Ride Hailing Service Market - Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027

According to the latest report by GMI Research, Ride Hailing Service Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The global ride hailing service market examines the impact of the COVID-19 pandemic on the market and demonstrates that the market experiences a sharp fall in 2020 and then bounces back in 2021 while growing at a significant rate from 2022 onwards. Ride Hailing Services refers to the applications which help in connecting the passengers to the local drivers who are using their personal vehicles. This service is considered a comfortable traveling option without the need to change different modes of transportation to reach the final destination.

Competitive Landscape: The global ride hailing service market report also scans the competitive landscape and profiles the major players operating in the market, including Uber Technologies Inc., Lyft, Inc., Gett, Denso Corporation, Didi Chuxing Technology Co. Ltd., TomTom International BV, Aptiv, Daimler AG, ANI Technologies (OLA), and Grab.


The drastic rise in the preference for carpool and bike pool services, especially among the regular office commuters, is a significant factor boosting the growth of the global ride hailing services market. With the increasing hectic lifestyle, the consumers are proactively looking for easy and convenient daily traveling options to save their money and time. Simultaneously, the rapid rise in the services offered by the leading players, including Uber and Lyft, and the several options for choose convenient pick-up and drop locations is prompting the consumers to go for these services. Furthermore, the growing number of multiple service providers, such as bike rides and sharing auto rides, is creating innumerable growth opportunities in the market over the coming years.

The significant shift in the people’s preference from driving a car to being driven, especially among the millennials, is further energizing the demand of the market. Moreover, the increasing environmental concern around the world, followed by the growing emphasis of governments to encourage the usage of public transport for daily traveling rather than personal vehicles, is also surging the demand for ride hailing service industry.

The emergence of the COVID-19 is likely to have an adverse impact on the global ride hailing services market. The shared mobility services such as cabs have experienced a sharp fall in the demand as consumers are hesitant to book rides and share it with other unknown persons. However, this decline in the demand is likely to happen in 2020, and the market is anticipated to surge from 2021.

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Market Segments:


Breakup by Service Type:
  • E-hailing
  • Car Rental
  • Car Sharing
  • Station-based Mobility

Breakup by Vehicle Type:
  • Two-wheeler
  • Three-wheeler
  • Four-wheeler
  • Others

Breakup by Location Type:
  • Urban
  • Rural

Breakup by End user:
  • Institutional
  • Personal

Breakup by Region:
  • North America
o    United States of America
o    Canada

  • Asia Pacific
o    China
o    Japan
o    India
o    Rest of APAC

  • Europe
o    United Kingdom
o    Germany
o    France
o    Spain
o    Rest of Europe

  • RoW
o    Brazil
o    South Africa
o    Saudi Arabia
o    UAE
o    Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve.

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