Ride-Hailing Service Market Share, Size & Forecast 2023-2028

Ride-Hailing Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5310

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Market Overview:

The global ride-hailing service market size reached US$ 161.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 283.5 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.

Ride-hailing refers to the process of booking customized rides online by customers via transportation network companies (TNCs). Ride-hailing services are convenient, cost-effective, safe for riders and help offer mobility to senior citizens as well as people with disabilities. They also display the license plate and model of the car to ensure that riders get into the right vehicle and can share the route with friends and family members.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Ride-Hailing Service Market Trends:

At present, there is a rise in the trend of on-demand transportation services due to flexible routing and ad-hoc scheduling of private automobiles. These automobiles allow passengers to have a personalized transportation experience by picking up and dropping off at their preferred locations. This, along with the growing number of employment opportunities offered by ride-hailing services, represents one of the key factors driving the market. Moreover, the rising employment of autonomous vehicles in ride-hailing services to reduce carbon dioxide (CO₂) emissions in the environment are propelling the growth of the market. In addition, there is an increase in the utilization of mobility-as-a-service (MaaS) among individuals to reduce traffic congestion, road injuries, and the overall discomfort associated with traveling. This, coupled with the expanding user base of ride-hailing services around the world due to easy booking of vehicles and hassle-free payments as compared to conventional taxi services, is offering lucrative growth opportunities to key players. Besides this, several ride-hailing companies are raising funds from investors to enhance their technology and deliver better services to their clients. In line with this, governments of several countries are providing subsidies to drivers for encouraging them to take more bookings, which is bolstering the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global ride-hailing service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, service type, payment method, location type and end user.

Breakup by Vehicle Type:

Two-wheeler
Three-wheeler
Four-wheeler
Others

Breakup by Service Type:

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E-hailing
Car Sharing
Car Rental
Others

Breakup by Payment Method:

Cash
Online

Breakup by Location Type:

Urban
Rural

Breakup by End User:

Personal
Commercial

Breakup by Region:

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North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aptiv PLC, Be Group JSC, BlaBlaCar, Bolt Technology OÜ, FREE NOW, Gett, Grab, InDriver, Lyft Inc., Ola Cabs, Ridecell Inc., TomTom N.V. and Uber Technologies Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Vehicle Type, Service Type, Payment Method, Location Type, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Aptiv PLC, Be Group JSC, BlaBlaCar, Bolt Technology OÜ, FREE NOW, Gett, Grab, InDriver, Lyft Inc., Ola Cabs, Ridecell Inc., TomTom N.V. and Uber Technologies Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the global ride-hailing service market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global ride-hailing service market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the service type?
What is the breakup of the market based on the payment method?
What is the breakup of the market based on the location type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global ride-hailing service market and who are the key players?
What is the degree of competition in the industry?

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