North America Ride-Hailing Service Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service Type (E-hailing, Car Sharing, Car Rental, and Station-based Mobility), Vehicle Type (Two-Wheeler, Three-Wheeler, Four-Wheeler, and Others), Location (Urban and Rural), and End-User (Institutional and Personal)
The ride-hailing service market in North America is expected to grow from US$ 12,637.04 million in 2021 to US$ 23,758.07 million by 2028; it is estimated to grow at a CAGR of 9.4% from 2021 to 2028.
Taxis, passenger vehicles, and charter cars are examples of on-demand services, which provide real-time feedback, vehicle tracking, and rating for service experience providing to end clients. Ride-hailing services ensure that clients can reliably identify vehicles and track their journeys while also providing safety to the occupants, which is projected to boost market expansion significantly. Abundant availability of cars and comparison of fare with correspondents facilitated by many mobile applications further drive the growth of the market. For instance, Migo, a Seattle-based search engine for on-demand ride services, launched a smartphone application in August 2017 that allowed users to compare the locations and rates of nearby taxis, car-sharing, and ride-hailing providers on a single platform. Furthermore, artificial intelligence (AI) is used to efficiently coordinate and operate on-demand transportation systems. It provides passengers with traffic-related information in order to improve driver cooperation. As a result, the market has a more favorable outlook. Increased tourism activities, an increase in the working-class population, a rising trend of road trips, and modernization in the automobile sector are all expected to fuel ride-hailing service market expansion.
The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in the US. The economic growth was slowed, which directly impacted the ride-hailing service across the region. North America is one of the leading regions in terms of new technology development and adoption, owing to favorable government policies that encourage innovation and improve infrastructure capabilities. As a result, any impact on the industrial sector's expansion hinders the region's economic growth. Due of the COVID-19 outbreak, the United States is currently the world's worst-affected country. Owing to the impact of COVID-19 pandemic, the lower cross-border activities and implications of social distancing regulation for supporting the slow-down of the virus spread, the ride-hailing industry is being impacted negatively. However, increasing cost of ownership supported the market growth in the year 2021 and expected to continue in forecasted period. For instance, according to American Automobile Association (AAA), the average cost of owning and operating a new car grew by US$ 279 from 2019 to US$ 9,561 in 2020.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America ride-hailing service market. The North America ride-hailing service market is expected to grow at a good CAGR during the forecast period.
North America Ride-Hailing Service Market Revenue and Forecast to 2028 (US$ Million)
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North America Ride-Hailing Service Market Segmentation
North America Ride-Hailing Service Market – By Service Type
- E-hailing
- Car Sharing
- Car Rental
- Station-based Mobility
North America Ride-Hailing Service Market – By Vehicle Type
- Two-Wheeler
- Three-Wheeler
- Four-Wheeler
Others
North America Ride-Hailing Service Market – By Location
- Urban
- Rural
North America Ride-Hailing Service Market – By End-User
- Institutional
- Personal
North America Ride-Hailing Service Market – By Country
- US
- Canada
- Mexico
North America Ride-Hailing Service Market – Companies Mentioned
- Daimler AG
- Delphi Technologies Plc.
- Uber Technologies Inc.
- Gett
- Lyft, Inc.
- zTrip
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Ride-Hailing Service Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Ride-Hailing Service Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Trend of On-Demand Transportation Services
5.1.2 Surge in Cost of Vehicle Ownership
5.2 Market Restraints
5.2.1 Changing Transport Policies of Different Countries and Resistance from Traditional Transport Services
5.3 Market Opportunities
5.3.1 Advent of Autonomous Ride Sharing
5.4 Future Trends
5.4.1 Raising Trend of Mobility-as-a-Service
5.5 Impact Analysis of Drivers and Restraints
6. North America Ride-Hailing Service Market Analysis
6.1 Market Overview
6.2 North America Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Ride-Hailing Service Market Analysis – By Service Type
7.1 Overview
7.2 North America Ride-Hailing Service Market, By Service Type (2020 and 2028)
7.3 E-hailing
7.3.1 Overview
7.3.2 E-hailing: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Car Sharing
7.4.1 Overview
7.4.2 Car Sharing: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Car Rental
7.5.1 Overview
7.5.2 Car Rental: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Station-based Mobility
7.6.1 Overview
7.6.2 Station-based Mobility: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Ride-Hailing Service Market – By Vehicle Type
8.1 Overview
8.2 North America Ride-Hailing Service Market, By Vehicle Type (2020 and 2028)
8.3 Two-Wheeler
8.3.1 Overview
8.3.2 Two-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Three-Wheeler
8.4.1 Overview
8.4.2 Three-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Four-Wheeler
8.5.1 Overview
8.5.2 Four-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Ride-Hailing Service Market – By Location
9.1 Overview
9.2 North America Ride-Hailing Service Market, By Location (2020 and 2028)
9.3 Urban
9.3.1 Overview
9.3.2 Urban: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Rural
9.4.1 Overview
9.4.2 Rural: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Ride-Hailing Service Market – By End-User
10.1 Overview
10.2 North America Ride-Hailing Service Market, By End-User (2020 and 2028)
10.3 Institutional
10.3.1 Overview
10.3.2 Institutional: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Personal
10.4.1 Overview
10.4.2 Personal: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
11. North America Ride-Hailing Service Market Country Analysis
11.1 Overview
11.1.1 North America: Ride-Hailing Service Market- By Key Country
11.1.1.1 US: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: Ride-Hailing Service Market- By Service Type
11.1.1.1.2 US: Ride-Hailing Service Market- By Vehicle Type
11.1.1.1.3 US: Ride-Hailing Service Market- By Location
11.1.1.1.4 US: Ride-Hailing Service Market- By End-User
11.1.1.2 Canada: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: Ride-Hailing Service Market- By Service Type
11.1.1.2.2 Canada: Ride-Hailing Service Market- By Vehicle Type
11.1.1.2.3 Canada: Ride-Hailing Service Market- By Location
11.1.1.2.4 Canada: Ride-Hailing Service Market- By End-User
11.1.1.3 Mexico: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: Ride-Hailing Service Market- By Service Type
11.1.1.3.2 Mexico: Ride-Hailing Service Market- By Vehicle Type
11.1.1.3.3 Mexico: Ride-Hailing Service Market- By Location
11.1.1.3.4 Mexico: Ride-Hailing Service Market- By End-User
12. Impact of COVID-19 Pandemic on North America Ride-Hailing Service Market
12.1 Overview
13. North America Ride-Hailing Service Market – Industry Landscape
13.1 Overview
13.2 Market Initiative
14. Company Profiles
14.1 Daimler AG
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Delphi Technologies Plc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Gett
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Lyft, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Uber Technologies Inc.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 zTrip
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Ride-Hailing Service Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. North America: Ride-Hailing Service Market- By Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Ride-Hailing Service Market- By Service Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Ride-Hailing Service Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Ride-Hailing Service Market- By Location –Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Ride-Hailing Service Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Ride-Hailing Service Market- By Service Type –Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Ride-Hailing Service Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Ride-Hailing Service Market- By Location –Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Ride-Hailing Service Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Ride-Hailing Service Market- By Service Type –Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Ride-Hailing Service Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Ride-Hailing Service Market- By Location –Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Ride-Hailing Service Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Ride-Hailing Service Market Segmentation
Figure 2. North America Ride-Hailing Service Market Segmentation – By Country
Figure 3. North America Ride-Hailing Service Market Overview
Figure 4. E-Hailing Segment is Growing with Highest CAGR in 2020
Figure 5. Four-Wheeler Held the Largest Market Share in 2020
Figure 6. North America Ride-Hailing Service Market, By Country
Figure 7. North America – PEST Analysis
Figure 8. North America Ride-Hailing Service Market– Ecosystem Analysis
Figure 9. Expert Opinions
Figure 10. North America Ride-Hailing Service Market: Impact Analysis of Drivers and Restraints
Figure 11. North America Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Ride-Hailing Service Market Revenue Share, by Service Type (2020 and 2028)
Figure 13. E-hailing: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Car Sharing: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Car Rental: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Station-based Mobility: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Ride-Hailing Service Market Revenue Share, By Vehicle Type (2020 and 2028)
Figure 18. Two-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Three-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Four-Wheeler: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Ride-Hailing Service Market Revenue Share, by Location (2020 and 2028)
Figure 23. Urban: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Rural: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Ride-Hailing Service Market Revenue Share, by End-User (2020 and 2028)
Figure 26. Institutional: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Personal: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Geographic Overview of North America Ride-Hailing Service Market
Figure 29. North America: Ride-Hailing Service Market Revenue Share, by Key Country (2020 and 2028)
Figure 30. US: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Canada: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Mexico: Ride-Hailing Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in North American Country Markets
- Daimler AG
- Delphi Technologies Plc.
- Uber Technologies Inc.
- Gett
- Lyft, Inc.
- zTrip
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America ride-hailing service market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America ride-hailing service market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the ride-hailing service market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution