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Research Outline
Prepared for John B. | Delivered September 30, 2019
United States Ride Share Market
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Goals
To obtain the total addressable market, revenue, growth rate, and major players for the rideshare industry in the United States.
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Early Findings
INDUSTRY MARKET SIZE
Globally, the ride sharing market is anticipated to reach a market size of
$11,940,000,000 by 2025
, with "
a CAGR
of 7.5 percent during the forecast period".
In 2017, the North American segment of the short-distance ride sharing market "
was valued
at USD 1.04 billion".
The global ride sharing market is expected to experience a growth rate of
more than 20 percent
between 2019 and 2025.
In the United States, the
ride hailing market
has an anticipated revenue of $49,598,000 for 2019.
This amounts to an average revenue per user (ARPU) of
$750.10
in the United States.
Currently, the industry has a United States user base of
66,100,000 people
, representing market penetration of 20.1 percent.
MAJOR PLAYERS
The two most significant players in the United States ride share industry are
U
b
e
r
and
L
y
f
t
.
Globally, key players in the market "
include
GRAB,
U
b
e
r
, and Didi
C
h
u
x
i
n
g
among others".
U
b
e
r
's global net revenue is
$11,300,000,000
.
L
y
f
t
's global net revenue is
$2,16,000,000
.
As of August 2019
,
U
b
e
r
dominated 71.1 percent of the United States ride share market, compared to Lyft's 27.2 percent.
The
remaining 1.7 percent
of the market not represented by
U
b
e
r
or
L
y
f
t
is shared amongst the remaining companies operating in the industry.
This is a slight decline in market share for
U
b
e
r
, which represented
74 percent
of the industry just two years ago, in September 2017.
Alternatively,
L
y
f
t
's share of the market has been growing, from
22 percent
in September 2017.
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