Yelowsoft delivers a Super App to MyCar: One of the biggest e-hailing companies in Malaysia

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MyCar is a Malaysia-based e-hailing ride application that offers their riders with on-demand passenger transport services in 14 major cities of the country. MyCar is owned by the platform apps Sdn Bhd, which is a technology company founded by Mohd Noah Maideen.

 


MyCar officially started its operations on February 2018. MyCar’s application helps drivers to leverage a high consumer demand in the ever-growing ride-hailing market. Today, there are around 113,800 drivers registered with MyCar, out of which 20% are women drivers.

More than 2 million riders use MyCar’s services in a month. MyCar’s vision is to become the most preferred e-hailing service in the region with its most affordable transportation offerings.

The traditional taxi services in Malaysia don’t have a good reputation. This is evident from the fact that the list of the world’s worst taxi drivers which was published by LondonCabs.co.uk. had Malaysia at the first rank. This is primarily the reason why riders choose app-based ride-hailing options other than the traditional taxis.

The market of ride-hailing in Malaysia is ever-increasing. In the year 2020, it’s projected to reach around US$577m. The overall revenue is estimated to exhibit an annual growth rate of 18.6% (CAGR 2020-2024) which would result in a market volume of US$1,143m by the year 2024. User penetration is also expected to be around 22.1% by the year 2024.


READ MORE  : Yelowsoft delivers a Super App to MyCar: One of the biggest e-hailing companies in Malaysia

Location: United States

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