BOSTON–(BUSINESS WIRE)–Apr 15, 2021–
Strategy Analytics’Automotive Connected Mobility service has unveiled its H1 2021 Global Ride-Hailing Market Update and its associated Global Ride-Hailing Forecast, tracking more than 140 unique operators across 119 different countries. Although 2020 was tough for ride-hailing operators everywhere, with a decline of 18% in worldwide total revenue (gross bookings) across the sector, Strategy Analytics’ global-ride hailing report and forecast comes on the heels of Uber’s April 12 announcement that March 2021 was the company’s best month ever in terms of total gross company-wide bookings. A rebound is clearly in sight, but the landscape remains forever changed as many operators have turned to the delivery sector as the key to long-term growth.
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Figure 1. Global Ride Hailing Active Driver and Total Revenue Forecast, 2020 through 2025 (Source: Strategy Analytics Inc.)
As the COVID-19 pandemic swept across the world in the first half of 2020, global-ride hailing companies struggled to cope, with major ride-hailing operators like Uber, Lyft, Bolt, Careem, DiDi, Free Now, Grab, Gojek, Ola, Yandex, and more announcing precipitous declines in ride volume. Major ride-hailing operators adapted with large scale layoffs, new fundraising rounds, and pandemic-related initiatives such as…