HOME Top Market Reports Ride Hailing Market by Service Type (E-hailing, Car Sharing, Station-Based, Car Rental), Data Service (Navigation, Information, Payment, Others), Connectivity (3G, 4G, 5G, Wi-Fi and V2V, V2I, V2P, V2N), Vehicle Type & Region - Global Forecast to 2025

Ride Hailing Market by Service Type (E-hailing, Car Sharing, Station-Based, Car Rental), Data Service (Navigation, Information, Payment, Others), Connectivity (3G, 4G, 5G, Wi-Fi and V2V, V2I, V2P, V2N), Vehicle Type & Region - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: AT 4965

 

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The Ride hailing market is driven by factors such as growing need for personal mobility in wake of rising urbanization and fall in car ownership. The ride hailing market is projected to grow at a CAGR of 19.81% during the forecast period, to reach USD 276.00 Billion by 2025. The base year considered for the study is 2016, and the forecast period is 2017 to 2025.

Objectives of the Study:

  • To define, describe, and project the ride hailing market on the basis of  service type, vehicle type, data service, internet connectivity, vehicle connectivity, and region
  • To analyze and forecast  the market size, in terms of value (USD billion), of the ride hailing market
  • To identify the market dynamics and analyze their impact on the ride hailing market
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other industry activities carried out by key industry participants

The research methodology used in the report involves primary and secondary sources. Secondary sources include paid databases & directories such as Factiva.  In the primary research stage, experts from related industries, mobility service providers, and other stakeholders have been interviewed to understand the present situation and future trends of the ride hailing market.

The ride hailing market, in terms of value (USD million), for various regions, industries, service type, data service, internet connectivity, vehicle connectivity and vehicle type has been derived from forecasting techniques based on number of  plans, expansions and developments with the gross revenue of ride hailing service providers. It has been verified through primary sources.

The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Ride Hailing Market

To know about the assumptions considered for the study, download the pdf brochure

The ride hailing market is dominated by a few global players, and comprises several regional players. Some of the key players operating in the ride hailing ecosystem are Uber Technologies Inc. (U.S.), Delphi Automotive Plc (U.K.), Denso Corporation (Japan), Intel Corporation (U.S.), and TomTom NV (The Netherlands).

Target Audience

  • Ride hailing service providers
  • Transportation network companies 
  • Automotive OEMs
  • Back-end service providers
  • Government’s national and regional transportation regulatory agencies or organizations

Scope of the Report

  • Ride hailing Market, By Service Type
    • E-hailing
    • Car Sharing
    • Car rental
    • Station Based Mobility
  • Ride hailing Market, By Vehicle Type
    • Four Wheelers
    • Micro Mobility Vehicles
  • Ride hailing Market, By Data Service
    • Navigation
    • Information
    • Payment
    • Others
  • Ride hailing Market, Internet Connectivity
    • 3G
    • 4G
    • 5G
    • Wi-Fi
  • Ride hailing Market, By Vehicle Connectivity
    • V2V
    • V2I
    • V2P
    • V2N
  • Ride hailing Market, By Region
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with company-specific needs.

App based bus market, by region

  • Asia-Pacific
  • Europe
  • North America
  • Rest of the world

App based train market, by region

  • Asia-Pacific
  • Europe
  • North America
  • Rest of the world

App based air travel market, by region

  • Asia-Pacific
  • Europe
  • North America
  • Rest of the World

Ride hailing market, by city

  • New York, U.S.
  • Los Angeles, U.S.
  • London, U.K.
  • Berlin, Germany
  • Madrid, Spain

Company Information

  • Detailed analysis and profiling of additional market players (up to 3)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
    2.3 Key Data From Secondary Sources
    2.4 Primary Data
           2.4.1 Sampling Techniques & Data Collection Methods
           2.4.2 Primary Participants
    2.5 Market Size Estimation
           2.5.1 Assumptions
           2.5.2 Additional Assumptions
    2.6 Factor Analysis
           2.6.1 Demand-Side Analysis
                    2.6.1.1 Rising Urbanization Around the Globe
                    2.6.1.2 Increasing Traffic Congestions
           2.6.2 Supply-Side Analysis
                    2.6.2.1 Technological Advancements

3 Executive Summary (Page No. - 32)
    3.1 Ride Hailing Market, By Service Type
    3.2 Ride Hailing Market, By Region
    3.3 Ride Hailing Market, By Propulsion Type
    3.4 Ride Hailing, By Data Service Type
    3.5 Ride Hailing, By Telecommunication Technology
    3.6 Ride Hailing, By Vehicle Communication Technology

4 Premium Insights (Page No. - 37)
    4.1 Global Market for Ride Hailing, 2017 vs 2025 (USD Billion)
    4.2 Ride Hailing Market, By Service Type, 2017 (USD Billion)
    4.3 Ride Hailing Market, Car Sharing, 2017 (USD Billion)
    4.4 Ride Hailing Market By Country, 2017 (USD Billion)
    4.5 Ride Hailing Market, By Data Service, 2017 (USD Million)
    4.6 Global Ride Hailing Market, By Micromobility Vehicles, 2017 (Volume)
    4.7 Ride Hailing Market, By Connectivity, 2017–2025 (USD Million)
    4.8 Ride Hailing Market for Vehicle Connectivity, By Region, By 2020 (USD Million)

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Mobility-As-A-Service (Maas): an Overall Ecosystem
    5.3 Report Coverage: By Solution & Vehicle Type
    5.4 Market Segmentation
           5.4.1 Ride Hailing: Market Segmentation
    5.5 Market Dynamics
           5.5.1 Drivers
                    5.5.1.1 Reduction in Car Ownership Among Millennials
                    5.5.1.2 Increasing Number of Connected Vehicles Will Facilitate the Growth of Ride Hailing
                    5.5.1.3 Stringent CO2 Reduction Targets
                    5.5.1.4 Development of Semi-Autonomous and Autonomous Vehicles
           5.5.2 Restraints
                    5.5.2.1 Low Rate of Internet Penetration in Developing Regions
                    5.5.2.2 Regional Transport Policies
           5.5.3 Opportunities
                    5.5.3.1 Increasing User Base for Ride Sharing
                    5.5.3.2 Oems as Mobility Service Providers
                    5.5.3.3 Public–Private Partnerships
           5.5.4 Challenges
                    5.5.4.1 High Cost of Infrastructure Development
                    5.5.4.2 Resistance From Traditional Taxi Services
                    5.5.4.3 Station-Based Mobility
    5.6 Porters Five Forces Analysis
           5.6.1 Intensity of Competitive Rivalry
           5.6.2 Threat of Substitutes
           5.6.3 Bargaining Power of Suppliers
           5.6.4 Bargaining Power of Buyers
           5.6.5 Threat of New Entrants

6 Ride Hailing Market, By Service (Page No. - 58)
    6.1 Introduction
    6.2 E-Hailing Market, By Region
    6.3 Car Sharing Market, By Region
           6.3.1 Traditional Car Sharing Market, By Region
           6.3.2 P2P Car Sharing Market, By Region
           6.3.3 Corporate Car Sharing Market, By Region
    6.4 Station-Based Mobility Market, By Region
    6.5 Car Rental Market, By Region

7 Ride Hailing Market, By Vehicle Type (Page No. - 65)
    7.1 Introduction
    7.2 Ride Hailing Market, By Vehicle Type
    7.3 Four Wheelers Ride Hailing Market, By Vehicle Type
           7.3.1 Electric Vehicles Ride Hailing Market, By Region
           7.3.2 Internal Combustion Vehicle Ride Hailing Market, By Region
    7.4 Ride Hailing: Micro Mobility Market, By Vehicle Type
           7.4.1 Ride Hailing: E-Bike Market, By Region
           7.4.2 Ride Hailing: E-Scooter Market, By Region
           7.4.3 Ride Hailing: E-Motorcycle Market, By Region

8 Ride Hailing Market, By Data Service (Page No. - 71)
    8.1 Introduction
    8.2 Data Service Market, By Service & Region
           8.2.1 Navigation Service Market, By Region
           8.2.2 Information Service Market, By Region
           8.2.3 Payment Service Market, By Region
           8.2.4 Other Services Market, By Region

9 Ride Hailing Market, By Data Telecommunication Technology (Page No. - 76)
    9.1 Introduction
    9.2 Ride Hailing Market By Telecommunication Technology & Region
    9.3 Ride Hailing Market for Telecommunication Technology Segment, By Region
           9.3.1 Ride Hailing Market for 3G Technology, By Region
           9.3.2 Ride Hailing Market for 4G Technology, By Region
           9.3.3 Ride Hailing Market for 5G Technology, By Region
           9.3.4 Ride Hailing Market for Wi-Fi Technology, By Region

10 Ride Hailing Market, By Vehicle Connectivity (Page No. - 81)
     10.1 Introduction
     10.2 Ride Hailing Market, By Vehicle Communication Technology & By Region
             10.2.1 Vehicle Communication Technology Market, By Region
             10.2.2 V2V Communication Technology Market, By Region
             10.2.3 V2I Communication Technology Market, By Region
             10.2.4 V2P Communication Technology Market, By Region
             10.2.5 V2N Communication Technology Market, By Region

11 Ride Hailing Market, By Region (Page No. - 86)
     11.1 Introduction
     11.2 Asia-Pacific Ride Hailing Market, By Service & Country
             11.2.1 China: Ride Hailing Market, By Service
             11.2.2 India: Ride Hailing Market, By Service
             11.2.3 Japan: Ride Hailing Market, By Service
             11.2.4 Singapore: Ride Hailing Market, By Service
     11.3 Europe Ride Hailing Market, By Service & Country
             11.3.1 U.K.: Ride Hailing Market, By Service
             11.3.2 Germany: Ride Hailing Market, By Service
             11.3.3 France: Ride Hailing Market, By Service
             11.3.4 Netherlands: Ride Hailing Market, By Service
     11.4 North America Ride Hailing Market, By Service & Country
             11.4.1 U.S.: Ride Hailing Market, By Service
             11.4.2 Canada: Ride Hailing Market, By Service
             11.4.3 Mexico: Ride Hailing Market, By Service
     11.5 Rest of the World Ride Hailing Market, By Service & Country
             11.5.1 Brazil: Ride Hailing Market, By Service
             11.5.2 Russia: Ride Hailing Market, By Service
             11.5.3 UAE: Ride Hailing Market, By Service

12 Competitive Landscape (Page No. - 104)
     12.1 Introduction
     12.2 Market Ranking Analysis, By Valuation
     12.3 Competitive Situations & Trends
     12.4 Partnerships/Joint Ventures/Supply Contracts
     12.5 Investments
     12.6 New Product Development
     12.7 Mergers & Acquisitions

13 Company Profiles (Page No. - 112)
(Business Overview, Products Offered, Key Insights, SWOT Analysis, Recent Developments, MnM View)*
     13.1 Introduction
     13.2 Delphi Automotive PLC
     13.3 Denso Corporation
     13.4 Uber Technologies, Inc.
     13.5 Intel Corporation
     13.6 Tomtom NV
     13.7 Robert Bosch GmbH
     13.8 International Business Machines Corp. (IBM)
     13.9 Didi Chuxing
     13.10 Gett, Inc.
     13.11 Lyft, Inc.
     13.12 Ford Motor Company
     13.13 Toyota Motor Corporation
     13.14 Bmw Group
     13.15 Daimler AG
     13.16 General Motors

*Details on Business Overview, Products Offered, Key Insights,SWOT Analysis, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 141)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
             14.5.1 App-Based Bus Market, By Region
                        14.5.1.1 Asia-Pacific
                        14.5.1.2 Europe
                        14.5.1.3 North America
                        14.5.1.4 Rest of the World
             14.5.2 App-Based Train Market, By Region
                        14.5.2.1 Asia-Pacific
                        14.5.2.2 Europe
                        14.5.2.3 North America
                        14.5.2.4 Rest of the World
             14.5.3 App-Based Air Travel Market, By Region
                        14.5.3.1 Asia-Pacific
                        14.5.3.2 Europe
                        14.5.3.3 North America
                        14.5.3.4 Rest of the World
             14.5.4 Ride Hailing Market, By City
                        14.5.4.1 New York, U.S.
                        14.5.4.2 Los Angeles, U.S.
                        14.5.4.3 London, U.K.
                        14.5.4.4 Berlin, Germany
                        14.5.4.5 Madrid, Spain
     14.6 Related Reports
     14.7 Author Details


List of Tables (63 Tables)

Table 1 U.S.: Share of Light Duty Vehicle Purchase By Age Group (Percentage)
Table 2 Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 3 E-Hailing: Ride Hailing Market Size, By Region, 2015–2025 (USD Billion)
Table 4 Car Sharing: Ride Hailing Market Size, By Region, 2015–2025 (USD Billion)
Table 5 Car Sharing: Ride Hailing Market Size, By Type, 2015–2025 (USD Billion)
Table 6 Traditional Car Sharing: Car Sharing Market Size, By Region, 2015–2025 (USD Billion)
Table 7 P2P Car Sharing: Car Sharing Market Size, By Region, 2015–2025 (USD Billion)
Table 8 Corporate Car Sharing: Car Sharing Market Size, By Region, 2015–2025 (USD Million)
Table 9 Station-Based Mobility: Ride Hailing Market Size, By Region, 2015–2025 (USD Million)
Table 10 Car Rental: Ride Hailing Market Size, By Region, 2015–2025 (USD Million)
Table 11 Ride Hailing Market Size, By Vehicle Type, 2015–2025 (Million Units)
Table 12 Four Whelers: Ride Hailing Market Size, By Vehicle Type, 2015–2025 (Million Units)
Table 13 Electric Vehicles: Four-Wheeler Market Size, By Region, 2015–2025 (‘000 Units)
Table 14 Internal Combustion Vehicles: Four-Wheeler Market Size, By Region, 2015–2025 (Million Units)
Table 15 Micro Mobility: Ride Hailing Market Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 16 Ride Hailing: E-Bike Market Size, By Region, 2015–2025 (‘000 Units)
Table 17 Ride Hailing: E-Scooter Market Size, By Region, 2015–2025 (‘000 Units)
Table 18 Ride Hailing: E-Motorcycle Market Size, By Region, 2015–2025 (‘000 Units)
Table 19 Data Service Market Size, By Service Type, 2015–2025 (USD Billion)
Table 20 Data Service Market Size, By Region, 2015–2025 (USD Billion)
Table 21 Navigation Service: Data Service Market Size, By Region, 2015–2025 (USD Billion)
Table 22 Information Service: Data Service Market Size, By Region, 2015–2025 (USD Billion)
Table 23 Payment Service: Data Service Market Size, By Region, 2015–2025 (USD Billion)
Table 24 Other Services: Data Service Market Size, By Region, 2015–2025 (USD Billion)
Table 25 Telecommunication Technology: Ride Hailing Market Size, By Type, 2015–2025 (USD Million)
Table 26 Telecommunication Technology: Ride Hailing Market Size, By Region, 2015–2025 (USD Million)
Table 27 3G Technology: Telecommunication Technology Market Size, By Region, 2015–2025 (USD Million)
Table 28 4G Technology: Telecommunication Technology Market Size, By Region, 2015–2025 (USD Million)
Table 29 5G Technology: Telecommunication Technology Market Size, By Region, 2015–2025 (USD Million)
Table 30 Wi-Fi Technology: Telecommunication Technology Market Size, By Region, 2015–2025 (USD Million)
Table 31 Ride Hailing Market Size, By Vehicle Communication Technology, 2017–2025 (USD Million)
Table 32 Vehicle Communication Technology Market Size, By Region, 2017–2025 (USD Million)
Table 33 V2V Communication Technology Market Size, By Region, 2017–2025 (USD Million)
Table 34 V2I Communication Technology Market Size, By Region, 2017–2025 (USD Million)
Table 35 V2P Communication Technology Market Size, By Region, 2017–2025 (USD Million)
Table 36 V2N Communication Technology Market Size, By Region, 2017–2025 (USD Million)
Table 37 Ride Hailing Market Size, By Region, 2015–2025 (USD Billion)
Table 38 GDP Growth Rate of Developing Countries in Asia-Pacific, 2013–2015
Table 39 Asia-Pacific: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 40 Asia-Pacific: Ride Hailing Market Size, By Country, 2015–2025 (USD Billion)
Table 41 China: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 42 India: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 43 Japan: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 44 Singapore: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 45 Europe: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 46 Europe: Ride Hailing Market Size, By Country, 2015–2025 (USD Billion)
Table 47 U.K.: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 48 Germany: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 49 France: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 50 Netherlands: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 51 North America: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 52 North America: Ride Hailing Market Size, By Country, 2015–2025 (USD Billion)
Table 53 U.S.: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 54 Canada: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 55 Mexico: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 56 Rest of the World: Ride Hailing Market Size, By Country, 2015–2025 (USD Billion)
Table 57 Brazil: Ride Hailing Market Size, By Service, 2015–2025 (USD Billion)
Table 58 Russia: Ride Hailing Market Size, By Service, 2015–2025 (USD Million)
Table 59 UAE: Ride Hailing Market Size, By Service, 2015–2025 (USD Million)
Table 60 Partnerships/Joint Ventures/Supply Contracts, 2015–2016
Table 61 Investments/Expansions, 2016
Table 62 New Product Development, 2016
Table 63 Mergers & Acquisitions, 2016


List of Figures (61 Figures)

Figure 1 Ride Hailing Market Segmentation
Figure 2 Research Design
Figure 3 Ride Hailing: Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation: Top-Down Approach
Figure 7 Urban Population, 2005 vs 2015
Figure 8 Average Traffic Congestion, 2015
Figure 9 E-Hailing Service Segment to Dominate the Ride Hailing Landscape During the Forecast Period
Figure 10 Asia-Pacific to Be the Largest Market for Ride Hailing, 2017–2025
Figure 11 Ice Vehicles to Dominate the Landscape for Ride Hailing Market, 2017–2025
Figure 12 Navigation Services to Be the Largest Segment for Ride Hailing Data Services, 2017–2025
Figure 13 5G to Be the Largest Communication Technology for Accessing Ride Hailing Services, 2017–2025
Figure 14 Vehicle-To-Vehicle (V2V) to Be the Largest Vehicle Communication Technology for Ride Hailing, 2017–2025
Figure 15 Attractive Market Opportunities for Ride Hailing
Figure 16 Station-Based Mobility to Be the Fastest Growing Market , By Service Type, 2017–2025 (USD Billion)
Figure 17 Car Sharing Segment in Europe Leads the Ride Hailing Market, By Region, 2017 (USD Billion)
Figure 18 China & the U.S. Together Contribute to 61% of the Total Ride Hailing Market, 2017
Figure 19 Navigation Services Segment Expected to Lead the Ride Hailing Data Services Market, 2017 (USD Million)
Figure 20 E-Bikes & E-Scooters Constitute the Majority Market in Micromobility Vehicles, 2017 (By Volume)
Figure 21 Asia-Pacific to Dominate the Ride Hailing Market, By Connectivity Technology, 2017–2025 (USD Million)
Figure 22 North America to Be the Largest Market for Vehicle Connectivity, By 2020 (USD Million)
Figure 23 Ride Hailing: Market Dynamics
Figure 24 Global Connected Car Market, By Value (2014–2020)
Figure 25 CO2 Reduction Targets of Major Developed and Developing Countries
Figure 26 Mobile Internet Penetration, By Country Type (%)
Figure 27 Porter’s Five Forces Analysis
Figure 28 Well-Established Players & Capital-Intensive Nature of the Mobility on Demand Industry Limit the Market Competition
Figure 29 Low Switching Cost & Availability of Substitutes are Major Threats of Substitute
Figure 30 Low Switching Cost & High Passenger Base Impacts the Bargaining Power of Suppliers
Figure 31 Availability of Substitutes & Low Switching Cost Results in A Moderate Bargaining Power of Buyers
Figure 32 Government Regulations & Presence of Established Firms Result in Moderate Threat From New Entrants
Figure 33 Global Ride Hailing Market, By Service, 2017 vs 2025
Figure 34 Ride Hailing Market, By Vehicle Type, 2017 vs 2025
Figure 35 Ride Hailing Market Size, By Data Service, 2017 vs 2025
Figure 36 Asia-Pacific to Be the Largest Market for Telecommunication Technology, 2017 vs 2025
Figure 37 Vehicle Connectivity Market, By Region, 2017 vs 2025
Figure 38 Ride Hailing Market Outlook, By Region, 2017–2025 (USD Billion)
Figure 39 Europe: Ride Hailing Market Snapshot
Figure 40 North America: Ride Hailing Market Snapshot
Figure 41 Companies Adopted Partnerships/Joint Ventures/Supply Contracts as the Key Growth Strategy From 2013 to 2016
Figure 42 Market Valuation of Top Taxi Aggregators
Figure 43 Market Evaluation Framework: Partnerships/Joint Ventures/Supply Contracts Fueled the Growth of the Ride Hailing Market, 2013–2016
Figure 44 Battle for Market Share: Partnerships/Joint Ventures/Supply Contracts Was the Most Widely Adopted Strategy
Figure 45 Delphi Automotive PLC: Company Snapshot
Figure 46 Delphi Automotive PLC: SWOT Analysis
Figure 47 Denso Corporation: Company Snapshot
Figure 48 Denso Corporation: SWOT Analysis
Figure 49 Uber Technologies, Inc.: SWOT Analysis
Figure 50 Intel Corporation: Company Snapshot
Figure 51 Intel Corporation: SWOT Analysis
Figure 52 Tomtom NV: Company Snapshot
Figure 53 Tomtom NV: SWOT Analysis
Figure 54 Robert Bosch GmbH: Company Snapshot
Figure 55 IBM: Company Snapshot
Figure 56 Toyota Motor Corporation: Company Snapshot
Figure 57 Toyota in Mobility Services
Figure 58 Recent Developments in Mobility Services
Figure 59 Recent Developments in Mobility Services
Figure 60 Recent Developments in Mobility Services
Figure 61 Recent Developments in Mobility Services

The Ride hailing market is projected to grow at a CAGR of 19.81% from 2017 to 2025, to reach a market size of USD 276.00 Billion by 2025. The major drivers of this market are growing need for personal mobility in wake of rising urbanization and fall in car ownership.

E-hailing is the largest segment in the conveyor system market in terms of value. E-hailing is the most widely used ride hailing service. The growth of e-hailing is attributed to its user-friendliness and convenience to consumers. Station based mobility is the fastest growing market in the ride hailing industry. This fastest growth of segment is owing to government incentives and growing consumer preference.

Payment service market is growing at the fastest CAGR during the forecast period. Ride hailing service providers use payment gateway for online payment processing. International expansion of ride hailing service providers and payments in foreign currency will boost the growth of payment service. Navigation service is largest market in the ride hailing market during the forecast period as user base of ride hailing services is huge as it is used by both driver and passenger regarding location and route.

Electric vehicle market is growing at the fastest CAGR during the forecast period. This growth is attributed to favorable government policies, better infrastructure, and growing awareness about CO2 emission. IC engine vehicles have the largest market in the ride hailing market as current mobility on landscape is dominated by IC engine vehicles.

Asia-Oceania is estimated to be the largest market in the global ride hailing market. The growing need for personal mobility with increasing urbanization has given rise to the growth of industries in these countries. Major Ride hailing service providers such as Uber Technologies, Inc. (U.S.) and Didi Chuxing (China) have either regional presence or collaboration with regional players in the Asia-Pacific region.

Ride Hailing Market

A key factor restraining the growth of ride hailing market is a high cost of infrastructure development. Along with this high cost of infrastructure development, ambiguous regulatory policies and low internet penetration in developing regions are restraining the growth. The ride hailing market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Uber Technologies, Inc. (U.S.), Lyft, Inc. (U.S.), and Didi Chuxing (China).

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