The Business Research Company’s report on the E-Hailing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the e-hailing market in recent years?
The growing traffic congestion is expected to propel the growth of the e-hailing market going forward. Traffic congestion refers to the overcrowding of roads due to excessive vehicle demand, leading to slower speeds, delays, and longer travel times. The rise in traffic congestion is due to urbanization, rising vehicle numbers, and inadequate infrastructure. E-hailing helps reduce growing traffic congestion by promoting ride-sharing, optimizing routes, and decreasing the need for private car ownership. For instance, in January 2023, according to INRIX, Inc., a US-based provider of real-time traffic information and connected driving services, in 2022, drivers in major U.S. urban centers, half of which housed the world’s top 10 most congested cities, experienced an average of 51 hours stuck in traffic, marking an increase of 15 hours compared to the previous year. Therefore, the growing traffic congestion is driving the growth of the e-hailing market.
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What is the projected market size of the e-hailing industry, and how is it expected to grow?
The e-hailing market size has grown exponentially in recent years. It will grow from $67.65 billion in 2024 to $81.49 billion in 2025 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to rising smartphone penetration, increasing urbanization, rise in internet connectivity, growing need for convenient transport, and expanding digital payment adoption.
The e-hailing market size is expected to see exponential growth in the next few years. It will grow to $170.11 billion in 2029 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to rising demand for sustainable mobility, increasing integration of AI and automation, a rise in shared mobility adoption, growing smart city initiatives, and expanding 5G connectivity. Major trends in the forecast period include strategic partnerships, riding platforms, smart technology, integration of artificial intelligence, and technological advancement.
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Who are the key players driving competition in the e-hailing market?
Major companies operating in the e-hailing market are Uber Technologies Inc., DiDi Global Inc., AirAsia Superapp Sdn Bhd, Grab Holdings Limited, inDrive, Bolt Technology OÜ, LALAMOVE LLC, Marti Technologies, Lularides Limited, PT GoTo Gojek Tokopedia Tbk, Movex Innovation Limited, EzCab Sdn Bhd, ATOM Mobility SIA, MyCar Sdn Bhd, Yelowsoft Pvt Ltd, Hala Ride, SpotnRides, M-TRIBES GmbH, Kumpool Sdn Bhd, BozaRide Technologies Limited.
What key trends are expected to drive the education technology (edtech) market during the forecast period?
Major companies operating in the e-hailing market are focusing on technological advancements, such as e-hailing platforms, to enhance user experience, safety, and efficiency. E-hailing platform refers to a digital service that connects passengers with drivers for on-demand transportation via a mobile app. For instance, in March 2023, BozaRide, a South Africa-based e-hailing platform, launched in Sandton, Johannesburg, aiming to challenge market leaders Uber and Bolt. The company plans to expand across the country, emphasizing safety features and a pricing model designed to ensure fair driver compensation. BozaRide positions itself as a locally developed platform tailored to the specific needs of South African users.
Which key geographies are driving the growth of the e-hailing market?
North America was the largest region in the e-hailing market in 2024. The regions covered in the e-hailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the e-hailing market?
The e-hailing market covered in this report is segmented –
1) By Service Type: Ride-Hailing, Taxi-Hailing, Carpooling, Peer-To-Peer (P2P) Services
2) By Vehicle Type: Cars, Three Wheelers, Two Wheelers
3) By End-Users: Personal Use, Business
Subsegments:
1) By Ride-Hailing: App-Based Ride-Hailing, Corporate Ride-Hailing, Luxury Ride-Hailing, Electric Vehicle (EV) Ride-Hailing
2) By Taxi-Hailing: Traditional Taxi-Hailing, Digital Taxi Booking, Shared Taxi Services, Subscription-Based Taxi Services
3) By Carpooling: Fixed-Route Carpooling, Dynamic Carpooling, Long-Distance Carpooling, Corporate Carpooling
4) By Peer-To-Peer (P2P) Services: Private Car Rentals, Community-Based Ride-Sharing, On-Demand P2P Rides, Subscription-Based P2P Mobility
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How is the e-hailing market defined, and what are its core characteristics?
E-hailing refers to the process of booking rides through digital platforms or mobile applications, connecting passengers with drivers for on-demand transportation. It enables users to request, track, and pay for rides seamlessly using smartphones, ensuring convenience and efficiency. This service is widely used for personal and business travel, offering various vehicles.
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