Taken “the market is projected to grow to $31 billion by 2022, with the share of ride-hail startups increasing from 22% to 30% worldwide.”
And India is the largest growth market worldwide for the service, with nearly 20 million rides a day.
By the end of the three months ended June 6, Uber’s (s. - f) market share there accounted for 32% of the global ride-hailing market, up from 18% at the end of Q3 last year.
The number of ride-hail apps has now doubled in just two years, as Uber and China-based Didi Chuxing became the biggest. The number of the two companies’ users about 80 million is now more than double that of China’s Didi.
The market is projected to grow to $31 billion by 2022, with the share of ride-hail startups increasing from 22 to 30% worldwide; at the end of the second quarter, Uber was the largest provider in India with 10 million active users.
“These big deals, particularly that for Didi, show that in the age of AI, driverless vehicles and emerging market drivers, we are well-positioned to continue growing as a global player,” Travis Kalanick, chief executive officer of Uber, said in the statement.
The company said it sold three of its brands, including Lyft (f), to Chinese operator Didi Chuxing for an undisclosed amount in June.
“We remain focused on building the companies we believe in to create great jobs, create wealth and make a greater connection to the world,” Kalanick continued. “We will do so through driving the type of sustainable, profitable growth plan we outlined in the first quarter and continue to create great jobs and wealth in the US and around the world.”
Over five years, Lyft had more than 200 million active users.
Uber, however, said it has added over 2.5 million new drivers since the first quarter of 2017.
“In addition to Lyft, Uber now has drivers working with the company in more than 180 countries. We currently have more than 200,000 new drivers on Uber in more than 180 countries, up from a handful of countries in the beginning of this year,” Uber said.