Ride Hailing Market Report 2025

The ride hailing market size has grown rapidly in recent years. It will grow from $79.13 billion in 2024 to $90.5 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to urbanization and population density, changing consumer behavior, traffic congestion and parking challenges, first and last-mile connectivity, economic considerations.

The ride hailing market size is expected to see rapid growth in the next few years. It will grow to $164.14 billion in 2029 at a compound annual growth rate (CAGR) of 16%. The growth in the forecast period can be attributed to integration with multimodal transportation, environmental sustainability, regulatory frameworks and compliance, enhanced safety measures, rural and suburban expansion. Major trends in the forecast period include corporate partnerships for employee transportation, dynamic pricing optimization, regulatory compliance and advocacy, inclusive accessibility features, virtual queues and pre-booking options.

The growth of the ride-hailing market is being driven by on-demand transportation services and a decreasing rate of car ownership among millennials. On-demand transportation services are characterized by flexible routing and ad-hoc scheduling of private vehicles, providing a personal transport experience for the public by allowing passengers to choose their pick-up and drop-off locations. These ride-hailing services enable customers to accurately locate vehicles, track their journeys, and ensure safety for occupants, which is expected to significantly boost market growth. Additionally, millennials are experiencing a lower rate of car ownership due to the high maintenance costs associated with personal vehicles, leading to increased demand for ride-hailing services. They prefer practical, smartphone-accessible transport options that are straightforward, flexible, and cost-effective rather than owning a car. Furthermore, purchasing and maintaining a new car tends to be more expensive than renting a vehicle annually. For example, in February 2024, the Bureau of Transportation Statistics, part of the US Department of Transportation (DOT), reported that for-hire freight shipments increased by 1.8% in December 2023 compared to December 2022, while the Freight Transportation Services Index rose from 136.6 in December 2022 to 139.1 in December 2023. Therefore, the growth of on-demand transportation services and a lower rate of car ownership among millennials are driving the expansion of the ride-hailing market.

Major companies operating in the ride hailing market include Uber Technologies Inc., Lyft Inc., DiDi Chuxing Technology Co., Grab Holdings Inc., Ola Cabs, Bolt Technology Oü, BlaBlaCar, Gett Inc., Curb Mobility, Gojek, Via Transportation Inc., Cabify, Wingz Inc., Addison Lee Ltd., , Easy Taxi, LeCab, Zūm Services Inc., T3 Mobility, Heetch, Beat, Meru Cabs, Ryde Technologies, FastGo, GoCatch, Liftango, Blacklane GmbH, Shohoz.

The ride hailing market research report is one of a series of new reports that provides ride hailing market statistics, including ride hailing industry global market size, regional shares, competitors with a ride hailing market share, detailed ride hailing market segments, market trends and opportunities, and any further data you may need to thrive in the ride hailing industry. This ride hailing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Ride Hailing Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on ride hailing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Description

Where is the largest and fastest growing market for ride hailing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ride hailing market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:
• Market segmentations break down the market into sub markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Vehicle Type: Two Wheeler; Three Wheeler; Four Wheeler; Other Vehicle Types3) By Service Type: E-Hailing; Car Sharing; Station based Mobility; Car Rental2) By End-user: Commercial; Personal