07 March 2019
The phenomenal growth in Ride E-Hailing Market Size, popularised by Uber but also other key players, is a major transition in how people travel. Car usage is gradually shifting away from car ownership towards an ‘on-demand mobility’ model whereby cars are hailed for each individual journey. This is especially the case for younger people, and those in developing countries who cannot afford to purchase a car or pay for insurance. This not only has profound implications for the carmarkers, but also city planners, regulators and government.
The constant investment flows towards the e-hailing companies’ efforts are the key indicators for the E-hailing market growth. Even the start-up companies have been gaining attention of the investors, due to which the industry has seen several companies entering this market in a very short space of time. The early entrants including Uber have expanded dynamically and gained a strong foothold in every market where the demand for e-hailing is budding.
Leading companies such as Uber, Careem, Grab Taxi, Lyft and others are investing strongly in the E-hailing market which Visiongain evaluates at $15.12bn in 2019.
The lead analyst commented that "The global e-hailing market has seen phenomenal growth in the recent past, owing to the consistent inflows of funding coupled with the convenience offered by such apps. While, the developed countries already have a strong public transportation infrastructure, the developing countries with comparatively weaker infrastructure and commuting options, have been embracing e-hailing services even more positively. With the growing number of smart cities and usage of connectivity, the industry in the future is anticipated to become a major contributor to the mainframe public transportation infrastructure in several countries."
The report segments the E-hailing market by vehicle type (Passenger Car, Bikes, Other), by distance type (Short Distance, Long Distance, Outstation) by payment type (Cash/ Mobile Wallet, In-App) by region and for 15 leading countries.
Find data and information on this market in our new Automotive report E-hailing Market Outlook Report 2019-2029: Forecasts by Vehicle Type (Passenger Car, Bikes, Other), by Distance Type (Short Distance, Long Distance, Outstation), by Payment Type (Cash/Mobile Wallet, In-App), by Region, Country and Profiling of Leading Mobility Service Providers (MSP) & Transportation Network Companies (TNC) Developing On-Demand Shared Mobility-as-a-Service (MaaS) Technologies.
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