Global Ride Hailing Services Market Report 2025 size is projected to touch USD 82.37 billion by 2025, according to a new report by Million Insights. The market is estimated to grow at a CAGR of 12.8% over the forecast duration. Increasing focus on reducing congestion and vehicle emission is attributing to the market growth. These services are witnessing rapid adoption owing to convenience, safety and easy accessibility. Further, factors such as increasing demand from office commuters and the low cost of travelling are supplementing the market growth.
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Market Synopsis of Ride Hailing Services Market:
Considering the growing demand for such services from emerging countries, key players are focusing on expanding their market penetration. For instance, TukTuk-Ride introduced a ride-hailing application in major cities in India. The company charges INR 14 for one kilometer for cab services while INR 8 for bike services. The company is further planning to incorporate various other vehicles such as e-bikes, luxury cars, ambulances and others. In another development, U.S based Alto introduced ride-hailing services with the help of funding it generated from companies such as Frog Ventures and Road Ventures. Further, the company is aiming to expand in other cities in the United States by the end of 2019.
By offering type, E-hailing services occupied the largest share, in 2018 with over 50%. Features such as easy to use, one-tap booking and easy navigation are attributing to its market growth. However, rental services are likely to be the fastest-growing segment owing to its growing demand from emerging countries. These services are cost-effective and attract millennials, thereby, proliferating the ride hailing services market growth.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Ride Hailing Services: Market Variables, Trends & Scope
Chapter 4 Ride Hailing Services: Product Estimates & Trend Analysis
Chapter 5 Ride Hailing Services: Application Estimates & Trend Analysis
Chapter 6 Ride Hailing Services: End-use Estimates & Trend Analysis
Chapter 7 Ride Hailing Services: Industrial End-use Estimates & Trend Analysis
Chapter 8 Ride Hailing Services: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Ride Hailing Services: Manufacturers Company Profiles
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