Market Challenge:Stringent regulations

Increased regulations around driver background checks, vehicle inspections and licensure increases operation costs. Attracting and retaining drivers remain a hurdle as many seek more stable employment. Changing consumer preferences as pandemic restrictions lift also introduces uncertainty.

Market Opportunity: First and last mile connectivity

Rising middle class population globally boosts demand for affordable mobility options. Furthermore, many cities still face traffic congestion issues, providing opportunities for these services to replace individual car ownership. Penetration remains relatively low in many developing markets, opening doors for players to tap new customer segments. Advancements in autonomous vehicles also present a chance for more efficient operations.

Ride-Hailing Market Report Snapshots