Ride Hailing Market to Reach a Staggering $ 136 Billion by 2023
Ease of booking, enhanced passenger comfort, favorable government policies and rising internet penetration to fuel global ride hailing market through 2023
According to TechSci Research report, “Global Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, Competition Forecast & Opportunities, 2017-2023”, the ride hailing market across the globe is projected to cross $ 136 billion by the end of 2023. Growth in the market is anticipated on account of growing urbanization and rising popularity of ride hailing services. Also, increasing preference of millennials for ride hailing or e-hailing services, development of semi-autonomous and autonomous vehicles, and surging internet penetration are anticipated to boost demand for ride hailing services, globally, over the coming years.
Browse 187 Figures spread through 265 Pages and an in-depth TOC on “Global Ride Hailing Market”
Uber Technologies Inc., Lyft Inc. and Didi Chuxing are among the leading players operating in the global ride hailing market. With a value share of around 95% in 2017, passenger car segment dominated the global ride hailing market in terms of vehicle type. As more and more people are inclining towards passenger car sharing due to its cost effectiveness, the segment is expected to maintain its dominance in the market during the forecast period as well. Asia-Pacific is the largest demand generator for ride hailing services across the globe, backed by the presence of huge population, strong automobile sales and shifting trend from traditional taxis to ride hailing services in the region.
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“Growing collaboration between OEMs and ride hailing service providers such as investments by BMW in Scoop and acquisition of RideScout and myTaxi by Daimler, are being witnessed in the global ride hailing marketplace. On the demand side, increasing consumer preference for ride hailing services instead of traditional taxis would aid the global ride hailing market over the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, Competition Forecast & Opportunities, 2017-2023” has analyzed the potential of ride hailing market across the globe, 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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