Insights Into The Ride Hailing Market’s Growth Opportunities Through 2023-2032- Includes Ride Hailing Market Size
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
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.
The global ride hailing market is expected to grow from $61.10 billion in 2022 to $70.12 billion in 2023 at a compound annual growth rate (CAGR) of 14.8%. The global ride-hailing market size is expected to grow to $122.48 billion in 2027 at a CAGR of 15.0%.
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- By Vehicle Type:Two Wheeler, Three Wheeler, Four Wheeler, Other Vehicle Types
- By End-user:Commercial, Personal
- By Service Type:E-Hailing, Car Sharing, Station based Mobility, and Car Rental
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global ride hailing market in 2021.
Major Market Players in the ride hailing market include Uber Technologies Inc., Grab, ANI Technologies Pvt. Ltd., Gett Inc., Lyft Inc., DiDiChuxing, Delphi Automotive, Daimler AG., BlaBlaCar, and Didi Chuxing Technology Co.
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 female 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 female driver before committing to the journey. A major initiative is promoted by Safr, which permits female passengers to select the gender of the driver and offers complete details about the driver’s training. Similarly, HopSkipDrive is another ride-hailing app that gives safe and smarter transportation solutions to children by employing professional care drivers who have a minimum of five years of experience in caregiving.
The Ride Hailing Global Market Report 2023 provides a ride hailing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ride hailing market forecast analyzes ride hailing market size, ride hailing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Ride-hailing refers to transportation services in which the passengers are connected with the vehicle drivers through a smartphone-based app to provide passenger transportation by automobile or van, not operated over regular routes and on regular schedules, to improve the customer experience by reducing time of travel, operational cost, and ease of riding.
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