Ride-Hailing Service Market Share 2022-2027: Global Overview, Trends, Demand, Size, Analysis and Forecast Report

The latest research study by IMARC Group, “Ride-Hailing Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global ride-hailing service market. The global ride-hailing service market reached a value of US$ 145.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 260.34 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027.

Ride-Hailing Service Industry Outlook:

Ride-hailing service allows passengers to book customized rides via online platforms or transportation network companies (TNCs). It is a convenient and cost-effective door-to-door service that involves three parties, including the driver, passenger, and service providers. It offers a comfortable and safe trip to the passenger by allowing them to share travel information with friends and family, enabling tracking of the route in real time. It also offers mobility to senior citizens as well as people with disabilities. As a result, ride-hailing services are gaining immense traction across the globe as they are safer than traditional taxi services and provide flexible routing and ad-hoc scheduling of private automobiles.

Ride-Hailing Service Market
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Market Trends:

The global ride-hailing service market is primarily driven by the rising trend of on-demand transportation services and increasing tourism activities. Moreover, the shifting preferences of regular office commuters toward carpooling and bike-sharing services to cut their expense of gas and parking are positively influencing the market growth.

Additionally, there has been surging adoption of ride-hailing services as it allows riders to travel with comfort at discounted prices and improve air quality by reducing the number of cars and traffic on the road. Besides this, the escalating demand for ride-hailing services owing to the flexibility to choose convenient pick-up and drop locations has catalyzed market growth. Furthermore, governments of numerous countries have taken several favorable initiatives to promote digital payments.

In line with this, the availability of various payment options offered by ride-hailing companies, such as digital wallets, unified payment interfaces (UPI), net banking, and other e-payment methods, is contributing to the market growth. Other factors, including the emergence of mobility-as-a-service (MaaS), rapid modernization in the automobile sector, rising adoption of autonomous vehicles in ride-hailing services, and the expanding working population, are also anticipated to drive the market further.

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Ride-Hailing Service Market Report Scope

Report Coverage

Details

Market size value in 2021

US$ 145.21 Billion

Market forecast in 2027

US$ 260.34 Billion

Growth Rate

CAGR of 9.60% from 2022 to 2027

Base year for estimation

2021

Historical data

2016-2021

Forecast period

2022-2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


Key Market Segmentation:

The report has segmented the global ride-hailing service market on the basis of vehicle type, service type, payment method, location type, end user and region.

Breakup by Vehicle Type:

• Two-wheeler

• Three-wheeler

• Four-wheeler

• Others

Breakup by Service Type:

• E-hailing

• Car Sharing

• Car Rental

• Others

Breakup by Payment Method:

• Cash

• Online

Breakup by Location Type:

• Urban

• Rural

Breakup by End User:

• Personal

• Commercial

Breakup by Geography:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are Aptiv PLC, Be Group JSC, BlaBlaCar, Bolt Technology OÜ, FREE NOW, Gett, Grab, InDriver, Lyft Inc., Ola Cabs, Ridecell Inc., TomTom N.V. and Uber Technologies Inc.

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:

Company Name: IMARC Group

Contact Person: Elena Anderson

Phone: +1-631-791-1145

Address: 30 N Gould St Ste R

City: Sheridan

State:  WY

Country: United States

Website: https://www.imarcgroup.com

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