COVID 19 Impact on Global Ride-Hailing Market Future: Ken Research
Major players in the ride-hailing market are Uber Technologies Inc., Grab, ANI Technologies Pvt. Ltd., Gett Inc., Lyft Inc., DiDi Chuxing, Delphi Automotive, Daimler AG., BlaBlaCar, and Didi Chuxing Technology Co. The global ride-hailing market is expected to decline from USD 60.5 billion in 2019 and to USD 52.07 billion in 2020 at a compound annual growth rate (CAGR) of -13.88%. The decline is mainly due to the COVID-19 outbreak, extending lockdown across countries, and the measures to contain it. The market is then expected to recover and reach USD 85.48 billion in 2023 at a CAGR of 17.97%. The ride-hailing market consists of revenue generated by ride-hailing used for passenger transportation service in which the passengers are connected with the vehicle drivers through a smartphone-based app. The industry comprises establishments primarily engaged in providing passenger transportation by automobile or van, not operated over regular routes and on regular schedules. Establishm