United States Ride Share Market

Goals

To obtain the total addressable market, revenue, growth rate, and major players for the rideshare industry in the United States.

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 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:

You need to be the project owner to select a next step.
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.