E-Hailing Market is Estimated to grow at a CAGR of 32.08% to reach a value of US$280.244 billion by 2025
Knowledge Sourcing Intelligence announces the publication of a new report on “E-Hailing Market – Forecasts from 2020 to 2025" to their offering.
E-hailing or ride-hailing is an ICT enabled service whereby a vehicle can be requested either over a desktop and/or over handheld communication devices like mobile phones, tablets, and the likes. According to the report, the E-Hailing Market is projected to grow at a CAGR of 32.08% over the forecast period 2019-2025. There are quite a few factors that are poised to drive e-hailing market growth at an exponential rate during the forecast period. The first and foremost is the conveniences whereby consumers can avail rides just through the means of a mobile application and /or phone call. This nullifies the need for owning a car and bear all the associated expenses. The other reason that is subsequent to the aforesaid is the adoption of the aforesaid nullifies the need for owning a car that in turn aid s in the gradual reduction in ambient air pollution and becomes a partial contributor to a host of factors that can decelerate global warming. Moreover, with the rapid pace of infrastructure development undertaken by various governments’ around the world the availability of a comfortable ride experience at one’s fingertips sans the hassles like parking troubles is the sum of all the aforesaid factors. The other aspect that has turned out to be successful to woo in the traditional cab hailers is the attractive offers that various e-hailing service providers offer.
For example, OLA and Uber, two globally renowned companies, provide monthly pass facilities to users, where consumers can use ride pooling at lower rates than paying for their rides every day. This aspect also acts as an initiator for those who are in their early adolescence and inadvertently dissuades them from adhering to the propensity of owning a personal vehicle. The other offerings are the inclusion of services like food delivery and e-wallets for making payments for example to pay utility bills are also poised to drive the e-hailing market to an unprecedented echelon during the forecast period. There have been a few launches as well wherein the government has been a major stakeholder. For example, The Dubai Roads and Transport Authority (RTA) and transportation network company Careem officially launched Hala, an e-hailing service in August 2019 the Careem app will enable a good number portion of the taxi fleet to provide services to the consumers and satiate the increasing demand for ride-hailing services.
Some of the major players covered as part of the report are Uber, Lyft, DiDi Chuxing, OLA, MyCar, Grab, Go-Jek, and Bolt, among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/e-hailing-market
In this report the E-hailing market has been segmented based on the following:
By Vehicle Type
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Africa
- North America
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