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The most interesting players in the ride-hailing market

The latest analyst estimates are that the ride-hailing companies completed 28 billion rides in 2019 with 27% annual growth. In this article, I’ve listed the latest moves of the biggest car manufacturers and some other major players in this field.

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28 billion rides in 2019 vs 22 billion 2018

According to ABI Research, the ride-hailing companies completed 28 billion rides in 2019 resulting in 27% annual growth. The market has grown rapidly — there were 22 bn rides in 2018 and 16 bn rides in 2017

The biggest number of rides were provided by:

Over 70% of the rides in Asia — only 5% in Western Europe

According to ABI Research, the biggest ride-hailing markets are China, India, the USA, and Indonesia. As a result of expensive and inconvenient private car ownership, over 70% of the global ride-hailing trips were in Asia in 2017. In contrast, due to stricter government regulation, only 5% of the trips were in Europe.

Uber has the largest global coverage even though it has exited from several markets: Uber China business sold to Didi Chuxing in 2016, Uber Russia business merged with Yandex in 2018, and SouthEast Asia business sold to Grab in 2018. Uber received shares of the acquiring companies in each of these transactions but has denied all inquiries about any wider consolidation activities.

Several Unicorns with Billions of Funding

List of the ride-hailing companies that have raised at least $1 billion funding. There are several others that have raised hundreds of millions not listed here.

Internationally operating ride-hailing companies

Some interesting ride-hailing companies operating in several countries (listed by the country of origin).

Car manufacturers moving to ride-hailing

The car industry expects a disruption due to shared, automated, electric vehicles and has started to invest in partnerships with ride-hailing companies or establishing their own operations. I have gathered a list of some of the most interesting initiatives in the following:

Technology companies in ride-hailing

In addition to car manufacturers, many pure technology companies are also investing heavily in ride-hailing:

References

The references are included as links in the text above. The market size and estimates are from ABI Research. I have listed additional interesting references on my own article “Ride-hailing replacing car ownership”.

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Erkka Niemi, PhD

Erkka Niemi, PhD

Technology enthusiast CTO with a lifelong addiction to skateboarding in Helsinki & Palo Alto @Unikieinc @AaltoUniversity #SelfDrivingCars #DeepTech