South America Ride-Hailing Service Market Share by Size and Growth 2028

The ride-hailing service market in South America is expected to grow from US$ 3,098.35 million in 2021 to US$ 5,322.36 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.

People who are not capable of purchasing car can experience seamless travel through mobility services. Mobility-as-a-service reduces these costs for the user by maximising the use of transportation services like car sharing and ride hailing. It also reduces traffic congestion and overall automobile emissions in cities. As a result, digitally enabled car sharing and ride-hailing efficiently manage transport demands and provide a convenient and environmentally friendly alternative to private automobile ownership. Moreover, according to statistics, 55 percent of the world's population currently lives in cities, and estimations suggest that by 2050, roughly 68 percent of the population will be living in cities. The rapid pace of urbanization is already leading to traffic congestion. The Mobility as a Service (MaaS) concept may be a better choice for reducing traffic congestion by making greater use of existing public and private transportation infrastructure. The urgent demand for effective solutions to handle traffic in smart cities in a faster, less expensive, and convenient manner is expected to fuel MaaS market growth through 2028. Therefore, the increasing trend of mobility as a Service (MaaS) is expected to fuel the growth of the ride-hailing service market.

In South America, Brazil has witnessed the highest number of COVID-19 cases, followed by Ecuador, Peru, Chile, and Argentina. Governments are imposing travel restrictions, lockdowns, and trade bans to contain the infection spread. Thus, the SARS-CoV-2 pandemic has been severely affecting the ride-hailing service market growth in this region. . In 2020, the ride-hailing service across the South America region were majorly affected by the COVID-19 pandemic due to travel ban, flight cancelations, and quarantine measures. However, in 2021, with uplifting of lockdown and vaccination processes, the ride-hailing services have started again due to growing manufacturing & construction activities, and opening of most corporate offices, retail shops & shopping malls has helped in positively driving the demand of ride hailing service market in South America region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America ride-hailing service market. The South America ride-hailing service market is expected to grow at a good CAGR during the forecast period.

South America Ride-Hailing Service Market Revenue and Forecast to 2028 (US$ Million)

South America Ride-Hailing Service Market Segmentation

South America Ride-Hailing Service Market – By Service Type

E-hailing
Car Sharing
Car Rental
Station-based Mobility

South America Ride-Hailing Service Market – By Vehicle Type

Two-Wheeler
Three-Wheeler
Four-Wheeler
Others

South America Ride-Hailing Service Market – By Location

Urban
Rural

South America Ride-Hailing Service Market – By End-User

Institutional
Personal

South America Ride-Hailing Service Market – By Country

Brazil
Argentina
Rest of SAM

South America Ride-Hailing Service Market – Companies Mentioned

Daimler AG
Delphi Technologies Plc.
Didi Global Inc.
Uber Technologies Inc.

South America Ride-Hailing Service Market Strategic Insights

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South America Ride-Hailing Service Market Segmentation Analysis

South America Ride-Hailing Service Market Report Highlights

South America Ride-Hailing Service Report Scope

Report Attribute	Details
Market size in 2021	US$ 3,098.35 Million
Market Size by 2028	US$ 5,322.36 Million
CAGR (2021 - 2028)	8.0%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Service Type E-hailing Car Sharing Car Rental Station-based Mobility By Vehicle Type Two-Wheeler Three-Wheeler Four-Wheeler By Location Urban Rural By End-User Institutional Personal
Regions and Countries Covered	South and Central America Brazil Argentina Rest of South and Central America
Market leaders and key company profiles	Daimler AG Delphi Technologies Plc. Uber Technologies Inc. Didi Global Inc.