PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484683
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484683
Ride-Hailing Market Size and Share Analysis by Vehicle Type (Economy, Executive, Luxury), Commuting Pattern (Daily/Weekly, Monthly, Occasionally), End User (Personal, Business) - Global Industry Revenue Estimation and Demand Forecast to 2030
Key Highlights
The ride-hailing market generated a value of USD 153.3 billion in 2023, which will rise to USD 248.3 billion, powering at a 6.1% compound annual growth rate, by 2030.
The rising advancement of information technology and smartphones has resulted in a substantial transformation in the transportation and travel sector.
The ride-sharing service needs three parties to function, specifically, service providers, drivers, and passengers.
The trend of passengers choosing car-sharing services in emerging economies like Vietnam, India, and China has improved, together with the high requirement in developed nations like the U.S. and the U.K.
This has encouraged businesses to enhance their mobile app selection and increase operations to uphold their respective share in a very competitive industry.
A major driver of this industry is on-demand transportation services that offer inclusive real-time feedback on vehicles and drivers.
It also provides innovative features like panic/SOS buttons and precise location tracking, making the ride safer for passengers.
Growing government initiatives on digitization have resulted in a significant transformation in the transportation industry.
The carpooling marketplace provides passengers with different payment choices as per their suitability, online or cash.
These service providers receive payments through online banking, digital wallets, and various other electronic payment means.
Market Insights
North America is likely to advance at the fastest compound annual growth rate, of 8%, during this decade.
The industry is characterized by strong competition between recognized players like Lyft and Uber and evolving regional providers.
The continent has a complex regulatory situation, such as an emphasis on sustainability, safety, and compliance with local rules.
APAC is advancing at an explosive compound annual growth rate, because of the surging middle-class populace, swift technology adoption, and urbanization.
Local providers regularly compete with global ride-hailing players, and services can be tailored to local preferences as well as payment methods.
The economy category was the largest contributor to the industry in 2023, with approximately 80% share.
This can be because more automobiles in this category operate compared to full-size and luxury automobiles.
Numerous users prefer short-to-medium distance ride-sharing services; thus, they select a cheap car without spending too much.
Economy ride-hailing services are intended to be cost-effective automobiles like compact cars. These services appeal to drivers who prefer affordability over luxury and are ideal for short trips and daily commutes.
The daily/weekly category will be the largest contributor to the industry. Those who mainly use these services for their daily transport necessities choose the weekly or daily transport.
It provides an adaptable and practical substitute for personal automobile ownership.
The individual accounts for the largest share of the industry. It is usually employed for regular errands like visiting companions, going to work, and going to the supermarket.
The ride-hailing industry is consolidated in nature. Over the years, many businesses have entered this industry and increased their services.
For instance, Uber Technologies introduced its Uber Comfort, a new ride tier that provides consumers access to fast rides, highly rated drivers at a premium price, and vehicle temperature control.
The service was introduced in 44 cities in 3 US states: Connecticut, Rhode Island, and New Jersey.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by vehicle type
- 1.4.2. Market size breakdown, by commuting pattern
- 1.4.3. Market size breakdown, by end user
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Vehicle Type (2017-2030)
- 6.3. Market Revenue, by Commuting Pattern (2017-2030)
- 6.4. Market Revenue, by End User (2017-2030)
- 6.5. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Vehicle Type (2017-2030)
- 7.3. Market Revenue, by Commuting Pattern (2017-2030)
- 7.4. Market Revenue, by End User (2017-2030)
- 7.5. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Vehicle Type (2017-2030)
- 8.3. Market Revenue, by Commuting Pattern (2017-2030)
- 8.4. Market Revenue, by End User (2017-2030)
- 8.5. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Vehicle Type (2017-2030)
- 9.3. Market Revenue, by Commuting Pattern (2017-2030)
- 9.4. Market Revenue, by End User (2017-2030)
- 9.5. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Vehicle Type (2017-2030)
- 10.3. Market Revenue, by Commuting Pattern (2017-2030)
- 10.4. Market Revenue, by End User (2017-2030)
- 10.5. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Vehicle Type (2017-2030)
- 11.3. Market Revenue, by Commuting Pattern (2017-2030)
- 11.4. Market Revenue, by End User (2017-2030)
- 11.5. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Vehicle Type (2017-2030)
- 12.3. Market Revenue, by Commuting Pattern (2017-2030)
- 12.4. Market Revenue, by End User (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Vehicle Type (2017-2030)
- 13.3. Market Revenue, by Commuting Pattern (2017-2030)
- 13.4. Market Revenue, by End User (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Vehicle Type (2017-2030)
- 14.3. Market Revenue, by Commuting Pattern (2017-2030)
- 14.4. Market Revenue, by End User (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Vehicle Type (2017-2030)
- 15.3. Market Revenue, by Commuting Pattern (2017-2030)
- 15.4. Market Revenue, by End User (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Vehicle Type (2017-2030)
- 16.3. Market Revenue, by Commuting Pattern (2017-2030)
- 16.4. Market Revenue, by End User (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Vehicle Type (2017-2030)
- 17.3. Market Revenue, by Commuting Pattern (2017-2030)
- 17.4. Market Revenue, by End User (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Vehicle Type (2017-2030)
- 18.3. Market Revenue, by Commuting Pattern (2017-2030)
- 18.4. Market Revenue, by End User (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Vehicle Type (2017-2030)
- 19.3. Market Revenue, by Commuting Pattern (2017-2030)
- 19.4. Market Revenue, by End User (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Vehicle Type (2017-2030)
- 20.3. Market Revenue, by Commuting Pattern (2017-2030)
- 20.4. Market Revenue, by End User (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Vehicle Type (2017-2030)
- 21.3. Market Revenue, by Commuting Pattern (2017-2030)
- 21.4. Market Revenue, by End User (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Vehicle Type (2017-2030)
- 22.3. Market Revenue, by Commuting Pattern (2017-2030)
- 22.4. Market Revenue, by End User (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Vehicle Type (2017-2030)
- 23.3. Market Revenue, by Commuting Pattern (2017-2030)
- 23.4. Market Revenue, by End User (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Vehicle Type (2017-2030)
- 24.3. Market Revenue, by Commuting Pattern (2017-2030)
- 24.4. Market Revenue, by End User (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Vehicle Type (2017-2030)
- 25.3. Market Revenue, by Commuting Pattern (2017-2030)
- 25.4. Market Revenue, by End User (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Vehicle Type (2017-2030)
- 26.3. Market Revenue, by Commuting Pattern (2017-2030)
- 26.4. Market Revenue, by End User (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Vehicle Type (2017-2030)
- 27.3. Market Revenue, by Commuting Pattern (2017-2030)
- 27.4. Market Revenue, by End User (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Vehicle Type (2017-2030)
- 28.3. Market Revenue, by Commuting Pattern (2017-2030)
- 28.4. Market Revenue, by End User (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. DiDi Global Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Uber Technologies Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Grab Holdings Inc.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. OLA Cabs
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Yandex Taxi B.V.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Gett Inc.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. FREE NOW
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. inDrive
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. RideCekk Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Bolt Technology OU
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. VOXTUR SAS
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
- 30.12. Addison Lee Ltd.
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
- 30.13. Aptiv PLC
- 30.13.1. Business overview
- 30.13.2. Product and service offerings
- 30.13.3. Key financial summary
- 30.14. BlaBlaCar
- 30.14.1. Business overview
- 30.14.2. Product and service offerings
- 30.14.3. Key financial summary
- 30.15. Lyft Inc.
- 30.15.1. Business overview
- 30.15.2. Product and service offerings
- 30.15.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
