Ride Sharing Market: How E-hailing Services are Dominating the Sector

The global ride sharing market size was valued at USD 42.9 billion in 2024 and is projected to reach USD 96.9 billion by 2030, expanding at a CAGR of 13.7% from 2025 to 2030. Key factors driving this growth include increasing efforts to reduce carbon emissions, rapid urbanization, rising consumer preference for limited liability, and the lack of efficient public transport services in several countries.

One of the major growth drivers for this market is the rising cost of vehicle ownership. With manufacturers incorporating advanced technologies, battery-powered engines, and innovations such as advanced driver assistance systems (ADAS), the prices of passenger cars have increased significantly. For example, leading brands including Tata Motors, KIA, and others announced price hikes in 2024.

Many cities worldwide still face challenges due to inadequate public transport systems. Coupled with growing traffic congestion, longer travel times, and an increase in road accidents, consumer behavior is shifting toward ride sharing, as individuals prefer solutions that minimize ownership liability.

The presence of ride sharing services in major cities such as New York, Tokyo, London, Seoul, Los Angeles, Zurich, Shanghai, Abu Dhabi, Berlin, Istanbul, Mumbai, and others is anticipated to fuel market growth in the coming years. Additional benefits, including reduced travel expenses, lower parking demand, and convenience, are further strengthening adoption.

Key Market Highlights:

• Asia Pacific dominated the global ride sharing market, accounting for a 49.3% revenue share in 2024.
• The India ride sharing market is projected to record the fastest CAGR from 2025 to 2030.
• By service, the e-hailing segment led the market with a 57.9% revenue share in 2024.
• By vehicle, the internal combustion engine (ICE) segment held the largest share at 57.8% in 2024.
• By platform, the app-based platform segment dominated the market in 2024.

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Market Performance:

• 2024 Market Size: USD 42.9 Billion
• 2030 Projected Market Size: USD 96.9 Billion
• CAGR (2023–2030): 13.7%
• Asia Pacific: Largest market in 2024

Prominent Companies & Market Dynamics:

Some of the leading companies in the global ride sharing market include Uber Technologies, Inc., Lyft, Inc., Didi Chuxing Technology Co., Ltd., Ola Electric Mobility Ltd., and others. To strengthen their position, players are focusing on service differentiation, customer support, automation, and innovation.

• Uber Technologies, Inc. operates across multiple countries with millions of monthly active users. Beyond ride sharing, it also provides food delivery services in select regions. Its mobility offerings include UberX Share, UberX, Uber Green, Uber Taxi, Uber Reserve, Uber Intercity, and more.
• Didi Chuxing Technology Co., Ltd. is a key global player in mobility technology, providing a wide range of app-based services across regions such as Argentina, Australia, Brazil, Costa Rica, Ecuador, Egypt, New Zealand, Peru, Mexico, Japan, Chile, and others.

Key Companies:

• Uber Technologies, Inc.
• Lyft, Inc.
• Via Transportation, Inc.
• Zoox, Inc.
• Didi Chuxing Technology Co., Ltd.
• Ola Electric Mobility Ltd.
• Grab
• Gett
• Revel
• BlaBlaCar

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Conclusion

The global ride sharing market is set to witness robust growth, driven by rising urbanization, the increasing cost of vehicle ownership, and the urgent need for sustainable mobility solutions. With Asia Pacific leading the market and India projected to grow at the fastest pace, ride sharing services are expected to play a pivotal role in reducing congestion, cutting carbon emissions, and offering affordable transport alternatives. Backed by innovation, app-based platforms, and strong participation from global players, the industry is well-positioned for long-term expansion through 2030.