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The top 4 ride-hailing services are now worth more than US$166 billion combined

Ride-sharing is getting more pervasive in urban areas. (Source: Flickr)
Ride-sharing is getting more pervasive in urban areas. (Source: Flickr)
Many people have gotten used to summoning a ride in a paid driver's car from their phone. A new analysis of this market indicates that such services (known collectively as "shared mobility") now challenge the traditional industries behind vehicle use and ownership. It also suggest that autonomous cars may be the way forward for the ride-hailing business of the future.

A new report indicates that the companies behind the most popular ride-hailing apps - Lyft, Uber, DiDi and Grab - have attained a worth of US$166 billion or more. Additionally, research shows that the market cap associated with the first 2 equals that of the 3 top US car manufacturers combined.

This suggests that personal mobility resulting from vehicle ownership or use, or, rather, the industry based on it, is now under appreciable threat from that based on shared mobility. However, it seems the latter is not stopping at cars: it is diversifying into sharing rides on other forms of transportation, bikes and scooters included.

The latest research now indicates that these adaptations are among the best ways to keep the ride-hailing ball rolling in the future. In addition, the impending rise of autonomous vehicles is likely to have a major impact on this industry. In fact, some analysts suggest that they will be the best path to profitability for companies such as Uber.

In other words, it appears that these firms may be getting ready to use next-gen technology to cut out a heretofore vital part of the ride-sharing service: the driver.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2019 08 > The top 4 ride-hailing services are now worth more than US$166 billion combined
Deirdre O Donnell, 2019-08- 8 (Update: 2019-08- 8)
Deirdre O'Donnell
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.