United States Ride Share Market
To obtain the total addressable market, revenue, growth rate, and major players for the rideshare industry in the United States.
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.
- The two most significant players in the United States ride share industry are Uber and Lyft.
- Globally, key players in the market "include GRAB, Uber, and Didi Chuxing among others".
- Uber's global net revenue is $11,300,000,000.
- Lyft's global net revenue is $2,16,000,000.
- As of August 2019, Uber 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 Uber or Lyft is shared amongst the remaining companies operating in the industry.
- This is a slight decline in market share for Uber, which represented 74 percent of the industry just two years ago, in September 2017.
- Alternatively, Lyft's share of the market has been growing, from 22 percent in September 2017.
Proposed next steps:
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As our initial research has successfully identified the two major players in the United States ride share market, we would recommend continued research to provide a competitive landscape of these two companies.
Additionally, we would recommend continued research to identify the top six players in the global ride share market, and to provide a competitive landscape of these six companies.