Today, ride-hailing services became popular among users that’s why Taxi App Development Company becomes a competitive niche in the market. The taxi business is a highly competitive industry and taxi apps made it easier for users to book ride-hailing services with just one tap. Moreover, Uber is dominating 70% of the taxi industry and was the first who launch ride-hailing services in the market. Uber’s taxi app has revolutionized the entire ride-hailing system.
Now people just need to download the taxi app and easily book cab services at their location. The reason for its popularity is the low fare and the convenience it brings. Two apps, Uber and Lyft are some of the famous and advanced taxi-hailing apps that have changed the entire ride-hailing system. In addition, if you already own a taxi business and provide a better solution to your customer as compared to your competitors. You are the next billionaire in the upcoming years.
According to reports, the ride-hailing taxi industry will have a revenue of $327.54 billion within the forecast period ( 2021-2026) and the market is expected to grow at a CAGR of 10.8% during the period 2020-2025.
However, taxi app development is easy when you have an expert team of developers by your side. The advantage of a taxi booking app is to manage all types of your taxi business operations as well as serves smart services to the user.
If you want to develop an app for your taxi business, read the entire blog.
Let’s Go!!
Market overview of taxi booking app
Before we start the development process let’s discuss the revenue in the taxi and ride-hailing segment.
We have already talked about how competitive this industry is so launching a taxi app is not easy, you will face tough competitors. Uber and Lyft are the largest companies in the taxi-booking app sector. Uber is dominating half of the market and Lyft is taking over the rest of the industry.
The global taxi revenue is expected to show an annual growth rate of 5.30% and reach $386 billion by 2026. Moreover, the taxi industry’s annual growth rate at a CAGR to reach 17.4% in 2024.
The above data and details are encouraging enough to start your taxi app development services. Believe us, if you launch your taxi app in the market you can become successful even in a competitive market. So, now is the right time to launch your taxi app in the market.
Step-by-step process to build a taxi booking app
If you are a taxi service provider or transport service company, you want to create a taxi app to expand your business and you have to hire developers. This will save you time, money, and energy if your hire a reliable development partner.
So here is the step-by-step process.
- Market research
Before you start the development process, you have to do market research. It will help you in analyzing the risk factors and competition in the market. Moreover, market research is an essential part it gives you clarity in understanding your audience and market needs.
- Hire a development team and choose the best collaboration model
Now, hire dedicated developer , they will help you in building a strong foundation for the app which is beneficial for the future. So choose the top-rated design and development team, they will deliver quality products and help you with a smooth project flow.
- Develop MVP for taxi app
Now developing an MVP is the best starting point. In this stage, you need to develop a basic version of your app with minimum functionality.
- Choose tech stack for taxi booking app
It’s time to choose a tech stack.
The Tech stack is the set of tools and technologies that help you in the taxi app development process. All you have to consult your development partner to define payment solutions, database, and backend services used to create an app.
- Move to UX/UI
Now, start developing the front end of the taxi app. Ask your UI/UX designers to develop a lucrative front end of the app. Designing is a crucial part of the development process.
However, this design process comes under the category of the front-end development process. In this way, it will enhance user engagement.
- Backend development
After competing for the front end, start the development of the back end of your app. This is the most crucial part of the process. All the work behind the app is done by the expert developer that writes the source of the code.
This is the most time-consuming process all you have to do is maintain good communication with the development side.
- Test
After the development, it is time to test the app in a live environment. This will help in checking your app is bug and error-free.
In short, the taxi app goes through functional and non-functional testing to make it error-free.
- Launch and promote
Finally, let loose your guard it’s time to launch your taxi app on the play store or apple store whichever platform you choose.
After the launch the maintenance services take place.
Cost of developing a taxi app
When it comes to taxi booking app development cost depends on several factors. It’s hard to give the exact amount because factors can fluctuate the cost.
When you have to hire dedicated developer communicate all the important features that you want to include in your app. So that they can make sure to build your app within the budget.
Here are some key factors that directly affect the cost.
- Business types
The cost of developing is lower when it comes to start-ups. They can launch an MVP at a minimum budget.
However, this is not the case with large-scale businesses as they have to create an app that aligns with the business operations.
- Functionalities and Features
The more features and functionalities the more it will become complex and the cost will increase.
- Platform choice
The platform choice is important whether it’s iOS or android it affects the budget. If you choose android as a platform you can hire taxi app developers.
To arrive at this decision the business owner has to look for the platform during the process of market research.
- Tech stack
Choosing the right set of technology is also important when it comes to cost because the tech stack will help you create an advanced taxi app. It will directly affect the cost.
- Geographical location
Geography influences the cost very much. Countries like the UK and the USA have high hourly rates for developers which start around $100- $200. While other Eastern European countries can charge starting from $20-$100.
To know more you can contact a mobile app development company. And you can discuss your budget before the starting process of the development of a taxi app. That helps you in saving your time and cost.
Conclusion
Now you are clear about how developing a taxi app is beneficial for your taxi business. We recommend you hire a mobile app development company so that you can easily launch your taxi app in the market.
Thus with these steps, you can build taxi booking app with the help of the best taxi booking app development company.
