The revenue in the 'Ride-hailing' segment of the shared mobility market in India was modeled to stand at *********** U.S. dollars in 2024. Between 2017 and 2024, the revenue rose by ************ U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The revenue will steadily rise by ************ U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Ride-hailing.

The India Taxi Market Report is Segmented by Booking Type (Online Booking and Offline Booking), Service Type (Ride-Hailing, Ride-Sharing/Car-Pooling, and More), Vehicle Type (Passenger Cars and More), Propulsion Type (ICE, Electric, and Hybrid), Trip Purpose (Intra-City Point-To-Point and More), and Customer Segment (Individual Consumers, Corporate/Institutional). The Market Forecasts are Provided in Terms of Value (USD).

In 2024, the ride-hailing segment led the shared mobility market in India, with around ************** users. The bike-sharing segment ranked second with approximately ************** users, while car rentals followed with about ************* users.

The India taxi market, valued at approximately $20.61 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 13.55% from 2025 to 2033. This surge is driven by several factors. Increasing urbanization and rising disposable incomes within India fuel demand for convenient and efficient transportation solutions. The proliferation of smartphones and readily available internet access has significantly boosted the adoption of online taxi booking platforms, offering users ease and transparency. Furthermore, the expansion of ride-sharing services, catering to budget-conscious consumers, adds to the market's dynamism. Technological advancements, including GPS navigation, real-time tracking, and dynamic pricing algorithms, continuously enhance the user experience, fostering market expansion. However, regulatory challenges related to licensing, pricing regulations, and safety standards present potential restraints. The market is segmented by booking type (online and offline), service type (ride-hailing and ride-sharing), and vehicle type (motorcycles, cars, and vans), offering diverse opportunities for various players. Leading companies like Ola Cabs and Uber Technologies Inc. dominate the market, facing competition from both established players and emerging startups. Competition is fierce, driving innovation and service improvements. The forecast period (2025-2033) promises continued growth, fueled by further penetration of online booking platforms in tier-2 and tier-3 cities, and a wider adoption of electric vehicles within the taxi fleet. Government initiatives promoting sustainable transportation could further accelerate this growth. However, sustained growth depends on addressing existing regulatory hurdles and managing operational challenges such as driver shortages and maintaining service quality. The market's future success hinges on adapting to evolving consumer preferences, maintaining technological innovation, and ensuring regulatory compliance. The competitive landscape will likely see consolidation and strategic partnerships as companies strive to achieve market leadership and profitability. Recent developments include: June 2023: Uber Technologies announced Electric vehicle rides at Mumbai International Airport. The Uber Green Taxi is available for passengers traveling to and from the Mumbai airport. The company aims to contribute to reducing carbon emissions and promoting sustainable mobility throughout the city., August 2023: Ola Cabs announced an expansion of its Prime Plus service to Mumbai, Pune, and Hyderabad Cities in India. Prime Plus service offers the promise of zero cancellations, the best drivers and top taxi cabs, and no operational hassles.. Key drivers for this market are: Increasing Accessibility and Utilization of Taxi Services. Potential restraints include: Increasing Accessibility and Utilization of Taxi Services. Notable trends are: Adoption of Electric Vehicles will Possess a Positive Outlook for the Taxi Market.

This statistic illustrates the share of ride hailing market across India as of December 2017, based on company. As of December 2017, Ola had a share of about **** percent in the ride hailing market across the country.

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Ride Sharing Market Size 2025-2029

The ride sharing market size is valued to increase USD 132.4 billion, at a CAGR of 18.9% from 2024 to 2029. Increase in vehicle ownership cost will drive the ride sharing market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 45% growth during the forecast period.
By End-user - Individual segment was valued at USD 51.60 billion in 2023
By Type - E-hailing segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 244.80 billion
Market Future Opportunities: USD 132.40 billion
CAGR from 2024 to 2029 : 18.9%

Market Summary

The market has witnessed significant expansion, with the global revenue surpassing USD 150 billion in 2020. This growth can be attributed to the convenience and affordability that ride-hailing services offer, especially in densely populated urban areas. Additionally, the integration of technology, such as GPS and mobile payment systems, has streamlined the user experience, making it increasingly popular. However, challenges persist, including the emergence of autonomous ride-sharing services and the associated costs of implementing this technology. Furthermore, concerns over vehicle maintenance and the risks of theft continue to pose challenges.
Despite these hurdles, the market's future remains promising, with potential opportunities in expanding to new markets and offering additional services, such as food delivery and carpooling. The ride-sharing industry's continued evolution underscores its transformative impact on personal transportation.

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

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How is the Ride Sharing Market 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-user

  Individual
  Business


Type

  E-hailing
  Rental
  Station-based
  Car sharing


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The individual segment is estimated to witness significant growth during the forecast period.

In the ever-evolving the market, scalable infrastructure plays a pivotal role in accommodating growing demand. Companies leverage map integration services and API integrations to optimize routes using route optimization algorithms, ensuring efficient pickups and drop-offs. Surge pricing models and performance monitoring tools help maintain service quality and balance supply and demand. Rider rating systems and automated dispatch systems facilitate seamless ride scheduling, while driver incentive programs and accessibility features cater to a diverse user base. Demand forecasting models and emergency response systems ensure safety and reliability, with real-time location updates and in-app communication tools keeping riders informed.

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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.

Geolocation services and user authentication methods secure data and protect user privacy. Customer support systems and fraud detection mechanisms address user concerns, while dynamic pricing algorithms and ride matching systems maintain fairness and competitiveness. Fare calculation methods and mobile application development continue to enhance user experience, with the driver onboarding process and rider onboarding process streamlining the sign-up experience. Overall, the market continues to evolve, with a significant share attributed to these innovative features and technologies in 2023. (Approximately 110 words)

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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.

See How Ride Sharing Market Demand is Rising in APAC Request Free Sample

In the market, APAC held the largest share in 2024, driven by the increasing number of cities and population growth in both developed and developing economies. The region's ride sharing services are experiencing a robust expansion due to the significant demand in countries like China, India, and Japan. These nations are recognizing ride sharing as a viable solution to address issues such as traffic congestion, air pollution, and greenhouse gas emissions.

Factors fueling the market's growth in APAC include the growing middle-class population with increasing disposable income,

The Asia-Pacific rickshaw ride-hailing service market is experiencing robust growth, driven by increasing urbanization, rising disposable incomes, and the burgeoning adoption of smartphone technology. The market's convenience, affordability compared to traditional taxis, and eco-friendliness in the case of electric rickshaws are key factors fueling its expansion. A Compound Annual Growth Rate (CAGR) of 21.50% from 2019 to 2024 indicates a significant upward trajectory. While precise market size figures for 2025 are unavailable, projecting from the historical data and considering the sustained growth rate, a reasonable estimate places the market value at approximately $2.5 billion for 2025. This figure is supported by the growing number of players—including both established ride-hailing giants like Grab and Gojek, and regional startups like Mauto Electric Mobility—actively competing for market share. The market is segmented based on application (freight and passenger commuting), booking type (online and offline), payment methods (cashless and e-wallets), and propulsion type (electric and internal combustion engine). The preference for cashless transactions and the increasing availability of electric rickshaws contribute to the market's dynamism. Significant growth potential exists in less penetrated markets within the region, particularly in countries with high population density and limited public transportation options. However, challenges remain, including regulatory hurdles related to licensing and safety standards, and the need for improved infrastructure to support the expansion of electric vehicle charging networks. The dominance of major players like Grab and Gojek highlights the competitive landscape. However, the market also offers significant opportunities for smaller, localized firms specializing in specific niches, such as freight transportation or electric rickshaw services. Further growth will be determined by the success of these companies in adapting to evolving consumer demands, leveraging technological advancements, and navigating regulatory landscapes. The increasing adoption of innovative technologies such as GPS tracking, real-time fare calculation, and integrated payment systems is expected to enhance the user experience and drive market growth. The future success of the market hinges on a synergistic relationship between technological innovation, supportive government policies, and the continued expansion of e-commerce and logistics activities within the region. This market segment displays a strong growth forecast extending into 2033. This comprehensive report provides an in-depth analysis of the rapidly evolving Asia-Pacific rickshaw ride hailing service market. Covering the historical period (2019-2024), base year (2025), and forecast period (2025-2033), this study offers invaluable insights for stakeholders seeking to understand this dynamic sector. The market is segmented by application (freight and logistics, passenger commuting), booking type (online, offline), payment method (cashless, e-money/e-wallet), and propulsion type (electric, internal combustion engine). Key players like Uber, Ola Cabs, Gojek, and numerous regional players are analyzed, revealing market concentration, competitive dynamics, and future growth trajectories. This report uses data valued in the millions. Recent developments include: In 2021, Uber India announced increasing its electric vehicle fleet to 3,000 e-vehicles due to trending e-mobility and green technology trends in the country. The company also has plans to establish charging infrastructures and partnered with OEM to smoothen its operations.. Key drivers for this market are: Increasing Inclusion of E-bikes in the Sharing Fleet. Potential restraints include: Limited Infrastructure May Hinder Market Growth. Notable trends are: Rising Tourism, Leisure Traveling and Logistics Sector.

India Taxi Market size was valued at USD 21.2 Billion in 2024 and is projected to reach USD 34.3 Billion by 2032, growing at a CAGR of 6.18% from 2026 to 2032. Key Market DriversRapid Urbanization and Growing Middle Class: India's growing urbanization and development of the middle class are driving up demand for taxi services. As of 2023, 35% of the populationmore than 480 million peoplelives in cities, up from 31% in 2011. Simultaneously, the middle class has increased to roughly 430 million, increasing the demand for convenient, comfortable transportation. With daily urban mobility trips expected to more than doublefrom 230 million in 2018 to 540 million by 2030taxi services face a significant opportunity, fueled by rising wages, time restrictions, and increased preferences for on-demand transportation.Rising Tourism and Business Travel: India's booming tourism and business travel industries are major drivers of taxi service demand.

The global ride-hailing and taxi market size was USD 270.81 billion in 2024 & is projected to grow from USD 301.52 billion in 2025 to USD 712.08 billion by 2033.
Report Scope:

The India Taxi Market was valued at USD 21.41 billion in 2025 and is expected to reach USD 30.65 billion by 2031 with a CAGR of 6.16% during the forecast period.

In the shared mobility market in India in 2024, the ride-hailing segment generated the highest revenue, reaching approximately *********** U.S. dollars. The car rentals segment ranked second with around ************ U.S. dollars, while bike-sharing followed with about ************ U.S. dollars.

The global ride-hailing service market size was valued at USD 191.3 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 381.3 Billion by 2033, exhibiting a CAGR of 7.97% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 35.0% in 2024. The market is driven by urbanization, increasing smartphone penetration, rising disposable income, convenience, affordability, traffic congestion concerns, digital payment adoption, growing demand for shared mobility, fuel cost fluctuations, government policies, sustainability initiatives, AI-driven route optimization, safety features, and the expansion of electric and autonomous vehicles, fostering competition.

IMARC Group provides an analysis of the key trends in each segment of the global ride-hailing service market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on vehicle type, service type, payment method, location type and end user.

According to Cognitive Market Research, the global Ride Sharing Market size will be USD 43524.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 14.50% from 2025 to 2033.

North America held the major market share for more than 37% of the global revenue with a market size of USD 16104.18 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.3% from 2025 to 2033.
Europe accounted for a market share of over 29% of the global revenue with a market size of USD 12622.19 million.
APAC held a market share of around 24% of the global revenue with a market size of USD 10445.95 million in 2025 and will grow at a compound annual growth rate (CAGR) of 16.5% from 2025 to 2033.
South America has a market share of more than 3.8% of the global revenue with a market size of USD 1653.94 million in 2025 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2025 to 2033.
Middle East had a market share of around 4.00% of the global revenue and was estimated at a market size of USD 1740.99 million in 2025 and will grow at a compound annual growth rate (CAGR) of 13.8% from 2025 to 2033.
Africa had a market share of around 2.20% of the global revenue and was estimated at a market size of USD 957.55 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2025 to 2033.
Plug-in Electric Vehicle (PEV)category is the fastest growing segment of the Ride Sharing industry.

Market Dynamics of Ride Sharing Market

Key Drivers for Ride Sharing Market

Increasing internet and smartphone penetration to Boost Market Growth

The surge in internet data usage and the quick adoption of smart devices like smartphones and smart watches have opened up a lot of potential for ride-sharing services globally, which has accelerated the expansion of the ride-sharing business. To use ride-hailing services, you must have internet access. In order to obtain ride statistics and navigation, users must have internet connectivity in order to download ride-providing apps to their mobile devices. Telematics, navigation, and V2V communication all require internet access. Numerous safety features are also offered by smartphone applications, such as the vehicle's number, route tracing information, the driver's identity, number, and image, and records of prior travels. Every year, the number of automobiles adding to global emissions has grown. One of the biggest contributors of greenhouse gasses in the world is the automobile sector. The motor industry, private groups, and the government are all working harder to reduce the rising CO2 emissions. To help lessen the effects of climate change in the years to come, the European Union's Paris Agreement on Climate Change, the Ministry of Environment and Climate Change in India, and the International Institute for Sustainable Development in Canada have all set high standards and goals, like expanding forest cover.

Rising Micromobility Demand to Boosts the Need for Advanced Ride Sharing to Boost Market Growth

Micro-mobility is the ability to move short distances in vehicles with only one or two seats. Motorcycles, scooters, longboards, and mopeds are examples of light vehicles that fall under this category. A smart option for city commuters seeking a quick trip without the inconvenience of public transportation is shared micro-mobility. The idea of micro-mobility greatly affects how bikes and scooters are used and how much money can be made from them. There is a great chance for micro-mobility to assist ease the growing traffic congestion, especially in large cities. In Geneva, the business has launched the electric scooters Cityskater and Streetmate. Together, Daimler and BMW rental scooters are available in over six European cities.

Restraint Factor for the Ride Sharing Market

High cyber threat risk and opposition from traditional transport services of Ride Sharing, Will Limit Market Growth

Drivers of traditional three-wheelers and taxis are having arguments and conflicts as a result of the increasing use of ride-sharing services worldwide. In comparison to typical transport service providers, ride service providers offer additional benefits such complete ride data, more convenient options, and reasonably priced doorstep pick-up and drop-off. As a result, taxi drivers in nations like India and Japan are fighting against ride-sharing services. However, the passengers may be in danger d...

We asked Indian consumers about "Ride sharing/hailing / online taxi usage by brand" and found that "Uber" takes the top spot, while "Zify" is at the other end of the ranking.These results are based on a representative online survey conducted in 2024 among ***** consumers in India.

The global Ride-Hailing Service market is poised for substantial expansion, projected to reach an estimated market size of $45,280 million by 2025, driven by a robust Compound Annual Growth Rate (CAGR) of 9.4% throughout the forecast period of 2019-2033. This significant growth is underpinned by several key factors. The increasing adoption of smartphones and widespread internet penetration globally has made ride-hailing services readily accessible to a broader consumer base. Urbanization continues to fuel demand for convenient and efficient transportation alternatives to private vehicle ownership, especially in densely populated areas where parking and traffic congestion are persistent challenges. Furthermore, the evolving consumer preference for on-demand services, coupled with the convenience and often cost-effectiveness compared to traditional taxis, are significant catalysts. The market's expansion is also influenced by continuous innovation in service offerings, including the integration of advanced features like in-app payments, real-time tracking, and a variety of vehicle options catering to diverse user needs, from individual commutes to group travel. The ride-hailing landscape is segmented by both application and type, reflecting its diverse utility and service models. The 'Group' application segment, encompassing shared rides and pooled options, is expected to see considerable traction as users increasingly seek economical and environmentally conscious transportation. 'Personal' applications remain a core driver, offering a direct and convenient mode of transport for individual needs. The market is also categorized by service types, with 'E-hailing' continuing to dominate due to its established infrastructure and widespread user familiarity. However, 'Car Rental' and 'Car Sharing' services are gaining momentum, particularly in specific urban contexts and for users requiring flexibility or longer-term access to vehicles. Geographically, North America, Europe, and Asia Pacific are expected to remain the dominant regions, with the Asia Pacific region showing particularly strong growth potential owing to rapid economic development and increasing disposable incomes in key markets like China and India. Strategic investments by major players, coupled with supportive regulatory frameworks in certain regions, will further propel market growth and innovation in the coming years.

The global ride sharing market size is projected to grow from USD 87.68 billion in 2025 to USD 918.15 billion by 2033, exhibiting a CAGR of 21.05%.
Report Scope:

Explore the India Taxi Market's rapid growth, projected to reach $20.61 billion with a 13.55% CAGR. Discover key drivers, trends like online booking & ride-hailing, and major players shaping India's transportation future. Key drivers for this market are: Increasing Accessibility and Utilization of Taxi Services. Potential restraints include: Stringent Transportation Regulatory Hurdles to Restrict the Market Growth. Notable trends are: Adoption of Electric Vehicles will Possess a Positive Outlook for the Taxi Market.

The India shared mobility market size reached USD 102.56 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 184.31 Billion by 2033, exhibiting a growth rate (CAGR) of 6.73% during 2025-2033. The rising urbanization, increasing smartphone penetration, government support for sustainable transport, high fuel costs, growing environmental awareness, improved digital payment systems, expanding ride-hailing and car-sharing services, and demand for cost-effective, convenient, and flexible transportation solutions are the factors propelling the growth of the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on Service Model, Channel, and Vehicle.

In Global EV Ride Hailing Market ,Europe, China, and the United States, which also have experienced greater BEV adoption in ride hailing fleets than India, have indeed put in place appropriate non-monetary policy initiatives to augment financial assistance.

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. Market Dynamics of Ried Hailing Services Market

Key Drivers

Rapid urbanization to increase demand for ride-hailing services

Rapid urbanization and changing consumer lifestyles have significantly boosted the demand for ride hailing services. As cities grow and become more densely populated. Large population lead to commuting and travel demands. Both individuals as well as businesses face challenges with transportation, including traffic congestion, shortage of parking spaces and limited transportation options. Ride hailing services offer the convenience of on-demand transportation with real-time tracking and dynamic pricing, making them appealing to consumers. In areas with limited public transportation, ride-hailing services are crucial to last-mile connectivity. Ride sharing and carpool services further provide a convenient alternative to owning private vehicles and help tackle traffic congestion by reducing the number of single-occupant vehicles on the road. Companies like Uber, Lyft, and Didi are now integral to city transport, providing options that are both convenient and economical compared to traditional methods.

For instance, nearly 75% of Europeans living in urban areas suffer from congestion, poor air quality and less optimal urban space, but still over-rely on personal cars due to the lack of more affordable and accessible options.

Opportunities for flexible employment to fuel market growth

The global ride hailing market large and growing market, primarily driven by the increasing demand for on-demand transportation and the adoption of new technologies. The rise in demand also creates multiple flexible job opportunities, allowing drivers the freedom to set their own schedules and work when they want. The ride hailing market presents low barriers of entry because drivers use their own vehicle or rented cars to offer rides whenever they choose. The flexibility appeals to wide range, including students, retirees and others looking for a source of additional income or a more adaptable work schedule. Ride hailing is one of the leading sectors propelling the growth of gig economy. This is particularly beneficial to developing economies like India, among other emerging economies in South-East Asia, South America, The Middle East and Africa, where a significant portion of the population is unemployed.

For instance,

22% of all U.S. consumers work on the side to enhance their cash flow.
As of 2024, there were more than 7 million monthly drivers on the Uber platform around the world.
In India, the National Skill Development Corporation (NSDC) and bike taxi aggregator Rapido signed a Memorandum of Understanding that aims to connect skilled worker with flexible employment, targeting over 500,000 driver positions monthly, including female drivers.

(Source:https://www.pymnts.com/gig-economy/2024/ride-hailing-platforms-earnings-underscore-gig-economys-momentum/ )

(Source: https://www.uber.com/newsroom/onlyonuber24/ )

(Source:https://www.autocarpro.in/news/renault-opens-design-centre-in-chennai-as-part-of-india-transformation-strategy-126017 )

Restraints

Complex regulatory systems significantly restrain growth

The global ride hailing market is significantly impacted by complex and irregular regulatory systems. Laws and regulations differ by region, making it challenging for ride-hailing services to function smoothly across borders. These include licensing requirements, driver background checks, safety requirements and limit on fares and vehicle emission standards.

For instance,

Global emissions regulations, led by the EU’s 2025 CO2 reduction targets, are pressuring on such to accelerate adoption of zero-emission technologies.
Different jurisdictions treat this issue differently. For instance, in the US, excessive pricing is not considered as an offence, while in the EU in might be considered an abuse of dominant position under Article 102(a) of the Treaty on the Functioning of the European Union (TFEU). (OECD, 2018, p. 27).

(Source:https://www.dentons.com/en/insights/articles/2025/january/23/trends-and-challenges-shaping-the-automotive-industry-in-2...