Industry Analysis & Industry Trends
Intensifying external competition has characterised the Taxi and Limousine Transport industry over the past five years. While industry services are well accepted across most demographics, they are discretionary and easily substituted. Weak discretionary income growth, fluctuating consumer sentiment and high household savings rates over the past five years have suppressed overall demand for taxi services, with consumers flocking to cheaper transport providers. Industry revenue is forecast to rise modestly by an annualised 1.6% over the five years through 2016-17. Over the current year, revenue is forecast to drop by 0.9%, to $5.6 billion, as competitive threats from ride-sharing services increase... purchase to read more
Industry Report - Industry Locations Chapter
Taxi and limousine businesses require a steady supply of customers in order to operate profitably. Due to the substantial cost of licences and the running costs of vehicles, operators require their vehicle to be constantly earning revenue. As a result, the vast majority of business locations are within major cities, with the spread generally following the wider population. Establishments in the industry operate taxis, hold taxi licences, manage booking and call centres for the industry and provide maintenance and other support services.
The more populated states tend to have a greater number of taxis, with larger hubs of commerce and tourism having the highest concentrations... purchase to read more