Press release
Ride-Hailing Service Market : Accelerated Growth at a CAGR of 16.5% from 2018 to 2025 | LYFT, GETT, UBER TECHNOLOGIES INC
Ride-Hailing Service Market
High demand for on-demand transportation services, creation of new jobs in urban and semi-urban areas, and advent of connected & electric vehicles drive the growth of the market. However, low internet penetration in developing economies and stringent government policies hinder the market growth. On the other hand, ongoing trend of mobility-as-a-service and rise in user base for ride sharing services across the globe would create new opportunities for the industry in the near future.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/request-sample/5052
E-hailing service segment to account for major revenue share by 2025
The e-hailing service segment accounted for more than one-third of the total market share in 2017, owing to growing presence of tech giants across emerging economies and increase in demand for transportation services. This segment is expected to maintain its dominance by 2025. However, the station-based mobility segment would grow at the fastest CAGR of 22.7% from 2018 to 2025, owing to rise in user base of ride sharing services and supportive government initiatives for ride hailing services. The other service types analyzed in the study include car rental and car sharing.
Four-wheelers segment to contribute the highest revenue by 2025
Four-wheelers segment held the major share in the market in 2017, contributing to more than half of the total market revenue. This is attributed to the advent of advanced technologies in the sector such as connected cars, autonomous vehicles, and others. This segment would maintain its lead position throughout the forecast period. The three-wheeler segment is expected to register the highest CAGR of 21% from 2018 to 2025, owing to the upsurge in electric vehicles and government subsidiaries. The report also analyzes two-wheelers and other vehicle types.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ- https://www.alliedmarketresearch.com/ride-hailing-service-market/purchase-options
Urban segment to maintain its lion's share throughout the forecast period
The urban segment contributed more than three-fourths of the total market share in 2017 and is expected to maintain its lion's share throughout the forecast period. This is due to the availability of better infrastructure and development. However, the rural segment is expected to register the fastest CAGR of 18.7% from 2018 to 2025. This is due to the expansion of giant companies and increased infrastructure developments in the rural regions.
Institutional end users segment to dominate by 2025
The institutional segment contributed more than two-thirds of the total market share in 2017, owing to ease in service availability and availability of coupon & discounts. This segment will continue to dominate through 2025. However, the personal segment would grow at the highest CAGR of 18.2% from 2018 to 2025, owing to the low cost of service and availability of high-end facilities.
Asia-Pacific to grow the fastest, North America to be the highest revenue contributor
Rise in demand for transportation services and large population base are the key factors that have enabled the Asia-Pacific region to grow at the fastest CAGR of 20% from 2018 to 2025. However, North America was the highest revenue contributor in 2017, accounting for more than one-third share of the market owing to continuous developments, technological advancements, and supportive government initiatives. This region is expected to continue its dominance throughout the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/5052
Frontrunners of the industry
The leading industry players analyzed in the study include Uber Technologies Inc., Daimler AG., Lyft, Inc., ANI Technologies Pvt. Ltd., Grab, nuTonomy, Didi Chuxing Technology Co., TomTom NV, Denso Corporation, and Gett, Inc. They have adopted various strategies such as expansion, joint ventures, mergers & acquisitions, collaborations, partnerships, and others to gain a stronghold in the industry.
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Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.
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