Press release
Asia Pacific Ride-Hailing Service Market New Study Offers Insights for 2028 | Daimler AG, Didi Global Inc.,Gett, Grab Holdings Inc.
Ride-Hailing Service Market
The ride-hailing service market in Asia Pacific is further segmented into China, India, Japan, Australia, and South Korea. The region constitutes world’s Top 2 most populated countries—India and China. It is also characterized by significant developments in infrastructure and increase in purchasing power of the individuals in the region. Further, the rising number of individuals migrating toward popular cities for better employment opportunities is also anticipated to propel the demand for ride-hailing services in big cities in the region.
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Taxis, passenger vehicles, and charter cars are examples of on-demand services, which provide real-time feedback, vehicle tracking, and rating for service experience providing to end clients. Ride-hailing services ensure that clients can reliably identify vehicles and track their journeys while also providing safety to the occupants, which is projected to boost market expansion significantly. Abundant availability of cars and comparison of fare with correspondents facilitated by many mobile applications further drive the growth of the market. For instance, Migo, a Seattle-based search engine for on-demand ride services, launched a smartphone application in August 2017 that allowed users to compare the locations and rates of nearby taxis, car-sharing, and ride-hailing providers on a single platform.
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Major Key players covered in this report:
• Daimler AG
• Delphi Technologies Plc.
• Uber Technologies Inc.
• Didi Global Inc.
• Gett
• ANI Technologies Pvt. Ltd.
• Grab Holdings Inc.
ASIA PACIFIC RIDE-HAILING SERVICE MARKET SEGMENTATION
Asia Pacific Ride-Hailing Service Market, by Service Type
• E-hailing
• Car Sharing
• Car Rental
• Station-based Mobility
Asia Pacific Ride-Hailing Service Market, by Vehicle Type
• Two-Wheeler
• Three-Wheeler
• Four-Wheeler
• Others
Asia Pacific Ride-Hailing Service Market, by End-User
• Institutional
• Personal
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In Asia Pacific, India is the worst-hit country by the COVID-19 outbreak. Asia Pacific experienced a notable decline in several economic activities as the government authorities imposed strict lockdowns, travel bans, and business shutdown. Many countries in Asia are in a developing state. Owing to layoffs and salary cuts, buying capacity of majority of consumers was affected drastically. Expenditure on nonessentials was avoided as much as possible. This has resulted in weak demand for ride-hailing services in the region. The COVID-19 pandemic has not only disrupted the overall economy and automobile market in Asia Pacific but has also changed the buyers’ attitude toward the sector.
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