Industry Analysis & Industry Trends
Stagnant revenue growth and heavy regulation have 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 demand for taxi services, with consumers flocking to cheaper public transport providers. Industry revenue is forecast to rise modestly, by an annualised 0.4% over the five years through 2014-15. Over the current year, revenue is forecast to improve by 1.6%, to $5.5 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the mature phase of its economic life cycle. Industry value added, which measures the industry's contribution to the overall economy, is forecast to grow at a compound annual rate of 1.4% over the 10 years through 2019-20. This growth is lower than the rate of Australian GDP growth over the same period, which is forecast to grow at a compound annual rate of 2.7%. This indicates that the industry is growing at a slower rate than the overall economy, which is characteristic of a mature industry.
Over the period, industry services have remained generally unchanged. Differentiation in services does exist in smaller segments, such as prestige services, wheelchair-accessible taxis and limousines and wedding cars... purchase to read more