Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has declined at a CAGR of 5.5 % over the past five years, to reach an estimated $2.2bn in 2025.
Trends and Insights
The strong popularity of ridesharing
- Over the last decade, Uber and Lyft have entered the scene, popularizing ridesharing as a viable way to generate income for drivers while becoming a convenient way for many individuals to get around. The companies have been expanding their presence, with the former launching operations in Newfoundland in 2024 and the latter in Edmonton and Calgary in 2023.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to decline over the next five years.
Trends and Insights
Traditional taxicabs will lose ground to rideshare services
- The taxi allocation system currently in place in most larger cities, which restricts the supply of taxis, will likely remain in place for the foreseeable future. Meanwhile, ride-hailing apps like Uber and Lyft will continue to expand. If the company can work with local governments and regulators, Uber will likely extend its reach across Canada while new services emerge to take advantage of the consumer shift to mobile applications. In 2025, Uber will operate more extensively across British Columbia.
Biggest companies in the Taxi & Limousine Services in Canada
| Company | Market Share (%)
2024 | Revenue ($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 Canada 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 services, Stretch limousine services and Luxury vehicle services. Taxi services is the largest segment of the Taxi & Limousine Services in Canada.
Trends and Insights
Traditional for-hire taxi services are omnipresent
- Taxi income is derived from the fares earned after a taxi is hailed or booked. In many cases, customers do not choose a particular taxi, but patronize the first in the taxi rank or hail the first taxi that passes.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry provides passenger transportation by taxi, limousine and luxury vehicles. Taxi services help pick up and drop off anyone who needs to get to various locations, and limousine services are rented or hired by a driver. This industry does not include transporting passengers to or from locations using buses or vans.
What's included in this industry?
Providing limousine servicesProviding luxury vehicle servicesProviding taxi servicesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
TOWN CARBLACK CARSTRETCHED LIMOUSINEMEDALLIONLIMO BUSTRANSPORTATION NETWORK COMPANYIndustry Code
NAICS 4853 - Taxi & Limousine Services in Canada
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
Rising external threats from rideshare services have siphoned away demand from traditional taxi services. Heightened competition from these companies has driven down the indu...
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
Demand for taxi vehicles has waned over time. Rideshare applications have disrupted traditional for-hire taxi services, making them unable to capitalize on the number of peop...
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
Because of its service-based nature, the industry's business locations closely follow the country's population distribution. Big cities, where high population densities and d...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2025
Tables
- Number and share of establishments in each province in 2025
- Number and share of revenue each province accounts for in 2025
- Number and share of wages each province accounts for in 2025
- Number and share of employees in each province 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
Public transportation poses a large threat to industry enterprises during times of macroeconomic struggle. This threat is further amplified by the proliferation of rideshare ...
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
There are no major players in the industry. Government regulation and geographic constraints lead to a highly fragmented landscape. No single company currently captures over ...
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
A drop in international trips by Canadian residents has been working against this industry. Taxi drivers need a reliable stream of consumers and having tourists regularly pop...
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
Profit and costs in the industry vary greatly depending on size. An operator's cost and profit breakdown also depends on whether it is a self-employed driver, company, or ass...
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
- Liquidity Ratios (2018-2023)
- Coverage Ratios (2018-2023)
- Leverage Ratios (2018-2023)
- Operating Ratios (2018-2023)
- Assets (2018-2023)
- Liabilities (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 industry in Canada in 2025?
The market size of the Taxi & Limousine Services industry in Canada is $2.2bn in 2025.
How many businesses are there in the Taxi & Limousine Services in Canada industry in 2025?
There are 26,099 businesses in the Taxi & Limousine Services industry in Canada, which has declined at a CAGR of 8.6 % between 2020 and 2025.
Has the Taxi & Limousine Services industry in Canada grown or declined over the past 5 years?
The market size of the Taxi & Limousine Services industry in Canada has been declining at a CAGR of 5.5 % between 2020 and 2025.
What is the forecast growth of the Taxi & Limousine Services industry in Canada over the next 5 years?
Over the next five years, the Taxi & Limousine Services industry in Canada is expected to decline.
What does the Taxi & Limousine Services in Canada include?
Providing limousine services and Providing luxury vehicle services are part of the Taxi & Limousine Services industry.
How competitive is the Taxi & Limousine Services industry in Canada?
The level of competition is low and steady in the Taxi & Limousine Services industry in Canada.
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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 Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
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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