Uber dominated the global market for ride-hailing, with a market share of 25 percent in 2022. Lyft was ranked a distant second with a market share of eight percent.

North American market remains key to Uber's revenue In recent years, Uber has expanded outside its home market in North America. Revenues in Europe, the Middle East, and Africa have grown particularly strongly, more than doubling between 2021 and 2022. However, the U.S. and Canada continue to account for the company's highest revenue. In 2022, revenue from North America made up 61 percent of Uber's global revenue. Competition from Lyft Globally, Lyft can only claim eight percent of the ride-hailing market share. The company only operates in the United States and Canada, limiting its ability to gain new users. In the United States, however, the company has a much larger share of the market. As of September 2023, Lyft controlled around a quarter of the U.S. ride-hailing market. Lyft has been losing market share, though. In 2021, Lyft had still held around a quarter of the market, losing ground to Uber.

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).

Being almost synonymous with the ride-sharing industry, Uber’s share of the U.S. market has fluctuated between 68 and 76 percent since 2017. The remaining market is dominated by Lyft, which accounted for 24 percent of the market in March 2024. Ridesharing industry While Uber’s U.S. market share may be largely stagnant, the company is still growing strongly in terms of revenue and, although to a lesser extent, ridership. There are several reasons for this. First, Uber is a global company, whereas Lyft only operates in the North American market. Secondly, the overall size of the global ride-sharing market is growing and projected to continue expanding to over 226 billion U.S. dollars. In addition, Uber has been expanding into other services, including food delivery and payments. Driver conditions Ride-sharing companies have received criticism for classifying drivers as independent contractors rather than employees. This means drivers need to pay for their own operating expenses and may not have access to basic employment rights such as a minimum wage (in districts where one exists). There has also been legal action taken against Uber for underpayment of their drivers and misrepresenting potential earnings.

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.

As of March 2022, the revenue share of Grab in Singapore's ride-hailing market reached 50.2 percent. Over the first quarter of 2022 Grab remained the market leader, followed by Gojek with a market share of around 18 percent.

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 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.

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 ...

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.

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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

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.

Explore the Ride Sharing Global Market Report 2025 Market trends! Covers key players, growth rate 21.4% CAGR, market size $341.1 Billion, and forecasts to 2033. Get insights now!

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.

As of January 2023, the market share by order volume of Gojek in Indonesia's ride-hailing transportation industry reached 50 percent. Grab had the highest market share in February 2022, at 54 percent. In 2022, the Singaporean company had generated a total revenue of 275 million U.S. dollars in Indonesia.

Ride-hailing market in Indonesia

Gojek and Grab are the two leaders in the Indonesian ride-hailing market. They cater to the country's reliance on private cars and motorcycles for daily travel. In 2022, the Gojek app was downloaded 18.99 million times, while Grab has been downloaded more than 13.58 million times in the country. These apps are now considered super-apps, with services that go beyond transportation and include deliveries, various on-demand offers, and facilitated payments via e-wallet. Gojek allows payments via GoPay, and Grab uses OVO, both of which are among the most popular e-wallets in Indonesia.

Consumer preferences among ride-hailing users 

In the Indonesian ride-hailing market, two-wheeler services are particularly popular. As of January 2023, 34 percent of Grab users were using only GrabBike, the motorcycle-taxi service, while 40 percent were also using car rides. As for Gojek, a larger proportion of users, 40 percent of them, used GoRide only, while 44 percent also switched to cars. Since 2017, the company has partnered with Bluebird, the cab company, offering their taxi service on the app in addition to Gocar.

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..

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 Report Covers Indonesia’s Ride Hailing Market Size and Companies. It is Segmented by Vehicle Type (Two-Wheelers and Passenger Cars), Booking Type (Online and Offline), and End Use (Personal and Business). The Market Size and Forecasts are Provided in Terms of Value (USD) for the Above-Mentioned Segments.