The Global Rise of Ridesharing: What Does the Future Hold?
Ridesharing companies are less than a decade old and they are already disrupting transport industry with unprecedented force and speed. Millions of people around the world use ridesharing apps. Millions more will be using them soon. As consumer markets grow in different parts of the world, so does the competition for every user. Yet, so much remains unclear or unknown about the business of ridesharing, including competition between global and local players and the future of ridesharing in the face of changing consumer behavior and legal and regulatory battles. That’s until now — today 7Park Data published the latest Insight Series report, “The Trillion Dollar View: Ridesharing,” in which we unveil the business landscape and the future potential of the US and global ridesharing industry.
In this report we analyze content sourced from more than a billion consumers around the world and review the ridesharing industry’s growth trajectory over the past four years to provide nuanced insights into consumer preferences, industry trends, and growth potential across and within major markets. Below are a few highlights from the report.
US consumers are not brand loyalists
In their search for a better deal, Uber riders have been experimenting with Lyft at an increasing rate. Even though Uber dominates the US market, Lyft has been gaining market share on Uber year over year since 2014 in 19 out of 20 major cities. Lyft’s gains in US market share are meaningfully impacted by crossover riders.
Uber shakes up the ridesharing scene in Brazil
Uber’s arrival in Brazil significantly contributed to the stalling of user penetration and erosion of active usage between the country’s two local competitors — 99Taxis and EasyTaxi.
Duel heats up in India
As the duopolistic battle in India rages on, Ola and Uber fight for immense market opportunity. Their combined number of monthly active users (MAUs) approximates to half (52%) of the market, translating to roughly 114 million potential ridesharing participants among active smartphone users.
Would you like to learn more about the fierce competition in the world of ridesharing? How are consumers actually using ridesharing apps? What was the tipping point in the Chinese market that forced Uber China to sell to Didi? Will ridesharing ever win over local regulators and organized labor in Europe?
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Find answers to these and other vital questions about the current state and future of ridesharing to make data-driven, well-informed decisions. Don’t wait, fill out the form below to get a preview of the report and connect with our team to purchase the full report.