The Ride-Hailing Market Report is Segmented by Vehicle Type (Motorcycles, Cars, Vans, and Buses), Propulsion Type (Internal Combustion Engine (ICE) and Electric), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Sizes and Forecasts for all the Above Segments in Value (USD).

The global revenue in the 'Ride-hailing' segment of the shared mobility market was forecast to continuously increase between 2024 and 2029 by in total 45.2 billion U.S. dollars (+26.98 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 212.75 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find other key market indicators concerning the average revenue per user (ARPU) and number of users. The Statista Market Insights cover a broad range of additional markets.

In 2024, the online ride-hailing and food delivery market in Southeast Asia amounted to approximately 28 billion U.S. dollars. This was forecasted to increase by 2025, in which the online transport and food market was expected to reach 31 billion U.S. dollars across the Southeast Asia region.

The Thailand Ride-Hailing Market Report is Segmented by Vehicle Type (two-Wheeler and Passenger Cars), by Booking Type (online and Offline), and by End-User (personal and Business). The Report Offers the Market Size and Forecast of the Thailand Ride-Hailing Market in Value USD Billion for the Abovementioned Segments.

The global ride-hailing service market size reached USD 191.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 381.3 Billion by 2033, exhibiting a growth rate (CAGR) of 7.97% during 2025-2033.

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 2025-2033. Our report has categorized the market based on vehicle type, service type, payment method, location type and end user.

The Mexican Ridesharing Market Report is Segmented by Service Type (E-Hailing, Car Sharing, Car Rental, and Other Service Types), Type (Peer-To-Peer Sharing and Business Sharing), Booking Channel (Online and Offline), Vehicle Type (Two Wheelers and Passenger Cars), and Distance (Intercity and Intracity). The Report Offers Market Size and Forecast for the Mexico Ridesharing Market in Terms of Value (USD) for all the Above Segments.

The global ride-sharing market is expected to grow to by more than 40 percent between 2023 and 2028. The market value is expected to amount around 216 billion U.S. dollars in 2028. DiDi, Uber, and Lyft are among the key players in this industry. Costs, congestion, and comfort are key market drivers The ride-sharing market’s rapid growth is being fueled by several key factors: Consumers, particularly younger adults, seek to avoid the large overhead costs of car ownership. It is expected that ride-sharing will be most popular in cities where vehicle ownership is not only costly but also less practical due to traffic congestion and limited parking. Ride-sharing’s reach has been enabled by widespread smartphone use and mobility apps are particularly popular in India and China, making mobility services likely to see large revenue streams in regions such as China. The industry may struggle to take over the market in areas where public transportation is well-funded and attractive to use and hence, Europe is the region where the market for urban mobility platforms that combine individual and shared mobility options has the greatest potential. Shared mobility market segmentation Car-sharing and ride-sharing represent parts of a wider aspect of the transportation industry, shared mobility. Either vehicles or mobility services are shared between consumers on an on-demand basis. Car-sharing provides consumers more privacy and less contact with strangers than ride-sharing. The value pool for ride-hailing is expected to be more than 14 times the size of the car-sharing market by 2030.

Explore the Ride Hailing Market trends! Covers key players, growth rate 16% CAGR, market size $164.14 Billion, and forecasts to 2034. Get insights now!

According to Cognitive Market Research, the global Ride-Hailing Market will be USD 191548.25 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 76619.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 57468.48 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 44056.10 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
The Latin America market will account for more than 5% of global revenue and have a market size of USD 9577.41 million in 2024. It will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3830.97 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The institutional held the highest Ride Hailing Market revenue share in 2024.

Market Dynamics of Ride Hailing Market

Key Drivers of Ride Hailing Market

Urbanization And Traffic Congestion To Increase The Demand Globally

Current urbanization trends and increased traffic congestion in many cities have further increased the demand for taxi services. As more people flock to city centers for work and play, the need for efficient and reliable transportation solutions becomes paramount. Carpool services provide a convenient alternative to owning a private car, encourage carpooling, and help alleviate traffic congestion by reducing the number of single-occupant vehicles on the road. Taxi companies are constantly improving their services to stay ahead in the competitive market. This includes introducing new features such as car sharing, luxury car options, and integration with public transportation. By diversifying their offerings and serving different customer segments, companies can attract a broader user base and increase their market share.

Flexible Employment Opportunities To Propel Market Growth

The growing popularity of taxis is also creating new opportunities for people looking for flexible working arrangements. As independent contractors, drivers have the right to set their schedules and work as many hours as they want. This flexibility appeals to a wide range of people, including students, retirees, and looking for additional income. Taxi services are often a cost-effective alternative to owning and maintaining a private vehicle or using traditional taxi services. Dynamic pricing algorithms and economies of scale allow companies to offer competitive prices that appeal to budget-conscious consumers. Additionally, the ability to split the fare between multiple passengers makes hailing a taxi even more profitable, especially for shared trips.

Restraint Factors Of Ride Hailing Market

Regulatory Oversight And Uncertainty To Limit The Sales

Many jurisdictions impose strict regulations on rideshare companies, from licensing requirements and driver background checks to limits on fare increases and vehicle emissions standards. Overcoming these regulatory hurdles can be costly and time-consuming for companies and may limit their ability to operate effectively and enter new markets. Classifying drivers as independent contractors rather than employees is a controversial issue in the taxi industry. This classification gives drivers flexibility but also denies them access to benefits such as health insurance, retirement plans, and paid time off. Several lawsuits and legal initiatives have challenged the independent contractor model, raising concerns about the rights and protections afforded to drivers and their overall well-being.

Impact of COVID-19 on the Ride-Hailing Market

The pandemic has caused a fundamental shift in consumer behavior, with many people choosing alternative transportation options such as driving their car, cycling, walking, or even staying put rather than risking exposure to the virus on public transportation. Concerns about virus infection and hygiene have made some sections of the population reluctant to use taxi services. The pandemic has had a major impact on ride-hailing drivers, who face reduced income, reduced ...

The Vietnam Ride Hailing Market Analysis Report is Segmented by Vehicle Type (Passenger Cars and Motorcycles), by Propulsion Type (Internal Combustion Engine and Electric), and by Province (Hanoi, Ho Chi Minh, Binh Duong, Dong Nai, Ba Ria-Vung Tau, Hai Phong, Quang Ninh, Bac Ninh, Thanh Hoa, Nghe An, and Other Provinces). The Industry Report Offers Size and Market Forecast for the Vietnam Ride-Hailing Market in Terms of Value (USD) for all Segments.

A forecast for the 2030 global ride-hailing market estimates that the total addressable market will total 11 trillion U.S. dollars, although not the entirety of the market is likely to be penetrated by ride-hailing service providers. The forecast assumes that by 2030, autonomous ride-hailing services will be available at a relatively low average price per mile at 0.25 U.S. dollars. This segment is expected to contribute five trillion U.S. dollars to the total global addressable ride-hailing market.

Indonesia ride hailing market size is projected to exhibit a growth rate (CAGR) of 8.15% during 2024-2032. The growing implementation of stringent regulations to ensure safety, quality, and fair competition, increasing reliance on smartphones, and the widespread availability of high-speed mobile internet represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on vehicle type, booking type, and end-use.

The revenue in the 'Ride-hailing' segment of the shared mobility market in Europe was forecast to continuously increase between 2024 and 2029 by in total 4.4 billion U.S. dollars (+22.63 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 23.86 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find more key insights for the revenue in countries like the United States and Italy.". The Statista Market Insights cover a broad range of additional markets.

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Ride Sharing Market Size 2025-2029

The ride sharing market size is forecast to increase by USD 132.4 billion at a CAGR of 18.9% between 2024 and 2029.

The market is experiencing significant growth, driven by increasing vehicle ownership costs and the emergence of autonomous ride sharing services. The former trend is pushing consumers towards more cost-effective transportation solutions, while the latter is revolutionizing the industry with innovative technology and convenience. However, this market is not without challenges. The risks of theft and the need for frequent maintenance are major concerns for both ride sharing companies and consumers. As vehicle technology advances, companies must invest heavily in security measures and maintenance infrastructure to ensure customer trust and satisfaction. Additionally, regulatory frameworks and public perception towards autonomous vehicles remain key factors that will shape the market's strategic landscape. Companies seeking to capitalize on these opportunities must stay abreast of technological advancements, regulatory developments, and consumer preferences to navigate this dynamic market effectively.

What will be the Size of the Ride Sharing Market during the forecast period?

Request Free SampleThe ride-sharing market continues to experience significant growth and innovation, driven by advancements in technology and shifting consumer preferences. Smartphone technology and GPS navigation have enabled on-demand transportation services, allowing users to easily request rides and track their journey in real-time. This market's size is substantial, with millions of vehicle trips taken daily, contributing to the reduction of traffic congestion and potential decrease in public transport usage. However, the rise of ride-sharing has also raised concerns regarding greenhouse gas emissions and air pollution. To mitigate these issues, companies are exploring the integration of vehicle-to-vehicle (V2V) communication and bolt technology to optimize routes and reduce overall emissions. Internet connectivity plays a crucial role in facilitating seamless communication between riders, drivers, and the ride-sharing platform. Overall, the ride-sharing market is poised for continued expansion and transformation, offering a more convenient, efficient, and sustainable alternative to traditional modes of transportation.

How is this Ride Sharing Industry segmented?

The ride sharing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userIndividualBusinessTypeE-hailingRentalStation-basedCar sharingGeographyAPACChinaIndiaJapanSouth KoreaEuropeFranceGermanyItalyUKNorth AmericaUSCanadaSouth AmericaMiddle East and Africa

By End-user Insights

The individual segment is estimated to witness significant growth during the forecast period.The market encompasses the use of commute services provided through partnerships between individuals and mobility service providers. Unlike traditional taxi services, ride sharing involves some planning and the utilization of personal vehicles. In 2023, this segment held a substantial market share due to its cost-effective nature. GPS navigation, smartphone technology, and internet connectivity enable riders to plan their trips and drivers to optimize routes, reducing fuel costs and traffic congestion. Vehicle trips can be shared, minimizing the number of vehicles on the road and decreasing greenhouse gas emissions. Business models include car sharing, food delivery, last-mile delivery, and autonomous ridesharing. Vehicle ownership and component replacement costs are mitigated, while passenger comfort and safety are prioritized. The transport network integrates intelligent transportation systems, automotive vehicle-to-everything, and data services. Market competition is driven by consumer preferences for convenience, ride safety, and environmental impact. Public transport alternatives and regulatory policies also influence the market. Passenger demand and operational efficiency are key factors in the market's growth.

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The Individual segment was valued at USD 51.60 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 45% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The Asia Pacific region holds the largest share in The market due to the increasing population and urbanization in both developed and developing ec

Europe Ride-Hailing Market will be USD 57468.48 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.

The global ride sharing market size reached USD 113 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 439.4 Billion by 2033, exhibiting a growth rate (CAGR) of 16.20% during 2025-2033. The market is propelled by technological advancements, economic efficiency, and a shift towards sustainable and shared transportation models, along with rising smartphone penetration and technological advancements.

As per Cognitive Market Research's latest published report, the Global Ride-Hailing Services market size was USD 46.16 Billion in 2022 and it is forecasted to reach USD 111.45 Billion by 2030. Ride-Hailing Services Industry's Compound Annual Growth Rate will be 4.87 % from 2023 to 2030. What is Driving Ride Hailing Services Industry Growth?

The rising penetration of smartphones in the worldwide and growing demand for technology-based transport modes is the main driving factor contributing to the growth of the global ride-hailing services market during the forecast period. As urban populations grow, ride-hailing is becoming a major mode of transportation, eliminating the need for personal car ownership. Additionally, the increasing popularity of alternative public transport due to its convenience, affordability, and ease of use has driven the demand for the ride-hailing services market during the forecast period. In recent years, ride-hailing services have become increasingly popular. Uber and Lyft companies operate in many countries around the world, providing transportation services to millions of people.

However, ride-hailing services have faced criticism and regulatory challenges in some countries that may obstruct the growth of the global ride-hailing services market in near future. Further, the technological advancements in transport mode applications are expected to create great opportunities for the ride-hailing services market during the forecast period. What is Ride Hailing Service?

Ride-hailing refers to the act of a customer ordering a ride online, usually through a smartphone application. A customer orders a ride from a ride-hailing platform. Ride-hailing apps offer a safe and secure alternative to public transport. Users request a ride through the company's mobile app to have a ride-hailing service specifying their pickup and drop-off locations. The app then matches the rider with a nearby driver who is available to pick them up.

The revenue in the 'Ride-hailing' segment of the shared mobility market in Asia was forecast to continuously increase between 2024 and 2029 by in total 31 billion U.S. dollars (+37.96 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 112.68 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Ride-hailing' segment of the shared mobility market was continuously increasing over the past years.Find other key market indicators concerning the average revenue per user (ARPU) and number of users. The Statista Market Insights cover a broad range of additional markets.

The Africa Ride-Hailing Market is Segmented by Vehicle Type (Motorcycles, Cars, Vans, and Buses) and Propulsion (Internal Combustion Engine (ICE) and Electric). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

The size of the Ride-Hailing Market was valued at USD 160.09 USD Billion in 2023 and is projected to reach USD 418.89 USD Billion by 2032, with an expected CAGR of 14.73% during the forecast period. Ride hailing is a subsector of the transport system whereby consumers make a request for a driver to pick them up through a smart application which connects consumers to drivers. These are generally categorized into basic service like traditional ride, ride sharing (e.g., Uber Pool) and first-class services like Uber Lux. Some of the features consist of gps tracking in real time, automatic payment, and the ability to rate drivers. Different uses of ride hailing include regular daily usage, event usage and short term trip usage, because of the convenience and flexibility it provides. It also helps in decrease in ownership of personal cars and can improve the flow of traffic in urban city by offering competition to traditional taxis and public transportation. Key drivers for this market are: Increasing Demand for Forged Products in Power, Agriculture, Aerospace, and Defense to Drive Industry Expansion. Potential restraints include: Rising Inclination Towards Electric Vehicles to Restrain the Market Growth..