A glance at the market of ride-hailing (2020-2025)

ride-hailing
Market Research
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Ride-Hailing refers to transportation services that are not followed by other passengers during the trip and consecutive stops, but the driver is available to the passenger along the entire route. For example, Internet taxis are one of the types of Ride-Hailing services that are constantly upgrading their systems with the Internet penetration and increasing number of smartphones. The possibility of comparing commuting costs, discounts, and calculating the arrival and departure times of passengers are among these items.

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Market / Industry segment of ride-hailing

Base Year Market size(B$) Duration(YEAR) CAGR(%)Source Name
2020 52.7 3 17.97%PR news wire
2018 50.4 6 13.00%PS market research
2017 36.45 8 16.50%Allied market research
2018 50.2 6 13.00%Medium

Influencing factors that changes market size of ride-hailing

The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of ride-hailing

Direct drivers:

  1. A healthy and reliable community
  2. High costs of transportation by personal vehicle
  3. Low-quality public transportation
  4. Economic situation

Reverse drivers:

  • Economic crisis
  • High-quality public transport

This market may also be threatened by following risks:

Lack of infrastructure In all different markets and industries, the risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment identifying risks in the market to perform risk management. The market of ride-hailing may also be threatened by the following risks:

  • Technology risk
  • Litigation risk
  • Stage of business
  • Legislation risk
  • Competition risk

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