Ridesharing spending is expected to reach $ 937 billion by 2026

Global consumer ridesharing spending to exceed $ 937 billion by 2026, Juniper study finds Press release.

The study, Ride Sharing: Value Chain Analysis, Market Size and Forecasts 2012-2026, found that this is equivalent to 50 times the combined annual revenues of Transport for London, New York’s Metropolitan Transit Authority (MTA), and the subway. from Beijing this year, the statement said.

Spending is an increase from $ 147 billion this year, growing 537% by 2026, the statement said.

Customers in the United States and China are the leaders in ridesharing spend, and they are expected to account for 65% of the market’s value in 2026, the statement said. It will likely take government initiatives to reduce the use of private vehicles in cities, as well as a solid recovery from a pandemic, for countries to continue to lead the pack.

The study also found that only about 13% of consumers will use carpooling by 2026, according to the release. Most will opt for single occupancy services, showing that most consumers would prefer to travel alone and are willing to pay more to do so.

In other news, drivers of ridesharing and food delivery companies have been among the victims of carjacking and crimes.

Read more: Carpool, food delivery drivers among victims of violent crime

Eleven percent of car hijackings in Minneapolis so far this year have occurred to carpool drivers. This has led to drivers stopping or only working during the day. Others only pick up passengers from airports. Some have started wearing bulletproof vests, and others want the companies they work for to post pictures or background checks of runners.

Uber and Lyft have responded with measures such as buttons to connect drivers to 911. Both also require passengers to download credentials if they use payments not found.

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NEW PYMNTS DATA: WHAT BRITISH CONSUMERS EXPECT FROM THEIR GROCERY EXPERIENCES

On: Forty-four percent of UK grocery shoppers spend more in grocery stores when they have access to loyalty programs, and an equal share say the presence of loyalty programs alone dictates where they shop. What UK consumers expect from their grocery shopping experiences surveyed 2,501 UK consumers to examine how retailers can make the most of loyalty programs to increase spending and gain new customers.


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