Ride Hailing Market Trending With Growing Inclination towards Electric Vehicles

The e-hailing segment is projected to grow at a CAGR of 19.87%, while the global demand for ride hailing services will continue to experience a CAGR of 18.45% during the forecast period 2019-2025.

The rising population has led to rapid urbanization, and has subsequently increased the demand for good transport facilities for accomplishing core tasks. With the advent of ride hailing services, the colossal amount of time spent on everyday commutes by cabs, buses, and metros has moderated gradually. Door-to door transport, car sharing, and car rental services are gaining huge demand now-a-days, specifically among the millennial population. IndustryARC’s newly published report states that the global ride hailing market generated $54.08 billion in revenue in 2018. As per the report, low-cost convenient mobility systems accompanied by peer-to-peer ridesharing facilities are luring the commuters worldwide, significantly boosting the global ride hailing market revenue. The APAC region accounted for 47.56% share of the global ride hailing market in 2018 owing to its vast population count and increase in developmental and constructional activities such as improved roadways and flyovers.

The report is titled “Ride Hailing Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019–2025.” This analysis is based on the vendor’s perspective of the global market and highlights specifications of revenue statistics, recent innovations, and geographical scenarios. This report covers Ride Hailing Market Size by Data Service and by Vehicle Type, Ride Hailing Market share by top 5 companies and also the market share by start-ups during the forecast period.

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Report Price (Single User): US $3850

Global Ride Hailing Market: Competitive Landscape:

E-hailing services are gaining demand due to advanced connected car technology, advanced and upgraded user-friendly apps, safer GPS navigation and tracking systems, and customer feedback response through chatbots. As per the report, the e-hailing segment is projected to grow at a CAGR of 19.87%, while the global demand for ride hailing services will continue to experience a CAGR of 18.45% during the forecast period 2019-2025.
The major transportation network companies (TNCs) in the ride hailing market include Ola, Lyft, Grab, Uber, Gett, DiDi, Lime, Herts, and BlaBlaCar. Ola is the leading mobility service provider in India, offering services such as ola bike, ola auto, car sharing, easy e-payment modes, and also Ola electric mobility for the safe and convenient traveling experience of riders.

Global Ride Hailing Market: Disruptive Trends and Growth Drivers:

While the growing population is a major factor influencing the ride hailing market globally, the employment opportunities provided by TNCs are boosting public demand across the world.
Increasing number of benefits that ridesharing services offer such as low vehicular emission and cost-efficient deals for the passengers are fuelling the global ride hailing market demand.
Growing investments in electric vehicles by the ride hailing service provider will boost the green technology usage and reduce pollution caused by automobiles and gain huge customer interest in the foreseeable years.
The trend set by Uber and Lyft to collaborate with healthcare facilities will gradually promote and expand businesses, consequently gaining immense popularity worldwide.

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Release ID: 88907511