The market will be around USD 5,311 million in 2025 and is expected to reach up to USD 21,642 million by 2035 at a compound annual growth rate (CAGR) of 15.1% for the period 2025 to 2035.

Metric	Value
Industry Size (2025E)	USD 5,311 million
Industry Value (2035F)	USD 21,642 million
CAGR (2025 to 2035)	15.1%

Country Wise Outlook

Country	CAGR (2025 to 2035)
USA	11.4%

Country	CAGR (2025 to 2035)
UK	15.2%

Country	CAGR (2025 to 2035)
European Union	7.6%

Country	CAGR (2025 to 2035)
Japan	9.8%

Country	CAGR (2025 to 2035)
South Korea	6.5%

Competitive Outlook

Company Name	Estimated Global Market Share (%)
Uber Technologies, Inc.	35%
Didi Chuxing	15%
Lyft, Inc.	12%
Ola Cabs	10%
Grab	7%
Other Companies (combined)	21%

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.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 191.3 Billion
Market Forecast in 2033	USD 381.3 Billion
Market Growth Rate 2025-2033	7.97%

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.

Analysis from GMI Research finds that the Ride Hailing Service Market earned revenues of USD 31.4 billion in 2022 and estimated to touch USD 97.4 billion in 2030 will grow at a CAGR of 15.2% from 2023-2030

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 2025 and 2029 by in total 37 billion U.S. dollars (+21.06 percent). After the ninth consecutive increasing year, the revenue 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.

Taxi and Ride-hailing Services Market Outlook

As of 2023, the global taxi and ride-hailing services market size is estimated to be approximately USD 150 billion, with a projected compound annual growth rate (CAGR) of 10.5% from 2024 to 2032, which would take the market size to around USD 374 billion by 2032. The growth of this market is primarily driven by urbanization, increasing smartphone penetration, and the convenience offered by ride-hailing services.

One of the major growth factors for the taxi and ride-hailing services market is the rapid pace of urbanization. As more people move to urban areas, the demand for efficient, cost-effective, and convenient transportation solutions has skyrocketed. Urban dwellers often prefer ride-hailing services over owning private vehicles due to the high cost of vehicle maintenance, fuel, and parking. Additionally, urban congestion has made ride-hailing services an attractive alternative, helping to reduce traffic and environmental impact.

The increasing penetration of smartphones and internet connectivity has also been a key driver for this market. With the proliferation of affordable smartphones and widespread internet access, more people can easily book rides through various ride-hailing apps. Companies like Uber, Lyft, and Didi Chuxing have capitalized on this trend by offering user-friendly interfaces and seamless booking experiences. This technological advancement has made it easier for consumers to access ride-hailing services, thereby contributing to market growth.

The convenience and flexibility offered by ride-hailing services are another significant factor contributing to market growth. Unlike traditional taxi services, ride-hailing platforms provide users with the ability to book rides on-demand, schedule rides in advance, and even choose the type of vehicle they prefer. This level of convenience has attracted a wide range of users, from daily commuters to occasional travelers. The availability of multiple payment options, including cashless transactions, further adds to the convenience, making ride-hailing services a preferred choice for many.

The role of Transportation Aggregators has become increasingly significant in the evolution of the taxi and ride-hailing services market. These aggregators act as intermediaries, connecting passengers with a network of drivers through digital platforms. By leveraging technology, transportation aggregators streamline the process of booking rides, ensuring that users can access transportation services quickly and efficiently. This model not only enhances user convenience but also provides drivers with a steady stream of passengers, optimizing their earnings potential. As the market continues to grow, transportation aggregators are likely to play a pivotal role in shaping the future of urban mobility, offering innovative solutions to meet the diverse needs of modern commuters.

Regionally, the Asia Pacific market is expected to dominate the taxi and ride-hailing services market during the forecast period. This growth can be attributed to the large population base, rapid urbanization, and increasing disposable incomes in countries like China and India. Moreover, the presence of major market players such as Didi Chuxing in China and Ola in India significantly contributes to the region's market growth. North America and Europe are also notable markets, driven by high smartphone penetration and the early adoption of ride-hailing services. Meanwhile, Latin America and the Middle East & Africa are emerging markets with significant potential for growth due to improving economic conditions and increasing urbanization.

Service Type Analysis

The taxi and ride-hailing services market is broadly segmented by service type into E-hailing, Car Rental, Car Sharing, and Station-based Mobility. E-hailing, which involves booking rides through digital platforms, is the most dominant segment and is expected to continue its growth trajectory over the forecast period. The convenience, speed, and efficiency offered by e-hailing services have made them immensely popular among urban dwellers. Companies like Uber and Lyft have played a significant role in popularizing e-hailing, and continuous technological advancements are expected to further boost this segment.

Car rental services, which allow users to rent vehicles for a specific period, have also seen a surge in demand. This segment is particularly popular among touris

Ride-Hailing Market is estimated to be valued at USD 181.72 Bn in 2025 and is expected to expand at CAGR of 13.5%, reaching USD 441.20 Bn by 2032.

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.

The Asia-Pacific Rickshaw Ride Hailing Service Market report segments the industry into Application (Freight and Logistics, Passenger Commuting), Booking Type (Online, Offline), Payment (Cashless, Cash, E-Money / E-Wallet), Propulsion Type (Electric, Internal Combustion Engine), and Country (China, Japan, India, South Korea, Rest of Asia-Pacific). Get five years of historical market data and forecasts.

The Egypt Ride Hailing Service Market size was valued at USD 1.11 billion in 2023 and is projected to reach USD 3.10 billion by 2032, exhibiting a CAGR of 15.8 % during the forecasts period. The Egypt ride-hailing service market relates to a combination of internet-based applications that directly connect the passenger with drivers and available cars to get from one place to another in an efficient manner. Major contenders involve independent drivers and suppliers of services such as car-hailing, motorbike taxis, and shared transport services. Major usage includes afternoon rush hour traffic, Airport transportation, and local transport within a city. The factors that can create market growth are the rising of smartphone usage, the expanding urbanization rate, and indeed the growing need for low-cost but efficient modes of transit. Also, better safety measures required, cashless payment systems, real-time tracking along with safety features, and affordable pricing models are acting as key factors in improving user experience and growing app downloads in the rapidly growing ride-hailing market in Egypt.

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 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.

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.

Ride Hailing Services Market Outlook

The global ride hailing services market size reached approximately $90 billion in 2023 and is projected to expand to around $200 billion by 2032, registering a compound annual growth rate (CAGR) of 9%. The rapid growth of the market can be attributed to multiple factors including the increasing urbanization, the rise in consumer preference for convenience and ease of transportation, and the integration of technology in seamless app-based service delivery. This growth is further supported by the significant investments from venture capitalists and technological giants, heralding a transformative shift in urban mobility solutions.

One of the primary growth drivers of the ride hailing market is the rising urban population across the globe, leading to increased demand for efficient and convenient modes of transportation. Urban areas are experiencing a swell in population as people move from rural to metropolitan regions in search of better opportunities and lifestyles. This urban influx has caused traffic congestion and parking challenges, thereby creating a conducive environment for the ride hailing industry to flourish. Ride hailing services offer a solution to these urban challenges by providing a flexible, on-demand transportation option that reduces the need for individual car ownership and improves the efficiency of transit systems.

The integration of technology, particularly the widespread adoption of smartphones and mobile applications, has been instrumental in the growth of the ride hailing market. This technological evolution has enabled ride hailing companies to offer enhanced user experiences through seamless app interfaces, real-time tracking, and cashless transactions. Artificial intelligence and machine learning algorithms are being used to optimize routes, improve safety features, and provide personalized services to users. Moreover, the Internet of Things (IoT) is being utilized to manage fleets more effectively, ensuring higher availability and reliability of services, which in turn boosts consumer confidence and market growth.

Another significant growth factor is the changing consumer behavior and the growing inclination towards shared mobility solutions. The millennial generation, which forms a large part of the consumer base, is increasingly prioritizing access over ownership. This shift is driven by environmental concerns, economic factors, and the pursuit of hassle-free mobility. Ride hailing services align perfectly with these preferences, offering affordable and sustainable transportation alternatives that reduce the carbon footprint associated with traditional car ownership. This paradigm shift has not only expanded the customer base but has also encouraged traditional automotive companies to enter the ride hailing market, thereby enhancing the competitive landscape and pushing for further innovations.

The evolution of Car Hailing Software has been a cornerstone in the transformation of the ride hailing industry. These software solutions have enabled companies to streamline operations, enhance user experience, and ensure safety and reliability. By leveraging advanced algorithms and real-time data analytics, car hailing software facilitates efficient fleet management and route optimization, reducing wait times and improving service quality. Furthermore, these platforms provide drivers with tools to enhance their performance and customer satisfaction, fostering a more competitive and dynamic market environment. As technology continues to evolve, car hailing software is expected to integrate more sophisticated features such as predictive analytics and AI-driven insights, further revolutionizing urban mobility.

Regionally, the market outlook varies, with Asia Pacific leading the charge due to its burgeoning urban population and technological advancements. North America follows closely, driven by high penetration of smartphones and a robust digital payment infrastructure. In contrast, Europe is witnessing steady growth due to stringent environmental regulations and a strong push for sustainable transportation solutions. Latin America and the Middle East & Africa are emerging markets where ride hailing services are gaining traction due to improving economic conditions and increasing investment in transportation infrastructure. These regional dynamics play a crucial role in shaping the overall growth trajectory of the global ride hailing services market.

Service Type Analysis

Within the serv

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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 the increasing cost of vehicle ownership and the emergence of autonomous ride sharing services. The high cost of maintaining and operating personal vehicles has led consumers to opt for more cost-effective transportation alternatives. Simultaneously, the development and implementation of autonomous ride sharing technology are revolutionizing the transportation industry, offering convenience, efficiency, and cost savings. However, this market is not without challenges. The risks of theft and the need for frequent maintenance pose significant obstacles for ride sharing companies.
Ensuring the security of vehicles and passenger safety while minimizing downtime for maintenance are critical issues that must be addressed to capitalize on the market's potential. Companies that can effectively manage these challenges and leverage the opportunities presented by the increasing demand for cost-effective and convenient transportation solutions will thrive in this dynamic market.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The ride-sharing market continues to evolve, with dynamic interplays between various components shaping its landscape. Ride-hailing insurance policies adapt to accommodate the unique risks associated with this sector, while ride-sharing apps optimize efficiency through real-time route planning and dynamic pricing. Sustainability is a growing concern, with electric vehicle integration and emissions reduction initiatives becoming increasingly prevalent. Passenger safety remains a priority, with ongoing advancements in ride-sharing regulations and safety features. Business models evolve to cater to diverse consumer needs, from mobility-as-a-service (MaaS) offerings to fleet management solutions. Accessibility is a key focus, with partnerships between ride-sharing platforms and public transportation systems enhancing overall mobility options.

Ride-sharing revenue streams are diversifying, with network effects, cost optimization, and shared mobility models driving growth. Autonomous vehicle integration and urban planning initiatives are reshaping the ride-sharing landscape, offering potential for increased efficiency and reduced congestion. Regulations and infrastructure adapt to accommodate these changes, while customer experience is enhanced through mobile payment integration and ride-hailing analytics. The social impact of ride-sharing is under scrutiny, with ongoing discussions surrounding ride-sharing's role in community development and economic growth. Ride-sharing partnerships extend beyond transportation, with companies exploring opportunities in logistics, delivery services, and even tourism. The future of ride-sharing is characterized by continuous innovation and adaptation, with ongoing advancements in technology, business models, and regulations shaping its trajectory.

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-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.

The market is characterized by various entities that have significantly influenced its dynamics and trends. Ride sharing business models, such as Uber and Lyft, have disrupted traditional taxi services by enabling individuals to share rides in privately-owned vehicles. This collaborative approach has led to increased accessibility and affordability, making it a popular choice for commuters. Ride sharing apps have streamlined the booking process, allowing passengers to request rides at their convenience. These apps also facilitate real-time route optimization and dynamic pricing, ensuring efficient and cost-effective travel. Ride-hailing insurance and partnerships with ride-hailing platforms have addressed concerns around passenger safety and driver incentives.

Regulations and infrastructure development have also played a crucial role in the market's growth. Sustainability initiatives, such as electric vehicle integration and emissions reduction, have become essential c

The size and share of this market is categorized based on Application (Urban Transportation, Commuting, Business Travel, Tourism) and Product (On-Demand Ride Services, Carpooling Services, Ride-Sharing Services, Luxury Ride Services) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

The size of the Global Ride Hailing Services Market was valued at USD 31.95 billion in 2023 and is projected to reach USD 88.68 billion by 2032, with an expected CAGR of 15.7 % during the forecast period. Global ride-hailing services, including Uber, Lyft, and Bolt, have transformed urban transportation. These services have made it possible for passengers to connect with drivers using mobile applications. They can now request rides, track their drivers, and make payments using their smartphones. These services have caused a tremendous disruption in the transportation industry across the globe, and their flexibility has been often at a lower price than that of a taxi. Uber, for example, has presence in over 900 metropolitan areas worldwide and is one of the most recognizable brands in the sector. Standard rides are also accompanied by carpooling, delivery, and even electric scooter rentals on these platforms. These services expand continuously and have impacted the society on so many different aspects such as reduction in traffic congestion to promoting shared mobility. Integration of GPS, dynamic pricing, and ratings into ride-hailing systems across the world increases efficiency and makes these global ride-hailing platforms even more appealing. Recent developments include: In December 2022, Lyft announced that the company will be providing incentives to drivers switching to electric vehicles in California, along with an educational website and further plans to expand its car rental program. , In November 2022, Lyft and Motional launched their robotaxis in Los Angeles. The 'robotaxi' is a self-driven electric vehicle with no requirement for a human driver. .

The Indonesia online ride-hailing market, valued at $2.88 billion in 2025, exhibits robust growth potential, projected to expand at a compound annual growth rate (CAGR) of 8.80% from 2025 to 2033. This expansion is driven by several key factors. Firstly, Indonesia's burgeoning middle class and increasing smartphone penetration fuel demand for convenient and affordable transportation options. Secondly, the rise of e-commerce and digital payments further supports the market's growth, providing a seamless user experience. The dominance of online booking further underscores the market’s preference for digital convenience. This segment is expected to continue its strong performance. The market is segmented by vehicle type (two-wheelers, passenger cars), booking type (online, offline), and end-use (personal, commercial). While online booking currently holds a significant majority of the market, offline bookings still represent a notable portion, particularly in less digitally penetrated areas. The strong growth in the personal segment is driven by increasing urbanization and the need for daily commutes, while the commercial segment, involving corporate travel and logistics, presents a growing avenue for expansion. Competitive intensity is high, with major players like Gojek, Grab, and Traveloka vying for market share, leading to innovations in service offerings and pricing strategies. This competitive landscape fosters innovation and pushes companies to improve efficiency and customer experience. The market's growth, however, is not without challenges. Regulatory uncertainties and infrastructure limitations pose potential restraints. Government regulations regarding ride-hailing operations, licensing, and pricing can impact profitability and market expansion. Furthermore, traffic congestion and inadequate infrastructure in certain areas can affect service delivery and overall user experience. Despite these restraints, the long-term outlook remains positive, driven by continued technological advancements, improved infrastructure development, and ongoing efforts by ride-hailing companies to adapt to the evolving regulatory environment. The market's impressive growth trajectory is expected to continue, solidifying Indonesia's position as a key player in the Southeast Asian ride-hailing landscape. Recent developments include: May 2024: Indonesian ride-hailing firm Gojek concluded its Series F funding round, reportedly securing over USD 1 billion in investments from backers, including Google, JD.com, Tencent, Mitsubishi Corporation, and Provident Capital., February 2024: Grab Holdings Ltd and GoTo Group, Southeast Asia's leading ride-hailing companies, reopened discussions regarding a potential merger. This move is seen as a strategic effort to counterbalance losses from intense market competition between the two entities.. Notable trends are: The Personal/Tourism Segment to Positively Drive the Market.

Companies in this industry enable users to request and pay for rides using mobile applications.

The ride-hailing market, valued at $185.64 million in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) of 9.64% from 2025 to 2033. This expansion is fueled by several key factors. Increasing urbanization and the rising middle class in developing economies are driving demand for convenient and affordable transportation alternatives. Technological advancements, such as improved app functionalities, real-time tracking, and cashless payment options, continue to enhance user experience and attract new customers. Furthermore, the integration of electric vehicles within the ride-hailing sector is gaining momentum, responding to growing environmental concerns and governmental regulations promoting sustainable transportation. The industry is also seeing diversification in service offerings, with the emergence of specialized services catering to specific needs, such as delivery services, premium rides, and carpooling options, adding to overall market growth. However, the ride-hailing industry faces challenges. Stringent regulations regarding driver licensing, insurance, and fare pricing vary significantly across different regions, impacting operational efficiency and profitability. The intense competition among established players and the emergence of new entrants create a dynamic and potentially volatile market environment. Fluctuations in fuel prices can impact operational costs, particularly for companies heavily reliant on internal combustion engine vehicles. Addressing these regulatory hurdles and managing operational costs effectively will be crucial for sustained growth and profitability within the ride-hailing sector over the forecast period. The market segmentation reveals a significant contribution from car-based services, with motorcycles and vans representing niche but growing segments, particularly in specific geographic regions. The transition towards electric propulsion is gradual but expected to accelerate in the coming years. Recent developments include: April 2024: The Japanese government implemented the use of private ride-hailing services, which are accessible through mobile applications such as Uber and Go., March 2024: Alphabet's autonomous driving division, Waymo, introduced its ride-hailing service, Waymo One, in Los Angeles, California. The service is being offered to the public for free, and this decision was made after the successful completion of the Waymo One Tour program that the company initiated in the city., December 2023: TH International Limited, the exclusive operator of Tim Hortons coffee shops and Popeyes restaurants in China, announced a partnership with the ride-hailing company DiDi Chuxing as part of a brand-building campaign. This new partnership will focus on cross-brand and cross-channel marketing, leveraging DiDi's large customer base to increase awareness of the Tims China brand.. Key drivers for this market are: Rising Traffic Congestion and Increasing Urban Population to Foster Market Growth. Potential restraints include: Rising Traffic Congestion and Increasing Urban Population to Foster Market Growth. Notable trends are: The Cars Segment is Expected to Gain Traction During the Forecast Period.