Asia Pacific In-Taxi Digital Signage Market 2020-2027

Asia Pacific In-Taxi Digital Signage Market 2020-2027

Bonafide Trust 18-08-2022 103 Pages Figures : 46 Tables : 29
Region : Asia-Pacific Category : IT & Telecommunications Internet, E-Commerce & Software

Asia Pacific in-taxi digital signage market will grow by 6.0% annually with a total addressable market cap of $1,358.3 million over 2021-2027 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. Taxi ads are used by advertisers 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. 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. The growth of the market 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.

Asia-Pacific is projected to register the largest market share in the in-taxi digital signage market in 2026. Owing to low labour costs in the Asia-Pacific region, the overall cost of implementing and installing digital signage systems is significantly low in the region. 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 the Asia-Pacific region due to the increasing adoption and penetration of digital technologies and advanced audio-visual solutions integrated with next-generation technologies, including AI and AR. Asia-Pacific is supposed to have greater demand during the forecast year because of the fast-growing population. This factor alone stands out as the reason why the region will dominate the in-taxi digital signage market share in the given forecast period. 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. The top key players in the market are located in the region. The market is currently facing many obstacles which will hinder the growth, like the increasing fuel prices and people shifting to fleet transportation in order to fulfil their sustainability behaviour. This is also coupled with the fact that the Asia Pacific region consist of a large middle class population in developing countries which prefer cheaper public transport modes to begin with.  

As large projects are ongoing in countries like China, India, Australia, and Indonesia in Asia-Pacific, the region has the potential to bypass any competition. This is also because of the great amount of reserves the region has. Exploration activities in China are increasing, due to which China may have great demand for tin catalysts and compounds. 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.

Impact of COVID
The COVID-19 outbreak has hindered the growth of the in-taxi digital signage market as there were continuous lockdowns and travel restrictions around the world. The ridesharing player, Bolt, closed its local operations after almost two and a half years in Australia, which was primarily a result of weakened demand due to the pandemic. But at the same time the market was also able to sustain due to the general public preferring the private mode of transport with public transport being a threat for getting infected by the Virus  

Highlighted with 29 tables and 46 figures, this 103-page report “Asia Pacific In-Taxi Digital Signage Market 2020-2027 by Component (Hardware, Software, Service), Vehicle Type (Luxury Taxi, Economy Taxi), End User, and Country: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific 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 Asia Pacific 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 Asia Pacific in-taxi digital signage market in every aspect of the classification from perspectives of Component, Vehicle Type, End User, and Country.

Based on Component, the Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 national/local markets are fully investigated:
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

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