Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 55 Billion

CAGR (2023-2028)

5.93%

Fastest Growing Segment

Passenger Car

Largest Market

Russia


Market Overview

Europe & CIS Ride hailing market has valued at USD 55 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.93%. The ride-hailing market in Europe and the Commonwealth of Independent States (CIS) has experienced remarkable growth and transformation over the past decade. This growth has been driven by numerous factors, including the increasing urbanization of cities, the widespread adoption of smartphones, and the rising demand for safe, accessible, and cost-effective transportation options.

The entry of prominent service providers like Uber, Bolt, and Gett has revolutionized the industry, completely changing the way people travel. Gone are the days of waiting on street corners for a taxi – now, with just a few taps on a smartphone, users can easily request a ride and be on their way.

One of the key advantages of ride-hailing platforms is their convenience and user-friendliness. With app-based services, users have access to a range of transportation options at their fingertips. They can choose the type of vehicle they prefer, track their driver in real-time, and even pay for their ride electronically, eliminating the need for cash transactions.

While the ride-hailing market has experienced impressive growth, it is not without its challenges. Regulatory hurdles and intense competition pose significant obstacles to the industry's further expansion and development. However, despite these challenges, the CIS region has emerged as a particularly thriving area for ride-hailing services. Local platforms have gained popularity and are successfully competing with international players, offering unique features and tailored services to cater to the specific needs of the region.

The continuous evolution of the ride-hailing market in Europe and the CIS region highlights the dynamic nature of this industry. As technology continues to advance and consumer preferences evolve, it will be fascinating to see how the market further transforms and adapts to meet the changing needs of users. The future holds endless possibilities, with potential advancements in electric and autonomous vehicles, as well as the integration of additional services such as food delivery and package transportation.

In conclusion, the ride-hailing market in Europe and the CIS region has experienced remarkable growth and transformation, driven by factors such as urbanization, smartphone usage, and the demand for convenient transportation. Despite challenges, the industry continues to thrive and adapt, promising an exciting future of innovation and improved mobility for users.              

Key Market Drivers

Urbanization and Population Density

The European and CIS regions, encompassing countries like France, Germany, Russia, and Ukraine, are home to some of the world's most densely populated cities. With rapid urbanization and the continuous influx of people into major urban centers, the demand for efficient and convenient transportation solutions has become increasingly prominent. In response to this growing need, ride-hailing services have emerged as a viable and popular alternative to traditional taxis and public transportation. These innovative services leverage technology to connect urban dwellers with reliable and on-demand transportation options, providing them with greater convenience and flexibility in their daily commuting. By seamlessly bridging the gap between supply and demand, ride-hailing services have revolutionized urban transportation, ensuring that people can easily navigate the bustling cities and reach their destinations in a timely and hassle-free manner.

Smartphone Penetration

The widespread adoption of smartphones across Europe and CIS countries has been a pivotal driver of the ride-hailing market. These devices serve as the primary means through which users access ride-hailing platforms. The ease of booking rides, tracking drivers, and making payments through mobile apps has made ride-hailing an integral part of urban mobility.

Changing Consumer Preferences

Consumer preferences are continuously evolving, reflecting a strong inclination towards on-demand and shared mobility solutions. The rise of ride-hailing services perfectly aligns with this evolving landscape, satisfying the modern consumer's desire for convenience, flexibility, and affordability. With ride-hailing, individuals can choose from a wide range of ride options tailored to their specific needs. Whether it's a standard ride for a quick trip, a premium service for a touch of luxury, or a shared ride to save costs and reduce carbon footprint, there is an option to suit every preference. This diverse selection of ride choices ensures that consumers can enjoy personalized transportation experiences that cater to their unique requirements and preferences.

Regulatory Framework

Regulatory support or constraints play a critical and influential role in shaping the growth trajectory of the ride-hailing industry. Across various European and CIS countries, we observe the implementation of favorable regulations that not only accommodate ride-hailing platforms but also foster a fair competition landscape alongside traditional taxi services. However, it is important to note that regulatory environments can vary significantly throughout the region, with certain markets encountering unique legal challenges and navigating diverse regulatory hurdles. These variations necessitate careful consideration and adaptation to ensure the sustained success and expansion of ride-hailing services in different jurisdictions.

Partnerships and Integration

Ride-hailing companies are forging partnerships and integrating with other mobility service providers to offer comprehensive transportation solutions. These collaborations extend beyond ride-hailing and encompass services like food delivery, micro-mobility (e-scooters and e-bikes), and public transit integration. Such integrations create seamless and multi-modal transportation experiences for users.

Electric and Sustainable Mobility

The focus on sustainability and reducing carbon emissions is encouraging the adoption of electric vehicles (EVs) in ride-hailing fleets. Some companies are actively promoting the use of electric or hybrid vehicles, contributing to environmental goals and aligning with evolving consumer preferences for eco-friendly transportation options. Incentives and subsidies from governments and cities further drive the adoption of EVs in ride-hailing services.  

 

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Key Market Challenges

Regulatory Variability and Complexities

One of the foremost challenges in the Europe and CIS ride-hailing market is the regulatory landscape, which varies greatly from one country and city to another. While some countries have embraced ride-hailing services and implemented supportive regulations, others have imposed stringent requirements or outright bans. Navigating this patchwork of regulations presents a formidable challenge for ride-hailing companies, often requiring substantial resources for compliance efforts and legal battles. Ensuring compliance with local laws and regulations while maintaining operational efficiency is an ongoing challenge.

Competition and Price War

The ride-hailing industry in Europe and CIS is characterized by intense competition, with numerous companies vying for market share. This competition has led to price wars and heavy subsidies, especially in the early stages of market development. While subsidies can attract riders, they can also strain company finances and create unsustainable pricing models. Maintaining a balance between affordability for users and profitability for ride-hailing platforms is a continuous challenge.

Safety Concerns and Regulatory Compliance

Ensuring the safety of passengers and drivers is a critical challenge. High-profile incidents involving ride-hailing drivers have raised concerns about background checks and driver screening processes. Regulators and users alike are demanding stricter safety measures and more comprehensive driver vetting. Achieving and maintaining robust safety standards across diverse markets is a complex undertaking that requires ongoing investment in technology, training, and compliance.

Labor and Driver Issues

Ride-hailing drivers often work as independent contractors, and their status has been a subject of legal disputes in some European countries. Court rulings in favor of drivers being classified as employees could significantly impact the cost structure of ride-hailing companies, potentially leading to higher expenses related to benefits, minimum wages, and social security contributions. Balancing driver relations and addressing concerns related to pay, benefits, and working conditions is an ongoing challenge for the industry.

Infrastructure and Congestion

Many European cities grapple with traffic congestion and infrastructure limitations. While ride-hailing services can alleviate some congestion by promoting shared rides and reducing the need for personal vehicle ownership, they can also contribute to urban traffic when not managed effectively. Ride-hailing companies must work with cities and municipalities to integrate their services into broader urban transportation planning, address congestion, and promote sustainable mobility.

Data Privacy and Security

The collection and use of user data in ride-hailing applications raise significant data privacy and security concerns. Ensuring the protection of user information from breaches and misuse is essential for maintaining trust. Compliance with the European Union's General Data Protection Regulation (GDPR) and similar data protection laws in CIS countries adds complexity to data handling practices. Striking a balance between offering personalized services and safeguarding user privacy is a continual challenge.   

Key Market Trends

Multi-Modal Integration

One prominent trend in the Europe and CIS ride-hailing market is the integration of multi-modal transportation options within ride-hailing apps. To address the "last-mile" challenge and provide comprehensive mobility solutions, ride-hailing platforms are partnering with public transportation providers, bike-sharing services, and even scooter-sharing companies. This integration allows users to plan and pay for various modes of transportation seamlessly through a single app. It not only enhances convenience for riders but also contributes to reducing urban congestion and promoting sustainable mobility.

Electric Vehicle Adoption

The shift towards sustainability is becoming increasingly evident in the ride-hailing sector. Many companies are actively promoting the use of electric and hybrid vehicles within their fleets. This trend aligns with broader environmental goals and responds to growing customer demand for eco-friendly transportation options. Governments and cities across Europe and CIS are also incentivizing electric vehicle adoption through subsidies, charging infrastructure development, and emissions regulations. As a result, an increasing number of ride-hailing platforms are transitioning to electric fleets, contributing to reduced emissions and cleaner urban air.

Micro-Mobility Integration

The rise of micro-mobility solutions, such as e-scooters and e-bikes, has opened new avenues for ride-hailing companies. Many platforms have integrated these micro-mobility options into their apps, allowing users to access and pay for shared e-scooters and bikes for shorter trips. This trend complements the "last-mile" concept, offering users more choices for efficient and cost-effective transportation within cities. It also aligns with the growing demand for sustainable urban mobility.

Autonomous Vehicle Development

While the widespread adoption of autonomous vehicles in ride-hailing fleets is still on the horizon, Europe and CIS are emerging as hubs for autonomous vehicle testing and development. Ride-hailing companies are actively investing in autonomous vehicle technology and partnerships with autonomous vehicle manufacturers and tech firms. The development of self-driving vehicles has the potential to revolutionize the ride-hailing industry, offering cost-effective and efficient services while addressing driver-related challenges and enhancing safety.

Focus on Safety and Trust

Safety has become a top priority for ride-hailing companies, driven by high-profile incidents and increasing scrutiny. To address safety concerns and build trust among users, platforms are implementing enhanced safety features and initiatives. These include real-time tracking, SOS buttons, in-app emergency services, and stringent driver screening and background checks. Improving safety measures not only ensures a secure environment for riders but also helps companies maintain a positive brand image and regulatory compliance.

Diversification of Services

Ride-hailing platforms are diversifying their services to offer more than just transportation. Food delivery, courier and logistics services, and even financial products like digital wallets and insurance are becoming integral parts of their ecosystems. This diversification not only increases revenue streams but also enhances user engagement and loyalty. Users can access a range of services through a single app, fostering loyalty and reducing the need for multiple apps for different needs.    

Segmental Insights

Material Type Insights

The Europe & CIS ride-hailing market has experienced remarkable growth over the past few years. This growth can be attributed to several factors, including the widespread adoption of digital platforms, the improvement of internet connectivity, and the ongoing process of urbanization in the region. As more and more people rely on ride-hailing services for their transportation needs, service providers are constantly striving to innovate and enhance the overall user experience and safety.

To meet the increasing demand, ride-hailing companies have been introducing new features and technologies, such as real-time tracking and driver ratings, to provide a seamless and secure experience for passengers. These advancements not only improve convenience but also contribute to the overall efficiency of urban transportation systems. By leveraging data and analytics, ride-hailing platforms are able to optimize routes, reduce congestion, and minimize environmental impact.

However, it's important to note that the regulatory frameworks governing ride-hailing services vary significantly across the region. Different countries and cities have their own set of rules and requirements, which can impact the operations and growth of ride-hailing companies. Governments and authorities are continuously working to strike a balance between promoting innovation and ensuring passenger safety. This dynamic regulatory landscape adds an additional layer of complexity to the ride-hailing industry, forcing companies to navigate through a patchwork of regulations.

Despite these challenges, the ride-hailing industry continues to evolve and adapt to the changing landscape. New players are entering the market, offering specialized services and expanding into untapped areas. Partnerships with public transportation systems are being formed to create integrated mobility solutions. In addition, advancements in autonomous vehicle technology are on the horizon, which could further revolutionize the way people travel within cities.

Vehicle Type Insights

The Europe & CIS ride-hailing market is incredibly diverse when it comes to vehicle options. From budget-friendly economy vehicles to high-end luxury cars, there is something to suit every preference. Economy vehicles have gained immense popularity due to their affordability and accessibility. These cars are not only cost-effective but also fuel-efficient, making them ideal for urban travel where narrow streets and limited parking spaces are common.

On the other hand, luxury vehicles offer a premium ride-hailing experience with their high-end amenities and superior comfort. They are often the preferred choice for important business meetings or special occasions where making a lasting impression is crucial.

In recent years, there has been a rising demand for environmentally-friendly options in the ride-hailing market. Electric and hybrid cars are gaining traction, driven by growing consumer awareness about sustainability and the impact of carbon emissions on the environment. These eco-friendly alternatives provide a greener transportation option without compromising on style or performance.

With such a wide range of vehicle types available, the Europe & CIS ride-hailing market ensures that customers can choose the perfect ride to suit their needs and preferences, whether it's a budget-friendly option, a luxury experience, or an environmentally-conscious choice.  

 

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Regional Insights

The Europe & CIS ride-hailing market is on the cusp of significant growth, driven by a convergence of evolving consumer preferences and rapid technological advancements. In major European cities, ride-hailing services have garnered widespread adoption, owing to the ever-increasing urbanization and the soaring need for convenience in today's fast-paced world. Furthermore, the regulatory landscape in the region is progressively becoming more receptive to digital ride-hailing platforms, thereby providing an additional impetus to the expansion of this market.

In CIS countries, ride-hailing services are witnessing a remarkable surge in popularity, despite encountering certain regulatory challenges. This remarkable growth can be attributed to the escalating penetration of smartphones and the increasing accessibility of the internet in these regions. As more and more individuals gain access to smartphones and the internet, the demand for seamless and convenient transportation options continues to soar, creating a highly favorable environment for ride-hailing platforms to thrive and flourish.

Looking ahead, the future of the Europe & CIS ride-hailing market holds immense promise, fueled by the interplay of shifting consumer preferences, relentless technological innovation, and the advent of favorable regulatory developments. This expansion is expected to usher in new opportunities and further transform the transportation landscape in these regions, effectively opening doors to unprecedented levels of convenience and accessibility for commuters. With every passing day, the ride-hailing industry is poised to redefine the way people travel, enhancing mobility and making transportation more efficient and seamless than ever before.

Recent Developments

  • In January 2021, Uber Technologies Inc. partnered with EVgo to provide EV charging discounts to the drivers for around 800+ cities in the United States.
  • In May 2021, The GrabPet XL and GrabCar Exec services will provide more options for Grab passengers with different mobility requirements while expanding earning opportunities for eligible driver-partners.

Key Market Players

  • Didi Chuxing Technology Co.
  • Uber Technologies Inc.
  • Lyft Inc.
  • Grab Holdings Inc.
  • Free now (Daimler)
  • BlaBla Car
  • ANI Technologies Pvt. Ltd
  • FastGo Vietnam JSC
  • ZuumViet
  • Be Group JSC

By Type

By Car Sharing

By Service

By Vehicle Type

By Country

  • E-hailing
  • Station-Based
  • Car Sharing
  • Rental
  • P2P
  • Corporate
  • Navigation
  • Payment
  • Information
  • Passenger Cars
  • Two-Wheeler
  • Germany
  • Spain 
  • France
  • Russia
  • Italy
  • United Kingdom
  • Belgium

 

Report Scope:

In this report, the Europe & CIS Ride hailing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Ride hailing market, By Type:    

o   E-hailing

o   Station-Based

o   Car Sharing

o   Rental

  • Ride hailing market, By Car Sharing: 

o   P2P

o   Corporate

  • Ride hailing market, By Service:  

o   Navigation

o   Payment

o   Information

  • Ride hailing market, By Vehicle Type:  

o   Passenger Cars

o   Two-Wheeler

  • Ride hailing market, By Country:  

o   Germany

o   Spain

o   France

o   Russia

o   Italy

o   United Kingdom

o   Belgium

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Europe & CIS Ride hailing market.

Available Customizations:

Europe & CIS Ride hailing market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Europe & CIS Ride hailing market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Europe & CIS Ride hailing market

5.    Voice of Customer Analysis

5.1.  Brand Awareness

5.2.  Brand Satisfaction

5.3.  Factors Affecting Purchase Decision

6.    Europe & CIS Ride hailing market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Volume & Value

6.2.  Market Share & Forecast

6.2.1.    By Type Market Share Analysis (E-hailing, Station-Based, Car Sharing & Rental)

6.2.2.    By Car Sharing Market Share Analysis (P2P, Corporate)

6.2.3.    By Service Market Share Analysis (Navigation, Payment, Information)

6.2.4.    By Vehicle Type Market Share Analysis (Passenger Cars, Two-Wheeler)

6.2.5.    By Country Market Share Analysis    

6.2.5.1.        Germany Market Share Analysis

6.2.5.2.        Spain Market Share Analysis

6.2.5.3.        France Market Share Analysis

6.2.5.4.        Russia Market Share Analysis

6.2.5.5.        Italy Market Share Analysis

6.2.5.6.        United Kingdom Market Share Analysis

6.2.5.7.        Belgium Market Share Analysis

6.2.5.8.        Rest of Europe Market Share Analysis

6.2.6.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

6.3.  Europe & CIS Ride hailing market Mapping & Opportunity Assessment

6.3.1.    By Type Market Mapping & Opportunity Assessment  

6.3.2.    By Car Sharing Market Mapping & Opportunity Assessment

6.3.3.    By Service Market Mapping & Opportunity Assessment  

6.3.4.    By Vehicle Type Market Mapping & Opportunity Assessment  

6.3.5.    By Country Market Mapping & Opportunity Assessment

6.3.6.    China Ride hailing market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Volume & Value

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Type Market Share Analysis  

6.3.6.2.2.           By Car Sharing Market Share Analysis

6.3.6.2.3.           By Service Market Share Analysis

6.3.6.2.4.           By Vehicle Type Market Share Analysis

6.3.7.    Germany Ride hailing market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Volume & Value

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Type Market Share Analysis 

6.3.7.2.2.           By Car Sharing Market Share Analysis

6.3.7.2.3.           By Service Market Share Analysis

6.3.7.2.4.           By Vehicle Type Market Share Analysis

6.3.8.    Spain Ride hailing market Outlook

6.3.8.1.        Market Size & Forecast

6.3.8.1.1.           By Volume & Value

6.3.8.2.        Market Share & Forecast

6.3.8.2.1.           By Type Market Share Analysis 

6.3.8.2.2.           By Car Sharing Market Share Analysis

6.3.8.2.3.           By Service Market Share Analysis

6.3.8.2.4.           By Vehicle Type Market Share Analysis

6.3.9.    France Ride hailing market Outlook

6.3.9.1.        Market Size & Forecast

6.3.9.1.1.           By Volume & Value

6.3.9.2.        Market Share & Forecast

6.3.9.2.1.           By Type Market Share Analysis 

6.3.9.2.2.           By Car Sharing Market Share Analysis

6.3.9.2.3.           By Service Market Share Analysis

6.3.9.2.4.           By Vehicle Type Market Share Analysis

6.3.10. Russia Ride hailing market Outlook

6.3.10.1.     Market Size & Forecast

6.3.10.1.1.         By Volume & Value

6.3.10.2.     Market Share & Forecast

6.3.10.2.1.         By Type Market Share Analysis 

6.3.10.2.2.         By Car Sharing Market Share Analysis

6.3.10.2.3.         By Service Market Share Analysis

6.3.10.2.4.         By Vehicle Type Market Share Analysis

6.3.11. Italy Ride hailing market Outlook

6.3.11.1.     Market Size & Forecast

6.3.11.1.1.         By Volume & Value

6.3.11.2.     Market Share & Forecast

6.3.11.2.1.         By Type Market Share Analysis 

6.3.11.2.2.         By Car Sharing Market Share Analysis

6.3.11.2.3.         By Service Market Share Analysis

6.3.11.2.4.         By Vehicle Type Market Share Analysis

6.3.12. United Kingdom Ride hailing market Outlook

6.3.12.1.     Market Size & Forecast

6.3.12.1.1.         By Volume & Value

6.3.12.2.     Market Share & Forecast

6.3.12.2.1.         By Type Market Share Analysis 

6.3.12.2.2.         By Car Sharing Market Share Analysis

6.3.12.2.3.         By Service Market Share Analysis

6.3.12.2.4.         By Vehicle Type Market Share Analysis

6.3.13. Belgium Ride hailing market Outlook  

6.3.13.1.     Market Size & Forecast

6.3.13.1.1.         By Volume & Value

6.3.13.2.     Market Share & Forecast

6.3.13.2.1.         By Type Market Share Analysis 

6.3.13.2.2.         By Car Sharing Market Share Analysis

6.3.13.2.3.         By Service Market Share Analysis

6.3.13.2.4.         By Vehicle Type Market Share Analysis

7.    SWOT Analysis

7.1.  Strength

7.2.  Weakness

7.3.  Opportunities

7.4.  Threats

8.    Market Dynamics

8.1.  Market Drivers

8.2.  Market Challenges

9.    Market Trends and Developments

10. Competitive Landscape

10.1.           Company Profiles (Up to 10 Major Companies)

10.1.1. Didi Chuxing Technology Co.

10.1.1.1.     Company Details

10.1.1.2.     Key Product Offered

10.1.1.3.     Recent Developments

10.1.1.4.     Key Management Personnel

10.1.2. Uber Technologies Inc.

10.1.2.1.     Company Details

10.1.2.2.     Key Product Offered

10.1.2.3.     Recent Developments

10.1.2.4.     Key Management Personnel

10.1.3. Lyft Inc.  

10.1.3.1.     Company Details

10.1.3.2.     Key Product Offered

10.1.3.3.     Recent Developments

10.1.3.4.     Key Management Personnel

10.1.4. Grab Holdings Inc.

10.1.4.1.     Company Details

10.1.4.2.     Key Product Offered

10.1.4.3.     Recent Developments

10.1.4.4.     Key Management Personnel

10.1.5. Free now (Daimler)   

10.1.5.1.     Company Details

10.1.5.2.     Key Product Offered

10.1.5.3.     Recent Developments

10.1.5.4.     Key Management Personnel

10.1.6. BlaBla Car     

10.1.6.1.     Company Details

10.1.6.2.     Key Product Offered

10.1.6.3.     Recent Developments

10.1.6.4.     Key Management Personnel

10.1.7. ANI Technologies Pvt. Ltd     

10.1.7.1.     Company Details

10.1.7.2.     Key Product Offered

10.1.7.3.     Recent Developments

10.1.7.4.     Key Management Personnel

10.1.8. FastGo Vietnam JSC       

10.1.8.1.     Company Details

10.1.8.2.     Key Product Offered

10.1.8.3.     Recent Developments

10.1.8.4.     Key Management Personnel

10.1.9. ZuumViet       

10.1.9.1.     Company Details

10.1.9.2.     Key Product Offered

10.1.9.3.     Recent Developments

10.1.9.4.     Key Management Personnel

10.1.10.              Be Group JSC        

10.1.10.1.  Company Details

10.1.10.2.  Key Product Offered

10.1.10.3.  Recent Developments

10.1.10.4.  Key Management Personnel

11. Strategic Recommendations

11.1.           Key Focus Areas

11.1.1. Target Countries

11.1.2. Target By Material

11.1.3. Target By Vehicle Type

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Europe & CIS Ride hailing market was estimated to be USD 55 Billion in 2022.

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In 2022, the dominant segment by vehicle type in the Europe & CIS ride-hailing market was the passenger vehicle segment. The convenience and cost-effectiveness of these vehicles in urban and suburban areas have made them the preferred choice for consumers, leading to their dominance in the market.

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Russia is the dominant country in the Europe & CIS region's ride-hailing market. With the widespread use of services like Yandex.Taxi and Gett, Russia has been at the forefront of the ride-hailing industry's growth in this region.

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The major drivers for the Europe & CIS ride-hailing market include urbanization and population density in major cities, increasing smartphone penetration, and the growing preference for convenient and cost-effective transportation options. These factors have contributed to the rapid adoption of ride-hailing services across the region.

profile

Srishti Verma

Business Consultant
Press Release

Ride hailing market to Grow with a CAGR of 5.93% in Europe & CIS through to 2028

Nov, 2023

The major drivers for the Europe & CIS ride-hailing market include urbanization and population density in major cities, increasing smartphone penetration, and the growing preference for convenient an