Ride Hailing Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2017 To 2025
Ride hailing market will grow at a CAGR of 19.81% during the forecast period, to reach $276.00 billion by 2025 while Station based mobility is the fastest growing segment and Navigation Service constitutes the largest data service while Asia-Pacific: Largest market for Ride hailing market
Pune, India – July 27, 2017 /MarketersMedia/ —
“Growing need for personal mobility in wake of rising urbanization and fall in car ownership are expected to fuel the demand for Ride Hailing”
The Ride hailing market is projected to grow at a CAGR of 19.81% during the forecast period, to reach USD 276.00 billion by 2025. The Ride hailing market is driven by factors such as growing need for personal mobility in wake of rising urbanization and fall in car ownership. The factors which restrain the markets are low internet penetration in developing region and complex regulatory policies.
The report provides detailed profiles of the following companies:
1. Delphi automotive plc
2. Denso corporation
3. Uber Technologies, Inc.
4. Intel Corporation
5. TomTom NV
6. Robert Bosch GmbH
7. International Business Machines Corp. (IBM)
8. Didi Chuxing
9. Gett, Inc.
10. Lyft, Inc.
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“Station based mobility is the fastest growing segment in the global Ride Hailing market”
Station based mobility market is expected to grow at the fastest CAGR. Station based mobility is incentivized by governments across the world and dedicated tracks are laid in various countries for station to station mobility. Car sharing is the second fastest growing segment. Growth of car sharing is attributed to its benefits such as getting benefits of a private vehicle without the costs and responsibilities of car ownership.
“Navigation Service constitutes the largest data service for Ride Hailing market globally”
Navigation service has the largest market size in data service for Ride hailing market globally. Navigation guides driver and passenger regarding location and route. Also mapping and traffic data helps better user experience. Use of navigation service is imperative for Ride hailing service. Thus the increasing number of Ride hailing service users influences the demand for Ride hailing services.
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“Asia-Pacific: Largest market for Ride Hailing”
The Asia-Pacific region leads the Ride hailing market in terms of market size. High population and increasing urbanization are driving the factor for Ride hailing market. Increasing urbanization leads to traffic congestion and increasing population will also increase the demand for different mobility options in urban areas. Ride hailing services like app-based taxi services, car sharing services, and station based mobility in Asia-Pacific region flourish on the grounds of increasing population of urban areas.
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Breakdown of Primaries: The study contains insights provided by various industry experts, ranging from mobility service providers to automotive OEMs. The break-up of the primaries is as follows: By Company Type – Hardware and software technology providers – 50%, App/web based Ride hailing service providers – 40%, OEMs – 10%, By Designation – D level – 65%, C level – 30%, Others – 5%, By Region – North America – 70%, Europe – 19%, Asia-Pacific – 10%, Rest of the World – 1%
Research Coverage: The report provides a picture on Ride hailing market across different verticals and regions. It aims at estimating the market size and future growth potential of the Ride hailing market across different segments such as service type, vehicle type, data service, internet connectivity, vehicle connectivity, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
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