Ride-Hailing Service Market Expected to Reach $1,112 Million By Top Key Players: Uber Technologies Inc., Lyft, Inc., Daimler AG., Grab, ANI Technologies Pvt. Ltd., Didi Chuxing Technology Co., nuTonomy, Denso Corporation, TomTom NV, and Gett, Inc.

In 2017, the e-hailing segment dominated the global ride hailing service market in terms of revenue, in the service type category. However, the three-wheeler segment is expected to grow at the highest CAGR during the forecast period. Based on location, the urban segment is anticipated to dominate the market throughout the forecast period. The ride-hailing service market signifies a promising future for the technological industry. The current business scenario has witnessed an increase in the adoption of this technology, particularly in developing regions. Moreover, key companies have been adopting innovative techniques to provide customers with advanced and innovated product offerings.

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.

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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.

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.

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.

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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. On the contrary, the market is expected to witness significant growth in the near future, owing to increase in trend of mobility-as-a-service and upsurge in users for ride sharing across the globe. Each of these factors is anticipated to have a definite impact on the global ride-hailing service market during the forecast period.

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. For instance, in August 2017, the launch of Migo, a Seattle-based search engine for on-demand ride services mobile application, enabled users to compare the locations and prices of nearby taxis and car-sharing & ride-hailing companies at a single platform.

LIST OF TABLES

TABLE 01. GLOBAL RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025($MILLION)
TABLE 02. RIDE HAILING SERVICE MARKET REVENUE FOR E-HAILING, BY REGION 2017-2025 ($MILLION)
TABLE 03. RIDE HAILING SERVICE MARKET REVENUE FOR CAR SHARING, BY REGION 2017-2025 ($MILLION)
TABLE 04. RIDE HAILING SERVICE MARKET REVENUE FOR CAR RENTAL, BY REGION 20172025 ($MILLION)
TABLE 05. RIDE HAILING SERVICE MARKET REVENUE FOR STATION BASED MOBILITY, BY REGION 20172025 ($MILLION)
TABLE 06. GLOBAL RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025($MILLION)
TABLE 07. RIDE HAILING SERVICE MARKET REVENUE FOR TWO WHEELER, BY REGION 2017-2025 ($MILLION)
TABLE 08. RIDE HAILING SERVICE MARKET REVENUE FOR THREE WHEELER, BY REGION 2017-2025 ($MILLION)
TABLE 09. RIDE HAILING SERVICE MARKET REVENUE FOR FOUR WHEELER, BY REGION 20172025 ($MILLION)
TABLE 10. RIDE HAILING SERVICE MARKET REVENUE FOR OTHERS, BY REGION 20172025 ($MILLION)
TABLE 11. GLOBAL RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025($MILLION)
TABLE 12. RIDE HAILING SERVICE MARKET REVENUE FOR URBAN, BY REGION 2017-2025 ($MILLION)
TABLE 13. RIDE HAILING SERVICE MARKET REVENUE FOR RURAL, BY REGION 2017-2025 ($MILLION)
TABLE 14. GLOBAL RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 15. RIDE HAILING SERVICE MARKET REVENUE FOR INSTITUTIONAL, BY REGION, 2017-2025 ($MILLION)
TABLE 16. RIDE HAILING SERVICE MARKET REVENUE FOR PERSONAL, BY REGION 2017-2025 ($MILLION)
TABLE 17. NORTH AMERICAN RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 18. NORTH AMERICAN RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 19. NORTH AMERICAN RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 20. NORTH AMERICAN RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 21. U. S. RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 22. U. S. RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 23. U. S. RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 24. U.S. RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 25. CANADA RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 26. CANADA RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 27. CANADA RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 28. CANADA RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 29. MEXICO RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 30. MEXICO RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 31. MEXICO RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 32. MEXICO RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 33. EUROPEAN RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 34. EUROPEAN RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 35. EUROPEAN RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 36. EUROPEAN RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 37. U.K. RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 38. U.K. RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 39. U.K. RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 40. U.K. RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 41. GERMANY RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 42. GERMANY RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 43. GERMANY RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 44. GERMANY RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 45. FRANCE RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 46. FRANCE RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 47. FRANCE RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 48. FRANCE RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 49. RUSSIA RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 50. RUSSIA RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 51. RUSSIA RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 52. RUSSIA RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 53. REST OF EUROPE RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 54. REST OF EUROPE RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 55. REST OF EUROPE RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 56. REST OF EUROPE RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 57. ASIA-PACIFIC RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 58. ASIA-PACIFIC RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 59. ASIA-PACIFIC RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 60. ASIA-PACIFIC RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 61. CHINA RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 62. CHINA RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 63. CHINA RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 64. CHINA RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 65. JAPAN RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 66. JAPAN RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)
TABLE 67. JAPAN RIDE HAILING SERVICE MARKET, BY LOCATION, 2017-2025 ($MILLION)
TABLE 68. JAPAN RIDE HAILING SERVICE MARKET, BY END USER, 2017-2025 ($MILLION)
TABLE 69. INDIA RIDE HAILING SERVICE MARKET, BY SERVICE TYPE, 2017-2025 ($MILLION)
TABLE 70. INDIA RIDE HAILING SERVICE MARKET, BY VEHICLE TYPE, 2017-2025 ($MILLION)

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