenue. Thi...purchase to read more.

    Additional Insights for the Taxi & Limousine Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Taxi & Limousine Services Industry are

  • Flexibility in operations
  • Must comply with government regulations
  • Ability to pass on cost increases
  • IBISWorld analysts also discuss how external factors such as Percentage of services conducted online and Consumer spending in the Taxi & Limousine Services industry impact industry performance..

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    What's in this report

    What is the Taxi & Limousine Services Industry?

    Companies in this industry provide passenger transportation via taxis, sedans, limousines and other automobiles. Taxi services are not operated on regular schedules or routes, and limousine services are rented or hired with a driver. This industry also includes limousine and hearse rentals for funeral services. However, specialized shuttle services that transport passengers to or from hotels and airports are not included in this industry.

    Industry Products
  • Taxi and taxi leasing services
  • Stretch limousine services
  • Luxury and corporate sedan services
  • Hearse rentals and other funeral services
  • SUV, large van and other services
  • Industry Activities
  • Providing limousine services
  • Providing luxury sedan services
  • Providing chauffer and personal driver services
  • Providing corporate sedan services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Percentage of services conducted online
  • Consumer spending
  • Domestic trips by US residents
  • Corporate profit
  • Federal funding for transportation

  • Current Performance
  • Strong downstream demand
  • Technology-driven change
  • Fuel and wage costs
  • Chart: Revenue Growth

  • Industry Outlook
  • Changing technology
  • Increased demand
  • Profit and participation
  • Table: Taxi & Limousine Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Taxi & Limousine Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Sports Franchises
  • Racing & Individual Sports
  • Non-Hotel Casinos
  • Hotels & Motels
  • Consumers

  • Key Selling Industries
  • Auto Mechanics
  • Automobile Wholesaling
  • Car Body Shops
  • Gas Stations
  • Used Car Parts Wholesaling

  • Products & Services
  • Taxi and taxi leasing services
  • Luxury and corporate sedan services
  • Stretch limousine services
  • SUV, large van and other services
  • Hearse rentals and other funeral services
  • Chart: Taxi & Limousine Services Industry Products and Services Segmentation

  • Demand Determinants
  • Income
  • Business travel
  • Availability of substitutes
  • Accessibility

  • Major Markets
  • Individual consumers earning more than $100,000 per year
  • Corporate customers
  • Individual consumers earning between $50,000 and $100,000 per year
  • Individual consumers earning between $10,000 and $50,000 per year
  • Individual consumers earning less than $10,000 per year
  • Chart: Major Market Segmentation for the Taxi & Limousine Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and utilities
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Taxi & Limousine Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Taxi & Limousine Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Taxi & Limousine Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Taxi & Limousine Services Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Percentage of services conducted online (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Limo Bus
  • A larger, longer and more expensive version of a regular limousine.
  • Medallion
  • An emblem of registration for a taxicab.
  • Stretch Limousine
  • A luxury passenger vehicle with an elongated wheel base.
  • Town Car
  • A luxury corporate sedan used by operators in the limousine market.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Taxi & Limousine Services provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Taxi & Limousine Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Taxi & Limousine Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Taxi & Limousine Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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