SlideShare una empresa de Scribd logo
1 de 8
Descargar para leer sin conexión
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
Cab-sharing / Taxi-sharing is the next innovation in Taxi Industry.. 
The world's population is growing and so is the demand for resources. However as the resources are limited, there is greater pressure on existing resources. The world is looking for innovative solutions to address these challenges by building "Sharing Economy", where people are looking to share their assets with others for charge. There has been emergence of some big brands such as AirBnB (Sharing House), Uber (Sharing Rides), ZipCar (Sharing Cars), TaskRabbit (Sharing Services) and many more... In the transportation space the new buzzword is Cab or Taxi-sharing. 
Mobility is one of key challenges faced by cities around the world. There is a lot of interest in the transportation industry to provide new options for the city dwellers and new ways of reducing costs. As cities become more crowded and polluted, the idea of car sharing is catching around the world. Cab-sharing means sharing your cab or taxi with other passengers (mainly strangers) who are heading in same direction. 
Shared taxi services is not new and is already practiced informally in developing countries; drivers while taking one passenger towards the destination, take in other passengers also who are going towards the same direction . In an organized scenario while fare-splitting with friends isn't new, matching up total strangers who pay their share is. The idea of Cab-sharing is gaining more popularity after the advent of Taxi-service mobile applications around the world. With new technology features, the passenger can show his/her willingness to share a ride with another passenger. 
Benefits of Taxi Sharing - New York City 
Taxi service is one of the important components of urban transportation and plays a vital role to provide mobility. However, Taxis are also a major contributor to traffic congestion and air pollution. 
A recent study shows that the negative impact of taxi on the city can be reduced by sharing taxi. The study was conducted by the Senseable City Laboratory (SCL) at the Massachusetts Institute of Technology (MIT). Researchers from MIT, Cornell, and the Italian National Research Council’s Institute for Informatics and Telematics applied a series of algorithms to calculate the benefits of sharing a cab using origin-destination data of all 172 million trips with passengers of all 13,586 taxicabs (medallion) in New York during the calendar year of 2011. 
The location information was collected via Global Positioning System (GPS) technology by the data provider. The study has highlighted 3 important things: 
 New York’s taxi system could benefit greatly by incorporating sharing into its system. 
 With just a delay of 5 minutes per trip, almost 95% of the trips could have been shared in New York.
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
 If travellers adopt taxi-sharing model then cumulative trip length can be cut by 40% and total travel time can be reduced by upto 30%, leading to reduction in traffic, operational costs and carbon dioxide emissions. 
While New York City offers ample opportunities for trip sharing with minimal passenger discomfort, as it does not require to re-routing the sharing trips, It is difficult to ascertain that a mathematical framework can analyze the systematic understanding of the trade- off between collective benefits of sharing and individual passenger discomfort. It is too early to say that Cab-sharing can drastically reduce traffic, fares, and carbon dioxide emissions. 
Key Players 
Some of key Cab-sharing players are: 
UberPool (www.uber.com) 
(Image: www.memeburn.com) 
Uber has recently introduced a feature - called UberPool, in its app to allow ridesharing with other passengers in San Francisco. It exists alongside other tabs in the Uber app and allows users to save up to 40% of the cost of a shared ride. UberPool is a new product that allows Uber passengers to select to share their ride with others who are taking the same route and lower the overall cost of the ride. With UberPool, the passenger can share a ride and split the cost with another person who just happens to be requesting a ride along a similar route. UberPool works like the regular Uber service, except it pairs users up with another rider, and notifies them of their co-rider's first name. If it can’t find a match, Uber will offer you a discount on a traditional Uber ride. Uber has largely relied on one-to-one customer interactions. By bundling riders into similar rides, Uber can be more efficient, save customers money and even help drivers earn more revenue per hour. Uber aims to revolutionize P2P market and wants to be cost- competitive than owing a car, a game-changer in transportation industry.
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
LyftLine (www.lyft.com/line) 
According to Lyft data, the company observed that 90% of rides have someone else taking the same trip within five minutes. This provides a huge opportunity to club these rides together. Lyft launched the new service - Lyft Line, which allows users to split fares when they are going in the same direction. The passengers can save an average of 30- 60% percent depending on the ride. In case, the app is not able to find another passenger to share the ride, the discount will only be about 10%. Lyft Line was built with help from the team behind Rover that tried to bring together multiple transportation options - walking, biking, taking public transportation, and even new ride-hailing apps that were on the market. 
Shared Rides by SideCar (www.sidecar.cr)
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
(Image: articles.chicagotribune.com) 
SideCar has built a real-time ridesharing community that connects drivers with spare seats in their car to passengers who need instant rides across the city. The company launched 'Shared Rides' initiative in San Francisco, which allow customers to split the fare of their trips by getting matched with other nearby riders heading in the same direction who then share the car and the price of the ride with passengers. SideCar has matched around 1,000 shared rides in San Francisco per week. The company has recently received a funding of $15 million and is planning to use the fund to grow the service by expanding it locally and “beyond,” with the goal of hitting 500,000 rides in one year. 
Bandwagon (www.bandwagon.io) 
(Image: www.latimes.com) 
Bandwagon, founded in 2013, is funded in part by the Urban Future Lab. The company is offering ride-sharing service to users. The users need to mark origin and destination point on the map and the app matches up with ride partners and pay a calculated split fare on their smartphone. The company has even created "priority zones" for its users in places with long wait lines for cabs or car services. The ride sharing can only be successful if there are large numbers of users. In order to expand its network, the company entered into partnership with Hailo, taxi-hailing app, to offer ride-sharing service for cabs and licensed car services. The service is initially launched in New York and the users can book the cab using Bandwagon app, which instantly connects to Hailo to dispatch a yellow cab or licensed private car. The company claims to save upto 65% of the cost of a normal ride.
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
Hitch Rides (www.hitchrides.com) 
(Image: www.techcrunch.com) 
Hitch Rides is based in San Francisco and is providing a unique service by offering a ride-sharing service at limited times of day. It uses algorithm to maximize the number of passengers in a single car to increase driver utilization and reduce prices for riders. The users need to tell the number of seats required so that it can search the matching option. The application allows passengers who are sharing a ride to learn more about one another by showing each other’s mutual Facebook friends and likes to give them something to talk about. The company has been recently acquired by Lyft and its founders (Snir Kodesh and Noam Szpiro) will be working to bring some of what they had built into the Lyft Line product. For ride-sharing service, it is important to have a critical mass of passengers when trying to match up multiple users for a shared ride. 
Zimride (www.zimride.com)
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
Zimride, founded in 2011, has created a carpooling platform for students and staff through college community network or corporate community using social networks. It allows user to create a profile, and book or post a ride. Also the users can mention their interests, music tastes, and feedback about the ride. to help users find others who were going in the same direction to share rides. The users receive / make payouts via PayPal. The payment is made one day after the ride is complete. About 80% of seats in cars go unused at any given time and Zimride tries to increase the occupancy rate of vehicles on the road. But the platform at that point was mostly used for long-haul trips. 
Maaxi (www.maaxitaxi.com) 
Maaxi, started in 2012, is trying to make traditional London black cabs cheaper than public transport by grouping passengers with similar destinations. The App offers black cabs only in shared and normal fare format. The application is designed to match up to five strangers travelling in the same direction, so that they can share a ride and split the bill. Alternatively, users can opt to ride solo when they make their booking. The company is backed by Nathaniel Rothschild and has support of the Licensed Taxi Drivers Association. The application charges each person less than the meter fare but overall gets more. It is interesting to understand that how the application charges the user. The application calculates fares according to the distance and time the person spends in the taxi, i.e. if five people share a trip then it split the fare for that portion in five, and if in a subsequent shared journey only four are sitting in the taxi, the fare is shared by four. Another interesting feature of the application is that it integrates with Transport for London (TfL) and National Rail's timetables to allow travellers to co-ordinate the "last mile" of their journeys. 
Cab Corner (www.Cabcorner.com) 
Cab Corner, founded in 2008, is a cab-sharing platform which connects the users going in the same direction around the same time. The application allows user to split the fare
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
and make taxi travel more affordable to a wider segment of the population. The company also acquired CabEasy to consolidate its position. The company uses sponsored retail stores, called 'HotSpots', throughout the city to help match riders. These HotSpots are used as key points for users seeking to share a cab ride. 
Gobi Cab (www.GobiCab.com) 
GobiCab is an iPhone app that allows users to share a cab. It allows users to decide when/where users wish to share a cab and the application matches them with others looking to do the same. The application was founded by Aleem Mawani. The user needs to enter his origin and destination. The application allows users to browse potential matches and even chat with them directly through the app. It also suggests events or big venues currently near you and/or your destination. The application does not seem to attract lots of users till date 
The other new applications are: 
- Taxi2 (www.Taxi.to): The application allows users to recognise other travellers who are interested in saving half the cost of their taxi ride from the airport to their final destination. 
- SplitMyTaxi (www.splitmytaxi.com): It is currently offering beta version and invites member to register this service. 
- Cab Match (www.CabMatch.com): It has built a community of people who wish to carpool to work, cab share around the city, or cab share to the airport. 
- ShareFareCab (www.sharefarecab.com): It enables user to recognize other travellers who are interested in saving half the cost of their taxi ride from the Airport/Railway Station to their final destination. 
Benefits 
Some of the key benefits of Cab-sharing are: 
Environment Friendly: Cab-sharing can definitely reduce the emission by taxi travel as it will combine multiple trips and fill the unused seats in the taxi. It is projected that 7,000 kg of carbon emissions could have been eliminated by combining the taxi trips in New York. 
Less Congestion: The easiest way to reduce the congestion on the street is to reduce the number of vehicles on the road. The requirement of number of cabs or private vehicles will go down if commuters share cabs. 
Reduce Car Ownership: Cab-sharing could potentially make owning a car and commuting by oneself obsolete. The cost of ride will drastically reduce and making it more competitive than owning a car.
Valoriser Consultants 
Tel: +91-11-25546049 | Mobile: +91-9958835533 
Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com 
© 2014 Valoriser Consultants Publication 
Save Cost: Cab-sharing can be good for commuters who want to save money on each trip and are happy to share a ride. However, it is important that the users are not time- constrained in getting where they need to be. 
Extra Revenue: Cab-sharing not only saves money for the customers but also provides increased revenues for drivers. 
Key Issues 
While there are lots of benefits to share cab rides. It is important to address the issues related to cab-sharing service. Some of key issues are highlighted below: 
Time: Time is a key factor for every person and everyone prefer to get picked up and dropped at their desired point. Time optimization is really important and can be done best by people sharing a cab if they have the same destinations and nearby pickup locations. 
Safety: Safety is one of the important issues as the passenger would share a ride with strangers. Hence it is important to build a community where users need to sign up first and the identities are verified. All taxis can be equipped with cameras, which can provide a certain base safety for the driver and the customers. 
Regulation: Cab-sharing service is facing legal challenges from the regulatory authorities. In the existing format, Taxi can be hired by the commuters at a prescribed rate. As per law, Taxi can not operate as 'Stage Carriage Transportation', i.e. picking passengers on the route and can charge passengers individually when carrying multiple people in one vehicle. 
Trusted Network: For the success of cab-sharing service, it is important that there should be a critical mass of sharers in the network. It is difficult for new startup to launch an application from the scratch and struggle to gain traction quickly. It is easier for the existing cab companies to offer cab-sharing services to its existing network. This makes ride-sharing services cheaper compared to regular taxi service.

Más contenido relacionado

Destacado

Mobile Trends in Mobility Apps
Mobile Trends in Mobility AppsMobile Trends in Mobility Apps
Mobile Trends in Mobility AppsPieter Baert
 
Smart and Connected Transport - A Case Study of Delhi
Smart and Connected Transport - A Case Study of DelhiSmart and Connected Transport - A Case Study of Delhi
Smart and Connected Transport - A Case Study of DelhiJaspal Singh
 
Uber Analytics Test
Uber Analytics TestUber Analytics Test
Uber Analytics TestCoursetake
 
On-demand Transport Technology Companies around the World - Top 30 Players
On-demand Transport Technology Companies around the World - Top 30 PlayersOn-demand Transport Technology Companies around the World - Top 30 Players
On-demand Transport Technology Companies around the World - Top 30 PlayersValoriser Consultants
 

Destacado (7)

UberTest Quick Guide
UberTest Quick GuideUberTest Quick Guide
UberTest Quick Guide
 
Mobile Trends in Mobility Apps
Mobile Trends in Mobility AppsMobile Trends in Mobility Apps
Mobile Trends in Mobility Apps
 
Uber PR Campaign 2014
Uber PR Campaign 2014Uber PR Campaign 2014
Uber PR Campaign 2014
 
Smart and Connected Transport - A Case Study of Delhi
Smart and Connected Transport - A Case Study of DelhiSmart and Connected Transport - A Case Study of Delhi
Smart and Connected Transport - A Case Study of Delhi
 
Uber Analytics Test
Uber Analytics TestUber Analytics Test
Uber Analytics Test
 
On-demand Transport Technology Companies around the World - Top 30 Players
On-demand Transport Technology Companies around the World - Top 30 PlayersOn-demand Transport Technology Companies around the World - Top 30 Players
On-demand Transport Technology Companies around the World - Top 30 Players
 
Uber's Business Model
Uber's Business ModelUber's Business Model
Uber's Business Model
 

Más de Valoriser Consultants

Bike Taxi in India - Future Opportunity
Bike Taxi in India - Future Opportunity Bike Taxi in India - Future Opportunity
Bike Taxi in India - Future Opportunity Valoriser Consultants
 
Outsourcing Bus Operations - How to make it Financially Sustainable
Outsourcing Bus Operations - How to make it Financially SustainableOutsourcing Bus Operations - How to make it Financially Sustainable
Outsourcing Bus Operations - How to make it Financially SustainableValoriser Consultants
 
Integrated Transport Services - Cashless Transactions / Smart Card
Integrated Transport Services - Cashless Transactions / Smart CardIntegrated Transport Services - Cashless Transactions / Smart Card
Integrated Transport Services - Cashless Transactions / Smart CardValoriser Consultants
 
Uber Taxi Service in India - Voice of Customer (VoC)
Uber Taxi Service in India - Voice of Customer (VoC)Uber Taxi Service in India - Voice of Customer (VoC)
Uber Taxi Service in India - Voice of Customer (VoC)Valoriser Consultants
 
Impact of Indian Politics on Transportation Sector in India
Impact of Indian Politics on Transportation Sector in IndiaImpact of Indian Politics on Transportation Sector in India
Impact of Indian Politics on Transportation Sector in IndiaValoriser Consultants
 
Corportization of private stage carriage scheme
Corportization of private stage carriage schemeCorportization of private stage carriage scheme
Corportization of private stage carriage schemeValoriser Consultants
 
Urban Transportation Market in India
Urban Transportation Market in IndiaUrban Transportation Market in India
Urban Transportation Market in IndiaValoriser Consultants
 

Más de Valoriser Consultants (10)

Bus Transit Market in Canada
Bus Transit Market in CanadaBus Transit Market in Canada
Bus Transit Market in Canada
 
Bike Taxi in India - Future Opportunity
Bike Taxi in India - Future Opportunity Bike Taxi in India - Future Opportunity
Bike Taxi in India - Future Opportunity
 
Outsourcing Bus Operations - How to make it Financially Sustainable
Outsourcing Bus Operations - How to make it Financially SustainableOutsourcing Bus Operations - How to make it Financially Sustainable
Outsourcing Bus Operations - How to make it Financially Sustainable
 
Taxi Permit Structure in Delhi
Taxi Permit Structure in DelhiTaxi Permit Structure in Delhi
Taxi Permit Structure in Delhi
 
Integrated Transport Services - Cashless Transactions / Smart Card
Integrated Transport Services - Cashless Transactions / Smart CardIntegrated Transport Services - Cashless Transactions / Smart Card
Integrated Transport Services - Cashless Transactions / Smart Card
 
Uber Taxi Service in India - Voice of Customer (VoC)
Uber Taxi Service in India - Voice of Customer (VoC)Uber Taxi Service in India - Voice of Customer (VoC)
Uber Taxi Service in India - Voice of Customer (VoC)
 
Impact of Indian Politics on Transportation Sector in India
Impact of Indian Politics on Transportation Sector in IndiaImpact of Indian Politics on Transportation Sector in India
Impact of Indian Politics on Transportation Sector in India
 
Radio Taxi Market in India
Radio Taxi Market in IndiaRadio Taxi Market in India
Radio Taxi Market in India
 
Corportization of private stage carriage scheme
Corportization of private stage carriage schemeCorportization of private stage carriage scheme
Corportization of private stage carriage scheme
 
Urban Transportation Market in India
Urban Transportation Market in IndiaUrban Transportation Market in India
Urban Transportation Market in India
 

Último

Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsyasinnathani
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Winbusinessin
 
Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsWristbands Ireland
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinAnton Skornyakov
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)tazeenaila12
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxJemalSeid25
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.mcshagufta46
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 

Último (20)

Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story points
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024
 
Fabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and FestivalsFabric RFID Wristbands in Ireland for Events and Festivals
Fabric RFID Wristbands in Ireland for Events and Festivals
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup Berlin
 
Investment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV IndustriesInvestment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV Industries
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptx
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 

Cab-sharing / Taxi-sharing is the next innovation in Taxi Industry..

  • 1. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication Cab-sharing / Taxi-sharing is the next innovation in Taxi Industry.. The world's population is growing and so is the demand for resources. However as the resources are limited, there is greater pressure on existing resources. The world is looking for innovative solutions to address these challenges by building "Sharing Economy", where people are looking to share their assets with others for charge. There has been emergence of some big brands such as AirBnB (Sharing House), Uber (Sharing Rides), ZipCar (Sharing Cars), TaskRabbit (Sharing Services) and many more... In the transportation space the new buzzword is Cab or Taxi-sharing. Mobility is one of key challenges faced by cities around the world. There is a lot of interest in the transportation industry to provide new options for the city dwellers and new ways of reducing costs. As cities become more crowded and polluted, the idea of car sharing is catching around the world. Cab-sharing means sharing your cab or taxi with other passengers (mainly strangers) who are heading in same direction. Shared taxi services is not new and is already practiced informally in developing countries; drivers while taking one passenger towards the destination, take in other passengers also who are going towards the same direction . In an organized scenario while fare-splitting with friends isn't new, matching up total strangers who pay their share is. The idea of Cab-sharing is gaining more popularity after the advent of Taxi-service mobile applications around the world. With new technology features, the passenger can show his/her willingness to share a ride with another passenger. Benefits of Taxi Sharing - New York City Taxi service is one of the important components of urban transportation and plays a vital role to provide mobility. However, Taxis are also a major contributor to traffic congestion and air pollution. A recent study shows that the negative impact of taxi on the city can be reduced by sharing taxi. The study was conducted by the Senseable City Laboratory (SCL) at the Massachusetts Institute of Technology (MIT). Researchers from MIT, Cornell, and the Italian National Research Council’s Institute for Informatics and Telematics applied a series of algorithms to calculate the benefits of sharing a cab using origin-destination data of all 172 million trips with passengers of all 13,586 taxicabs (medallion) in New York during the calendar year of 2011. The location information was collected via Global Positioning System (GPS) technology by the data provider. The study has highlighted 3 important things:  New York’s taxi system could benefit greatly by incorporating sharing into its system.  With just a delay of 5 minutes per trip, almost 95% of the trips could have been shared in New York.
  • 2. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication  If travellers adopt taxi-sharing model then cumulative trip length can be cut by 40% and total travel time can be reduced by upto 30%, leading to reduction in traffic, operational costs and carbon dioxide emissions. While New York City offers ample opportunities for trip sharing with minimal passenger discomfort, as it does not require to re-routing the sharing trips, It is difficult to ascertain that a mathematical framework can analyze the systematic understanding of the trade- off between collective benefits of sharing and individual passenger discomfort. It is too early to say that Cab-sharing can drastically reduce traffic, fares, and carbon dioxide emissions. Key Players Some of key Cab-sharing players are: UberPool (www.uber.com) (Image: www.memeburn.com) Uber has recently introduced a feature - called UberPool, in its app to allow ridesharing with other passengers in San Francisco. It exists alongside other tabs in the Uber app and allows users to save up to 40% of the cost of a shared ride. UberPool is a new product that allows Uber passengers to select to share their ride with others who are taking the same route and lower the overall cost of the ride. With UberPool, the passenger can share a ride and split the cost with another person who just happens to be requesting a ride along a similar route. UberPool works like the regular Uber service, except it pairs users up with another rider, and notifies them of their co-rider's first name. If it can’t find a match, Uber will offer you a discount on a traditional Uber ride. Uber has largely relied on one-to-one customer interactions. By bundling riders into similar rides, Uber can be more efficient, save customers money and even help drivers earn more revenue per hour. Uber aims to revolutionize P2P market and wants to be cost- competitive than owing a car, a game-changer in transportation industry.
  • 3. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication LyftLine (www.lyft.com/line) According to Lyft data, the company observed that 90% of rides have someone else taking the same trip within five minutes. This provides a huge opportunity to club these rides together. Lyft launched the new service - Lyft Line, which allows users to split fares when they are going in the same direction. The passengers can save an average of 30- 60% percent depending on the ride. In case, the app is not able to find another passenger to share the ride, the discount will only be about 10%. Lyft Line was built with help from the team behind Rover that tried to bring together multiple transportation options - walking, biking, taking public transportation, and even new ride-hailing apps that were on the market. Shared Rides by SideCar (www.sidecar.cr)
  • 4. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication (Image: articles.chicagotribune.com) SideCar has built a real-time ridesharing community that connects drivers with spare seats in their car to passengers who need instant rides across the city. The company launched 'Shared Rides' initiative in San Francisco, which allow customers to split the fare of their trips by getting matched with other nearby riders heading in the same direction who then share the car and the price of the ride with passengers. SideCar has matched around 1,000 shared rides in San Francisco per week. The company has recently received a funding of $15 million and is planning to use the fund to grow the service by expanding it locally and “beyond,” with the goal of hitting 500,000 rides in one year. Bandwagon (www.bandwagon.io) (Image: www.latimes.com) Bandwagon, founded in 2013, is funded in part by the Urban Future Lab. The company is offering ride-sharing service to users. The users need to mark origin and destination point on the map and the app matches up with ride partners and pay a calculated split fare on their smartphone. The company has even created "priority zones" for its users in places with long wait lines for cabs or car services. The ride sharing can only be successful if there are large numbers of users. In order to expand its network, the company entered into partnership with Hailo, taxi-hailing app, to offer ride-sharing service for cabs and licensed car services. The service is initially launched in New York and the users can book the cab using Bandwagon app, which instantly connects to Hailo to dispatch a yellow cab or licensed private car. The company claims to save upto 65% of the cost of a normal ride.
  • 5. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication Hitch Rides (www.hitchrides.com) (Image: www.techcrunch.com) Hitch Rides is based in San Francisco and is providing a unique service by offering a ride-sharing service at limited times of day. It uses algorithm to maximize the number of passengers in a single car to increase driver utilization and reduce prices for riders. The users need to tell the number of seats required so that it can search the matching option. The application allows passengers who are sharing a ride to learn more about one another by showing each other’s mutual Facebook friends and likes to give them something to talk about. The company has been recently acquired by Lyft and its founders (Snir Kodesh and Noam Szpiro) will be working to bring some of what they had built into the Lyft Line product. For ride-sharing service, it is important to have a critical mass of passengers when trying to match up multiple users for a shared ride. Zimride (www.zimride.com)
  • 6. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication Zimride, founded in 2011, has created a carpooling platform for students and staff through college community network or corporate community using social networks. It allows user to create a profile, and book or post a ride. Also the users can mention their interests, music tastes, and feedback about the ride. to help users find others who were going in the same direction to share rides. The users receive / make payouts via PayPal. The payment is made one day after the ride is complete. About 80% of seats in cars go unused at any given time and Zimride tries to increase the occupancy rate of vehicles on the road. But the platform at that point was mostly used for long-haul trips. Maaxi (www.maaxitaxi.com) Maaxi, started in 2012, is trying to make traditional London black cabs cheaper than public transport by grouping passengers with similar destinations. The App offers black cabs only in shared and normal fare format. The application is designed to match up to five strangers travelling in the same direction, so that they can share a ride and split the bill. Alternatively, users can opt to ride solo when they make their booking. The company is backed by Nathaniel Rothschild and has support of the Licensed Taxi Drivers Association. The application charges each person less than the meter fare but overall gets more. It is interesting to understand that how the application charges the user. The application calculates fares according to the distance and time the person spends in the taxi, i.e. if five people share a trip then it split the fare for that portion in five, and if in a subsequent shared journey only four are sitting in the taxi, the fare is shared by four. Another interesting feature of the application is that it integrates with Transport for London (TfL) and National Rail's timetables to allow travellers to co-ordinate the "last mile" of their journeys. Cab Corner (www.Cabcorner.com) Cab Corner, founded in 2008, is a cab-sharing platform which connects the users going in the same direction around the same time. The application allows user to split the fare
  • 7. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication and make taxi travel more affordable to a wider segment of the population. The company also acquired CabEasy to consolidate its position. The company uses sponsored retail stores, called 'HotSpots', throughout the city to help match riders. These HotSpots are used as key points for users seeking to share a cab ride. Gobi Cab (www.GobiCab.com) GobiCab is an iPhone app that allows users to share a cab. It allows users to decide when/where users wish to share a cab and the application matches them with others looking to do the same. The application was founded by Aleem Mawani. The user needs to enter his origin and destination. The application allows users to browse potential matches and even chat with them directly through the app. It also suggests events or big venues currently near you and/or your destination. The application does not seem to attract lots of users till date The other new applications are: - Taxi2 (www.Taxi.to): The application allows users to recognise other travellers who are interested in saving half the cost of their taxi ride from the airport to their final destination. - SplitMyTaxi (www.splitmytaxi.com): It is currently offering beta version and invites member to register this service. - Cab Match (www.CabMatch.com): It has built a community of people who wish to carpool to work, cab share around the city, or cab share to the airport. - ShareFareCab (www.sharefarecab.com): It enables user to recognize other travellers who are interested in saving half the cost of their taxi ride from the Airport/Railway Station to their final destination. Benefits Some of the key benefits of Cab-sharing are: Environment Friendly: Cab-sharing can definitely reduce the emission by taxi travel as it will combine multiple trips and fill the unused seats in the taxi. It is projected that 7,000 kg of carbon emissions could have been eliminated by combining the taxi trips in New York. Less Congestion: The easiest way to reduce the congestion on the street is to reduce the number of vehicles on the road. The requirement of number of cabs or private vehicles will go down if commuters share cabs. Reduce Car Ownership: Cab-sharing could potentially make owning a car and commuting by oneself obsolete. The cost of ride will drastically reduce and making it more competitive than owning a car.
  • 8. Valoriser Consultants Tel: +91-11-25546049 | Mobile: +91-9958835533 Email: Info@valoriserconsultants.com | Website: www.valoriserconsultants.com © 2014 Valoriser Consultants Publication Save Cost: Cab-sharing can be good for commuters who want to save money on each trip and are happy to share a ride. However, it is important that the users are not time- constrained in getting where they need to be. Extra Revenue: Cab-sharing not only saves money for the customers but also provides increased revenues for drivers. Key Issues While there are lots of benefits to share cab rides. It is important to address the issues related to cab-sharing service. Some of key issues are highlighted below: Time: Time is a key factor for every person and everyone prefer to get picked up and dropped at their desired point. Time optimization is really important and can be done best by people sharing a cab if they have the same destinations and nearby pickup locations. Safety: Safety is one of the important issues as the passenger would share a ride with strangers. Hence it is important to build a community where users need to sign up first and the identities are verified. All taxis can be equipped with cameras, which can provide a certain base safety for the driver and the customers. Regulation: Cab-sharing service is facing legal challenges from the regulatory authorities. In the existing format, Taxi can be hired by the commuters at a prescribed rate. As per law, Taxi can not operate as 'Stage Carriage Transportation', i.e. picking passengers on the route and can charge passengers individually when carrying multiple people in one vehicle. Trusted Network: For the success of cab-sharing service, it is important that there should be a critical mass of sharers in the network. It is difficult for new startup to launch an application from the scratch and struggle to gain traction quickly. It is easier for the existing cab companies to offer cab-sharing services to its existing network. This makes ride-sharing services cheaper compared to regular taxi service.