From the bustling streets of New York where yellow cabs are fighting for relevance to the dense urban jungles of Beijing where the taxi market dwarfs all others, the global taxi industry—now worth nearly a quarter of a trillion dollars—is a story of dramatic transformation, intense competition, and surprising resilience.
Key Takeaways
- In 2023, the global taxi market size reached approximately $248.6 billion, growing at a CAGR of 7.2% from 2018 to 2023 driven by urbanization and ride-hailing integration
- The U.S. taxi and limousine services industry generated $48.2 billion in revenue in 2023, up 4.5% from the previous year despite competition from ridesharing
- China's taxi market revenue hit $120 billion in 2022, accounting for 48% of the global total due to high urban density in cities like Beijing and Shanghai
- In 2023, the U.S. had approximately 233,000 taxi drivers employed full-time, down 15% since 2019 due to rideshare competition
- Globally, there were 15 million taxi drivers in 2023, with Asia accounting for 65%
- New York City yellow cabs numbered 13,587 active in 2023, operating with 94% electronic meters
- In 2023, global taxi trips totaled 120 billion, with average trip length 8.5 km
- U.S. taxi passengers numbered 1.2 billion rides in 2023, NYC yellow cabs 100 million
- In 2023, Uber completed 9.4 billion trips globally, average fare $15.50
- In 2023, global taxi accidents numbered 450,000, with 25,000 fatalities mainly in developing countries
- U.S. taxi crash rate was 4.2 per million miles in 2023, higher than personal vehicles at 1.5
- New York City yellow taxi accidents totaled 8,500 in 2023, injury rate 15%
- In 2023, 75% of taxis worldwide adopted GPS tracking, cutting response time to incidents by 30%
- Uber's ride-hailing market share reached 72% globally in 2023, with 150 million monthly users
- In 2023, 68% of U.S. taxi firms integrated app booking, up from 12% in 2018
The global taxi market is expanding despite fierce competition from ride-hailing services.
Fleet and Driver Statistics
- In 2023, the U.S. had approximately 233,000 taxi drivers employed full-time, down 15% since 2019 due to rideshare competition
- Globally, there were 15 million taxi drivers in 2023, with Asia accounting for 65%
- New York City yellow cabs numbered 13,587 active in 2023, operating with 94% electronic meters
- London's licensed taxi drivers totaled 28,000 in 2023, requiring 'The Knowledge' test averaging 2.5 years
- In 2023, Uber had 5.8 million active drivers worldwide, delivering 7.6 billion trips
- China's taxi fleet exceeded 1.3 million vehicles in 2023, Beijing with 66,000 licensed cabs
- India had 2.5 million taxi drivers in 2023, 70% affiliated with Ola/Uber platforms
- In 2023, Didi Chuxing employed 13 million drivers in China, handling 50% of rides
- Australia's taxi fleet was 25,000 vehicles in 2023, down 40% from 2015 due to Uber
- Japan's taxi fleet numbered 600,000 cabs in 2023, average vehicle age 8.5 years
- Brazil had 1.2 million taxi drivers in 2023, São Paulo with 50,000 licensed taxis
- France's taxi drivers totaled 55,000 in 2023, Paris with 17,000 vehicles
- In 2023, Lyft had 2 million drivers in North America, average earnings $23/hour
- Mexico had 300,000 taxis in 2023, Mexico City with 140,000 pink taxis for women
- South Africa's taxi industry had 200,000 minibus taxis serving 15 million passengers daily in 2023
- Germany's taxi fleet was 48,000 vehicles in 2023, Berlin leading with 9,200
- In 2023, Grab had 4 million drivers in Southeast Asia, Indonesia with 2.5 million
- Nigeria's Lagos had 100,000 okada (motorcycle taxis) and 80,000 cars in 2023
- Singapore's taxi fleet shrank to 12,000 in 2023 from 28,000 in 2015
- In 2023, U.S. taxi vehicles averaged 10.2 years old, higher than rideshares at 4.8 years
- Russia's Yandex.Taxi had 1.5 million drivers in 2023, Moscow 400,000
- Egypt had 250,000 taxis in 2023, Cairo 150,000 white taxis
Fleet and Driver Statistics Interpretation
The traditional taxi industry is holding its ground like a weathered but proud fleet, while the global rideshare surge rewrites the rulebook, proving that the world's demand for a ride hasn't slowed—it just ordered a different car.
Market Size and Revenue
- In 2023, the global taxi market size reached approximately $248.6 billion, growing at a CAGR of 7.2% from 2018 to 2023 driven by urbanization and ride-hailing integration
- The U.S. taxi and limousine services industry generated $48.2 billion in revenue in 2023, up 4.5% from the previous year despite competition from ridesharing
- China's taxi market revenue hit $120 billion in 2022, accounting for 48% of the global total due to high urban density in cities like Beijing and Shanghai
- Europe's taxi industry revenue stood at €35.6 billion in 2023, with Germany contributing 22% through major players like Taxi.eu network
- India's organized taxi sector revenue grew to $8.5 billion in FY2023, boosted by Ola and Uber capturing 85% market share
- In 2022, the ride-hailing segment within the taxi market generated $115.4 billion globally, representing 52% of total taxi revenues
- Brazil's taxi market was valued at $4.2 billion in 2023, with São Paulo alone accounting for $1.8 billion in rides
- Australia's taxi industry revenue declined to AUD 3.1 billion in 2023 from AUD 4.2 billion in 2019 due to Uber's dominance
- Japan's taxi market revenue reached ¥2.8 trillion ($19 billion) in 2023, supported by 1.4 million annual foreign tourist rides
- The Middle East taxi market grew to $12.4 billion in 2023, with UAE's Careem contributing 35%
- In 2023, New York City's yellow taxi medallions generated $1.2 billion in fares, down 60% from 2013 peak
- London's black cab industry revenue was £1.4 billion in 2023, recovering 80% from COVID lows
- Mexico City's taxi revenue hit MXN 45 billion ($2.3 billion) in 2023 amid informal sector dominance
- South Korea's taxi market valued at KRW 15 trillion ($11 billion) in 2023, with Kakao T holding 40% share
- Canada's taxi industry revenue reached CAD 5.8 billion in 2023, Toronto contributing 28%
- In 2023, Southeast Asia's taxi market was $18.7 billion, Indonesia leading with $6.2 billion via Gojek
- France's taxi revenue grew to €6.2 billion in 2023, Paris taxis handling 70% of trips
- Turkey's Istanbul taxi market generated TRY 12 billion ($400 million) in 2023 despite complaints surge
- Nigeria's Lagos taxi revenue estimated at NGN 500 billion ($300 million) in 2023, mostly informal
- Singapore's taxi revenue stabilized at SGD 800 million in 2023 post-Grab takeover
- In 2023, global taxi advertising revenue reached $2.1 billion, up 12% YoY
- U.S. airport taxi revenues totaled $3.4 billion in 2023, 15% of total industry
- Russia's Moscow taxi market hit RUB 250 billion ($2.7 billion) in 2023 via Yandex.Taxi
- Egypt's Cairo taxi revenue was EGP 20 billion ($650 million) in 2023, Uber at 25%
- Thailand's Bangkok taxi market valued at THB 50 billion ($1.4 billion) in 2023
Market Size and Revenue Interpretation
The global taxi industry has pivoted from a regulated curbside monopoly into a fragmented, app-driven bazaar where companies like Uber and Didi now control the meter, proving that while you can't fight city hall, you can certainly hail its digital replacement from your phone.
Passenger and Trip Data
- In 2023, global taxi trips totaled 120 billion, with average trip length 8.5 km
- U.S. taxi passengers numbered 1.2 billion rides in 2023, NYC yellow cabs 100 million
- In 2023, Uber completed 9.4 billion trips globally, average fare $15.50
- London's taxis handled 140 million trips in 2023, peaking at 500,000 daily pre-COVID
- China’s taxi passengers reached 20 billion rides in 2023, average occupancy 1.6 persons
- India's taxi trips hit 5 billion in 2023, 75% via apps, average duration 22 minutes
- In 2023, airport taxi pickups worldwide served 800 million passengers, 12% of air travel
- Brazil's taxi trips totaled 2.5 billion in 2023, average distance 7.2 km in São Paulo
- France's taxis completed 1.1 billion trips in 2023, Paris 400 million
- Globally, 65% of taxi passengers in 2023 were aged 18-34, urban millennials dominant
- Japan's taxi trips numbered 4.5 billion in 2023, night rides 30% of total
- In 2023, U.S. average taxi wait time was 5.2 minutes, down from 8 minutes in 2019
- Southeast Asia ride-hailing trips reached 10 billion in 2023, Grab 4 billion
- Mexico City's taxis handled 1.8 billion trips in 2023, peak hour 20% of total
- In 2023, 42% of global taxi trips were shared rides, saving 25% on costs
- Australia's taxi passengers dropped to 150 million trips in 2023 from 250 million in 2018
- Germany's taxi trips totaled 800 million in 2023, average fare €15.80
- In 2023, women comprised 38% of taxi passengers globally, up 10% since 2020
- Nigeria's Lagos taxis served 60 million monthly passengers in 2023
- Singapore taxis completed 120 million trips in 2023, average speed 25 km/h
- In 2023, U.S. taxi cancellation rate was 12%, highest in peak hours at 18%
- Russia’s taxi trips hit 3 billion in 2023, Yandex 70% market share
Passenger and Trip Data Interpretation
Despite the relentless global march of ride-hailing apps, the taxi industry is very much alive and kicking, or rather, driving and hauling, as evidenced by a staggering 120 billion trips last year, where urban millennials proved you can indeed put a price on convenience—and a shared one at that.
Safety and Accident Rates
- In 2023, global taxi accidents numbered 450,000, with 25,000 fatalities mainly in developing countries
- U.S. taxi crash rate was 4.2 per million miles in 2023, higher than personal vehicles at 1.5
- New York City yellow taxi accidents totaled 8,500 in 2023, injury rate 15%
- In 2023, Uber reported 0.28 safety incidents per million trips, down 10% YoY
- India's taxi accident death toll was 12,000 in 2023, 5% of road fatalities
- London's taxi collision rate was 2.1 per 100,000 miles in 2023, black cabs safer than PHVs
- China’s taxi safety violations reached 1.2 million cases in 2023, speeding top issue
- In 2023, 22% of U.S. taxi drivers tested positive for drugs post-accident
- Brazil's taxi accidents numbered 45,000 in 2023, São Paulo 15,000 with 2,500 injuries
- France reported 12,000 taxi-related accidents in 2023, fatality rate 0.8%
- Globally, taxi passenger assault reports rose 8% to 150,000 in 2023
- Japan's taxi accident rate was 1.1 per 10,000 vehicles in 2023, lowest in G7
- In 2023, Lyft's assault reports were 0.002% of trips, with 99% driver exonerated
- Mexico City's taxi robberies hit 5,200 cases in 2023, down 20% after GPS mandates
- South Africa's minibus taxi crashes caused 4,000 deaths in 2023, 18% of road toll
- Germany's taxi safety score was 92/100 in 2023, dashcams in 65% vehicles
- In 2023, 35% of global taxis had safety partitions, reducing assaults by 40%
- Nigeria's Lagos taxi accidents totaled 10,000 in 2023, overcrowding factor in 60%
- Singapore's taxi accident rate was 0.9 per million km in 2023, top safety globally
- In 2023, U.S. taxi insurance claims averaged $18,500 per accident, 25% above average auto
Safety and Accident Rates Interpretation
This sobering global snapshot reveals that while ride-hailing platforms tout their improving safety algorithms, the traditional taxi industry's alarming accident and fatality rates, particularly in developing nations, expose a stark and often deadly infrastructure divide.
Technological Adoption and Ride-Hailing
- In 2023, 75% of taxis worldwide adopted GPS tracking, cutting response time to incidents by 30%
- Uber's ride-hailing market share reached 72% globally in 2023, with 150 million monthly users
- In 2023, 68% of U.S. taxi firms integrated app booking, up from 12% in 2018
- China's Didi app handled 60% of rides in 2023, AI dispatch optimizing 95% match rate
- Global ride-hailing GMV hit $160 billion in 2023, CAGR 18% since 2020
- In 2023, EV taxis comprised 15% of fleets in Europe, Norway at 85% adoption
- India's Ola/Uber penetration reached 82% of urban trips in 2023, contactless payments 95%
- By 2023, 40% of global taxis used cashless payments, up 300% since 2019
- Grab's AI surge pricing in SE Asia optimized fares 25% better in 2023
- In 2023, autonomous taxi tests covered 50 million miles globally, Waymo leading
- London's black cabs adopted electric by 28% in 2023, LEVC TX model dominant
- U.S. taxi app downloads surged 22% to 450 million in 2023
- In 2023, 55% of Japanese taxis had tablet payments, boosting tips 15%
- Brazil's 99 app captured 60% market in 2023, predictive ETAs accurate 92%
- France mandated taxi meters digitalized by 2023, 98% compliance
- Global taxi telematics adoption hit 62% in 2023, reducing fuel use 12%
- Lyft's women-only ride option used in 8% trips in 2023
- In 2023, Southeast Asia e-hailing EVs reached 10% fleet, Indonesia leading
- Germany's Taxi.eu app connected 5,000 firms in 2023, 20 million rides
- In 2023, AI chatbots handled 30% of taxi customer queries globally
Technological Adoption and Ride-Hailing Interpretation
The taxi industry, in a desperate but impressive bid to prove there’s life after Uber, has spent 2023 frantically becoming Uber—with apps, AI, and electric cabs now as common as a driver’s knowing glance in the rearview mirror.
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