Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "Global Ride Hailing Service Market Outlook 2028: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global ride hailing service market is anticipated to rise at a value CAGR of 16.6% over 2019-2028. According to a study published by Insure Insights on the Global Ride Hailing Service Market, theRide Hailing Service is also known as a transportation network company, app-taxi, e-taxi, or a mobility service provider, it is a company that through websites and mobile apps, matches passengers with drivers of vehicles for hire that, is not like taxicabs. The advances in navigation & GPS technologies and increase disposable income among the public have driven the market.
Top Driver: The surge in the preference for carpool and bike pool around the globe. Have driven the market.
Rising preference for carpool and bike pool and growing urban population in developing economies are the primary factors driving the market. The reduced interest rates by banks and lender for owning cars have positively impacted the market. The technological advances and app development have improved the passenger safety and comfort thus have further boosted the market.
E-hailing has made the highest segmental growth in the Global Ride Hailing Service Market
Based on the Offering the market is segmented into E-hailing, Car Sharing and Rental. The E-hailing segment, have dominated the segmental growth. The high growth is attributed to the user-friendliness and convenience of these services. TheE-hailinghave made travelling in new cities relatively easier as they offer trained drivers by using reliable maps for navigation. The app related algorithms makes estimation of price for making the ride easier, as it decreases the probabilities of being cheated by a driver. The technological advances of hiring a cab by application on mobile phones will further boost the market
However, the Rental segment is expected to grow at a faster rate in the forecast period, owing to the increase in the awareness regarding self-driving rental services in developing economies like China and India as it provides more comfort,
North America has dominated the growth of the regional market with presence of most companies in the region
Based on region the market is segmented into North America, Europe, Asia Pacific and SAMEA. North America have held the highest regional growth owing to the presence of most companies in the region. The increase preference for public transportation in cities like New York, Chicago, San Francisco, etc. and rise in the population along with the demand for accessible modes of transport have further promoted the regional growth. The Asia Pacific region is anticipated to grow with a fastest growth owing to the increase in the Ride Hailing Service in cities like Beijing, Shanghai, and Tokyo, Delhi, Mumbai etc. The economic growth, and rising need for job opportunities, have further promoted the regional market growth.
Strategic Collaborations, Mergers, and Acquisition are the major strategies of the competitors
The Players of the Global Ride Hailing Service Market is fragmented. Product launches, Collaborations, Mergers, and Acquisition, are strategies used by the competitors The key competitors of the Global Ride Hailing Service Market are Uber, Lyft Inc., Via, Juno, Xoox, Wheely, ViaVan, My Taxi, Gett, and Yandex.taxi
Uber: Uber is one of the major competitors of the Global Ride Hailing Service Market; In June 2020,Uber, had announced the acquisition of Postmates for USD 2.65 billion. The acquisition was made strengthen Ubers business in meal delivery service.
Lyft, Inc.: Lyft, Inc. is a popular competitor in the Global Ride Hailing Service Market. In October 2018,Lyft, Inc. had announced the acquisition of Blue Vision Labs. The acquisition was made by Lyft, Inc. to strengthen its business in Self-Driving.
Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.
Key Topics Covered:
Chapter 1 Overview And Scope
Chapter 2 Our Research Practice
Chapter 3 Executive Summary
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
Chapter 4 Covid-19 Impact Analysis
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Ride Hailing Service Market Forces
5.1 What's Driving the Market
5.2 Porter's Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition
Chapter 6 Global Ride Hailing Service Market -Industry Snapshots
6.1 Overview
6.1.1 Global Ride Hailing Service Market Value, 2019 - 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis
Chapter 7 Global Ride Hailing Service Market Analysis, by Type
7.1 Overview
7.2 Key Findings for Ride Hailing Service Market- By Offering
7.2.1 Ride Hailing Service Market- E-hailing
7.2.2 Ride Hailing Service Market- Car Sharing
7.2.3 Ride Hailing Service Market- Rental
Chapter 8 Ride Hailing Service Market Analysis by Region
8.1 Key Findings for Ride Hailing Service Market- By region
8.2 Overview
8.2.1 Global Ride Hailing Service Market Analysis, By Offering, 2019 - 2028
8.3 Ride Hailing Service Market - North America
8.3.1 Overview
8.3.2 U.S.
8.3.3 Canada
8.3.4 Mexico
8.3.5 North America Market, By Offering
8.4 Ride Hailing Service Market - Europe
8.4.1 Overview
8.4.2 Germany
8.4.3 United Kingdom
8.4.4 France
8.4.5 Italy
8.4.6 Rest Of Europe
8.4.7 Europe Market, By Offering
8.5 Ride Hailing Service Market - Asia Pacific
8.5.1 Overview
8.5.2 China
8.5.3 Japan
8.5.4 India
8.5.5 Rest of APAC
8.5.6 Asia Pacific Market, By Offering
8.6 Ride Hailing Service Market - SAMEA
8.6.1 Overview
8.6.2 Middle East & Africa (MEA)
8.6.3 South America
8.6.4 Rest Of World
8.6.5 South America, Middle East and Africa Market, By Offering
Chapter 9 Market Competition Analysis
9.1 Market Share/Positioning Analysis
9.1.1 Market Positioning of Key Vendors, 2019
9.1.2 Key Strategies Adopted by the Leading Players
9.1.3 Recent Developments
Chapter 10 Company Profiles- Snapshot
10.1 Uber
10.1.1 Business Fundamentals
10.1.2 Financial Snapshots
10.1.3 Product Portfolio
10.1.4 Recent Developments
10.2 Lyft Inc.
10.3 Via
10.4 Juno
10.5 Xoox
10.6 Wheely
10.7 ViaVan
10.8 My Taxi
10.9 Gett
10.10 Yandex.taxi
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