. . . In the report, ABI Research analyzed the number of ride-hailing trips completed by users in different regions and evaluated market shares for each region. The results showed that just more than 70% of ride-hailing trips were completed in Asia alone, with the next biggest markets being North America and Latin America, with only 5% of trips being completed in Western Europe due to stricter regulation.
The sheer size of the Asian ride-hailing market has prompted numerous companies, both local and foreign, to try and establish a foothold in the local markets. In direct contrast to Western Europe and North America, vehicle ownership is relatively low in Asian markets due to the large expense and impracticality for consumers in large cities. This has spurred the growth of dynamic ride-hailing services, where the average cost of a trip can be as low as US$0.10 per mile. This low cost combined with a favorable regulatory environment has really helped foster the use of ride-hailing services.
—Shiv Patel, Research Analyst at ABI Research
It hasn’t been all success stories for those operating in Asia, however. Some foreign companies, such as Uber, have struggled in the region, leading to its exit out of China and South-East Asia. Uber’s withdrawal from the region, however, has helped create extra opportunities for local players, as they look to establish themselves and expand within the region and globally.
Didi Chuxing has used Uber’s exit to establish a strong leading market position in China, with more than 90% market share of the largest ride-hailing market in the world.
Players in South-East Asia such as GO-JEK and Grab have used the withdrawal of Uber to step up investment and expansion in the area. Ride-hailing in Indonesia, the largest market in South-East Asia and the fourth largest market ride-hailing globally, after China, India and the United States, has recently seen fierce competition driven by increasing investment and expansion in the country. . . .
However, Uber still has a strong market share in India, the third-largest ride-hailing market globally. Uber was found to have a 46% market share in the country, just behind local rival Ola Cabs, who recently announced it was taking on Uber in the U.K, one of Uber’s strongest markets.
direct link to report (behind a paywall, but ToC shown): https://www.abiresearch.com/market-research/product/1030773-vehicle-and-mobility-market-data/