Global Ride Hailing Service Market (2019-2025) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Latest 2023 Developments of the Global Ride Hailing Service Market

Global Ride Hailing Service Market developments include the cooperation of Shouqi Limousine and Chauffeur with Alibaba Cloud in April 2020 leveraging innovation advantages to build a new industry ecosystem of 5G Internet of Vehicles. In January 2020, Didi Chuxing launched its first electric shared vehicle fleet through its app. Estonian ride-hailing firm Bolt to develop face verification and use machine learning to prevent potential incidents. In July 2020, Lyft launched The Lyft pass which enabled a means to allow organizations to cover the costs of rides for their people – from employees and essential workers to customers, guests, and patients – while prioritizing safety, convenience, and flexibility.

Mergers and Acquisitions:

• OLA acquired Pikup on 13 August 2019
• Uber acquired Transplace on 22 July 2021
• Uber acquired Autolab on 06 August 2020
• Lyft acquired Halo Cars on 21 Feb 2020
• Lyft acquired Flexdrive on 11 Feb 2020

Global Ride Hailing Service Market Synopsis

The global Ride-Hailing Service market is driven by rising vehicle and fuel prices, supportive government policies, booming tourism sector, and growing penetration of digitization platforms. The various service providers such as Ola, Uber, Lyft, etc. have facilitated numerous innovations such as vehicle tracking, feedback, and rating systems to ensure passenger safety and comfort for bolstering the growth of the ride-hailing service market. Moreover, the increasing preference among office commuters for carpooling and bike-sharing services which would also reduce urban traffic congestion has further fueled the market demand.

According to 6Wresearch, the Global Ride-Hailing Service Market size is expected to witness significant growth during 2019-2025. North America is anticipated to dominate the global ride-hailing service market followed by the APAC region. Surging penetration of the internet coupled with the growing acceptance of ride-hailing services has led to growth in the North America ride-hailing service market. Uber, has announced a pilot project “Uber Elevate” to deliver an aerial rideshare network by 2023 to avoid road congestion and for the protection of the environment. Moreover, the demonetization in November 2016 India offered an advantage to the ride-hailing service provider companies due to the convenience of payment through digital modes, which further escalated the demand for the services post-demonetization.

Based on the service type, the E-hailing segment is expected to maintain its dominance during the forecast period. By making use of maps for navigation and apps related algorithms for fare estimation, E- hailing services have made travelling very convenient and user-friendly by offering trained drivers at the doorsteps of the passengers.

global ride-hailing services market report thoroughly covers the market by its vehicle types, service types, and regions including North America, Europe, APAC, Latin America, and the rest of the world and key countries. Global ride-hailing services market outlook report provides an unbiased and detailed analysis of the Global Ride-Hailing Services market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their strategies accordingly to the future and current market dynamics.

The global ride-hailing service market is projected to witness progressive growth during the forecast period 2020-26F backed by rising urbanization which is leading to increased modern infrastructure, and expansion of the road which would boost the adoption for ride-hailing services globally in the upcoming six years. Moreover, On the basis of region, the Asia Pacific ride-hailing service market is expected to dominate the overall market revenues owing to the rising penetration of smartphones which is expected to stimulate passengers towards more use of ride-hailing service and is expected to provide more convenience for a hassle-free ride which would benefit Global ride-hailing service market garner the substantial growth in the coming years.

The global ride-hailing service market is projected to gain traction in the upcoming six years on the back of the rising growth of the urban population. Additionally, Based on the vehicle type, four-wheeler ride-hailing service is estimated to accumulate high sales revenues underpinned by the increased need for sharing cab facility, on the other hand, Millennials create more demand for easy and convenient ride facility and is estimated to boost growth of the global ride-hailing service market in the forthcoming years. Some major key players operating in the global ride-hailing service market are city hot, Lyft Inc, Orix Corporation, Grab Holdings Inc and BMW AG.

Key Highlights of the Report:

• Global Ride-Hailing Services Market Overview
• Global Ride-Hailing Services Market Outlook
• Global Ride-Hailing Services Market Forecast
• Historical Data of Global Ride-Hailing Services Revenues for the Period 2015-2018
• Global Ride-Hailing Services Market Size and Forecast of Revenues, Until 2025
• Historical Data of Global Ride-Hailing Services Market Revenues, By Vehicle Types, for the Period 2015-2018
• Market Size & Forecast of Global Ride-Hailing Services Market Revenues, By Vehicle Types, until 2025
• Historical Data of Global Ride-Hailing Services Market Revenues, By Service Types, for the Period 2015-2018
• Market Size & Forecast of Global Ride-Hailing Services Market Revenues, By Service Types, until 2025
• Historical Data of North America Ride-Hailing Services Market Revenues, for the Period 2015-2018
• Market Size & Forecast of North America Ride-Hailing Services Market Revenues, until 2025
• Historical Data of Europe Ride-Hailing Services Market Revenues, for the Period 2015-2018
• Market Size & Forecast of Europe Ride-Hailing Services Market Revenues, until 2025
• Historical Data of APAC Ride-Hailing Services Market Revenues, for the Period 2015-2018
• Market Size & Forecast of APAC Ride-Hailing Services Market Revenues, until 2025
• Historical Data of Latin America Ride-Hailing Services Market Revenues, for the Period 2015-2018
• Market Size & Forecast of Latin America Ride-Hailing Services Market Revenues, until 2025
• Market Drivers and Restraints
• Global Ride-Hailing Services Market Trends and Industry Life Cycle
• Global Ride-Hailing Services Market Share, By Regions
• Global Ride-Hailing Services Market Share, By Players
• Global Ride-Hailing Services Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Global Ride-Hailing Services Market report provides a detailed analysis of the following market segments:

By Vehicle Types:

• Two-Wheeler
• Three-Wheeler
• Four-Wheeler
• Others

By Services:

• E-Hailing
• Car Sharing
• Rental

By Regions:

• North America
• Europe
• APAC
• Latin America
• Rest of Global