Global Ride Hailing Market Outlook, Opportunities And Strategies

December 22, 2021 by The Business Research Company

Learn about the global ride hailing market through The Business Research Company, which provides information on ride hailing market size, ride hailing market drivers and restraints, ride hailing market players, the COVID-19 impact on the ride hailing market, and more.

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The global ride hailing market is expected grow from $42.25 billion in 2020 to $56.87 billion in 2021 at a compound annual growth rate (CAGR) of 34.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $108.15 billion in 2025 at a CAGR of 17%.

On-demand transportation services and a lower rate of car ownership among millennials are expected to drive innovation in ride hailing manufacturing, thus driving the market during the forecast period.

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The ride-hailing market consists of revenue generated by ride-hailing used for passenger transportation service in which the passengers are connected with the vehicle drivers through a smartphone-based app. The industry comprises establishments primarily engaged in providing passenger transportation by automobile or van, not operated over regular routes and on regular schedules. Establishments of taxicab owners/operators, taxicab fleet operators, or taxicab organizations are included in this industry.

Global ride hailing market segments include:

By Vehicle Type: Two-Wheeler, Three-Wheeler, Four-Wheeler, Others

By End-User: Commercial, Personal

By Service Type: E-Hailing, Car Sharing, Station-Based Mobility, Car Rental

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Ride-hailing services have been advancing in the past few years by delivering innovative facilities to riders all over the world. Using a ride-hailing app on an Android device has now become very common. For instance, Uber is a ride-hailing app from which we can request a women driver. This feature is mainly implemented to focus on the safety of a woman which helps to stay protected with a verified profile of a woman driver before committing the journey.

TBRC’s ride hailing market report covers:

Major Market Players: Uber Technologies Inc., Grab, ANI Technologies Pvt. Ltd., Gett Inc., Lyft Inc., DiDi Chuxing, Delphi Automotive, Daimler AG., BlaBlaCar, and Didi Chuxing Technology Co.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Ride Hailing Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides ride hailing market overviews, analyzes and forecasts market size, share, ride hailing market players, ride hailing market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s ride hailing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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