Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has grown at a CAGR of 2.3 % over the past five years, to reach an estimated $71.2bn in 2025.
Trends and Insights
Growth in corporate profit and business activity supports revenue growth
- Business activity and corporate profit are crucial indicators for the taxi and limousine services industry, as many corporate clients and businesses procure taxi and limousine services for meetings and transport to and from flights. High inflation played a considerable role in dampening corporate clients’ propensity to use taxi and limousine services, as this ate into corporate clients’ fiscal flexibility. Still, the impact was considerably smaller compared to the positive developments of corporate profit itself. With heightened profit, corporations were more likely to enlist the services of a luxury sedan or “black car,” boosting demand for services provided by the industry.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to grow over the next five years.
Trends and Insights
Expansion in the labor market will bolster consumer confidence, supporting discretionary spending
- Taxi and limousine services are reliant on downstream demand, which is influenced by the number of events, leisure and business travel. The forecast improvement in the consumer confidence index and the expansion in per capita disposable income will support discretionary spending and lead more consumers to opt for ride-sharing, individual taxi and limousine services.
Biggest companies in the Taxi & Limousine Services in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Taxi & Limousine Services in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Taxi and taxi leasing services, Stretch limousine services and Luxury and corporate sedan services. Taxi and taxi leasing services is the largest segment of the Taxi & Limousine Services in the US.
Trends and Insights
The proliferation of mobile apps is spurring growth for the taxi and taxi leasing services
- The major services provided in this segment are taxi transportation and taxi leasing services.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in this industry provide passenger transportation via taxis, sedans, limousines and other automobiles. Taxi services are not operated on regular schedules or routes, and limousine services are rented or hired with a driver. This industry also includes limousine and hearse rentals for funeral services. However, specialized shuttle services that transport passengers to or from hotels and airports are not included in this industry.
What's included in this industry?
Providing limousine servicesProviding luxury sedan servicesProviding chauffer and personal driver servicesProviding corporate sedan servicesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
TOWN CARSTRETCH LIMOUSINEMEDALLIONLIMO BUSIndustry Code
NAICS 485310 - Taxi & Limousine Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
High inflation and rising fares have caused consumers to reassess their transportation choices, turning to cheaper alternatives. The shift is marked by lower-income users pri...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2015-2024) and forecast (2025-2030)
- Employees, including historical (2015-2024) and forecast (2025-2030)
- Businesses, including historical (2015-2024) and forecast (2025-2030)
- Profit, including historical (2015-2025)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The proliferation of mobile apps is revolutionizing the taxi and taxi leasing services industry. By integrating traditional taxi providers into mobile platforms like Uber, co...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2025
- Product innovation level
Charts
- Products & services segmentation in 2025
- Major market segmentation in 2025
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Taxi and limousine services thrive around major Southeast events, hosting numerous visitors who require transport. The presence of conventions, concerts and sporting events d...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2025
Tables
- Number and share of establishments in each state in 2025
- Number and share of revenue each state accounts for in 2025
- Number and share of wages each state accounts for in 2025
- Number and share of employees in each state in 2025
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The fragmentation of the taxi industry is accelerating due to the rise of ride-hailing apps like Uber and Lyft. By making it easier for drivers to enter the market, these app...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2020-2025
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The taxi and limousine market remains highly fragmented. Ride-hailing apps like Uber and Lyft are streamlining the entry process and lower the barriers to entry, incentivizin...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2021 through 2025
- Major companies in the industry, including market share, revenue, profit and profit margin in 2025
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Corporate profit signals the health of the corporate sector and its spending power. When corporate profits expand, businesses are more likely to spend on limousine services, ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2015-2030)
- Assistance historical data and forecast (2015-2030)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Taxis and limousine services have been recovering profitability by integrating with ride-hailing apps like Uber. This partnership allows access to more consumers and reduces ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Investment vs. share of economy
Data tables
- Industry Multiples (2018-2023)
- Industry Tax Structure (2018-2023)
- Income Statement (2018-2023)
- Balance Sheet (2018-2023)
- Liquidity Ratios (2018-2023)
- Coverage Ratios (2018-2023)
- Leverage Ratios (2018-2023)
- Operating Ratios (2018-2023)
- Cash Flow & Debt Service Ratios (2015-2030)
- Revenue per Employee (2015-2030)
- Revenue per Enterprise (2015-2030)
- Employees per Establishment (2015-2030)
- Employees per Enterprise (2015-2030)
- Average Wage (2015-2030)
- Wages/Revenue (2015-2030)
- Establishments per Enterprise (2015-2030)
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Taxi & Limousine Services in the US industry in United States in 2025?
The market size of the Taxi & Limousine Services in the US industry in United States is $71.2bn in 2025.
How many businesses are there in the Taxi & Limousine Services in the US industry in 2025?
There are 1m businesses in the Taxi & Limousine Services in the US industry in United States, which has grown at a CAGR of 2.0 % between 2020 and 2025.
Has the Taxi & Limousine Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Taxi & Limousine Services in the US industry in United States has been growing at a CAGR of 2.3 % between 2020 and 2025.
What is the forecast growth of the Taxi & Limousine Services in the US industry in United States over the next 5 years?
Over the next five years, the Taxi & Limousine Services in the US industry in United States is expected to grow.
What does the Taxi & Limousine Services in the US in United States include?
Providing limousine services and Providing luxury sedan services are part of the Taxi & Limousine Services in the US industry.
How competitive is the Taxi & Limousine Services in the US industry in United States?
The level of competition is high and increasing in the Taxi & Limousine Services in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Complementors
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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