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Ride Hailing Services Market to grow by USD 58.23 billion from 2022 to 2027 | Rising use of online ride-hailing services to drive the growth - TechnavioNEW YORK, Sept. 14, 2023 /PRNewswire/ -- The ride hailing services market is expected to grow by USD 58.23 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 12.86% during the forecast period. The market is segmented by Application (Car sharing and E-hailing), mode of booking (online and offline), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The rising use of online ride hailing services is the key factor driving the market growth. The growing use of online ride-hailing services is driven by innovative new mobile applications that consumers are using to book rides. Uber in the US, Beijing Xiaoju Technology in China, and Grab Holdings in Singapore are the market leaders in their respective countries. In addition, growing investments from venture capitalists provide major market players with leverage to enter emerging and developing markets, thereby providing players with many opportunities to grow and increase their total revenue. Furthermore, increasing in-demand taxi bookings for daily travel by consumers from various developing countries has played a key role in determining the growth of the market. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Key Highlights:
Market Dynamics: Major Trend
Significant Challenge
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report Keg Segments: The car sharing segment will contribute a major share of the market during the forecast period. This model is becoming increasingly popular in the global automotive services market, and several global companies have adopted it to better serve their customers. Furthermore, companies have begun offering carpooling options to passengers. For example, Uber launched the Uber Pool feature that allows multiple passengers to travel together in the same vehicle, thereby reducing costs and environmental impact. The concept of car sharing has become important in reducing CO2 emissions and decongesting city streets. Hence, these factors are expected to drive segment growth during the forecast period. Get a glance at the market contribution of the segments, Request a Free Sample Related Reports: The road logistics market size is estimated to grow by USD 782.97 billion between 2022 and 2027 exhibiting a CAGR of 3.59%. This report extensively covers market segmentation by Application (domestic and international), Type (truckload, less than truckload, parcel, and same day), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The market growth is being driven by the growing trend of outsourcing logistics services. The Car-as-a-Service (CaaS) Market size is estimated to grow by USD 306.31 billion between 2022 and 2027 accelerating at a CAGR of 18.09%. This Car-as-a-Service (CaaS) Market report extensively covers market segmentation by end-user (corporate and private), type (ride-hailing, car rental, car sharing, and car subscription), and geography (APAC, North America, Europe, South America, and Middle East and Africa). A wide range of vehicles with single subscription packages is the key factor driving the Car-as-a-Service Market growth.
ToC: Executive Summary Market Landscape Market Sizing Historic Market Sizes Five Forces Analysis Market Segmentation by Application Market Segmentation by Mode of Booking Market Segmentation by Geography Customer Landscape Geographic Landscape Drivers, Challenges, & Trends Company Landscape Company Analysis Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research
SOURCE Technavio 
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