June 23, 2017

Can Uber win in India after China loss

After selling out to bitter rival Didi Chuxing in China, Uber now faces a tough fight in India . And analysts tell CNBC that the San Francisco headquartered firm – which revolutionized public transportation since it was founded by Travis Kalanick in 2009 – has to win this time around.

"After losing China, Uber can’t lose another market to a local player," Jaspal Singh partner at urban transportation consultancy Valoriser said.

"Uber will be desperate after the China sale. Globally they are losing big… [but in India] the opportunity is immense for Uber to expand," Neil Shah, director at Counterpoint Technology Market Research, said.

A Godzilla market

The stakes are high. The taxi market in India stands at around $13 billion and is expected to expand to $36 billion by 2020. And the Uber kind of app-based cab hailing companies account for just 1 percent of this market, according to industry estimates.

Growth is being driven by technology innovation and smartphone penetration, say experts. The current 250 million smartphone users are expected to grow to 500 million within two years, according to Counterpoint research.Rapid urbanization, a growing young population and limited public transportation options all add up to create a huge unmet […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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