North America Ride Hailing Market to Surpass $ 35 Billion by 2023

Increasing preference of millennials for ride hailing or e-hailing services, ease of booking, enhanced passenger comfort and surging internet penetration to drive the North America ride hailing market through 2023  

According to TechSci Research report, “North America Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023”, ride hailing market in North America is projected to reach $ 35 billion by 2023, on the back of increasing inclination of people towards cab services in the region. Rising air pollution levels owing to the growing fleet of automobiles, in addition to development of autonomous and semi-autonomous vehicles and increasing number of collaborations between OEMs and ride hailing service providers would have a positive impact on the region’s ride hailing market in the coming years.

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With a value share of more than 95% in ride hailing market across the North America region, passenger cars are the most preferred vehicle type for ride hailing services, followed by the micro mobility vehicles segment. Uber Technologies Inc., Lyft Inc. and Didi Chuxing are among the key players operating in the region’s ride hailing market. Most of the leading players are investing heavily to develop and expand their ride hailing services network across the region, which is likely to further aid market growth during the forecast period.

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Increasing preference of millennials for ride hailing or e-hailing services on account of enhanced ride comfort and convenience is expected to continue augmenting demand for ride hailing services in North America during the forecast period. “United States accounted for the largest share in North America ride hailing market in 2017 and over the coming years as well, the country is anticipated to maintain its market dominance, owing to expanding internet penetration and robust road infrastructure.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

North America Ride Hailing Market 2023 | TechSci Research from TechSci Research

“North America Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023” has analyzed the potential of ride hailing market across the region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

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