Ride-Hailing Market - Business Revenue Forecast

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Ride-Hailing Market Growth, Size Future Scope
Research Report
In 2018, the global ride-hailing market reached a
value of 50.4 billion and is predicted to
generate 120.2 billion in 2024, advancing at a
13.0 CAGR during the forecast period
(20192024). The market is witnessing growth due
to the rising concerns toward environmental
degradation, government initiatives, convenient
and economically efficient mobility option, and
road congestion in urban areas.
Ride-hailing services are offered by
transportation network companies that utilize
online mobile applications for matching
commuters transport needs of reaching specific
destination from specific origin.
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Among all the regions, namely Asia-Pacific
(APAC), North America, Europe, and Rest of the
World, the APAC region dominated the ride-hailing
market during the historical period and is
further expected to account for the largest share
of the ride-hailing services market during the
forecast period. Request to Get the Sample
Report_at_ https//www.psmarketresearch.com/market-
analysis/ride-hailing-market/report-sample This
is because of the rising requirement for
ride-hailing services in the region
and increasing concern regarding surging
pollution. In addition to this, the need for
alternative mobility options for dealing with
road congestion during peak hours and growing
internet penetration are also contributing to
the rising demand for these services APAC. The
introduction of robo taxis is a key trend that is
being observed in the ride-hailing market.
Autonomous taxis will offer ride-hailing services
at much lower cost because of their higher
utilization rate as compared to mobility services
that are currently present. Make Enquiry for the
Report_at_ https//www.psmarketresearch.com/send-enqu
iry?enquiry- urlride-hailing-market This can
further result in the shift in preference of
customers from buying personal vehicles to
availing ride-hailing services. Attributing to
these factors, different vehicle manufacturers
and technology companies are increasingly
focusing on the development of autonomous
taxis. Thus, the market is growing due to the
surging concern regarding environmental
degradation and convenience and economic
viability of ride-hailing services.