What’s Next for Europe in the Global Ride-Hailing Race?
According to a report by Statista, the European ride-hailing market has been substantially growing and is anticipated to continue its growth in the coming years as well.
Companies such as Uber, Didi, OLA, Lyft, etc. were dominating the ride-sharing market before 2020 covering most of the European ride-hailing market.
The revenue of the European ride-hailing market was US$14.99 billion in 2019, which took a hit and went down to US$9.76 billion in 2020, due to the pandemic Covid-19.
After Covid-19, companies like Laka, Bolt, Free Now, Zity, Cabify, etc. emerged in Europe as some of the best ride-hailing companies.
Between 2021 to 2024, the ride-hailing market showed steady growth and grew from US$13.36 billion to US$19.44 billion respectively.
It is expected to reach US$23.86 billion by the year 2029 in Europe.
These stats showcase a steady growth in the European ride-hailing market and a lot of new businesses emerging and finding new opportunities to grow in the European ride-hailing industry.
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More details on Yelowsoft's https://www.yelowsoft.com/blog..../what-next-for-europ We are an all-in-one cloud based taxi booking and dispatch software company. We help taxi businesses to find solutions for their business challenges.
