E. Mazareanu
Research expert covering aviation, aircraft , rail and train manufacturing and the logistics industry
Get in touch with us nowUber quarterly gross bookings worldwide 2016-2020
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 over 40.7 billion U.S. dollars in the first nine months of 2020. Uber's gross bookings peaked at just over 18 billion U.S. dollars in the fourth quarter of 2019. Uber Eats contributed over 58 percent to total bookings in the fourth quarter of 2020.
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 being the use of technology and private vehicles. The latter 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 faces uncertainties
While many people predict that the ridesharing market will continue to grow strongly, such predictions may not be certain, particularly in light of the coronavirus pandemic. 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 or restricted in parts of Europe. 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 being the use of technology and private vehicles. The latter 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 faces uncertainties
While many people predict that the ridesharing market will continue to grow strongly, such predictions may not be certain, particularly in light of the coronavirus pandemic. 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 or restricted in parts of Europe. Should more localities decide to regulate or ban ridesharing services, the more optimistic forecasts for growth may need to be reconsidered.
