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The global ride-hailing market is estimated to reach $120.2 billion by 2024, witnessing a CAGR of 13.0% during 2019u20132024.
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Ride-Hailing Market Growth, Size & Future Scope – Research Report In 2018, the global ride-hailing market reached a value of $50.4 billion and is predicted to generate $120.2 billion in 2024, advancing at a 13.0% CAGR during the forecast period (2019–2024). The market is witnessing growth due to the rising concerns toward environmental degradation, government initiatives, convenient and economically efficient mobility option, and road congestion in urban areas. Ride-hailing services are offered by transportation network companies that utilize online mobile applications for matching commuters’ transport needs of reaching specific destination from specific origin.
Among all the regions, namely Asia-Pacific (APAC), North America, Europe, and Rest of the World, the APAC region dominated the ride-hailing market during the historical period and is further expected to account for the largest share of the ride-hailing services market during the forecast period. Request to Get the Sample Report@ https://www.psmarketresearch.com/market- analysis/ride-hailing-market/report-sample This is because of the rising requirement for ride-hailing services in the region and increasing concern regarding surging pollution. In addition to this, the need for alternative mobility options for dealing with road congestion during peak hours and growing internet penetration are also contributing to the rising demand for these services APAC. The introduction of robo taxis is a key trend that is being observed in the ride-hailing market. Autonomous taxis will offer ride-hailing services at much lower cost because of their higher utilization rate as compared to mobility services that are currently present. Make Enquiry for the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry- url=ride-hailing-market This can further result in the shift in preference of customers from buying personal vehicles to availing ride-hailing services. Attributing to these factors, different vehicle manufacturers and technology companies are increasingly focusing on the development of autonomous taxis. Thus, the market is growing due to the surging concern regarding environmental degradation and convenience and economic viability of ride-hailing services.
