The research compares taxi numbers from 2013 to this year.
There are over 100 less taxis in the midlands than there were a decade ago.
New figures from Insuremytaxi.ie has found there are currently 596 in operation, down from 699 in 2013.
Those include hackneys, limousines and wheelchair accessible taxis.
Westmeath has the largest number of taxis in operation currently, with 300 - that's followed by 229 in Laois and 170 in Offaly.
Managing Director of Insuremytaxi.ie Jonathan Hehir says young drivers don't feel the industry is profitable right now.