Ride-sharing app Statistics and growth projections.
The growth of ridesharing apps has been nothing short of impressive. According to Statista, the global ridesharing market is projected to grow at a CAGR of 22.3% from 2020 to 2027. The market is expected to reach $218.0 billion by 2025, up from $36.4 billion in 2017.
In Nigeria today, most metropolitan cities like Lagos, FCT, Benin, and Port Harcourt, have a high demand for rideshare services and the rise of many more rideshare companies is a testament to the growing market. More than 65% of the young adult population of Nigeria (about 90 million) would prefer a rideshare alternative to the buzzing traditional communal system.? These statistics demonstrate the growing popularity of ridesharing apps and their potential for continued growth in the future.
Advantages of Using Ridesharing Apps
Ridesharing apps offer several advantages over traditional transportation options.
One of the main advantages is convenience: With ridesharing apps, users can request a ride with just a few taps on their smartphone. This eliminates the need to hail a taxi or wait for public transportation.
Another advantage of ridesharing apps is cost-effectiveness: Ridesharing apps are often cheaper than traditional taxi services, and they offer a level of transparency regarding pricing. Users can see their ride's cost upfront, eliminating the need for haggling or negotiating with drivers.
Ridesharing apps also offer a level of safety and security that traditional taxi services may not provide: With ridesharing apps, users can track their rides in real time and share their ride status with friends and family. This provides an added layer of security for users, especially when traveling alone.
What Farerun is offering to improve rideshare usage in Nigeria.?
Sign-Up Bonus: To kick start their journey on our e-hailing platform, new drivers are welcomed with a sign-up bonus, igniting their enthusiasm to embrace cash trips once they've successfully registered.
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Low Commission: At Farerun, we offer remarkably low commissions to drivers, fostering consistency in their income and nurturing their growth within the ride-sharing service. Register as a driver
Referral Bonus: Our referral commission is yet another way we motivate and uplift drivers, encouraging them to maintain a consistent work ethic.
Long-Trips Bonus: We appreciate drivers who are willing to take on long-distance trips, starting at 3 kilometers and beyond. This initiative aims to empower Nigerian drivers with fairness and respect.
Pioneer Driver: Becoming a Farerun pioneer driver not only enhances your earning potential but also grants you access to cutting-edge app features, allowing you to gain invaluable experience in the ride-sharing service.
Free Rides for New Users: For every new user who registers on our platform, Farerun provides three complimentary rides, each valued at up to 1200N. It's our way of ensuring a smooth and convenient introduction to our service.
Existing User Discounts: We're committed to making your journey as affordable as possible. Existing users can now enjoy up to a 50% discount on our app, guaranteeing you a quick and hassle-free mode of transportation.