E-Hailing Market is Anticipated to Expand upto $167.86 Billion in 2029

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What Is the Forecasted Market Growth Rate of the E-Hailing Industry?
The surge in the e-hailing market has been significant in past years. Forecasted to increase from a value of $67.65 billion in 2024 to $80.97 billion in 2025, the market projects a compound annual growth rate (CAGR) of 19.7%. Factors that contributed to this growth in the previous period include escalating smartphone usage, greater urbanization, improved internet access, a pressing demand for comfortable transportation, and widespread acceptance of digital payments.

How Will the E-Hailing Market Size Evolve From 2025 to 2029?
In the upcoming years, a swift expansion is projected for the e-hailing market, with its value anticipated to reach $167.86 billion in 2029, growing at a 20.0% Compound Annual Growth Rate (CAGR). This projected growth for the forecast period can be ascribed to factors such as the escalating demand for eco-friendly transportation, the increasing incorporation of AI and automation technologies, a surge in the adoption of shared mobility, the rise in smart city projects, and the widening expanse of 5G connectivity. Key trends to watch during this projection period include the formation of strategic alliances, the emergence of unique ride-sharing platforms, smart tech solutions, AI integration, and overall technological developments.

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What Are the Strategic Drivers Boosting E-Hailing Market Performance?
Rising traffic congestion is anticipated to fuel the expansion of the e-hailing market in the future. This congestion is characterized by the overpopulation of roads due to a large number of vehicles, resulting in slower speeds, hold-ups, and extended travel hours. This surge in traffic is attributed to urban growth, increased vehicle count, and insufficient infrastructure. E-hailing contributes to mitigating this escalating traffic issue by encouraging ride-sharing, route optimization, and lessening the reliance on private vehicles. For example, estimates from INRIX, Inc., a US-based company that provides real-time traffic data and connected driving services, reveal that in 2022, drivers in major U.S. cities, including five that are among the world's top ten most congested places, faced an average of 51 hours mired in traffic. This is an increase of 15 hours from the previous year. As a result, the rise in traffic congestion is pushing the progress of the e-hailing market.

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Which E-Hailing Market Segment Is Expected to Lead Through 2029?
The e-hailing market covered in this report is segmented -

1) By Service Type: Ride-Hailing, Taxi-Hailing, Carpooling, Peer-To-Peer (P2P) Services
2) By Vehicle Type: Cars, Three Wheelers, Two Wheelers
3) By End-Users: Personal Use, Business

Subsegments:

1) By Ride-Hailing: App-Based Ride-Hailing, Corporate Ride-Hailing, Luxury Ride-Hailing, Electric Vehicle (EV) Ride-Hailing
2) By Taxi-Hailing: Traditional Taxi-Hailing, Digital Taxi Booking, Shared Taxi Services, Subscription-Based Taxi Services
3) By Carpooling: Fixed-Route Carpooling, Dynamic Carpooling, Long-Distance Carpooling, Corporate Carpooling
4) By Peer-To-Peer (P2P) Services: Private Car Rentals, Community-Based Ride-Sharing, On-Demand P2P Rides, Subscription-Based P2P Mobility

Which Market Trends Are Expected to Dominate E-Hailing Industry Growth?
E-hailing market leaders are focusing on technology improvements, such as e-hailing platforms, in order to improve safety, efficiency, and user experience. Here, e-hailing platform is defined as a digital service that facilitates the connection between drivers and passengers for immediate transportation through a mobile application. Take for example, BozaRide, which is a South African e-hailing platform that commenced operation in Sandton, Johannesburg in March 2023. This platform was created to rival market front-runners such as Uber and Bolt. BozaRide has plans to widen its reach within the country with a focus on more enhanced security features as well as a pricing model aimed at a balanced driver remuneration. BozaRide sets itself apart by being a locally developed platform that meets the unique requirements of South African consumers.

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Which Companies Hold the Largest Market Share in the E-Hailing Sector?
Major companies operating in the e-hailing market are Uber Technologies Inc., DiDi Global Inc., AirAsia Superapp Sdn Bhd, Grab Holdings Limited, inDrive, Bolt Technology OÜ, LALAMOVE LLC, Marti Technologies, Lularides Limited, PT GoTo Gojek Tokopedia Tbk, Movex Innovation Limited, EzCab Sdn Bhd, ATOM Mobility SIA, MyCar Sdn Bhd, Yelowsoft Pvt Ltd, Hala Ride, SpotnRides, M-TRIBES GmbH, Kumpool Sdn Bhd, BozaRide Technologies Limited.

Where Is the E-Hailing Market Experiencing the Highest Growth?
North America was the largest region in the e-hailing market in 2024. The regions covered in the e-hailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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