Latest News- Ride Hailing Services Market: Car sharing is expected to lead the Application segment during 2025-2029

The Ride Hailing Services Market is being driven by Rising use of online ride hailing services

The Ride Hailing Services Market is expected to grow at a CAGR of 16.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 102184.1 million. The global ride hailing services market is experiencing robust growth, marked by an increasing trend of strategic alliances and partnerships among competitors operating in diverse geographies and collaborations with complementary ride hailing service providers. Mergers and acquisitions are a prominent strategy, enabling companies to expand their geographic reach and strengthen their market position. By acquiring established local players or forging partnerships, these firms can swiftly penetrate new territories and fortify their presence in existing markets. Mergers and acquisitions also offer an opportunity to augment offerings, enriching companies' portfolios with new services. 

Get more information on Ride Hailing Services Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Car sharing
  • E-hailing
• Mode Of Booking
  • Online
  • Offline
• Vehicle Type
  • Four wheelers
  • Two wheelers
  • Three wheelers
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising use of online ride hailing services
• Increasing smartphone and internet penetration of ride hailing services
• Rapid growth in urbanization

However, the market also witnesses some limitations, which are as follows:

• Compliance with government regulations in ride hailing services
• Issues related to safety of passengers
• Rise in data security issues in ride hailing services

Benefits of Buying Global Ride Hailing Services Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Ride Hailing Services Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The EU's Court of Justice rules on fleet conversion for ride-hailing services like Uber, Bolt, Meru cabs, Grab, BluSmart Mobility, Didi Chuxing, and others, as they transition to electric vehicles (XPRES-T EV units) for ride sharing. The transportation sector, including automobile journeys, faces measures to combat emissions, congestion, and the spread of the virus through self-driving cars, sanitizers, and digital thermometers. D1 Capital Partners invests in EV fleets to support the sector amid worldwide lockdowns.

Market Research Overview

The European Union's Court of Justice ruling on the status of ride-hailing companies, such as Uber and Bolt, has significant implications for the global passenger ground transportation market. This market encompasses businesses involved in passenger ground transportation and associated services, including taxi, bus, vehicle rental, ridesharing platforms, and on-demand ride-sharing services, as well as other passenger logistics. According to Technavio, the market size is determined by the consolidated revenue of companies operating within the passenger land transportation sector. Factors fueling market growth include the increase in disposable income and the growing availability of self-driving car rentals, revolutionizing travel methods for consumers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/