Uber quarterly gross bookings worldwide 2016-2019
Despite the controversy that surrounds the company in many places, Uber’s global presence has increased enormously over the last three years; since late 2016 the total value of Uber bookings worldwide has more than tripled, reaching just over 18.1 billion U.S. dollars in the fourth quarter of 2019.
Ridesharing
Ridesharing services are online networks where drivers can ‘share’ space in their personal vehicle to passengers (who are also members of the network) for a fee. The service therefore operates like a traditional taxi, with the key difference that using of private vehicles exempts the network from the regulatory framework applicable to taxis. Accordingly, much lower prices can be offered by ridesharing services. Uber is by far the largest ridesharing service in the United States and has the largest market value of any such platform globally.
Global growth of ridesharing
While many people predict that the ridesharing market will continue to grow strongly, such predictions may not be certain. Usage of ridesharing services can vary greatly between cities, and a significant number of consumers have heard of ridesharing but are yet to try it. This may look like an indication of new markets for future growth, however part of the discrepancy is due to differing local attitudes towards regulation. For example, Uber is banned in parts of France, Italy, Finland, Germany and the Netherlands, and may soon be banned in London. Should more localities decide to regulate or ban ridesharing services, the more optimistic forecasts for growth may need to be reconsidered.
Ridesharing
Ridesharing services are online networks where drivers can ‘share’ space in their personal vehicle to passengers (who are also members of the network) for a fee. The service therefore operates like a traditional taxi, with the key difference that using of private vehicles exempts the network from the regulatory framework applicable to taxis. Accordingly, much lower prices can be offered by ridesharing services. Uber is by far the largest ridesharing service in the United States and has the largest market value of any such platform globally.
Global growth of ridesharing
While many people predict that the ridesharing market will continue to grow strongly, such predictions may not be certain. Usage of ridesharing services can vary greatly between cities, and a significant number of consumers have heard of ridesharing but are yet to try it. This may look like an indication of new markets for future growth, however part of the discrepancy is due to differing local attitudes towards regulation. For example, Uber is banned in parts of France, Italy, Finland, Germany and the Netherlands, and may soon be banned in London. Should more localities decide to regulate or ban ridesharing services, the more optimistic forecasts for growth may need to be reconsidered.
