Ride & Mobility

Ride Sharing Global Strategic Market Report 2024-2030:

Published

9 months ago

October 30, 2024

Dublin, Oct. 30, 2024 (GLOBE NEWSWIRE) — The “Ride Sharing – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The global market for Ride Sharing was estimated at US$113.2 Billion in 2023 and is projected to reach US$305.3 Billion by 2030, growing at a CAGR of 15.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth of the global ride-sharing market is being driven by several key factors, including increasing urbanization, rising smartphone penetration, and growing demand for affordable and convenient transportation solutions. One of the primary drivers is rapid urbanization, particularly in developing regions such as Asia-Pacific, Latin America, and Africa.

As more people migrate to cities, the demand for efficient, cost-effective transportation options has surged. Ride-sharing services offer a convenient alternative to owning a car, especially in congested urban areas where parking is limited and public transportation may be overcrowded or unreliable. As cities continue to grow, ride-sharing is expected to play a pivotal role in addressing mobility challenges, offering an accessible and scalable solution to urban transportation needs.

Another major driver is the increasing penetration of smartphones and mobile internet, which has made ride-sharing services more accessible to a wider audience. The widespread availability of smartphones allows users to easily download ride-sharing apps, book rides, and pay for services, making the process seamless and efficient. As smartphone adoption continues to rise, particularly in emerging markets, more people are gaining access to ride-sharing platforms, driving market growth. Furthermore, ride-sharing companies are expanding their presence in these regions, offering localized services that cater to the specific transportation needs of these growing urban populations.

The rising cost of vehicle ownership is also fueling the growth of ride-sharing. Owning a car comes with significant expenses, including purchase costs, maintenance, fuel, insurance, and parking fees, which are increasingly becoming prohibitive for many people, particularly in urban areas. Ride-sharing provides an affordable and flexible alternative, allowing users to pay only for the transportation they need, without the long-term financial commitment of owning a vehicle. This economic advantage is especially appealing to younger generations who prioritize access over ownership in many aspects of life, including transportation.

Moreover, the growing focus on reducing traffic congestion and emissions is contributing to the expansion of the ride-sharing market. Governments and city planners are increasingly recognizing the benefits of ride-sharing in reducing the number of vehicles on the road, improving traffic flow, and lowering emissions. Many cities are partnering with ride-sharing platforms to promote carpooling, shared rides, and the use of electric vehicles, further driving the growth of the market. Regulatory frameworks that support ride-sharing and encourage sustainable urban mobility solutions are expected to further boost the market’s expansion.

The combination of increasing urbanization, rising smartphone penetration, the cost-effectiveness of ride-sharing compared to car ownership, and growing government support for sustainable transportation solutions is driving the robust growth of the global ride-sharing market. As technology continues to evolve and consumer preferences shift toward more flexible and eco-friendly transportation options, the ride-sharing market is poised for significant expansion in the coming years.

Why Is Ride Sharing Gaining Popularity Across the Globe?

Ride sharing has experienced significant growth globally, driven by its convenience, cost-efficiency, and environmental benefits. Platforms like Uber, Lyft, DiDi, and Ola have transformed commuting in urban and suburban areas by offering easy access to transportation through mobile apps. Users can hail rides in real-time without needing to own a vehicle, making it a convenient alternative to traditional taxis and public transportation.

Convenience: The ability to request a ride at any time and track the driver’s location enhances the overall user experience, making commuting more predictable and efficient.
Cost-Efficiency: Ride sharing often offers more affordable pricing options compared to traditional taxi services and public transport, appealing to budget-conscious consumers.
Environmental Benefits: Ride sharing promotes shared rides and carpooling, helping to reduce the number of vehicles on the road, lower emissions, and ease traffic congestion. This is particularly beneficial in densely populated cities with limited parking options.
Urban Mobility Solutions: As cities grapple with congestion and sustainability challenges, ride sharing has emerged as a viable solution to improve urban mobility and reduce carbon footprints.

How Are Technological Advancements Revolutionizing the Ride Sharing Industry?

Artificial Intelligence (AI) and Machine Learning: These technologies optimize routes, predict demand, and reduce wait times by analyzing data in real-time. They help match drivers with passengers accurately, ensuring faster service and minimizing idle time.
Real-Time Tracking: Advanced GPS systems allow passengers to monitor their driver’s location, estimated time of arrival, and route, providing transparency and safety.
Seamless Payment Systems: Cashless transactions and digital wallet integration streamline the payment process, improving user experience and enhancing security.
Autonomous Vehicles: Investment in self-driving technology by major ride-sharing companies aims to reduce operational costs by eliminating the need for drivers, potentially lowering ride prices and increasing vehicle availability.
Electric Vehicles (EVs): The growing adoption of EVs within ride-sharing fleets reflects a commitment to sustainability. Companies are incentivizing drivers to use EVs to reduce emissions and promote cleaner urban environments.

How Are Changing Consumer Preferences Shaping the Ride Sharing Market?

Demand for Convenience: Millennials and Gen Z prioritize flexibility and ease of use in transportation. The ability to summon rides quickly via mobile apps and the emergence of subscription models for unlimited rides cater to this demand.
Affordability: Competitive pricing compared to traditional taxis and the option for shared rides appeal to cost-conscious consumers. Promotions and loyalty programs further enhance the value proposition.
Sustainability: Environmental responsibility is increasingly important to consumers, prompting a demand for greener options. Ride-sharing services are responding by incorporating more electric and hybrid vehicles and supporting local environmental initiatives.
Social Influence: Social media and celebrity endorsements have shaped beauty standards and influenced consumer behaviors, driving demand for ride-sharing services that align with modern values.

Key Insights:

Market Growth: Understand the significant growth trajectory of the E-Hailing Service segment, which is expected to reach US$185.9 Billion by 2030 with a CAGR of a 16.0%. The Car Sharing Service segment is also set to grow at 14.9% CAGR over the analysis period.
Regional Analysis: Gain insights into the U.S. market, which was estimated at $30.8 Billion in 2023, and China, forecasted to grow at an impressive 20.3% CAGR to reach $69.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players in the Ride Sharing market such as BlaBlaCar, Cabify EspaAa S.L.U., Curb Mobility, LLC, DiDi Global, Inc., Gett and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Report Attribute	Details
No. of Pages	294
Forecast Period	2023 – 2030
Estimated Market Value (USD) in 2023	$113.2 Billion
Forecasted Market Value (USD) by 2030	$305.3 Billion
Compound Annual Growth Rate	15.2%
Regions Covered	Global

Key Topics Covered:

MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Ride Sharing – Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

Rising Consumer Focus on Convenience and Affordability Expands Addressable Market for Ride Sharing
Technological Innovations in Mobile Apps and Real-Time Data Propel Ride Sharing Adoption
Focus on Reducing Carbon Emissions and Promoting Sustainability Strengthens Business Case for Ride Sharing
Growth in Electric Vehicle (EV) Adoption Sets the Stage for Green Ride Sharing Services
Case Overview: Increasing Demand for On-Demand Transportation Services Drives Ride Sharing Market
Case Overview: Technological Advancements in Autonomous Vehicles Bodes Well for Future of Ride Sharing
Focus on Contactless Payments and In-App Services Propels Adoption of Ride Sharing
Increasing Consumer Preference for Peer-to-Peer Car Sharing Strengthens Market Growth Prospects
Case Overview: Growing Focus on Subscription-Based Mobility Models Fuels Market Expansion
Technological Innovations in GPS and Route Optimization Propel Efficiency in Ride Sharing
Case Overview: Expansion of Ride Sharing Services in Suburban and Rural Areas Generates New Market Opportunities
Case Overview: Growing Use of Ride Sharing Services for Corporate Travel Propels Market Demand

FOCUS ON SELECT PLAYERS: Some of the 51 companies featured in this Ride Sharing market report include:

BlaBlaCar
Cabify EspaAa S.L.U.
Curb Mobility, LLC
DiDi Global, Inc.
Gett
GoGet Car Share
Gojek Gojek (PT Aplikasi Karya Anak Bangsa)
Grab Holdings Limited
Hitch Technologies, Inc.
iRYDE, LLC

For more information about this report visit https://www.researchandmarkets.com/r/21whin

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Ride & Mobility

Uber and Baidu partner to launch autonomous ride-hailing in global markets

Published

23 hours ago

July 18, 2025

Reuben Henry-Fellows

Uber Technologies Inc. and Baidu Inc. have announced a multi-year strategic partnership to deploy autonomous vehicles (AVs) across selected global markets outside the United States and mainland China.

The agreement will see Baidu’s Apollo Go driverless vehicles integrated into the Uber platform, with initial operations expected to begin in Asia and the Middle East later this year.

The partnership aims to enhance ride-hailing services by expanding the availability of autonomous mobility solutions through Uber’s platform.

The collaboration is designed to increase the supply of affordable and reliable rides by supplementing existing transport networks with advanced driverless technology.

Under the terms of the agreement, users requesting eligible Uber trips may be offered the option to travel in a fully autonomous Apollo Go vehicle.

READ MORE: UK DfT fast-tracks self-driving pilots

This marks a significant step in the commercial deployment of AVs beyond pilot programmes and limited urban trials.

Apollo Go currently operates more than 1,000 fully autonomous vehicles and has established a presence in 15 cities worldwide, including Dubai and Abu Dhabi.

As of May 2025, Baidu reports that Apollo Go has provided over 11 million autonomous rides to the public, making it the most widely used driverless ride-hailing service globally by volume.

Co-founder, chairman, and CEO of Baidu, Robin Li, said: “We are committed to bringing the benefit of autonomous driving technology to more people in more markets, and this partnership with Uber represents a major milestone in deploying our technology on a global scale.

“We look forward to working with Uber to deliver safe and efficient autonomous mobility solutions to riders around the world.”

Achievements and innovations in connected autonomous vehicles will be recognised and celebrated at the fourth annual CiTTi Awards on 25 November 2025 at De Vere Grand Connaught Rooms in London. Visit www.cittiawards.co.uk to learn more about this unmissable event for the UK’s transportation sector!

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Ride & Mobility

Kakao Mobility pursues Waymo, Baidu partnerships for driverless taxis

Published

23 hours ago

July 18, 2025

the Editor

A Kakao Mobility self-driving car is being tested in the Pangyo area of Seongnam, Gyeonggi. [KAKAO MOBILITY]

Kakao Mobility, Korea’s top ride-hailing platform operator, is reportedly in talks with global autonomous vehicle leaders to launch a self-driving taxi service in Korea.

Kakao Mobility is pursuing partnerships with the U.S.-based Waymo and China’s Baidu to bring autonomous taxis, also known as robotaxis, to the domestic market through its Kakao T platform, which currently holds over 90 percent of Korea’s taxi-hailing market, according to industry sources and the Ministry of Land, Infrastructure and Transport on Friday.

If these collaborations are finalized and relevant regulatory frameworks are established, Korean users may be able to summon Waymo or Baidu robotaxis via Kakao Mobility’s platform.

The two companies are recognized as leaders in autonomous driving technology. In a March report by global market research firm Guidehouse, Waymo ranked first and Baidu second in autonomous vehicle technology.

“Both companies already operate fully autonomous taxi services — without safety drivers — in urban centers in the United States and China,” an industry official said. “They are widely considered front-runners in autonomous driving with a significant technological lead over competitors.”

Should these robotaxis be introduced to Korea, they would undergo adjustments to meet the country’s road conditions and traffic systems before being deployed for public service.

A Waymo robotaxi seen on a road in San Francisco, California on Oct. 11, 2024 [YONHAP]

Kakao Mobility hopes the vehicles will help accelerate the accumulation of real-world driving data and spur domestic development in the autonomous vehicle sector.

“Rapid progress in autonomous technology requires continuous learning through on-road data,” one automotive expert explained. “Waymo and Baidu have proven the safety of their vehicles in real traffic environments and continue to collect valuable driving data.”

However, even if agreements are reached, significant legal and logistical hurdles remain. Under current Korean law, fully driverless vehicles are not permitted on public roads. Operational areas for autonomous vehicles are also limited.

Expanding to the level of widespread robotaxi deployment seen in parts of the United States and China will take time and require cooperation with Korea’s taxi industry.

“We are in discussions with several leading domestic and international companies regarding service collaborations,” said Kakao Mobility. “However, as talks are ongoing, no specific details or finalized agreements can be disclosed at this time.”

Baidu’s robotaxi RT6, currently in operation in Wuhan, China and other areas, is seen in this photo provided by the company. [BAIDU]

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY YUN JUNG-MIN [[email protected]]

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Ride & Mobility

Bolt launches Family Profile in Nigeria to simplify shared rides – Innovation Village

Published

1 day ago

July 17, 2025

Tapiwa Matthew Mutisi

Ride-hailing company Bolt has unveiled a new Family Profile feature in Nigeria, aimed at transforming how families and small support networks coordinate transportation. This new addition enables a single user to manage and pay for rides on behalf of up to nine other people—all within one Bolt account. The move marks a significant shift toward inclusive mobility solutions in a market characterized by communal living and informal ride coordination.

While Bolt is not the first to launch such a feature—Uber pioneered the concept in the ride-hailing space—the platform is strategically adapting the idea to meet Nigeria’s unique mobility dynamics, where multi-generational households are common and transportation responsibilities are often shared among family members.

With the new Family Profile, users can add multiple individuals to a shared account, set monthly ride budgets, and receive real-time notifications about trips. This eliminates the need for constant coordination over phone calls or text messages, which, according to Bolt’s internal data, previously characterized around 2–6% of all rides in Nigeria. These trips often required the payer to relay driver details, track trip progress manually, and resolve post-ride payment concerns—an inefficient and often frustrating process.

Now, riders under the Family Profile can independently request trips through their own Bolt app, while the primary account holder retains complete financial oversight and visibility into ride histories and expenditures. The launch of this feature is part of Bolt’s broader strategy to localize its services and address real-world challenges faced by Nigerian users. For families with elderly members or relatives who may not be tech-savvy, the Family Profile offers a convenient way to ensure safe and reliable transportation without requiring them to navigate the app independently.

“At Bolt, we want to make ride-hailing work for the way people actually move,” said Osi Oguah, Country Manager for Bolt Nigeria. “Family Profile is a simple but powerful way to support others—whether it’s aging parents, adult children, or household staff—without the stress of managing every trip manually. It’s about offering control, visibility, and convenience in one seamless experience.”

The Family Profile maintains Bolt’s strict safety protocols. All added members must be at least 18 years old and possess verified Bolt accounts. The company has clarified that rides cannot be booked for unaccompanied minors, citing legal and safety reasons. However, the feature remains ideal for scheduling transportation for older adults or coordinating rides for family members with limited digital literacy.

This update builds on Bolt’s existing in-app safety features such as trip verification codes, live location sharing, real-time ride monitoring, and emergency assistance options—tools designed to reassure users in an increasingly safety-conscious market.

Bolt’s launch of the Family Profile also comes shortly after reporting a 42% drop in offline (untracked) rides over the past three months, a sign that users are increasingly turning to digital tools for secure and transparent transportation. By integrating family-focused features, Bolt reinforces its ambition to lead the ride-hailing industry in both safety and user empowerment.

The rollout of Family Profile is not just a feature upgrade; it’s a strategic evolution of Bolt’s services, grounded in the everyday realities of Nigerian households. As mobility continues to digitize across the country, innovations like this are likely to play a crucial role in shaping how families move together—safely, efficiently, and with greater peace of mind.

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