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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Table of Contents
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:
- A healthy and reliable community
- High costs of transportation by personal vehicle
- Low-quality public transportation
- 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
