Middle East & Africa Ride Hailing Market to Grow with a CAGR of 16.18% through 2029
The Middle East
and Africa ride-hailing market is witnessing trends such as the integration of
electric vehicles and micro-mobility services, responding to a global shift
towards sustainable transportation.
According to
TechSci Research report, “Middle East & Africa Ride Hailing Market -
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029”, the Middle East & Africa Ride Hailing Market stood at USD 1,472.83
Million in 2023 and is anticipated to grow with a CAGR of 16.18% in the
forecast period, 2025-2029. The Middle East and Africa ride-hailing market has
witnessed substantial growth and transformation in recent years, driven by a
combination of urbanization, increased smartphone penetration, and a rising
need for convenient transportation solutions. Key players such as Uber, Careem,
Bolt, and local services have established a strong presence across various
countries within the region. These platforms offer users the convenience of
booking rides through mobile apps, facilitating cashless transactions, and
providing real-time tracking features.
In the Middle
East, countries like Saudi Arabia and the United Arab Emirates (UAE) have
emerged as prominent markets for ride-hailing services. Both international and
local players operate in these regions, offering a range of ride options from
economical to premium, catering to diverse consumer preferences. The regulatory
environment in these countries has evolved to accommodate ride-hailing
services, recognizing their role in addressing transportation challenges.
In Africa,
ride-hailing services play a crucial role in rapidly growing urban centers,
providing an alternative to traditional taxis and often contributing to
improved traffic management. In countries like Nigeria, Kenya, and South
Africa, local platforms have gained traction by adapting their services to the
unique needs and challenges of each market. Additionally, the use of
two-wheelers, such as motorcycles and scooters, has become a notable trend in
some African countries, addressing last-mile connectivity and local mobility
demands.
Challenges in
the MEA ride-hailing market include regulatory complexities, competition among
service providers, safety concerns, and economic factors such as fuel price
fluctuations. Infrastructure limitations, especially in certain African
regions, present obstacles to efficient ride-hailing operations. Despite these
challenges, the industry continues to evolve, with a focus on innovation,
safety enhancements, and partnerships with local authorities to create a more
sustainable and user-friendly transportation ecosystem.
Browse over XX market
data Figures spread through 83 Pages and an in-depth TOC on " Middle East & Africa Ride Hailing Market.”
North Africa,
Egypt stands out as a significant player in the ride-hailing market. The
country's dense and rapidly expanding urban areas, particularly Cairo, have
fueled the growth of services like Uber and local providers like SWVL. The
Economy segment dominates the market, addressing the diverse needs of a large
population seeking affordable transportation solutions. The Egyptian
government's relatively open approach to ride-hailing services aligns with
their potential to alleviate traffic congestion in bustling metropolitan
regions.
Sub-Saharan
Africa presents a diverse ride-hailing landscape, with countries like Nigeria,
Kenya, and South Africa emerging as key markets. Local players, including Bolt
(formerly Taxify) and local innovations like Gozem, have tailored their
services to address unique transportation challenges. The adoption of
motorcycles and scooters for ride-hailing purposes is a notable trend,
particularly in areas with limited infrastructure. These markets often showcase
a blend of traditional and modern transportation methods, with ride-hailing
services playing a crucial role in shaping urban mobility.
While each
region has its unique dynamics, common challenges persist. Regulatory
complexities, varying from country to country, pose obstacles for ride-hailing
platforms operating across borders. Safety concerns regarding both passengers
and drivers are paramount, prompting a need for stringent measures and
collaboration with local authorities. Economic factors, such as fluctuating
fuel prices and competition among service providers, impact the overall
viability of ride-hailing operations. Infrastructure limitations, especially in
certain African regions, present operational challenges and highlight the need
for innovative solutions to navigate diverse landscapes.
Major companies
operating in Middle East & Africa Ride Hailing Market are:
Uber Middle East
FZ LLC (Uber)
Careem Networks
FZ LLC
Bolt Technology
OU
Soul Innovations
Ltd (inDrive)
Didi Global Inc
Kayan Rehla
Information Technology Company (Kaiian)
KOI Ride
Sixt Ride GmbH
& Co. KG
XXRIDE For
Electronic Transport Services
Cloud World
Trading LLC – Otaxi
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“The
ride-hailing market in the Middle East and Africa continues to demonstrate
resilience and adaptability, driven by factors like urbanization, technological
advancements, and a burgeoning demand for convenient mobility solutions. Local
players and international giants alike are navigating diverse regulatory
landscapes and cultural nuances to cater to the unique needs of each region. As
the industry evolves, a focus on innovation, safety, and collaboration with
local authorities will be essential for sustained growth and the creation of a
seamless and efficient transportation ecosystem.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Middle
East & Africa Ride Hailing Market By Service Type (Single, Rental, Others),
By Fare Type (Economy, Premium), By Vehicle Type (ICE, Electric) By Country, By
Competition Forecast & Opportunities, 2019-2029F, has
evaluated the future growth potential of Middle East & Africa Ride Hailing
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers make sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Middle East & Africa
Ride Hailing Market.
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