The development of mobile applications has revolutionized many aspects of modern life by allowing us to access information and services wherever and whenever we wish via cutting-edge tools, which have revolutionized many aspects of our daily lives.
As the need for taxi applications in the world is growing, on-demand taxi app development has become significantly stronger in recent years due to the fact that the demand is increasing.
With its cutting-edge interfaces and user-friendly features, on-demand taxi apps like Careem set new standards for the taxi industry.
If you are intrigued by the rich earning potential of the taxi booking industry and desire to build an app similar to Careem, this blog is for you. Read on.
Careem’s Business Model
According to the report published by Statista, the market for mobile applications is expected to generate revenues totaling $600 billion in the year 2023. The revenue generated by ride-sharing apps will reach $314.20 billion. To succeed, Careem needs a solid business model.
There’s a perfect model for the app in the categories below.
1. Captain App
To be a driver in a taxi app such as Careem, one must download the Captain app on their smartphone. Then he can accept trips as a driver. For the driver to make money, he needs to go through training.
2. Passenger App
An app for passengers is designed to serve the needs of the customers who use the app. In the Careem app, you have to register. Registering is flexible, and it’s also a lot easier with the interactive UI. To confirm, tap “YALLA.”
3. Admin Dashboard
The business model of the Careem app relies heavily on this service, which is an essential part of its business model. Fare setup, tracking rides, and bookings are all in the hands of the admin.
Statistical Facts You Should Know
People no longer book their rides over the telephone with traditional taxi services. In recent years, most people have been using apps such as Careem, a one-stop solution for on-demand transportation.
Here are some statistics that you would be amazed to know it –
- 2023 will see USD 500,384 in taxi segment revenues.
- With a CAGR of 11.02%, USD 392,580 million is forecast to be reached by 2025.
- A total of 1635.3 million users are expected by 2025.
- In 120 cities around 14 countries, the Careem taxi app has 30 million users
- Careem employs around 1 million drivers.
Cost of developing an app like Careem
To know the exact cost of developing an app like Careem, please contact our team to get a free quote according to your requirements. It is just a rough estimate of how much it would cost to develop an app on one platform from the ground up from a native perspective.
Conclusion
On-demand taxi booking is an area that holds a bright future, and there are huge potential opportunities for growth and for the generation of high revenues in the future, thanks to the potential of this sector. Therefore, offering mobile app development services is good to meet market demand.
Interested in developing an app like Careem for on-demand taxis? Contact SynergyWorks, a world-class application development company with decades of experience building robust taxi apps.
Our development team’s major goal is to build robust software applications that provide you with the maximum ROI for your business over the long run.
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