The Uber taxi service has revolutionized the taxi industry, and Uber is what people do instead of stepping into taxis. In short, Uber has evolved into more than just a company; it is now a verb for getting a cab when you need one.
There is no better way to travel between major metropolitan cities than to take an Uber taxi. The Uber app is estimated to dominate a market that will grow to US$318,765m by 2023, inspiring many other app owners to build clones of the Uber app for their audiences.
Even though it is trendy, the most common question on the minds of travel business owners is: What does it take to build an Uber-like app?
Let’s cut down to the chase and read the blog to know the ins and out of developing an app like Uber.
Overview of Uber’s Business Model and Key Features
Currently worth $68 billion, Uber is the world’s largest ride-sharing app. Its business model is largely responsible for the company’s success, which others have copied.
Drivers and riders pay Uber a percentage of each fare. For smaller companies, this percentage is lower, but for bigger companies, it’s higher. Here’s how each ride costs:
- Uber base fare is what you pay for Uber services based on what kind of car it is and where it is.
- Per mile price
- GPS sensors determine the cost per minute.
- At the time of booking, there’s a booking fee (also called safe ride cost).
Popular statistics of development apps like Uber
There are just a couple of taps required to book an Uber, and you will be picked up from your preferred location at your preferred time and dropped off at your preferred location.
The following is a list of some interesting Uber statistics that will spice up our decision to count on taxi apps like Uber.
- 93 million people use Uber every year.
- The app completes 1.44 billion rides each quarter, and the number keeps increasing.
- A 10.4% CAGR is forecast for the US market by Grand View Research.
- When this decade began, Uber held 68% of the US market. As the decade progresses, this will increase.
- Among Uber’s 5 largest cities, 5 cities contribute 22% of Uber’s gross rideshare bookings.
- With a CAGR of 48.74%, Uber has grown its monthly active user base. As active app users increase, this growth will decrease over time.
How much does it cost to develop an app like Uber?
If you want to develop an Uber app for iOS or Android, you may need to spend between $50,000 and $100,000 for apps with one or two users.
Factors that Affect the Cost of Developing an App like Uber
Here is a brief look at a few factors affecting the price of a mobile app such as Uber regarding its development.
Characteristics
In terms of features, a taxi booking app can be considered either basic or advanced based on how many features it contains. The more features it has, the more efficient it is. Considering that urban travelers rely on utmost convenience, it is necessary to include APIs in the design of services, increasing the overall cost.
Techstack
A mobile app can cost thousands of dollars, depending on the technologies used. Using efficient and advanced technologies is highly recommended when designing and building an application.
Design and development
You must put in more effort to complete a complex application or project. It makes the development of the taxi booking app more expensive, which results in a higher cost. Taxi booking apps require a great deal of planning and development.
Choosing an app development company
Among other factors that influence an app’s development cost, the company’s location, which a client hires, also plays a big role. Choosing the cost of a development company varies on the location.
Keeping up with the latest developments
In cases where changes are being made to an application after it has already been developed, or there is a change in the requirements, the development costs will increase.
Once the prototypes have been created, the service providers and clients hold a meeting to discuss all possible changes that could be implemented should there be any changes required.
Conclusion
Now that you’ve read this blog, you’re familiar with the app development phases and the significant factors that affect the pricing of an app. As a result, you now know how much it costs to develop an app such as Uber.
Having finalized your approach to app development, the next logical step is to choose the best resources for your project related to developing an on-demand taxi service application.
Do you find it challenging to develop a taxi app like uber?
You don’t have to worry, as we at SynergyWorks are at your disposal. We are a renowned application development company with a wide range of experience in developing feature-rich and high-end apps with a great record of generating ROI for businesses across the globe.
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