South America Ride Hailing Market to Grow at 11% CAGR until 2023
Growing
traffic congestion, increasing urbanization, rising air pollution levels and
favorable government policies to drive South America ride hailing market by
2023
According to TechSci Research report, “South
America Ride Hailing Market
By Vehicle Type, By Internet Connectivity, By Service Type, By Vehicle
Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023”, the ride hailing market in South America is
forecast to grow at a CAGR of 11.5% during 2018 - 2023. Growing urbanization, expanding
fleet of automobiles and increasing penetration of smartphones and internet are
among the key factors expected to aid the market growth during the forecast
period. Increasing traffic congestion and ride hailing benefits such as ease of
booking and enhanced comfort are also anticipated to boost demand for ride
hailing services in South America in the coming years.
Browse 42 market data Figures and Tables spread through 60
Pages and an in-depth TOC on "South America Ride Hailing Market"
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Brazil dominated the region’s
ride hailing market in 2017 and is expected to maintain its market dominance
during the forecast period, on the back of growing internet penetration across
the country. Passenger car segment accounts for the largest share in the
region’s ride hailing market, as it is quite cost effective, safe and
comfortable for users. Uber Technologies
Inc., Lyft Inc. and Didi Chuxing are among the key players operating in South
America ride hailing market.
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“Rising popularity of carpooling / sharing in South
America can be majorly attributed to lower traveling expenses for the users. Moreover,
carpooling also results in making the ride eco-friendly as it lowers the number
of vehicles plying on the roads, thereby lowering the emissions of greenhouse
gases. Moreover, ease of booking with the introduction of 4G technology coupled
with investments by major players in South America ride hailing market would
fuel market growth over the course of next five years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“South America Ride
Hailing Market By Vehicle Type, By Internet Connectivity, By Service Type, By
Vehicle Connectivity, By Country, Competition Forecast & Opportunities,
2017-2023” has
analyzed the potential of ride
hailing market across the region, and provides statistics and
information on market size, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the industry.
About TechSci Research
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