Ridesharing operates globally, however, with increasing populations and business operations, the demand for effective mobility in the Asia Pacific region is high. The ride sharing market has increased dramatically from 2015 to 2019, generating 13 billion U.S dollars in Southeast Asia alone in 2019. Given the dramatic rise in ridesharing usage, it does not seem too surprising that Asia happens to be the largest ride-hailing market globally. Many companies have taken advantage of the surge in popularity of ridesharing and have firmly established themselves within the ridesharing market. The companies which dominate the ridesharing market throughout Asia Pacific countries are: GrabTaxi, Go-Jek, Ola and Uber Technologies, Inc. Uber operates in Australia, New Zealand, India, Bangladesh, Sri Lanka, Japan, South Korea, Taiwan and Hong Kong – with headquarters based in Singapore. Not only does Uber offer ridesharing, but it has reached Super App status, offering food delivery services. Uber’s success in the Asia Pacific region is confirmed by its increased revenue throughout recent years. A direct competitor with Uber is GrabTaxi – a fellow Super App company, based in Singapore. Similarly to Uber, Grab Taxi has also exhibited steady progression through its increased revenue over recent years.
The future of ridesharing appears to be affluent and promising with forecasts it will become cheaper to rideshare rather than own a car by 2027. In this regard, it can be inferred that ridesharing will retain its popularity within years to come.