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Rising Consumer Preference for Daily Commute is Growing the Middle East & Africa Ride Hailing Market

Rapid urbanization, tackling traffic congestion, internet penetration and emerging players are increasing the demand of Middle East and Africa Ride Hailing market.

According to the TechSci Research report, “Middle East and Africa Ride Hailing Market-By Region Competition, Opportunity and Forecast, 2018-2028Ff", the market is anticipated to grow with the rapid CAGR in the upcoming years.

Ride hailing is the term used to describe the process of reserving, controlling, and paying for a service. A smartphone app that makes use of different transportation networks is used for ride hailing. The ride hailing service is a third-party service that connects a rider with a car via a smartphone and an intelligent platform, allowing them to benefit from riding. When a rider downloads the ride hailing software on their smartphone, GPS navigation technology is used to instantaneously locate the pickup location. Once the rider detects that the local services owner obtains signal on their smartphone, bookings for ride hailing transportation to the appropriate destination point can be made.

The market for Middle East and Africa ride-hailing services is expanding significantly as a result of the presence of important players in new regions and rising consumer usage due to convenience and comfort. The desire of consumers to avoid the high up-front costs of car ownership and maintenance, as well as the growing amount of traffic and scarcity of parking spots, are what driving the rise of the Middle East and Africa market. Rising urbanisation and smart city efforts are propelling the ride hailing market forward, resulting in higher demand for upgraded solutions with improved connection and performance. The rise of electric vehicles for more pleasant and environmentally friendly transportation at a cheaper cost is creating opportunities for the ride hailing business.

The emergence of new technology and market players in the market is broadening the consumer base and facilitating the market growth. The growing affordability of smartphones and internet penetration is increasing the reliance on digital solutions across a wide range of industries, including ride-hailing services. The growing consumer share of millennials and generation Z is shifting overall consumer statistics away from traditional services and towards ride-hailing, fuelling Middle East and Africa market growth. The market is expected to grow due to an increase in demand for luxury car services at affordable prices, particularly among millennials. Most millennials avoid purchasing cars in order to save money on ownership, maintenance, fuel, and road tax. The increased use of public transportation helps to alleviate traffic congestion and is proving beneficial for environment.

Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on "Middle East and Africa Ride Hailing Market"

The Middle East market can be segmented based on Service type, by Vehicle type, by End User, by Propulsion Type and by Country. By Service type, the market is divided into shared and rental type. The Shared segment dominates the service type market due to the consumers suitability. By vehicle type, the market is segmented into two wheeler, three wheeler and passenger car. Among them, passenger car had the biggest market share in vehicle type category. The passenger car is used for daily commute; however, two-wheeler shared mobility is gaining a momentum in shared mobility due to its cost effectiveness. By end user, the market is segmented into two categories, Institutional and Personal. Among them, the personal category is having the biggest share due to the presence of the mobile app for booking for the personal travel. By Propulsion type, the market is divided into ICE and Electric. In this segment the market is dominated by ICE because of the presence of the ICE vehicles in the region. Furthermore, the electric vehicle usage is gaining momentum due to the global sustainability and emission goals of the Middle East and Africa region.

Some of the major players operating in the Middle East and Africa Ride Hailing Market include:

  • Careem Networks FZ LLC,
  • Telgani Holding Inc,
  • Bolt Technology OÜ 
  • Udrive Rent a Car LLC,
  • MNT Halan
  • Swvl, Inc
  • inDriver Holdings Inc,
  • Ekar Carshare LLC,
  • Moove Vehicle Limited
  • Urent, LLC

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“Many companies are investing in the ride hailing market due to the growing consumer preference, increasing internet penetration, and cost effectiveness for daily commute to their workplace. Moreover, many new emerging players are entering the ride hailing market due to growing tourism and lack of transportation network. These factors are further boosting the growth of Middle East and Africa Ride Hailing market, "said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Middle East & Africa Ride Hailing Market By Service Type (Shared, Rental), By Vehicle (Two-Wheeler, Three Wheeler, Passenger Car), By End User (Institutional, Personal), By Propulsion Type (ICE, Electric) By Region Competition Forecast & Opportunities, 2018- 2028F, has evaluated the future growth potential of Middle East and Africa Ride Hailing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Middle East and Africa Ride Hailing Market.

Mr. Ken Mathews
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Middle East & Africa Ride Hailing Market By Service Type (Shared, Rental), By Vehicle (Two-Wheeler, Three Wheeler, Passenger Car), By End User (Institutional, Personal), By Propulsion Type (ICE, Electric) By Region, Competition Forecast & Opportunities, 2018- 2028F

Automotive | May, 2023

The rapid increase in urbanization, consumer preference for daily commute, and rising focus on emerging players are factors driving the growth of Middle East & Africa Ride Hailing market in the forecast period 2024-2028.

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