Ride Hailing Market Report 2026

The ride hailing market size has grown strongly in recent years. It will grow from $163.55 billion in 2025 to $178.53 billion in 2026 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing smartphone penetration, urban congestion challenges, growth of on-demand mobility preferences, expansion of gig economy workforce, availability of GPS-enabled navigation technologies.

The ride hailing market size is expected to see strong growth in the next few years. It will grow to $252.14 billion in 2030 at a compound annual growth rate (CAGR) of 9%. The growth in the forecast period can be attributed to increasing adoption of autonomous ride services, expansion of electric vehicle ride fleets, rising integration with public transport systems, growing focus on sustainable urban mobility, increasing investments in mobility platforms. Major trends in the forecast period include expansion of app-based ride booking platforms, rising adoption of electric ride-hailing vehicles, growing integration of dynamic pricing algorithms, increased focus on driver and passenger safety features, expansion of multi-modal mobility services.

The growth of the ride-hailing market is being driven by on-demand transportation services and a decreasing rate of car ownership among millennials. On-demand transportation services are characterized by flexible routing and ad-hoc scheduling of private vehicles, providing a personal transport experience for the public by allowing passengers to choose their pick-up and drop-off locations. These ride-hailing services enable customers to accurately locate vehicles, track their journeys, and ensure safety for occupants, which is expected to significantly boost market growth. Additionally, millennials are experiencing a lower rate of car ownership due to the high maintenance costs associated with personal vehicles, leading to increased demand for ride-hailing services. They prefer practical, smartphone-accessible transport options that are straightforward, flexible, and cost-effective rather than owning a car. Furthermore, purchasing and maintaining a new car tends to be more expensive than renting a vehicle annually. For example, in February 2024, the Bureau of Transportation Statistics, part of the US Department of Transportation (DOT), reported that for-hire freight shipments increased by 1.8% in December 2023 compared to December 2022, while the Freight Transportation Services Index rose from 136.6 in December 2022 to 139.1 in December 2023. Therefore, the growth of on-demand transportation services and a lower rate of car ownership among millennials are driving the expansion of the ride-hailing market.

Leading companies in the ride-hailing market are dedicated to innovating products such as ride-hailing services apps to deliver reliable services to their customers. These apps connect passengers with local drivers who use their personal vehicles. For instance, in March 2023, Godugo Travel Solutions Private Limited, an India-based company offering a vehicle booking mobile app for taxi services, introduced Godugo. This ride-hailing app empowers drivers to operate their businesses through the platform and incorporates advanced features such as a System of Systems (SOS) system. The SOS system sends alerts to users within a 1km radius and the nearest police station when a female passenger or driver feels threatened.

In March 2025, Bolt, an Estonia-based provider of ride-hailing, scooter and e-bike rentals, car rental, and shared mobility services, acquired Viggo for an undisclosed amount. With this acquisition, Bolt strategically expanded its ride-hailing footprint into the Danish market to reinforce its presence in Northern Europe and improve local service offerings. Viggo is a Denmark-based provider of ride-hailing services, operating an all-electric vehicle fleet and serving customers across Denmark’s major urban centers.

Major companies operating in the ride hailing market are Uber Technologies Inc., Lyft Inc., DiDi Chuxing Technology Co., Grab Holdings Inc., Ola Cabs, Bolt Technology OÜ, BlaBlaCar, Gett Inc., Curb Mobility, Gojek, Via Transportation Inc., Cabify, Wingz Inc., Addison Lee Ltd., Yandex.Taxi, Easy Taxi, LeCab, Zūm Services Inc., T3 Mobility, Heetch, Beat, Meru Cabs, Ryde Technologies, FastGo, GoCatch, Liftango, Blacklane GmbH, Shohoz.

Asia-Pacific was the largest region in the ride hailing market in 2025. Western Europe was the second largest region in the global ride hailing market share. The regions covered in the ride hailing market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ride hailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The ride hailing market includes revenues earned by entities by connecting local drivers and assailants using an online platform to provide travelling services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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