Global Ride-hailing Market Forecast and Analysis (2020-2027)

[akash Arjun pingale]

Global Ride-hailing Market size was valued at US$ 34.54 Bn. in 2019 and the total revenue is expected to grow at XX% from 2019 to 2027, reaching nearly US$ XX Bn.

The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Global Ride-hailing Market: Market Overview
Ride-hailing is passenger transportation service that enables passengers to hail a vehicle through online platform like Uber, Ola, and Lyft. The passenger is connected to vehicle drivers with a smartphone-based app. It is more comfortable means of transport as it serves door-to-door services. This service is safer than traditional service because the information of the driver and passenger is exchanged.
Global Ride-hailing Market: Market Dynamics
The major factors accelerating the growth of the ride-hailing market include rapid urbanization, increasing sales of vehicles, manufacturing and industrialization. In addition, longer time required by public transport, lack of public transportation mode, the ride-hailing services attract the travelers and passengers towards on demand services. Rising the price of fuel and high maintenance cost of vehicle propel the growth of this market. The significant growth of automotive industry across the globe and increasing demand of vehicles are propelling the market growth. Rules and regulations enforced by ruling authorities regarding CO2 emission and safety of environment fuel the growth of the market. Increasing demand of ride-sharing vehicles with reducing parking space are boosting the demand of ride-hailing market throughout the forecast period.

However, low rate of penetration of internet in developing nations considerably hinder the growth of the market. The impact of COVID-19 on world economy also affect the automobile and services sectors. The trend of work-from-home reduced the demand of ride sharing. The cost of sanitization added and fluctuating fuel cost, resulting in the increase of overall cost of riding which hinder the growth of the market. Availability of several competitors and introduction of new start-ups are the major factors hampering the growth of the market over the forecast period.

Global Ride-hailing Market: Market Segmentation
In leasing car services, companies lease vehicle to utilize it for specific period of time which saves the maintenance and buying cost of vehicle, so this segment is expected to grow with the highest CAGR during the forecast period. In terms of revenue, the intra-city segment is accounted for the major shareholder of this market. Increasing number of daily commuters, lack of punctuality of public transport, the intra-city segment is expected to grow during the forecast period. The four wheeler segment of vehicle is dominating the ride-hailing market as widely used in ride-hailing services due to its high efficiency.

Global Ride-hailing Market: Regional Analysis
Asia Pacific is dominating the global ride-hailing market due to rapid urbanization, and high share of automotive industry. Increase in the number of automotive manufacturing industries in emerging nations such as India and China are driving the Ride-hailing market during the forecast period. Presence of ride-hailing services provider companies boost the growth of the ride-hailing market in this region. Besides, the high production of passenger vehicles in this region and rapid expansion of automotive industry in countries like South Korea, China, and India is likely to drive the market. Increasing the per capita income and rising penetration of internet, and rise in usage of smartphones are anticipated to drive the market in this region.

The objective of the report is to present a comprehensive analysis of the Global Ride-hailing Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Ride-hailing Marketdynamics, structure by analysing the market segments and projects the Global Ride-hailing Marketsize. Clear representation of competitive analysis of key players by Commuting distance, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Ride-hailing Market make the report investor’s guide.
Scope of the Global Ride-hailing Market

Global Ride-hailing Market, by Type

• Ride sharing
• Ride sourcing
• Leasing car
Global Ride-hailing Market, by Vehicle type

• Two wheelers
• Three wheelers
• Four wheelers
Global Ride-hailing Market, by Commuting distance

• Intra-city
• Outer-city
Global Ride-hailing Market, by Region

• Asia Pacific
 China
 India
 Japan
 South Korea
 Australia
 Indonesia
 Malaysia
 Vietnam
 Rest of Asia
• North America
 U.S.
 Canada
• Europe
 Germany
 UK
 France
 Italy
 Spain
 Rest of Europe
• South America
 Brazil
 Mexico
 Rest of South America
• Middle East & Africa
 GCC
 South Africa
 Rest of MEA
Global Ride-hailing Market, Key Players

• ANI Technologies Pvt. Ltd. (OLA)
• Lyft, Inc.
• WeTrott
• Careem
• SkedGo Pty Ltd.
• Uber Technologies Inc.
• Taxify OÜ
• BlaBlaCar
• Gett, Grab
• Beijing Xiaoju Technology Co, Ltd.
• TomTom NV
• Wingz, Inc.
• Zipcar
• Curb Mobility
• Cabify

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