North America Ride-Hailing Service Market Growing at 9.4% CAGR to be Worth USD 12, 637.04 Million by 2028: COVID-19 Impact and Global Analysis by Business Market Insights

The ride-hailing service market in North America is expected to grow from US$ 12,637.04 million in 2021 to US$ 23,758.07 million by 2028; it is estimated to grow at a CAGR of 9.4% from 2021 to 2028.

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.

Get Sample PDF@: https://www.businessmarketinsights.com/sample/TIPRE00026661?utm_source=OpenPR&utm_medium=10279

key companies profiled in this research study are: 
Daimler AG
Delphi Technologies Plc.
Uber Technologies Inc.
Gett
Lyft, Inc.
zTrip

The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in the US. The economic growth was slowed, which directly impacted the ride-hailing service across the region. North America is one of the leading regions in terms of new technology development and adoption, owing to favorable government policies that encourage innovation and improve infrastructure capabilities. As a result, any impact on the industrial sector's expansion hinders the region's economic growth. Due of the COVID-19 outbreak, the United States is currently the world's worst-affected country. Owing to the impact of COVID-19 pandemic, the lower cross-border activities and implications of social distancing regulation for supporting the slow-down of the virus spread, the ride-hailing industry is being impacted negatively. However, increasing cost of ownership supported the market growth in the year 2021 and expected to continue in forecasted period. For instance, according to American Automobile Association (AAA), the average cost of owning and operating a new car grew by US$ 279 from 2019 to US$ 9,561 in 2020.

North America Ride-Hailing Service Market Segmentation:

North America Ride-Hailing Service Market - By Service Type:
E-hailing
Car Sharing
Car Rental
Station-based Mobility

North America Ride-Hailing Service Market - By Vehicle Type:
Two-Wheeler
Three-Wheeler
Four-Wheeler
Others

North America Ride-Hailing Service Market - By Location:
Urban
Rural

North America Ride-Hailing Service Market - By End-User:
Institutional
Personal

North America Ride-Hailing Service Market - By Country:
US
Canada
Mexico

The reports cover key developments in the North America Ride-Hailing Service Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.

Access full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.businessmarketinsights.com/reports/north-america-ride-hailing-service-market?utm_source=OpenPR&utm_medium=10279

Major Features of North America Ride-Hailing Service Market Report:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Ride-Hailing Service Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America Ride-Hailing Service Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Purchase a copy of this Report@: https://www.businessmarketinsights.com/buy/single/TIPRE00026661?utm_source=OpenPR&utm_medium=10279

Contact us:
If you have any questions about this report or would like further information, please contact us:
Contact person: Sameer Joshi
Email: sales@businessmarketinsights.com
Phone: +1646791707
Blog URL: https://bmiinsights.blogspot.com/

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.