Industry Analysis & Industry Trends
Increased consumer spending and impressive growth in corporate profit over the past five years have helped the Taxi and Limousine Services industry out of a rough patch. The industry is highly reliant on discretionary spending, and when the economy faltered during the recession, demand for nonessential segments of the industry, such as luxury limousine and town car services fell heavily, as many consumers traded down to relatively less-expensive taxi services. In the coming years, the industry's structure is not expected to fundamentally change, however, technological innovations will facilitate connectivity between drivers and customers, potentially helping profit margins... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Taxi and Limousine Services industry is highly fragmented, owing to the large number of small-to-medium sized businesses in operation. The industry is further fragmented due to the large number of self-employed drivers and independent contractors, which account for over 60.0% of the primary revenue earned in the industry (the remainder of revenue is earned directly by companies that own fleets). The two largest companies are estimated to account for about 7.0% of total industry revenue, providing the industry with a low level of market share concentration.
Due to the regional nature of the industry it is difficult for any one operator to command a significant percentage of market share... purchase to read more