Market Size of Middle-East and North Africa Taxi Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East & North Africa Taxi Market Analysis
The Middle East and North African Taxi Markets are projected to record a CAGR of more than 5% during the forecast period.
The COVID-19 pandemic brought unprecedented disruptions to many industries, and the transportation industry is also among them. Due to COVID-19-associated norms implementation, such as social distancing, the ban on tourist places, etc., the Middle East and North Africa taxi market witnessed a hit in 2020. However, post-pandemic players are focusing on new technologies for the development of the taxi market in the region. For instance,
- April 2022: Mobileye unveiled its True Redundancy sensing system, a significant step toward the launch of its planned robotaxi services in Israel.
Owing to the increasing business opportunities in the region, business travelers and the growing tourism and religious travelers are driving the demand for taxis in the Middle East and North African region.
According to a report published by World Bank, the number of international tourists who visited the UAE in 2021 is estimated at 12 million people. The United Arab Emirates (UAE) launched several initiatives to promote the travel and tourism industry, including the Dubai Tourism Strategy 2020. Vast cultural heritage, connectivity with the world, developed infrastructure, and business tourism are attracting a diversified tourist base in some countries of the Middle East region.
Countries like Saudi Arabia, Egypt, UAE, etc., are the places international tourists most prefer in the region. The major taxi players and government are investing majorly in these countries to cater to growing demands. For instance,
- November 2022: The traffic authorities in the Kingdom of Saudi Arabia have launched a new digital driving authorization service for visitors who wish to drive in the country. The General Directorate of Public Security's new platform, Absher Business, launched under the country's Traffic Department, allows car rental companies to authorize state visitors to drive vehicles across a border number.
