The Objective of the “Global Ride-Hailing Service Market” report is to depict the trends and upcoming for the Ride-Hailing Service industry over the forecast years. Ride-Hailing Service Market report data has been gathered from industry specialist/experts. Although the market size of the market is studied and predicted from 2019 to 2025 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
Rising trend of on-demand transportation services, high-end employment opportunities and a lower rate of car ownership among millennials have fueled the growth of the global ride-hailing service market. On the other hand, the low rate of internet penetration in developing regions hamper the growth to some extent. However, mobility as a service and increasing user base for ride-sharing have created multiple opportunities in the segment.
According to the report published by Allied Market Research, the global ride-hailing service market was estimated at $36.45 billion in 2017 and is expected to hit $126.52 billion by 2025, growing at a CAGR of 16.5% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
E-hailing service segment to account for major revenue share by 2025
The e-hailing service segment accounted for more than one-third of the total market share in 2017, owing to the growing presence of tech giants across emerging economies and increase in demand for transportation services. This segment is expected to maintain its dominance by 2025. However, the station-based mobility segment would grow at the fastest CAGR of 22.7% from 2018 to 2025, owing to rise in the user base of ride-sharing services and supportive government initiatives for ride hailing services. The other service types analyzed in the study include car rental and car-sharing.
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The institutional segment to sustain its dominance during the period-
Based on end-user, the institutional segment contributed to more than two-thirds of the total market share in 2017 and is anticipated to maintain its top status till 2025. Simultaneously, the personal segment would grow at the highest CAGR of 18.2% throughout the estimated period.
North America to be the highest revenue contributor
Rise in demand for transportation services and large population base are the key factors that have enabled the Asia-Pacific region to grow at the fastest CAGR of 20% from 2018 to 2025. However, North America was the highest revenue contributor in 2017, accounting for more than one-third share of the market owing to continuous developments, technological advancements, and supportive government initiatives. This region is expected to continue its dominance throughout the forecast period.
Frontrunners of the industry have adopted various strategies such as expansion, joint ventures, mergers & acquisitions, collaborations, partnerships, and others to gain a stronghold in the industry.
- Uber Technologies Inc.
- Daimler AG.
- Lyft Inc.
- ANI Technologies Pvt. Ltd.
- Didi Chuxing Technology Co.
- TomTom NV
- Denso Corporation
- Gett Inc.
These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
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Key questions answered in the Ride-Hailing Service Market research report:
- What is the growth rate of the Ride-Hailing Service Market during the forecast period?
- What will be the global Ride-Hailing Service Market size from 2019 to 2025?
- What are the leading manufacturing companies in the Ride-Hailing Service Market?
- How the major current trends will shape the market in the future?
- What are the driving factors and opportunities in the Ride-Hailing Service Market?
- Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
- Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
- What are the conclusions of the Ride-Hailing Service Market report?
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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