Global Ride Hailing Services Market With Highlights the Impact of COVID-19, 2020-2024 | Use of Online On-Demand Transportation Services to Boost Market Growth | Technavio
Summary
LONDON--(BUSINESS WIRE)--The global ride hailing services market size is expected to grow by USD 47.03 billion during 2020-2024. The demand for on-demand transportation services providers is increasing mainly due to rapid urbanization in the developing countries in APAC. The market is also witnessing an increased number of strategic alliances and partnerships among rival companies operating in different geographic locations. Thus, the growing M&A activity and rise in strategic alliances is identified as one of the key trends that will drive market growth. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing urbanization, growing disposable income, rising demand for car sharing services, adoption of smartphones along with expanding Internet connectivity, and flourishing tourism.