Global In-Taxi Digital Signage Market 2020-2027

Global In-Taxi Digital Signage Market 2020-2027

Bonafide Trust 18-08-2022 156 Pages Figures : 79 Tables : 81
Region : Global Category : IT & Telecommunications Internet, E-Commerce & Software

Global in-taxi digital signage market will reach $650.0 million by 2027, growing by 4.2% annually over 2020-2027 owing to the increasing adoption of digital signage in the commercial vertical, growing demand for 4K & 8K display, and increasing technological advancements in digital display products. Taxi advertising is one of the most immediately recognizable kinds of outdoor advertising. Advertisers use taxi ads to make a huge impact on riders, other drivers, and even pedestrians. Taxi top ads, partial or full wrapped taxi ads, taxi trunk ads, and in-cab ads are some of the options available for advertisers. Over the long term, the market's growth is driven by factors like increasing adoption of digital signage products in the commercial vertical, rising infrastructural developments in emerging countries, growing demand for 4K and 8K displays, and increasing technological advancements in display products.

North America is estimated to dominate the in-taxi digital signage market, showing considerable growth during the forecast period. Asia-Pacific is expected to have the fastest growth during the forecast period. Asia-Pacific is projected to register the largest market share in the in-taxi digital signage market in 2027. Owing to low labour costs in the Asia-Pacific region, the overall cost of implementing and installing digital signage systems is significantly low. This has led to the emergence of Asia-Pacific as one of the potentially largest markets for digital signage.The in-taxi digital signage market has experienced significant growth in Asia-Pacific due to the increasing adoption and penetration of digital technologies and advanced audio-visual solutions integrated with next-generation technologies, including AI and AR. For instance, in October 2021, Mumbai-based cab branding AdTech startup, Wrap2Earn Technologies, announced the launch of LytAds; a smart screen taxi-top digital OOH advertising solution. It uses internet-connected high-res LED displays mounted on rideshare vehicles to deliver contextual messaging for advertisers. Asia-Pacific is supposed to have greater demand during the forecast year because of the fast-growing population. Improvements in GDP per capita and infrastructure development have urbanized the region to a greater extent, turning rural areas into urban areas. The sudden surge in demand has caused the cities to fall into unsustainable consumption models. According to the National Bureau of Statistics, the in-taxi digital signage market may witness an increase in regional demand during the forecast period. Several countries, such as China, South Korea, and India, have witnessed developments related to infrastructure in recent years, along with the growth of retail, BFSI, and transportation applications. This factor is also expected to drive the demand for digital signage in the region.

Currently, local and foreign tourists in both developed and developing nations prefer luxury vehicles just for the experience, as owning them may not be feasible for most of them. Several taxi service providers across the world have started offering luxury vehicles in their fleets, and competitive pricing is providing opportunities for these vehicles to be picked up by tourists. Also, local taxi service providers and individuals who own exotic and premium cars are putting them up for hire for tourists. This trend is prominent in the United States and Western Europe. Tesla Model X, Audi, and BMW are popular brands on offer. In the United Arab Emirates, particularly Dubai, a popular tourist destination, the demand for luxury taxis has been increasing significantly. For instance, In January 2021, Uber provided a service in Dubai named Riding with Uber Black, which means traveling in a luxury taxi car fleet is primarily made up of newer BMW, Mercedes-Benz, and Tesla vehicles. With the minimum fare starting at AED 23.

The market is fragmented as several local and international companies supply LCD display screens (tablets) for taxis. Samsung (Knox Customization), Apple, Verifone, Swipe Technologies, and Touchmedia are the significant players operating in this market. Through its Knox customization division, Samsung developed software in its tablets (LCD screens) for taxi service providers. The China-based TouchMedia has also provided software and hardware solutions for more than 50,000 taxis across seven major cities in China. These two companies lead the software segment of the market studied, along with 42 Gears Mobility Systems and Bona Phandle Media. Moreover, several startups are emerging as software providers and hardware suppliers for in-taxi digital signage service providers. The major emerging organizations include Cabby Tabby Technologies and Swipe Technologies.

Recent Developments

In January 2021, Firefly, a taxi DOOH media network provider, partnered with vehicle fleet operator Drive Sally to deliver taxi-top DOOH advertising on Tesla taxis. The goal is to entice high-end brands through a zero-emissions platform.

In November 2021, A supply-side platform company for programmatic OOH media partnered with Uber OOH, Uber's DOOH cartopped advertising network. Uber's DOOH is included in more than 3,000 vehicles nationwide across Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, and Phoenix and has over 112 million daily impressions.

COVID-19 Impact
The market was majorly disrupted by the Pandemic with lockdowns being administrated worldwide. The Taxi business came to a standstill, the in taxi digital signage market also had the same effect with it. With no travelling business or no commuting fares the digital signage product became obsolete. Along with this the increasing screen time of consumers steered the brands away from the digital signage sector. This situation has improved with time as lockdowns were uplifted and travel restriction were eased. The consumer now are steering towards the private transport mode of Taxi to ensure safety against the virus and in turn giving a needed boost to the In taxi digital signage market.

Highlighted with 81 tables and 79 figures, this 156-page report “Global In-Taxi Digital Signage Market 2020-2027 by Component (Hardware, Software, Service), Vehicle Type (Luxury Taxi, Economy Taxi), End User, and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global in-taxi digital signage market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate for 2020 and forecast from 2021 till 2027 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.)

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global in-taxi digital signage market in every aspect of the classification from perspectives of Component, Vehicle Type, End User, and Region.

Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Device & Hardware
o LCD Display
o LED Display
o Other Hardware
• Solution & Software
o Installation Services
o Maintenance & Support
o Advertising Services
• Service

Based on Vehicle Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Luxury Taxi
• Economy Taxi

Based on End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Retail Industry
• Transportation & Logistics
• Hospitality Section
• Education Sector
• Healthcare Industry
• Corporate
• Entertainment & Sports
• Government
• Other End Users

Geographically, the following regions together with the listed national/local markets are fully investigated:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Component, Vehicle Type, and End User over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Key Players (this may not be a complete list and extra companies can be added upon request):
Device Manufacturers:
Apple Inc.
Curb Taxi
Samsung Electronics Co., Ltd.
Swipe Technologies
VeriFone Holdings Inc.
Software Providers:
Cabby Tabby Technologies
Enroute View Media Inc.
Gears Mobility Systems Pvt Ltd
Halo Cars
Service Providers:
Blue Line Media
Bona Phandle Media
Clear Vision Advertisement
Curb Mobility
London Taxi Advertising
Valoriser Consultants
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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