Ride Hailing Market

Global Ride Hailing Market by Service Types (E-Hailing, Car Sharing, Car Rental, and Others), Vehicle Types (Two-wheelers, Cars, and Others), Payment Methods (Cash, Card, and Online), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: AL-4290
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 176
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The global ride hailing market was valued at USD 112.75 billion in 2020 and is estimated to expand at a robust CAGR during the forecast period, between 2021 and 2028. Ride hailing is a third-party service offered to users, which enables them to book a ride through an online platform. Ride hailing services offer a communication platform that connects the passengers with the drivers. These platforms offer a safe and comfortable ride to passengers and enable them to pre-book any ride by adding the time and destination in the respective ride hailing app. Ride hailing offers a door-to-door service as opposed to a conventional taxi service. Mobility service providers offer different vehicles and options best fitted and adapted according to user convenience. The customer needs to open the app and enter the payment mode, destination, time of departure, and confirm the ride to avail the ride hailing service.

Ride Hailing Market key takeaways

Worldwide lockdowns were imposed due to the spread of COVID-19, which resulted in the shutting down of many services. No ride hailing services were required, as people were not stepping out of their houses, which hampered the ride hailing market. People were hesitant to use ride hailing services as an after effect of the pandemic. Drivers began sanitizing and maintaining all safety precautions to retain the trust among passengers. The market is expected to gradually grow, as the users are beginning to hail rides as companies, drivers, and passengers are taking necessary sanitization steps and adhering to strict cleanliness protocols.

Market Trends, Drivers, Restraints, and Opportunities:

  • High cost of vehicles is boosting the ride hailing market. People prefer using car rentals services and e-hailing services as the prices of owning a vehicle is increasing.
  • Rising prices of fuel has increased the demand for ride hailing services, thus driving the ride hailing market.
  • Varying policies in different countries regarding transportation is restraining the market, as many ride hailing apps are not regulated by any legal authority.
  • Drivers need to have a valid license and registration before engaging in ride hailing services. This makes it difficult for drivers, as many app-based companies do not own the vehicles. Thus, impeding the market.
  • Autonomous vehicles are being integrated into the ride hailing market by key players to increase their market share and further develop the automobile industry, which in turn, is expected to fuel the market.
  • Increasing preferences for availing ride hailing services among the younger generation is an emerging trend that is projected to drive the market.

Scope of the Report:

The report on the global ride hailing market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Ride Hailing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Service Types (E-Hailing, Car Sharing, Car Rental, and Others), Vehicle Types (Two-wheelers, Cars, and Others), Payment Methods (Cash, Card, and Online)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered

Uber Technologies Inc.; Lyft Inc.; Ola; BlaBlaCar; DiDi; Gett; and Kabbee

 

Ride Hailing Market Segment Insights:

Ease of booking and passenger comfort to drive the e-hailing segment

Based on service types, the ride hailing market can be segmented into e-hailing, car sharing, car rental, and others. E-hailing is a lucrative segment due to increasing traffic congestion, passenger comfort, and government initiatives to increase awareness regarding air pollution. The e-hailing segment allows users to book their ride through an app, which is easy to use, and increasing prevalence of the internet. Car rental services are becoming popular, as customers are travelling to other countries where they do not know roads and cannot transport their own vehicles. The e-hailing segment is projected to grow substantially during the forecast period owing to its benefits over conventional taxi rides.

Ride Hailing Market by taxonomy

Convenience and availability fuel the car segment

Based on vehicle types, the ride hailing market can be categorized as two-wheelers, cars, and others. The cars segment is projected to hold a key share of the market during the forecast period due to rising preference for users to avail ride hailing services by travelling in cars. Rising prices of cars and fuel is encouraging people to opt out of buy cars and instead use ride hailing services to travel. Cars are safe and convenient option for travelling long distances, and thus are preferred. This, in turn, makes the segment lucrative. However, many key players are launching two wheelers such as scooters and bikes, as they are faster and more efficient alternative to cars.

Online mode of payment is the more convenient and easier option

On the basis of payment methods, the market can be segmented into cash, card, and online. The online payment method is a convenient option, as it ensures contactless payment and eliminates the requirement to carry cash everywhere. Users prefer to pay for their rides using payment apps, which are easier, faster, and convenient. The COVID-19 pandemic has increased the preference among people to pay for their rides through online mode to avoid any contact, thus adhering to the safety protocols.

Asia Pacific dominates the market

In terms of regions, the global ride hailing market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increasing population in the countries in Asia Pacific has resulted in many availing ride hailing services, making this region lucrative. The ride hailing companies in China provide subsidies to drivers to ensure that there are no disruptions in bookings. The market in North America is growing rapidly due to the rise in daily commute.

Ride Hailing Market by regions

Segments

By Service Types
  • E-Hailing
  • Car Sharing
  • Car Rental
  • Others
By Vehicle Types
  • Two-wheelers
  • Cars
  • Others
By Payment Methods
  • Cash
  • Card
  • Online
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

Competitive Landscape

Key players in the ride hailing market include Uber Technologies Inc.; Lyft Inc.; Ola; BlaBlaCar; DiDi; Gett; and Kabbee. These players engage in mergers & acquisitions, collaborations, agreements, product development, strategic marketing activities, and partnerships to strengthen their geographical presence.

Ride Hailing Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ride Hailing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ride Hailing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ride Hailing Market - Supply Chain
  4.5. Global Ride Hailing Market Forecast
     4.5.1. Ride Hailing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ride Hailing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Ride Hailing Market Absolute $ Opportunity
5. Global Ride Hailing Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Ride Hailing Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Ride Hailing Demand Share Forecast, 2019-2026
6. North America Ride Hailing Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Ride Hailing Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Ride Hailing Demand Share Forecast, 2019-2026
7. Latin America Ride Hailing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Ride Hailing Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Ride Hailing Demand Share Forecast, 2019-2026
8. Europe Ride Hailing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Ride Hailing Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Ride Hailing Demand Share Forecast, 2019-2026
9. Asia Pacific Ride Hailing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Ride Hailing Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Ride Hailing Demand Share Forecast, 2019-2026
10. Middle East & Africa Ride Hailing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Ride Hailing Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Ride Hailing Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Ride Hailing Market: Market Share Analysis
  11.2. Ride Hailing Distributors and Customers
  11.3. Ride Hailing Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Uber Technologies Inc.
     11.4.2. Lyft Inc.
     11.4.3. Ola
     11.4.4. BlaBlaCar
     11.4.5. DiDi
     11.4.6. Gett
     11.4.7. Kabbee
By Service Types
  • E-Hailing
  • Car Sharing
  • Car Rental
  • Others
By Vehicle Types
  • Two-wheelers
  • Cars
  • Others
By Payment Methods
  • Cash
  • Card
  • Online
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

Key players in the ride hailing market include Uber Technologies Inc.; Lyft Inc.; Ola; BlaBlaCar; DiDi; Gett; and Kabbee. These players engage in mergers & acquisitions, collaborations, agreements, product development, strategic marketing activities, and partnerships to strengthen their geographical presence.

Ride Hailing Market by key players

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