Ride Hailing Services Market To Grow at 12.7% CAGR during the Forecast Period | Leading Players: Lyft, Inc., Uber Technologies Inc., Daimler AG., ANI Technologies Pvt. Ltd.

The Ride Hailing Services Market report provides a comprehensive analysis of the competitive landscape and offers an understanding of the competitive dynamics between the players. It also provides an overview of the market size, market share, market growth rate, competitive strategies, competitive landscape, key players, and other important aspects.

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The ride hailing services market reach USD 204,576.97 million in 2020 and it is estimated to value USD 534,292.04 million by 2028. The ride hailing services market is projected to register a CAGR of 12.7% during the forecast period. Ride-hailing services have grown in popularity in recent years as a result of benefits such as lower travel costs, less traffic, and lower pollution. However, as a result of COVID-19, the ride-hailing industry is expected to lose a significant portion of its market share as a mode of transportation. By providing critical transportation services, it meets the consumers' necessary temporal demand. It is a unique effort that focuses on "access to transportation" rather than "ownership of transportation."

Recent Developments in the Global Ride Hailing Services Market:

• Apr 29, 2021 - Baidu announced that it would begin offering paid driverless robotaxi services in Beijing from May 2.

• Nov 22, 2018 - BMW started offering ride-hailing services in China in December, making it the first global automaker to do so in the fast-growing market.

Major companies functioning in the global ride hailing services market are Lyft, Inc., Uber Technologies Inc., Daimler AG., ANI Technologies Pvt. Ltd., Grab, Didi Chuxing Technology Co., VIA, and Gett, Inc., Addison Lee, Gojek, Kabbee, Blablacar, Yandex.Taxi

Growth Drivers that Support the Global Ride Hailing Services Market:

• In 2023, the four-wheeler segment dominated the market in terms of vehicle type. Consumer preference, an existing vehicle fleet, and available facilities and variations are all factors that contribute to this demand. Due to rising traffic congestion and rapid mobility in urban areas, the two-wheeler segment is expected to rise at the fastest rate of 13% during the forecast period.

• In location segment, the urban segment is expected to dominate this market during the forecast period. The growth of the segment is due to existing user base, better connectivity, and market awareness.

• The dominant players in the ride hailing services market industry are expected to be Uber and DiDi. To maintain their dominant position in the ride-sharing industry, both companies have implemented growth, new product creation, collaboration, and merger and acquisition strategies. They have made a mark not only in the existing market but also in emerging markets by strengthening their product portfolio and global footprint through customer relationships.

Market Segments

By Service Type (E-hailing, Car Sharing, Car Rental, and Station-based Mobility)

By Vehicle Type (Two-wheeler, Three-wheeler, Four-wheeler, and Others)

By Location (Urban and Rural), By End User (Institutional and Personal)

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Frequently Asked Questions
• What has been the performance of the global market so far, and how will it perform in the coming years?

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• What is the market segmentation based on product type?

• What are the various levels of the industry's value chain?

• What are the market's main driving forces and challenges?

• What is the regulatory framework in different countries, and who are the major players?

Regional analysis
☞ North America - US, Canada, Mexico, Rest of North America
☞ Europe- Germany, Russia, UK, France, Italy, Spain, The Netherlands, Rest of Europe
☞ Asia Pacific- China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific
☞ Middle East and Africa- UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
☞ South America- Brazil, Argentina, Colombia, Rest of South America

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