What does the ride-hailing marketplace hold for you in the future? [Futuristic Insights]

Ride-hailing services have definitely enhanced the way we used to commute to places. The ease of booking through the app and then making the payment has made the on-demand ride-hailing businesses a sureshot success among the masses.

The ride-hailing services marketplace is prone to advancements due to the changing user patterns. To let you know about the future of ride-hailing services, this blog has been brought to you. Delve in to grab the insights!

What’s in store for ride-hailing businesses?

The global ride-hailing marketplace has expanded in recent years and apps like Uber, Lyft, Grab, etc., chip in a major portion as far as revenue generation is concerned. Ride-hailing businesses hold a stiff competition and the best way is to infuse some futuristic advancements. Let us see how you can make your ride-hailing business advanced in order to occupy the marketplace.

● Women-centric approach

In the past, we have come across many incidents related to the threat to the safety of women passengers during taxi rides. This has happened even with one of the most reputed companies like Uber. As a measure to eliminate such incidents, the panic button was introduced. Yet, the safety of women passengers is out of the question.

This is one of the market gaps in the ride-hailing industry and a few companies came up with ride-hailing services for women. Safr is a ride-hailing services company that concentrates on women passengers’ safety by employing women drivers.

Similarly, Kaiian, a ride-hailing company based out of Saudi Arabia, introduced on-demand transportation for women. The CEO of this company said that the motive behind the rolling out of on-demand transportation for women is to bring social change and also to help women take up their own drives.

Though providing women-centric services is considered unfeasible by many, the future calls for such services.

● E-transportation services

The magnifying demand for taxis and other private vehicles has caused the pollution level to surge. Pollution is not only the major concern, but the traffic congestion due to the lineup of multiple taxis is also another social concern.

Apart from taxis, on-demand bikes can be introduced as part of your business. Electric bikes can be introduced, which will save users from traffic. Also, the level of pollution can be kept under control if electric bikes are introduced. Lime is a popular service provider of e-bikes, which uses advanced technology like a QR code scanner for locking and unlocking bikes. Likewise, Greenr is also a ride-hailing services company that uses electric cars for transportation.

Not just e-bikes, but e-cars can also be appended to the list of eco-friendly transportation services.

● Addition of multiple services

The best thing you can do to sustain in the future amid this competition-rich on-demand marketplace is by branching out to multiple services. Hanging about a single on-demand service is not the best case as the future is unpredictable. A service that tops the marketplace today might fall down tomorrow. Hence, in addition to ride-hailing, add parcel delivery, grocery delivery, etc.

You might have known about the impact of super apps in the Southeast Asian marketplace. Super apps will boom in multiple regions anytime soon, and you cannot stop users from relying on super apps as they are a repository of different yet essential on-demand services.

● Data is the key

Predicting user’s behavior has become an integral portion of businesses and is mandatory as well. Analytics is a data collecting tool, which can be integrated with your app. The data collected from this tool can be applied to your business in order to understand your users and provide offerings accordingly.

Numerous data points can be collected from analytics. For instance, in ride-hailing services, you need to know the frequency of taxi bookings, peak hour bookings, payment method used, region that throws maximum bookings, most-visited destinations, etc. With a modern and effortless tool like analytics, you can get an in-depth understanding of all the above-said behaviors.

● Optimization

Digital marketing has been helping businesses to gain a broader perspective about their users and the market trends. When it comes to digital marketing, it is all about the different ways to improve the rankings of your website or apps. To put it in simple terms, promoting your product among users will become easy if you apply some key digital marketing metrics. In this regard, App Store optimization is one of the key ways to gain exposure for your ride-hailing app. Say you have launched the app, and the next step is to analyze the user’s responses.

Right from the day of launching the app, you must monitor the responses coming from users. To gain a top position in the App Store, you must insert relevant keywords, optimize reviews, and, most importantly, offer quality services through your app.

● AI-based fleet management

The above pointers were mostly about enhancing the experience of users, thereby attaining growth for your business. Here, let us see how fleet management software can size up the efficiency of your business and also enhance the driver’s experience.

The job of fleet management software is to monitor every move, including the driver’s move, and inform the owner. From the software, you can clearly know the fleet’s location, the distance it has traveled so far, fuel consumption, speed, etc. More than these insights, you can collect the driver’s behavioral details like whether the driver sleeps, smokes, drinks, etc., through the facial recognizer feature.

Overall, a detailed catalog of your fleet and the driver can be attained through fleet management software. For drivers, this software helps in different ways like identifying the road or the route to begin the ride, checking the weather conditions, monitoring the fuel consumption rate, etc. Contacting the owner is also another facility of the fleet management system.

Also, the Uber clone app development has also gained prominence as they are easy to launch and armed with advanced features