Press Release

Europe & CIS Ride Hailing Market to Cross $ 37 Billion by 2023

Enhanced passenger comfort, ease of booking, growing need to curb air pollution levels and rising internet penetration to drive Europe & CIS ride hailing market through 2023

According to TechSci Research report, Europe & CIS Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023, the region’s ride hailing market is forecast to reach $ 37.8 billion by 2023. Growing demand for better transportation services through a reliable and fast mobile platform, and rising penetration of internet and smartphone users is aiding growth in the ride hailing market in Europe & CIS. Increasing number of government initiatives aimed at reducing the volume of private vehicles on the roads amid rising air pollution levels across the region are anticipated to fuel demand for ride hailing services in the coming years.

Browse 104 market data Figures and Tables spread through 100 Pages and an in-depth TOC on  "Europe & CIS Ride Hailing Market"

United Kingdom dominated the Europe & CIS ride hailing market in 2017 and is expected to maintain its market dominance during the forecast period as well, on the back of developed automotive infrastructure in the country. In terms of vehicle type, passenger car segment accounted for a value share of around 95% in the region’s ride hailing market in 2017, as more and more people are inclining towards passenger car sharing due to its cost effectiveness and comfort.  Moreover, growing presence of various multinational companies such as Europcar, Uber, Avis, Sixt and Mytaxi is intensifying the market competition in Europe & CIS ride hailing market.

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“Demand for ride hailing services is anticipated to grow at a significant pace in the Europe & CIS nations over the coming years, on the back of increasing smartphone users and growing internet penetration across the region. Moreover, consumer preference is shifting towards ride hailing services from traditional taxis, which in turn is boosting the demand for ride hailing services across the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe & CIS Ride Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023 has analyzed the potential of ride hailing market across the region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.


About TechSci Research

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