Ride-hailing Market to reach USD 441.20 billion by 2032 - Coherent Market Insights

Ride-hailing Market to reach USD 441.20 billion by 2032

The global ride-hailing market is likely to be valued at USD 181.72 billion in 2025. It is predicted to touch a USD 441.20 billion valuation by 2032, exhibiting a CAGR of 13.5% during the forecast period (2025-2032).  

Affordable commute options and rapid urbanization in cities are major factors driving the market growth significantly. The availability of urban mobility apps and efforts by companies to ensure their customers meet their transport needs can contribute to the market growth.

However, stringent government regulations on ride-hailing firms can pose a hindrance to the ride-hailing market.

Key Market Insights

The ride-hailing market is forecast to witness robust growth owing to demand for convenient transportation options and adoption of new technologies.

• By offering, the e-hailing segment is expected to contribute a 45.8% share to the ride-hailing market in 2025. This can be attributed to the convenience of mobile apps and on-demand model followed by companies. The flexible payment options for customers and privacy on long trips can drive the segment growth over the forecast period.
• By vehicle type, the four wheeler segment is expected to contribute nearly 68.8% share to the ride-hailing market in 2025. This can be attributed to the popularity of ride-sharing which is deemed to reduce the trip price and offer mobility options to senior customers.
• By end user, the business segment is expected to contribute maximum share to the global market in 2025. Corporations are engaging the services of ride-hailing companies to transport their staff. For instance, Swvl, an Egypt-based company, is collaborating with Saudi Awwal Bank (SAB) to provide shuttle buses for their employees in December 2024. The employees can catch the buses from the nearest metro stations and enjoy seamless commutes to their respective branches.
• In terms of region, North America is expected to hold a 37.9% market share in 2025. This can be attributed to the penetration of ride-hailing apps and preference for cabs over public transit by customers. The region is home to Uber and Lyft that control a major share of the regional ride-hailing market.

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Ride-hailing Market Report Coverage

Market Dynamics

The ride-hailing market is forecasted to perform significantly over the forecast period owing to the huge demand for urban mobility and the adoption of new technologies by ride-hailing companies. Ride-hailing services provide safety and convenience to its riders and have faced increasing adoption in major cities. This is proven by Marti, Türkiye’s leading mobility super app, recently onboarding 290,000 thousand registered drivers and 1.91 million riders in March 2025.

Driverless technologies and artificial intelligence (AI) are technologies integrated by ride-hailing companies to enhance their services. This is proven by the likes of Tesla and Waymo launching driverless cars and robotaxis in selective cities in the U.S. For instance, Lyft partnered with Anthropic to handle customer queries in February 2025. It has reduced customer service resolution time by 87% and will collaborate to launch more AI features to aid riders and drivers.

Market Opportunities

First and Last Mile Connectivity

The ride-hailing market is predicted to scale rapidly owing to the growing middle class and their demand for affordable transport. Frequent traffic congestion issues provide a prime opportunity for market leaders to offer their services to customers.

Advances in autonomous vehicles can provide a chance for efficient operations. For instance, Tesla was granted a permit for ride-hailing services by the state of California, U.S. in March 2025. It can transport its employees on a pre-arranged basis but needs the permission of the California Public Utilities Commission (CPUC), an agency of the state, to extend their services to the masses.

Market Challenges

Stringent Regulations

Stringent regulations around vehicle inspections, driver background checks, and intense scrutiny from municipal agencies can pose a challenge for new market entrants. For instance, the Department of For-Hire Vehicles (DFHV), an agency responsible for overseeing the for-hire vehicle sector in Washington, D.C., has been fining Empower, an alternative to Uber and Lyft. This move can deter other ride-hailing companies from moving their operations into the city.

Analyst’s View

“The global ride-hailing market is expected to scale comfortably over the forecast period owing to rapid urbanization and high disposable income levels of customers”, quips Mr. Gautam Mahajan, a research consultant working in Coherent Market Insights.

“The preference for affordable commuting options and the widespread adoption of smartphone apps for connecting customers with cab-hailing services can drive the market growth significantly. Vulnerability to high gas prices that affect cab driver fares can pose a roadblock to the market growth.

North America is expected to dominate the global market over the forecast period, but Southeast Asia can overtake that position due to popularity of motorcycle taxi services.”

Recent Developments

Waymo LLC, an autonomous driving company and a subsidiary of Alphabet, Inc., will launch a ride-hailing service for residents of Washington, D.C., in 2026. The service adds the city to its existing network of Los Angeles, San Francisco, Phoenix, and Austin.

Competitor Insights

• Beat
• FreeNow
• Bitaksi
• DiDi Mobility
• Bolt
• Lyft
• InDriver
• Grab
• Ruta 66
• Uber
• Swvl
• ViaVan
• Ola Cabs
• Ola Electric
• Gojek

Market Segmentation

• Offering
• E-hailing
• Rental
• Car Sharing
• Vehicle Type
• Four Wheeler
• Others (Two Wheeler, Three Wheeler)
• End User
• Personal
• Business

Regional Insights

• North America
  • U.S.
  • Canada
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Europe
  • Italy
  • Germany
  • U.K.
  • Spain
  • France
  • Russia
  • Rest of Europe
• Asia Pacific
  • South Korea
  • India
  • Japan
  • China
  • Australia
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC Countries
  • Israel
  • Rest of Middle East & Africa