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Emerging Markets and Tier II and Tier III Cities are Redefining Opportunities; MaaS Integration is the Next Milestone
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The study aims to analyse and forecast the global ride hailing market outlook and technology trends for 2018. The ride hailing market has gone beyond providing taxis to be recognized as a platform for efficient mobility services. New opportunities are arising in the emerging markets of Latin America, Africa, and the Middle East while the developed markets of North America, Asia-Pacific, and Europe offer growing opportunities in tier 2 and 3 cities. The base year for the study is 2018 while 2019-2030 is the forecast period.
Market measurements have been analyzed for 2018, 2020, 2025, and 2030. Region-wise revenue forecasts for the vehicles and ride hailing segments have been provided for the global ride hailing market. An extensive list of key players to watch for in 2018 and their business model have been discussed in this report.
Growth analysis, competitive landscape, and future technology trends have been discussed in the competitive analysis segment. Ride hailing players are partnering with different industries in order to diversify their offerings. They are focusing on market consolidation and increasing the number of vehicles connected to their platforms.
The study provides key market breakdowns, trends, strategies, and challenges impacting the global market. It also provides an overview of the regional impact of various ride hailing service providers and a comparative analysis of all the advanced technologies in ride hailing.
Technology partnerships will be key drivers for the market as advanced technology platforms improve fleet utilization, demand generation, and vehicle routing techniques, thereby increasing demand and streamlining supply. Technology providers are also looking to enter the market by providing APIs and white-label platforms to taxi companies.
Europe has a relatively higher fleet of EV taxis than other regions such as North America and the Asia-Pacific. Ride hailing service providers are also diversifying the services offered by offering repair and maintenance services, fleet supply, fuel and charging infrastructure, and advanced technology platforms. By owning parts of the ride hailing value chain, service providers are trying to gain control over the entire ecosystem and remain relevant in a highly competitive market that is moving towards a monopoly or a duopoly situation.
The autonomous taxi is another trend that is expected to disrupt the ride hailing market in terms of new business models. It entails no driver costs but requires high investment for fleet operations and maintenance. OEMs (traditional and startups) are expected to play an increasingly important role in the autonomous taxi ecosystem.
This growth is also expected to be propelled by favorable government policies, offering new mobility business models, evolving value chains, and commercial autonomous taxi services which would help in increasing fleet size.
Key Issues Addressed
Author: Ankita Mukherji
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