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Rideshare App Insights- Market Size, Features & How To Build

‘Sharing ride shows a greater heart’

Such thought processes with the high preference for the ride-sharing taxi service model have resulted in matchless success rates. 

In 2020, the global ridesharing market was valued at USD 76.48 billion. And now the industry experts expect it to grow to USD 242.73 billion by the end of 2028. This growth prediction is likely to reflect a 16.3% of GAGR (compound annual growth rate) between 2021-2028 duration. Such stats ensure that the industry is going to recover from the loss suffered during the COVID-19 pandemic times. 

share of ridehsare apps

All of these stats and promising predictions have made the rideshare app market an appealing business opportunity for current-age entrepreneurs. And why not when it’s getting easier than ever before to develop and run a rideshare app business. 

 

Let’s get started!

 

What’s The Latest Hotshot In The Market?

If you are making up your mind to bring a difference in this domain with your version of the rideshare app, it’s wise to know what’s influencing the market at the moment. 

 

Micro-Mobility 

The sudden and unexpected rise of micro-mobility is one key to bringing a successful motion in your ridesharing business. The term ‘micro-mobility’ is the intense potential to drive short distances using vehicles accommodating more than two people on a trip. This kind of fleet consists of longboards, mopeds, scooters, and bikes. It’s acting as a smart way of reducing fuel costs, traffic congestion, and seeking convenience. 

As a result, global automobile leaders like Volkswagen Group highly promote micro-mobility while launching electric mobility scooters. Recently, the brand launched Streetmate and Cityskater electric scooters in Geneva to show its support for the ridesharing market. The market for electric scooters is likely to accelerate and make USD 31.04 billion by the end of 2028.

 

Statistics Of The Rideshare Market 

  • As per Statista, the overall revenue in ride-sharing and taxi businesses in the United States is likely to reach up to USD 78,140 million by the end of 2022. 
  • The age group of 18 to 29 years in the U.S. is the major target market for rideshare apps. 
  • The expected revenue growth of the rideshare market in Europe for 2022 is USD 50,891 million. 
  • Global rideshare market leaders like Lyft and Uber hold up to 90% of the rideshare market share in the United States. 
  • The predicted revenue of the carpooling industry for 2022 in Asia is USD 177,414 million. This makes Asia the biggest ever target market for ridesharing businesses. 

stats of rideshare app

target audience of rideshare app market

Key Features Of A Rideshare App 

Car Owners/Drivers 

Easy Sign up/Log In 

Drivers can create an account on the platform via a quick and easy sign-up process. This unlocks a series of features ranging from accepting ride requests and completing the tour. 

 

Ride Details

Drivers can update the upcoming ride details including ride location, time, pickup, and drop exact location with a landmark for convenience. This helps the passengers to book a ride faster. 

 

Payment Gateway 

Drivers can leverage multiple third-party integrations incorporated for faster, easier, and safer transactions via the app. This ridesharing app consists of payment methods like a credit card, debit card, PayPal, UPI, etc. 

 

Accept/Reject Rides 

The drivers get complete liberty of accepting or rejecting the upcoming ridesharing requests on the basis of a legit reason like – a different pickup/drop location, low ridesharing fare offered, etc. 

 

Reviews And Ratings 

The passengers can share their journey experience with the upcoming end-users through the review and rating features. 

 

Update Details 

Drivers get the complete liberty to update the vehicle and ridesharing charges on the app. Plus, s/he can edit or update personal details like car vehicle number, personal information, etc. for users’ reference. 

 

Admin 

Manage Drivers

Admin gets complete control over the rides through an interactive dashboard. It enables you to add/remove and view the driver’s details, and trip details with one click. 

 

Coupons 

Admin can add as many coupons and discounted deals to let users avail and book a ride without letting it cost a leg and an arm. This helps to expand and encourage more and more users to join the rideshare platform. 

 

Manage Users 

Rideshare app admin can view the entire list of active users riding or scheduling rides. This feature proves helpful in verifying and keeping track of all rides initiated in a particular region. 

 

Commission 

It is the responsibility of the admin to evaluate the total profit earned on each ride and split the share among the rideshare company and driver based on the decided percentage. 

 

Passengers

Signup/Login

End-users can create a personalized account on the ridesharing app by entering unique credentials. This gives direct access to ride booking, rating, and many other features. 

 

Search Drivers 

Users can search for drivers or ridesharing options available for a particular location. Therefore, it helps in picking a ridesharing service provider with the lowest fare charges mentioned. 

 

In-App Call/Text 

End-users can connect with the car owner/ridesharing provider/driver through messages or call feature. The calls and messages are initiated through the app itself to keep a track of communication done between two parties. 

 

Reviews & Ratings 

The users can rate and review the ridesharing experience to help the upcoming users book a ride comfortably without a doubt. 

 

Want to Keep It Quick? 

Let’s Watch A Rideshare App Development App Now! 

How To Build & Launch A Rideshare App?

Developing and launching rideshare app requires joining hands with a reliable technology partner. When collaborating with the right app development company, you can experience a series of app development steps including – 

 

Step 1 – Understanding Requirements – 

Our business development experts team interacts and understands your idea of a rideshare app, discusses budget, and other constraints to get started. 

 

Step 2 – Developing Strategy – 

We use a set of tools and conduct thorough research to bring the latest features and functionalities to the table for you. Strategy making process reduces the chances of unexpected loopholes in the execution process. 

 

Step 3 – Implementation – 

Our project managers align a team of developers to execute the fully-customizable rideshare app development process in full swing. The process is carried out with the latest technology stack to ensure an enterprise-level product is delivered at last. This is one of our approaches to let your business stand out in this cutthroat competition. 

 

Step 4 – Deployment – 

The development process is followed by rigid quality tests to ensure a bug-free app. Furthermore, we proceed to the deployment stage after receiving a green signal from the QA team. 

 

Step 5 – Post-Deployment Services – 

Our team remains aligned with your in-house team to ensure timely updates, maintenance, and a bug-free app user experience. 

 

Rideshare App – Technology Stack 

technology stack for rideshare apps

why invest in rideshare apps - code brew labs

why invest in rideshare apps - code brew labs

All Set To Step Forward & Get The Rideshare App Development Process Started?

We at Code Brew Labs hold decades of experience in developing and delivering on-demand ridesharing apps in 3 weeks. Our team of knowledge-rich developers works on the latest technology stack follows the agile methodology and evaluates your business needs minutely, so you can have a robust final product ready within weeks.

As of now, we have served up to 1000 businesses with a reliable & customizable ridesharing app yet we continue to strive and prove ourselves as a preferred on-demand app development company suiting your business needs. Be it developing and launching a 100% customizable BlaBlaCar clone app or developing a new concept from scratch, we have got you covered. 

July 22, 2022

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