LONDON--(BUSINESS WIRE)--The ride hailing services market size is expected to post a CAGR of close to 19% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising use of online on-demand transportation services is one of the major reasons for the ride hailing services market growth. The demand for on-demand transportation services providers is increasing mainly due to rapid urbanization in the developing countries in APAC. Moreover, rising investments by venture capitalists have enabled several cab companies to penetrate into untapped markets. This provides ample opportunities for players to increase their overall revenue.
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As per Technavio, the growing M&A activity and rise in strategic alliances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Ride Hailing Services Market: Growing M&A Activity and Rise in Strategic Alliances
The ride hailing services market has witnessed significant growth in the number of mergers and acquisitions (M&A), which is helping companies to gain a larger market share and improve service quality. The market is also witnessing an increased number of strategic alliances and partnerships among rival companies operating in different geographic locations. This will help companies to increase their geographic presence and enhance their operations. Thus, the growing M&A activity and rise in strategic alliances is identified as one of the key trends that will drive market growth.
“Other factors such as increasing investment in autonomous vehicles, and the rising adoption of electric vehicles will have a significant impact on the growth of the ride hailing services market value during the forecast period,” says a senior analyst at Technavio.
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Ride Hailing Services Market: Segmentation Analysis
This market research report segments the ride hailing services market by service (e-hailing and car sharing) and geography (the Americas, APAC, and EMEA).
The APAC region will account for the highest incremental growth of the ride hailing services market over the forecast period. The growth in this region is attributed to several factors such as rising urbanization, increasing smartphone and internet penetration, and growing disposable income.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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