North America Ride-Hailing Service Market Astonishing Growth Worldwide during forecast period 2021-2028

According to a new market research study on "North America Ride-Hailing Service Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Service Type, Vehicle Type, Location, and End-User," is expected to reach US$ 23,758.07 million by 2028 from US$ 12,637.04 million in 2021. The market is estimated to grow at a CAGR of 9.4% from 2021 to 2028.

The report provides trends prevailing in the North America ride-hailing service market along with the drivers and restraints pertaining to the market growth. Increase in trend of on-demand transportation services, surge in cost of vehicle ownership, and advent of autonomous ride sharing are the major factor driving the growth of the North America ride-hailing service market. However, changing transport policies of different countries and resistance from traditional transport services hinder the growth of North America ride-hailing service market.

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Key Companies profiled in this research study are:
• Daimler AG
• Delphi Technologies Plc.
• Uber Technologies Inc.
• Gett
• Lyft, Inc.
• zTrip

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 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.

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Market Analysis and Insights: North America Ride-Hailing Service Market
North America Ride-Hailing Service Market report elaborates the market size, market characteristics, and market growth of the North America Ride-Hailing Service industry, and breaks down according to the type, application, and consumption space of North America Ride-Hailing Service. The report also conducted a PESTEL analysis of the industry to check the most influencing factors and entry barriers of the industry.

Some of the key queries answered in this report:
• -What can we estimate about the anticipated growth rates and also the North America Ride-Hailing Service industry size by 2028?
• -What will happen in the coming existing and emerging markets?
• -Which are the five top players within thee North America Ride-Hailing Service market?
• -How can the North America Ride-Hailing Service market change in the upcoming years?
• -Which product and application will take a share of the North America Ride-Hailing Service market?
• -What will be the CAGR and size of the North America Ride-Hailing Service market throughout the forecast period?
• -What are the market opportunities and challenges two-faced by the key vendors?
• -Who are the major competitors and what is their strategy?
• -What are the barriers to entry for new players in the market?
• -What would be the upcoming North America Ride-Hailing Service market behaviour forecast with trends, challenges, and drivers for development?
• -What business opportunities and dangers are faced by vendors in the market?
• -Which would be North America Ride-Hailing Service industry opportunities and challenges faced by most vendors in the market?
• -What will be the outcomes of this market SWOT five forces analysis?

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This release was published on openPR.