BASINGSTOKE, England, Dec 13 (Bernama-BUSINESS WIRE) -- A new study by Juniper Research has found ride sharing spending by consumers globally will exceed $937 billion by 2026, comparable to 50 times the combined annual revenue of Transport for London, New York City’s MTA, and Beijing Metro in 2021. This spend represents an increase from $147 billion in 2021 and total growth of 537% over the next 5 years.
The concept of ride sharing involves users accessing single-occupancy and shared carpool-style services provided by private drivers operating their own vehicles; coordinated by platforms such as Lyft and Uber.
The research identified consumers in the US and China as leading global spend on ride sharing services; accounting for 65% of market value in 2026. It highlighted future government initiatives to reduce private vehicle usage in cities, allied with a strong pandemic recovery, as key to these countries’ positions as leaders.
JUNIPER RESEARCH: RIDE SHARING SPEND BY CONSUMERS TO EXCEED $930 BILLION GLOBALLY BY 2026; DRIVEN BY STRONG COVID-19 RECOVERY & REDUCED PRIVATE VEHICLE USAGE
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