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Ride-hailing Market 2022 Driving Factors Forecast Research 2028

12-07-2022 07:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: orion market research

Ride-hailing Market

Ride-hailing Market

The global ride-hailing market is anticipated to grow significantly at a CAGR during the forecast period. High smartphone and internet penetration globally will drive the growth of the global ride-hailing market. In addition to this, greater funding to the startups of the ride-hailing and increasing cost of the vehicle will drive the growth of the market. Moreover, the growth is attributed to the introduction of new players to the ride-hailing industry. The rising population and growing traffic across the globe are the major restraints for the growth of the market. Besides, the market growth is limited by the decreasing international and domestic tourism owing to the COVID-19 curbs.

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The COVID-19 impact is significant on the global ride-hailing market as the transport was restricted for the healthcare workers during the lockdown. The restrictions imposed during the lockdown negatively affected the growth of the market. For instance, Uber, a ride-hailing firm, suffered huge losses of around $2.9 billion in the first quarter of 2020 and the business was slowed down by 80%. Although, after the pandemic, the ride-hailing market will surge more as compared to the ride-sharing market.

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• Market Coverage
• Market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Ride Hailing Market by Segment
By Vehicle Type
• Passenger Vehicle
• Two-Wheeler
• Other (Auto Rickshaw)
By Propulsion Technology
• IC Engine Vehicle
• Electric Vehicle

Global Ride Hailing Market by Region
North America
• United States
• Canada
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World

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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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