Ride Hailing Service is the type of service that takes help from the online-enabled platforms to establish a connection between the local drivers and the passengers with their personal vehicles. They are seen as a comfortable method for the door to door transport. This type of service is also regulated in the same manner as for regular taxicabs in some countries. If a passenger speaks the local language, a discussion with the driver can help them gather the inside information which the guidebooks cannot provide.
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The factors which are responsible for driving the growth of the global ride hailing service market includes the time and money-saving ability, reduced stress among the driver and the passengers along with the reliability offered. The increasing trend for the on-demand transportation services and the decline in the number of cars resulting in the reduction of traffic are some factors that are creating opportunities for the ride hailing service in the market globally during the forecast period. The increasing penetration of the internet, coupled with the smartphone users and the growing concerns for reducing the Co2 amount, are some factors further propelling the growth of the global ride hailing service market. An increase in the employment opportunities, along with the declining rate of car ownership among the millennials, is further paving the way for ride hailing service. The factors which are responsible for hindering the growth of the global ride hailing service market include the risk involved as a result of poor driver screening and the challenges involved in complying with various state and federal laws based on protecting the environment.
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Various notable players are operating in the global Ride Hailing Service market, including Uber, Lyft, Didi, Gett, Grab, Ola, Blablacar, Intel, Tomtom and Aptiv, among others.
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The global Ride Hailing Service market has been segmented on the basis of offering, vehicle type, data service, distance and key geographies. On the basis of offering, the market is categorized into E-hailing, car sharing, rental and station-based mobility. Car sharing segment is further categorized into PRP and Corporate. On the basis of vehicle type, the market is categorized into ICE vehicle, CNG/LPG vehicle, electric vehicle and micro mobility vehicle. Micro mobility vehicle is further categorized into bike/bicycle and scooter and others. Based on data service, the market is segmented into information service, navigation, payment service and others. Based on distance, the market is segmented into short distance and large distance.
Key questions answered in this research report:
- At what pace is global ride hailing service market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global ride hailing service market?
- What are the various application areas and how they are poised to grow?
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