Global Ride-Hailing Service Market Expected to Reach $126,521 Million by 2025

The global ride-hailing service market was valued at $36,450.0 million in 2017, and is projected to reach $126,521.2 million by 2025, registering a CAGR of 16.5% from 2018 to 2025. North America was the highest contributor to the global market in 2017 garnering a CAGR of 12.7% during the forecast period.

Ride-hailing service enables passengers to hail a vehicle using online platforms such as Grab, Lyft, Uber, and Ola. It serves as one of the most comfortable means of transportation, as it provides door-to-door services. Moreover, while hailing a ride, information of the passenger and the driver is exchanged, making this service safer than traditional taxi services.

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The growth of the global ride-hailing service market is driven by rise in trend of on-demand transportation services, creation of employment opportunities, and low rate of car ownership among millennials. In addition, advancements in connected & automatic vehicles to reduce CO2 emission and substantial increase in sales of these vehicles for the use of ride-hailing services propel the global market growth.

However, low rate of internet penetration in developing regions considerably hampers the growth of the market. Moreover, enforcement of stringent government policies toward ride-hailing service restrains the market growth. For instance, the Bombay High Court recently took action against ride-hailing service providers such as Uber and Ola in Kolkata, Bhopal, and Mumbai, due to unnecessary hike in their service pricing. On the contrary, rise in trend of mobility-as-a-service and increase in user base of ride sharing services across the globe are expected to create lucrative opportunities for the market players.

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The key players operating in the global ride-hailing service market include Uber Technologies Inc., Lyft, Inc., Daimler AG., Grab, ANI Technologies Pvt. Ltd., Didi Chuxing Technology Co., nuTonomy, Denso Corporation, TomTom NV, and Gett, Inc.

The global ride-hailing service market is segmented based on service type, vehicle type, location, end user, and region. E-hailing, car rental, car sharing, and station-based mobility are studied under the service type segment. On the basis of vehicle type, the market is categorized into two-wheeler, three-wheeler, four-wheeler, and others. Depending on location type, it is bifurcated into urban and rural. According to end user, it is segregated into institutional and personal. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key factors that drive the growth of the global ride-hailing service industry are rise in trend of on-demand transportation services, creation of employment opportunities, and lower rate of car ownership among millennials. However, low rate of internet penetration in developing regions and stringent government policies for ride-hailing service are some of the major restraining factors of this market.

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On-demand service comprise taxis, passenger vehicles, and charter vehicles, which provide real-time feedback, tracking of vehicle, and rating for service experience provision to end customers. Ride-hailing services ensure that customers can accurately locate the vehicles and track their journey alongside offer safety to the occupants, which in turn is expected to significantly drive the market growth. Abundant availability of cars and comparison of fare with correspondents facilitated by many mobile applications further drive the growth of the market.

Table of Content:

Chapter: 1: INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2: EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3: MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET SHARE ANALYSIS, 2017 (%)
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Rising trend of on-demand transportation services
3.5.1.2. Employment opportunities
3.5.1.3. Lower rate of car ownership among millennials

3.5.2. Restraint

3.5.2.1. Low Rate of Internet Penetration in Developing Regions

3.5.3. Opportunities

3.5.3.1. Mobility as a service
3.5.3.2. Increasing user base for ride sharing

Chapter: 4: RIDE HAILING SERVICE MARKET, BY SERVICE TYPE

4.1. OVERVIEW
4.2. E-HAILING

4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis by country

4.3. CAR SHARING

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis by country

4.4. CAR RENTAL

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis by country

4.5. STATION BASED MOBILITY

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market analysis by country

Chapter: 5: RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE

5.1. OVERVIEW
5.2. TWO WHEELER

5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis by country

5.3. THREE WHEELER

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis by country

5.4. FOUR WHEELER

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis by country

5.5. OTHERS

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market analysis by country

Chapter: 6: RIDE HAILING SERVICE MARKET, BY LOCATION

6.1. OVERVIEW
6.2. URBAN

6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis by country

6.3. RURAL

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis by country

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