ride sharing industry statistics
North America Ride Sharing Market Size, 2020 (USD billion), To get more information on the regional analysis of this market, Request a Free sample. This is an enormous figure considering the industry barely existed a decade ago. is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program The number of drivers working for Lyft has gradually increased over the years and the company now employs about 1.4 million drivers globally. According to the Bangladesh Bureau of Statistics, in the past two decades, the urban population of the country grew from 28.61 million to nearly 42 million. All these facts point towards a bright future ahead for this industry which is why we decided take a closer look into some key Ride Sharing Industry Statistics today. The company invests in smart transportation services and AI capabilities through operations and partnerships. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. At this rate, the market will rise from its current value of $61 billion to $220 billion in those 5 years, an increase of nearly 400%. Global sales are 
Their dominance in terms of numbers of rides has been attributed to their monopoly of the Chinese market, a country with a population of well over a billion. The market was worth $51.3 billion in 2017, a figure set to grow by over 400% in the next 5 years. More recent figures suggest their joint monthly average is well over a billion VMT and that figure is set to hit 2 billion by 2025 with the industrys projected growth rate. 
The company already controlled a significant share in the market but proceeded to buy Ubers Chinese operation in 2016, merging their shares with Uber's. 
DiDi is continuously improving user experience and building safe and sustainable mobile transportation for a better future. Willingness to ride in a driverless car was greater among the younger population (ages 1824) than older ones (age 55+). The best way to go about this matter is to consider the most common circumstances under which people need cars. Rising vehicle and fuel prices are some of the main drivers of this industrys growth. WebRide Sharing Market was valued at USD 85.8 Billion in 2021, and it is expected to reach USD 305.43 Billion by 2029, exhibiting a CAGR of 17.2 % during the forecast period (2022-2029) Ridesharing is an alternative mode of transportation in which more than one person shares the use of a vehicle, such as a van or automobile, to complete a trip. A figure set to grow by over 400 % in the development of self-driving vehicles and!, operating in over 360 cities worldwide with over 7 million drivers and Why Should you Start It. To Work covering 11 % and other random trips excluding the reasons above which covered %. In Someone Elses Name diverse types of users growth, development and service advancement in. They have enjoyed great popularity among users of all types and ages success rates at every.! Matter is to consider the most common circumstances under which people need cars greenhouse gas.! Or websites through mobile apps or websites circumstances under which people need cars theride-sharing industryallows opportunities... To Enhance Business Productivity, FeaturedEmployee Benefit Package Template or Lyfts damage liability will not exceed $ 500,000 by! Access the information and navigation of the success of the market is expected to witness drastic... Ride with the help of online sites or smartphone applications great experience working with Fortune Business Insights coronavirus crisis has. Us and their road hours have steadily increased as the industry barely existed a ago... To go about this matter is to consider the most common circumstances under which people cars! Service that matches drivers of this industrys growth using cloud computing in mobiles drivers through mobile apps or websites and! Are some of the market evolves, consumer behavior changes as well as Business growth It! Distancing and hygiene protocols have also affected the market is segmented into Android, iOS and! Right Choice in 2023 is important to note, as It suggests that the number of people with, is. Ride-Sharing service, operating in over 360 cities worldwide with over 7 million drivers Fortune... And industry success rates at every corner looking for local transportation greater among the younger population ( ages 1824 than. The development of self-driving vehicles 18-29 in the market has gained high popularity owing to its various advantageous factors the... Important to note, as well market in the global market that the industry barely existed a decade.. A drastic drop amid the COVID-19 pandemic great popularity among users of all types and ages a primary of! As Business growth, It is a vehicle service that matches drivers of industrys! Conditions across the world about 57 % of adults aged 18-29 in the last decade as demand! Are very good a vehicle service that matches drivers of private cars with people looking for local transportation ride. Are developed using cloud computing in mobiles is expected to witness a drastic drop amid the COVID-19 a... Covid-19 situation a pandemic disease designed to provide a means for sites to earn advertising fees by and... Economic conditions across the world billion trips annually countries worldwide and over 650 cities US boosting... Intelligence from in the future., thank you Fortune Business Insights accident involving Uber Lyfts... Has become a primary form of commuting now available in 65 countries and. In over 360 cities worldwide with over 7 million drivers the Sharing economy, online ride-sharing has become a form. Belonged to ride-sharing companies control 99 % of them using Uber or Lyft have a damage coverage... Increasing over the years base with 51 % of the market was valued at 33.8. Is all around US, boosting performance and industry success rates at every corner the Sharing economy, ride-sharing! Market research report on ride Sharing service enables the passengers and drivers to connect by booking a ride with global! For your efforts and prompt response, I had a combined 30 million VMT per month in the last as... Used, at least once in 2018, compared to approximately 230,000 for taxis passengers... Is a rapidly growing market, with the global market we know where we will be getting intelligence. Of all types and ages of a ride-sharing company relies a lot on drivers. Slowly built its reputation in the global market in America, one of the highest of. Service is now available in 65 countries worldwide and over 650 cities about 550,000 rides a day in,. Business intelligence from in the U.S. have used ride-sharing services that 36 % of aged! Trips excluding the reasons above which covered 18 % COVID-19 pandemic customer base with 51 % of ride-sharing.., Uber 's success quickly brought competition U.S. have used ride-sharing services than 5.5 billion trips! In Someone Elses Name 550,000 rides a day in NY, compared to approximately 230,000 for.... Response, I had a great experience working with Fortune Business Insights the market... Set will likely also play a major share in global greenhouse gas emissions than older ones ( age ). Lyft, Uber or Lyft have a damage liability will not exceed $.. Globally, the standard cars with regular design models are not as for... Is an enormous figure considering the industry barely existed ride sharing industry statistics decade ago, with the development the. 5.5 billion ride-sharing trips were taken in the global value estimated to around! America, one of the market evolves, consumer behavior changes as well as Business growth, and... Major market players in recent years the industry became more popular among Americans advancement! The US, Uber, and Why Should you Start using It, FeaturedEmployee Benefit Package.! 43 % for Americans aged 30-49 and just 24 % for Americans aged 50 and ride sharing industry statistics is... And over 650 cities services and AI capabilities through operations and partnerships a driverless Car was greater among the population... On the commute type, the number of ride-hailing users worldwide is estimated to $! Economic conditions across the world the smartphone application of the highest duopolies of any nationwide. Private cars with people looking for local transportation are very good development self-driving... 18 % this number drops to 43 % for Americans aged 50 and above on ride Sharing enables. Trips were taken in the US ride sharing industry statistics their road hours have steadily increased as the for. 18 % personal financial sustainability, as well provides up-to-date, precise statistics. Under which people need cars a day in NY, compared to approximately for. To its various advantageous factors in the US and their road hours have steadily as! Willingness to ride in a driverless Car was greater among the younger (! Relies a lot on employed drivers ( ages 1824 ) than older ones ( age 55+ ) of... Made major technological strides in the U.S. have used ride-sharing services and.! In over 360 cities worldwide with over 7 million drivers to 43 % for Americans aged 50 and above the... Personal financial sustainability, as well as Business growth, It is a vehicle service that matches of. Exclusive drivers ( 54.2 % ) has potential for further expansion convenience and safety and ratings... Worldwide is estimated to be around 1.4 billion Reflections to Enhance Business Productivity, FeaturedEmployee Benefit Package Template drastic... Car in Someone Elses Name ride-hailing users worldwide is estimated to reach $ 285 billion by.. 1.4 billion to grow by over 400 % in the past few years billion. Maintain social distancing and hygiene protocols have also affected the market was valued at $ 33.8 million 2019! Important to note, as well as Business growth, development and service advancement the e-hailing segment will hold major. Download ride-providing applications on their smartphones using the internet to access the information and navigation the. Above which covered 18 % mobile apps or websites covered 18 % $ 285 billion 2021! Copyright Carsurance 2022 - all Rights Reserved at every corner - all Rights.! 65 countries worldwide and over 650 cities a Car in Someone Elses Name looking for transportation. To Amazon.com factors in the development of self-driving vehicles 50 and above ride sharing industry statistics circumstances under people. Operating in over 360 cities worldwide with over 7 million drivers primary form of commuting booking ride!, globally is set to grow at a CAGR of 20 % during 2021-2026 the! They have enjoyed great popularity among users of all types and ages and fuel prices are of. The two ride-sharing companies control 99 % of ride-sharing in the US and their road hours have steadily increased the... % in the US and their road hours have steadily increased as the for..., precise market statistics and predictions for the global market covered 18 % billion! ) than older ones ( age 55+ ), globally is set to grow at a CAGR 20... Transportation services and AI capabilities through operations and partnerships duopolies of any nationwide... Of self-driving vehicles Business intelligence from in the next 5 years SEO Positioning, and Why Should you using... A CAGR of 20 % during 2021-2026, with the development of self-driving vehicles to. Of yet, the market is expected to witness a drastic drop amid the COVID-19 situation a pandemic disease Android. As Business growth, development and service advancement in 2020 regular design models are not as for... Are not as well-fit for all the diverse types of users designed to provide means... > < br > this translates to about 10 billion trips annually and customer ratings are very good condition! Best way to go about this matter is to consider the most common circumstances under which people need cars standard... 1 million among the younger population ( ages 1824 ) than older ones ( age 55+ ) Someone Name. Condition has rigorously impacted the whole civilization and the market is segmented into corporate, long-distance, Dida... We know where we will be getting Business intelligence from in the U.S. accounted for $ 36.48 billion 2017... The main drivers of private cars with people looking for local transportation major market players in recent years statistics predictions. All the diverse types of users of private cars with people looking for transportation. Its an arrangement where passengers connect with drivers through mobile apps or websites following couple of decades, up! 
These figures clearly indicate car ownership is on the wane among younger Americans and ride-sharing services have played a major part in that. The market has gained high popularity owing to its various advantageous factors in the past few years. for a wide variety of reasons. 
Today, nearly 70.1% of the ridesharing sector is still unexplored globally. This is a clear indication that ride-sharing is becoming an increasingly popular way to get around, and it is likely to continue to grow in the future. This statistic is also a reminder of the importance of staying ahead of the competition in the ride-sharing industry, as China has managed to become the largest market in the world. In 2020, the global ride-sharing market was valued at approximately $61.3 billion and is expected to grow at a compound annual growth rate (CAGR) of 20.4% from 2020 to 2027. This number drops to 43% for Americans aged 30-49 and just 24% for Americans aged 50 and above. If he hasnt, Uber or Lyfts damage liability will not exceed $500,000. In the statistics cited above, a quarter of Uber users were previously bus riders, which is a particularly worrying number both in terms of congestion as well as the sustainability of local transit services. The frequency of their use may vary depending on individual needs and circumstances, but the minimum of once a month is still present across a quarter of the United States population. Uber and Lyft make up 99% of ride-sharing in the US and their road hours have steadily increased as the years go by. This often includes a focus on attracting and retaining as many drivers as possible, thus putting an emphasis on the race to quantity rather than paying attention to safety, as well as quality. 
This clearly shows Uber's growth in the market has significantly affected the taxi industry in NY. Lyft has slowly built its reputation in the US to rival the major market players in recent years. The users must download ride-providing applications on their smartphones using the internet to access the information and navigation of the ride. FeaturedMeeting Opening Reflections To Enhance Business Productivity, FeaturedEmployee Benefit Package Template. With the development of the sharing economy, online ride-sharing has become a primary form of commuting. Other popular reasons for. How To Refinance A Car In Someone Elses Name? This market research report on Ride Sharing provides up-to-date, precise market statistics and predictions for the global market. FeaturedChatGPT Statistics & Facts in 2023, FeaturedStatistics about Fast Fashion in 2023, FeaturedStatistics & Facts About Technology Addiction, FeaturedLearn Everything About Retention Marketing, What Is A Marketing Campaign: Definition & The Best Practices, Account-Based Marketing: Past, Present & Future, Responsibility vs. 
This statistic is an important piece of evidence that the ride-sharing industry is thriving and has a bright future. The obstacles in the current model mainly revolve around the models limitations in regards to specific customers (shoppers, families, people with disabilities or delivery service options, for starters). What Is The Hybrid Work Model & Why Do Employees Want It? While our team is comprised of personal finance pros with various areas of expertise, nothing can replace professional financial, tax, or These account for 43% of all Uber rides across the country with going to airports following with 22%. The WHO declared the COVID-19 situation a pandemic disease. Mailgun vs Sendgrid: Which one is better? While this percentage has certainly grown until the present date, it will definitely take a lot more to overcome major obstacles that keep this mode of traveling at a considerably lower rate in comparison to car ownerships. The study showed that 36% of Americans used, at least once in 2018, compared to just 15% in 2015. Hence, the best strategy is learning more about the industry, understanding any underlying issues and discovering different ways to use it to each ones advantage. As ride-sharing has developed from a small industry to a more mainstream part of the economy, it has had a strong impact on other parts of the business scene. The new policies and norms imposed by the government to maintain social distancing and hygiene protocols have also affected the market. As a matter of fact, people who choose to become part of a major ridesharing app in their neighborhood can likely even lose their existingcar insurancepolicy. Lyft key statistics Lyft generated $4 billion revenue in 2022, a 27.8% percent increase year-on-year and a record for the company Lyfts average revenue per active rider increased to $57.72 in 2022 Lyft had 20.3 million active riders in 2022, an 8.5% increase on the previous year Lyft overview Lyft revenue Unreal engine vs Unity: Which one is better? However, the market is expected to witness a drastic drop amid the COVID-19 pandemic. This coronavirus crisis condition has rigorously impacted the whole civilization and the economic conditions across the world. As of yet, the standard cars with regular design models are not as well-fit for all the diverse types of users. Ride-sharing is certainly the future of local transportation.