Market Trends

Ride Hailing Market Overview: According to the UN World Tourism Organization (UNWTO), world international tourism faced an increase of 6%, which corresponds to 1.4 billion tourists, in 2018.   This highlights the need for safe commute and transportation system. With the advent of ride hailing services, travelling and commutes across the world have improvised along with better public safety, reduced transportation cost, and location tracking systems. Additionally, the transportation network companies (TNCs) have adopted user-friendly e-hailing apps that provide convenient rides to passengers with valuable services such as door-to-door transport, car rentals, car sharing, and peer-to-peer ridesharing. While people in bigger cities have to spend a larger section of their time in carpool lanes, trains, buses, and taxis, the ride hailing facilities make everyday commute a much easier process. Resultantly, there is a growing demand for these services in many developed and developing nations