Why Bike Taxi Services are an Excellent Alternative to Public Transport
Public transport has been the lifeline for people worldwide for years. Whether it's office travel or commuting to the market, public transport mediums like metros and buses have been the go-to choice for a lot of people. But this relationship is heading to a sad ending as COVID-19 has disrupted the public transport sector.
But bike transportation services have come to the rescue. These services allow you to book a bike taxi just like you book an Uber or Lyft. Besides, they're safer, affordable, and more convenient, making them an excellent alternative to public transport. Let's discuss why bike taxi service apps are becoming the new normal during the COVID-19 pandemic.
The Effect of COVID-19 on Public Transportation
Though almost every sector has suffered a blow due to the COVID-19 pandemic, the effects have been more substantial on public transport. The ridership has plunged, and the future viability of public transport is also in question.
n the US, for example, 2.8 billion fewer Labor Day weekend trips were reported this year than in 2019. This sudden reduction in public transport usage comes out as a result of massive restrictions imposed on public transport by countries across the globe.
The rise of remote work has also impacted the demand for public transport. The Washington Metro has witnessed nearly an 80% drop in travelers. Significant declines were also reported in San Francisco amid the COVID-19 pandemic.
The effects are being seen in Europe, as well. In Berlin, transport lines have been reduced to 10-minute intervals, with less busy lines being temporarily closed. Public transport services in London have also adopted a weekend timetable to reduce transport frequency.
The same changes are visible in Israel, Hong Kong, and other countries. This has also led to a profound economic impact on the public transport industry. In London, the financial implications could cost up to £500 million, predicts the Transport of London. Bay Area Rapid Transit (BART) has also anticipated a loss of $37 million per month due to transport restrictions.
The Rise of Bike Taxi Services
The global taxi market is on the rise, with two-wheeler taxis leading the surge. The taxi market is expected to grow with a CAGR of 9.22% during 2019-2024. The bike taxi sector is set to grow faster, especially in the Asia-Pacific Region. The region accounts for more than 70% of the global two-wheeler market, and the Asia-Pacific two-wheeler taxi market is set to witness a growth of 25% CAGR.
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