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Ride-hailing and Taxi Market Size, Share & Trends Analysis Report by Type (Ride-hailing, Taxi), by Distribution Channel, by Region, and Segment Forecasts, 2022-2028

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    Report

  • 78 Pages
  • May 2022
  • Region: Global
  • Grand View Research
  • ID: 5648063
The global ride-hailing and taxi market size is estimated to reach USD 432.16 billion by 2028 and is expected to expand at a CAGR of 11.7% from 2022 to 2028. The growth of the ride market is significantly driven by the expansion of the key players in the new geographies and increasing consumer ridership owing to convenience and comfort. Consumers' inclination to avoid the large overhead cost of car ownership and its maintenance, coupled with the increasing traffic congestion and lack of parking spaces fuels the global market growth.

The rural population is noticeably migrating to the urban areas and metro cities for various reasons leading to a dense population. Furthermore, emerging ride-hailing apps and taxi-booking apps are driving the global market, coupled with the increasing internet service penetration and increasing affordability of smartphones.

The COVID-19 outbreak significantly declined global ridership of ride-hailing and taxis due to the lockdown and restrictions imposed by the governments. As a school, colleges, and the majority of the office workers shifted to online mode and work-from-home, consumers stayed home and were reluctant to go out, which affected the ride-hailing and taxi ridership, declining the global market revenue. Also, consumer preference shifted towards private cars and 2-wheeler options, negatively impacting the market growth in the immediate term. However, over the long term, the market is likely to witness steady growth and recover during the forecast period.

In the global market, the ride-hailing segment by type is anticipated to witness robust growth. The segment is projected to register a CAGR of 17% from 2022 to 2028. Expansion of the ride-hailing companies in the Asia Pacific, Central and South America, and Africa, considering the market potential, is likely to drive the ride-hailing segment growth. For instance, Ola Cabs launched in the Australian city, Sunshine Coast in August 2019, and plans further expansion in Australia and New Zealand. Other factors that are rising the popularity of this mode of transport include the digital payment option, comfort, door-to-door service, and the ability to choose driver/rider. Increasing smartphone use and internet penetration also facilitate the growth of the segment.

Offline segment of the distribution channel dominated the market share in the global market. Offline channel dominated with 58.7% market revenue share in 2021 in the market. The widespread availability and long-standing market presence of the offline channel as compared to the online channel, in the global market, are attributable to the higher share. Furthermore, numerous market players in the global market offer offline services compared with the other channels and are credited for the higher market revenue share.

The Asia Pacific dominated the market with a significant revenue share in 2021. In the global market, Asia Pacific held over 55% market share based on revenue in 2021. This is substantially attributed to the huge population, reaching 60% of the global share, according to The United Nations Population Fund. Half of the population lives in the urban areas and has accessibility to the ride-hailing and taxi-hailing platforms. Local key players’ expansions and increased consumer demand also significantly contributed to the high market share foothold.

Ride-hailing And Taxi Market Report Highlights

  • Central and South America is anticipated to witness a significant growth rate, ranking 2nd with a CAGR of 11.6% during the forecast period. Economic growth, increasing urbanization, increasing consumer demand, and increasing overhead cost of car ownership and maintenance costs of cars are fueling the market growth in the region
  • Taxi segment by type accounted for over 75% of market revenue share in 2021. Segment dominance in the global market is attributable to the factors such as the long-standing presence of the type, the strong presence of key players offering the taxi services, and the widespread availability
  • The online segment of the distribution channel is estimated to witness a CAGR of 13.1% during the forecast period. Increasing preference for online transactions from the young generation, the emergence of online platforms, and ease of operation are credited for the segmental growth


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Frequently Asked Questions about the Global Ride-hailing and Taxi Market

What is the estimated value of the Global Ride-hailing and Taxi Market?

The Global Ride-hailing and Taxi Market was estimated to be valued at $219.68 Billion in 2022.

What is the growth rate of the Global Ride-hailing and Taxi Market?

The growth rate of the Global Ride-hailing and Taxi Market is 11.7%, with an estimated value of $432.16 Billion by 2028.

What is the forecasted size of the Global Ride-hailing and Taxi Market?

The Global Ride-hailing and Taxi Market is estimated to be worth $432.16 Billion by 2028.

Who are the key companies in the Global Ride-hailing and Taxi Market?

Key companies in the Global Ride-hailing and Taxi Market include Uber Technologies Inc., Lyft Inc., Didi Chuxing Technology Co., Ola Cabs., Bolt Technology OÜ, Grab Holdings Inc., Gett, Yandex N.V. and Meituan Inc..

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Type Outlook
2.3. Distribution Channel Outlook
2.4. Regional Outlook
Chapter 3. Ride-hailing & Taxi Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Ride-hailing & Taxi Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Type Adoption
4.4. Observations & Recommendations
Chapter 5. Ride-hailing & Taxi Market: Type Estimates & Trend Analysis
5.1. Type Movement Analysis & Market Share, 2021 & 2028
5.2. Ride-hailing
5.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
5.3. Taxi
5.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
Chapter 6. Ride-hailing & Taxi Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2028
6.2. Online
6.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
6.3. Offline
6.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
Chapter 7. Ride-hailing & Taxi Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2021 & 2028
7.2. North America
7.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.2.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.2.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.2.4. U.S.
7.2.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.2.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.2.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.2.5. Canada
7.2.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.2.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.2.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.3. Europe
7.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.3.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.3.4. U.K.
7.3.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.3.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.3.5. Germany
7.3.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.3.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.3.6. France
7.3.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.3.6.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.3.6.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.4. Asia Pacific
7.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.4.4. China
7.4.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.4.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.4.5. India
7.4.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.4.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.4.6. Japan
7.4.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.4.6.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.4.6.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.5. Central & South America
7.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.5.4. Brazil
7.5.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.5.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.5.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.5.5. Argentina
7.5.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.5.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.5.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.6. Middle East & Africa
7.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.6.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.6.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.6.4. Saudi Arabia
7.6.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.6.4.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.6.4.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
7.6.5. South Africa
7.6.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million)
7.6.5.2. Market Estimates and Forecast, by Type, 2017 - 2028 (USD Million)
7.6.5.3. Market Estimates and Forecast, by Distribution Channel, 2017 - 2028 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key Global Players, Recent Developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3. Vendor Landscape
8.3.1. Key Company Market Share Analysis, 2021
Chapter 9. Company Profiles
9.1. Uber Technologies Inc.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Lyft Inc.
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Didi Chuxing Technology Co.
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Ola Cabs.
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Bolt Technology OÜ
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Grab Holdings Inc.
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Gett
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. Yandex N.V.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Cabify España S.L.U.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Meituan Inc.
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
List of Tables
1. Ride-Hailing & Taxi Market - Key Market Driver Analysis
2. Ride-Hailing & Taxi Market - Key Market Restraint Analysis
3. Global Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
4. Global Taxi Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
5. Global Online Agency Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
6. Global Offline Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
7. Global Ride-Hailing & Taxi Market Estimates and Forecast, by Region 2017 - 2028 (USD Million)
8. Global Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
9. Global Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
10. North America Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
11. North America Ride-Hailing & Taxi Market Revenue Estimates and Forecast, By Type, 2017 - 2028 (USD Million)
12. North America Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
13. U.S. Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
14. U.S. Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
15. U.S. Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
16. Canada Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
17. Canada Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
18. Canada Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
19. Europe Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
20. Europe Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
21. Europe Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
22. U.K. Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
23. U.K. Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
24. U.K. Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
25. Germany Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
26. Germany Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
27. Germany Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
28. France Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
29. France Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
30. France Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
31. Asia Pacific Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
32. Asia Pacific Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
33. Asia Pacific Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
34. China Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
35. China Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
36. China Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
37. India Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
38. India Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
39. India Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
40. Japan Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
41. Japan Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
42. Japan Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
43. Central & South America Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
44. Central & South America Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
45. Central & South America Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
46. Brazil Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
47. Brazil Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
48. Brazil Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
49. Argentina Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
50. Argentina Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
51. Argentina Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
52. Middle East & Africa Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
53. Middle East & Africa Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
54. Middle East & Africa Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
55. Saudi Arabia Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
56. Saudi Arabia Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
57. Saudi Arabia Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
58. South Africa Ride-Hailing & Taxi Market Estimates and Forecast, 2017 - 2028 (USD Million)
59. South Africa Ride-Hailing & Taxi Market Estimates and Forecast by Type, 2017 - 2028 (USD Million)
60. South Africa Ride-Hailing & Taxi Market Estimates and Forecast by Distribution Channel, 2017 - 2028 (USD Million)
61. Vendor Landscape
List of Figures
1. Ride-Hailing & Taxi Market Snapshot
2. Ride-Hailing & Taxi Market Segmentation & Scope
3. Ride-Hailing & Taxi Market Penetration & Growth Prospect Mapping
4. Ride-Hailing & Taxi Market Value Chain Analysis
5. Ride-Hailing & Taxi Market Dynamics
6. Ride-Hailing & Taxi Market Porter's Analysis
7. Ride-Hailing & Taxi Market: Type Movement Analysis
8. Ride-Hailing & Taxi Market: Distribution Channel Analysis
9. Ride-Hailing & Taxi Market: Regional Movement Analysis

Companies Mentioned

  • Uber Technologies Inc.
  • Lyft Inc.
  • Didi Chuxing Technology Co.
  • Ola Cabs.
  • Bolt Technology OÜ
  • Grab Holdings Inc.
  • Gett
  • Yandex N.V.
  • Cabify España S.L.U.
  • Meituan Inc.

Methodology

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