Global Ride Hailing Service Market Value forecast, New Business Opportunities and Companies: Outlook by Type, Application, by End User and by Country, 2020-2026

Worldwide Market Reports added “Ride Hailing Service Market” to its vast collection of research Database. The report classifies the Global Ride Hailing Service Market in a precise manner to offer detailed insights into the aspects responsible for augmenting as well as restraining market growth.

Ride hailing service enables passengers to hail a vehicle using online platforms such as Ola, Lyft, and Uber. They are a convenient method for door-to-door transport in most instances. They are usually cheaper than using licensed taxicabs. Ride hailing services are regulated in some countries in the same way as regular taxicabs. Uber and Lyft are examples of ride-hailing services. Ride-hailing services are the same as hiring a taxi, the difference being, in ride-hailing, a vehicle is hired through a smartphone-based app.

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Increase in the adoption of ride hailing services in different industrial sectors such as food delivery, healthcare, freight business, and many other sectors are expected to drive growth of global ride hailing service market.

For instance, Uber contributes to the healthcare industry by offering safe and secure scheduled rides to the patients and caregivers with the Health Insurance Portability and Accountability Act (HIPPA) compliance.

Increasing adoption of electrification in ride-hailing vehicles is expected to drive the global ride hailing service market.

For instance, according to the International Council on Clean Transportation, in 2017, Didi Chuxing, a Chinese transportation company, was leading the cutting age revolution of eco-friendly measures acquiring around 260,000 electric vehicles recently, which equals 1.3% of its total vehicles in China.
For instance, in 2019, Hyundai Motor Company announced that it would deploy a range of electric vehicles in Ola Cabs, in India by 2021.

Inadequate infrastructure for the deployment of ride-hailing services is expected to restrain the global ride hailing service market.

Regional insights:

Asia Pacific dominates global ride hailing service market due to the increased customer demand for ride-hailing services, and government concerns over environmental pollution were the factors for the market growth.

For instance, in 2018, Go-Jek launched its motorbike ride-hailing services in Vietnam, and another ride-hailing app from Mpos Vietnam Technology called FastGo launched its ride-hailing service in the same year.

Competitors section:

Key competitors in global ride hailing service market are ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Careem, Uber Technologies Inc., Taxify OÜ, Gett, Grab, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), Wingz, Inc, Curb Mobility, BlaBlaCar, and Cabify.

In July 2019, Uber Technologies Inc. launched Uber Comfort, a new ride tier, which would offer customers to access quick ride, control vehicle's air conditioning, and high rated drivers at a premium price.

In June 2019, DiDi Mobility Japan Corp., a joint venture by SoftBank Corp. and Beijing Xiaoju Technology Co. Ltd. (Didi Chuxing), announced the launch of its ride-hailing services in Hokkaido, Japan.

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