Ride-Hailing Market Size

Statistics for the 2023 & 2024 Ride-Hailing market size, created by Mordor Intelligence™ Industry Reports. Ride-Hailing size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Ride-Hailing Industry

Single User License
Team License
Corporate License
Book before:
Ride-hailing Market Summary
share button
Study Period 2019 - 2029
Market Size (2024) USD 194.98 Billion
Market Size (2029) USD 296.57 Billion
CAGR (2024 - 2029) 8.75 %
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Ride-hailing Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Ride Hailing Market Analysis

The Ride-Hailing Market size is estimated at USD 194.98 billion in 2024, and is expected to reach USD 296.57 billion by 2029, growing at a CAGR of 8.75% during the forecast period (2024-2029).

During the outbreak of pandemic COVID-19, the market was hit badly because of the imposed lockdowns around the world to curb the spread of virus. Yet, with gradual reopening of economies demand is returning to the market.

In recent years, passenger preferences for utilizing ride-hailing services across the developing countries, such as India, China, Vietnam, etc., have increased, along with increasing demand in the developed regions, such as the United States and Europe. This has led the companies to enhance the options and expand their operations to be provided in mobile applications, to retain their respective market shares in a highly competitive market.

Ride-hailing companies are working to eliminate tailpipe emissions and reduce the overall vehicle carbon emissions globally, by converting gasoline vehicles to electric. Fleet conversion has various direct environmental benefits and indirect benefits for other markets. It can support the public charging infrastructure and increase individual consumer exposure to EVs.

Ride Hailing Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)