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Ride Sharing Market to grow by USD 180.02 Billion (2024-2028), driven by rising vehicle ownership costs, with AI redefining the market landscape – Technavio

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NEW YORK, Dec. 4, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global ride sharing market size is estimated to grow by USD 180.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 26.35% during the forecast period. Increase in vehicle ownership cost is driving market growth, with a trend towards emergence of autonomous ride sharing. However, risks of theft and need for frequent maintenance poses a challenge. Key market players include ANI Technologies Pvt. Ltd., Avis Budget Group Inc., Bolt Technology OU, Cabify Espana SL, Comuto SA, Curb Mobility LLC, DENSO Corp., Enterprise Holdings Inc., Grab Holdings Ltd., GT Gettaxi UK Ltd., Hertz Holdings Inc., Ibibo Group Pvt. Ltd., iDisha Info Labs Pvt. Ltd., Lyft Inc., My Taxi Indi, PT GoTo Gojek Tokopedia Tbk, Share Now GmbH, TomTom NV, Uber Technologies Inc., and Via Transportation Inc..

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Ride Sharing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 26.35%

Market growth 2024-2028

USD 180.02 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

23.41

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 45%

Key countries

China, US, Germany, UK, and Japan

Key companies profiled

ANI Technologies Pvt. Ltd., Avis Budget Group Inc., Bolt Technology OU, Cabify Espana SL, Comuto SA, Curb Mobility LLC, DENSO Corp., Enterprise Holdings Inc., Grab Holdings Ltd., GT Gettaxi UK Ltd., Hertz Global Holdings Inc., Ibibo Group Pvt. Ltd., iDisha Info Labs Pvt. Ltd., Lyft Inc., My Taxi Indi, PT GoTo Gojek Tokopedia Tbk, Share Now GmbH, TomTom NV, Uber Technologies Inc., and Via Transportation Inc.

Market Driver

The ride-sharing market is experiencing significant trends with the emergence of apps like Waze, Carma, eRideShare, CarpoolWorld, BlaBlaCar, Liftshare, and Commute with Enterprise. These platforms leverage GPS navigation and smartphone technology to help reduce greenhouse gas emissions by optimizing vehicle trips and minimizing traffic congestion. Millennials prefer ride-sharing over public transport for convenience and affordability, leading to increased demand. Mobility Service Providers (MSPs) like Gett, Didi, Go-Jek, Grab, and Ola are expanding their offerings beyond e-hailing to include food delivery, last-mile delivery, and even bikes and scooters. The car sharing market is evolving with various vehicle types, while the micromobility market focuses on the short distance segment. Business models are shifting towards profitability and sustainability, with data services, Intelligent Transportation Systems, and Automotive Vehicle-to-Everything becoming essential components. Vehicle ownership, maintenance, and component replacement costs are becoming less attractive, driving the trend towards shared mobility. Autonomous ridesharing is a growing trend, with OEMs investing heavily. However, trust and revenues remain key challenges. Passenger comfort and safety are paramount, and losses from vehicle trips can be substantial. The transportation sector is undergoing a digital transformation, with e-commerce and the sharing economy leading the way. 

Cab service providers utilize vehicles as their primary mode of transportation, generating substantial data for automakers on driving patterns, traffic conditions, and road situations. Autonomous vehicles, used as taxis and parcel delivery services, offer valuable insights through real-world testing. Major autonomous vehicle manufacturers have been focusing on developing self-driving cars for taxi and delivery services since 2017. For instance, Mercedes-Benz AG partnered with Uber Technologies to launch autonomous taxis by the end of 2021. These collaborations provide a foundation for autonomous vehicles to learn and adapt to diverse driving conditions. 

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Market Challenges

Ride-sharing market is witnessing significant growth with the emergence of players like Waze, Carma, eRideShare, CarpoolWorld, BlaBlaCar, Liftshare, Commute with Enterprise, Avolon-e, and more. These Mobility Service Providers (MSPs) leverage GPS navigation and smartphone technology to offer e-hailing services, reducing reliance on public transport and personal vehicle ownership. However, challenges such as traffic congestion, air pollution, and greenhouse gas emissions persist. MSPs face losses due to trust issues, vehicle maintenance, and component replacement costs. Business models vary from carpooling and e-hailing to autonomous ridesharing. The market includes offerings from OEMs like Didi, Go-Jek, Grab, and Ola, targeting both vehicle trips and the micromobility market (bikes and scooters). The data service segment, including Intelligent Transportation Systems and Automotive Vehicle-to-Everything, is crucial for improving passenger comfort and reducing losses. The market’s profitability and sustainability depend on addressing these challenges while adapting to evolving consumer preferences and technology trends.The global ride sharing market is experiencing a setback due to an escalating issue with bike theft. Despite implementing advanced security measures, vendors continue to grapple with this challenge. The scarcity of bicycles resulting from thefts has led to customer dissatisfaction, as shown in social media complaints. The deficit in available bicycles contrasts with the number displayed in the app. Additionally, frequent bike maintenance is required due to careless riding practices and falls, further straining market growth during the forecast period.

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Segment Overview 

This ride sharing market report extensively covers market segmentation by

End-user 1.1 Individual1.2 BusinessType 2.1 Car2.2 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Individual- The individual segment holds the largest share in the global ride sharing market due to its cost-effective and efficient business model. Unlike traditional taxi services, ride sharing allows individuals to plan their rides in advance. Drivers of privately-owned cars partner with ride sharing companies to offer rides to commuters. If a driver is heading towards a passenger’s destination, they can pick up additional riders en route, reducing costs for passengers and increasing efficiency for drivers. The preference of drivers for carrying only one or two passengers keeps this segment dominant in the forecast period.

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Research Analysis

The ride-sharing market is revolutionizing the way people commute, offering cost-effective, convenient, and eco-friendly alternatives to traditional transportation methods. With the help of GPS navigation and smartphone technology, platforms like Waze, Carma, eRideShare, CarpoolWorld, BlaBlaCar, Liftshare, MaaS, Commute with Enterprise, Avolon-e, and others facilitate carpooling and ride-sharing, reducing vehicle trips and traffic congestion. These solutions not only help save money but also contribute to reducing greenhouse gas emissions and air pollution. Millennials, in particular, are embracing ride-sharing as an alternative to public transport, making it an increasingly popular choice for urban commuters. V2V communication and e-hailing services from companies like Bolt Technology OU and Gett further enhance the convenience and safety of ride-sharing, making it an attractive option for those seeking to minimize their carbon footprint while navigating the challenges of modern transportation.

Market Research Overview

The ride-sharing market is a dynamic and innovative sector that leverages GPS navigation, smartphone technology, and Internet connectivity to provide on-demand transportation solutions. This market includes various service types such as carpooling, e-hailing, and bike rental. Millennials are a key demographic, preferring ride-sharing over public transport to save time and reduce air pollution. Mobility Service Providers (MSPs) offer car sharing, eCommerce, food delivery, and last-mile delivery services, utilizing vehicle trips to optimize traffic flow and reduce congestion. Business models vary from peer-to-peer to fleet-based, with offerings ranging from autonomous ridesharing to vehicle types like cars, bikes, and scooters. V2V communication, Intelligent Transportation Systems, and Automotive Vehicle-to-Everything technologies are driving smart transportation, while losses from ride-sharing are a concern due to passenger comfort, trust, and revenue generation. The market faces challenges like emissions, maintenance, and component replacement costs, but the potential for profitability and sustainability remains high. The transport network continues to expand, with players like Didi, Go-Jek, Grab, and Ola leading the way in the car sharing and micro-mobility market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIndividualBusinessTypeCarOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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STARTRADER Launches SKHY as SK Hynix Makes Its US Market Debut, Giving Clients Timely Access to a Key AI Memory Name

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SKHY gives clients direct exposure to a key supplier of high-bandwidth memory at the heart of the AI acceleration market.

DUBAI, UAE, July 23, 2026 /PRNewswire/ — STARTRADER today announced the launch of SK Hynix Inc. (SKHY) as a US Stock CFD on its trading platform, available from July 22, 2026. Moving swiftly following SK Hynix’s recent US listing, which raised approximately $26.5 billion, STARTRADER is ensuring clients can engage with this name at the earliest opportunity.

This is precisely the type of occasion STARTRADER builds its product strategy around. As significant names enter the US market and begin drawing institutional attention, STARTRADER moves decisively to ensure clients have access when it carries the most relevance. For a company of SK Hynix’s standing in the AI memory supply chain, its US debut represents exactly that kind of opportunity.

The decision reflects a product philosophy centred on anticipation. As the boundary between global and US-listed equities continues to narrow, STARTRADER intends to remain consistently at that intersection, connecting clients to names the global investment community is beginning to follow closely and providing the access needed to engage with both confidence and context.

“Clients who follow the AI infrastructure story understand that the opportunity runs through the entire supply chain, including the memory and bandwidth that make large-scale AI possible. SK Hynix’s arrival on the US market made this the right moment to act, and acting early on behalf of our clients is exactly what we intend to keep doing.”

Peter Karsten, Chief Executive Officer, STARTRADER

SKHY marks the latest addition in a product offering designed to keep clients directly connected to the names and sectors defining the next phase of global market development, with the breadth and precision to engage with structural investment themes as they take shape.

Trading CFDs involves a significant risk of loss and may not be suitable for all investors. Please ensure you fully understand the risks before trading.

About STARTRADER
STARTRADER is a global multi-asset broker empowering retail and institutional partners to access global markets through a range of platforms, including MetaTrader, STAR-APP, and STAR-COPY. Regulated infive jurisdictions (CMA, ASIC, FSCA, FSA, and FSC), STARTRADER combines strong governance with a client-first approach, serving both retail clients and partners with a commitment to transparency, reliability, and long-term growth.

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FORD AND GEELY AUTO JOIN FORCES IN EUROPE TO PRODUCE NEXT-GENERATION MULTI-ENERGY VEHICLES IN SPAIN

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The global automakers plan to form a manufacturing joint venture at Ford’s Valencia, Spain, plant, combining scale and factory utilization, to build Ford and Geely vehiclesThe partnership, built on a foundation of trust and shared business principles, secures the future of the Valencia plant, provides long-term stability and creates the potential for future high-tech manufacturing job growthThe joint venture addresses the new realities of the European market — intense global competition, relentless cost pressure and tightening regulation — resetting Valencia to build at the industry’s emerging cost benchmarkThe Valencia plant will produce a new generation of low- and zero-emission vehicles for European markets, offering customers an outstanding technology experienceThe joint venture is expected to produce an all-new multi-energy crossover for Ford, in addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028. Kuga production continues uninterruptedThe collaboration accelerates Geely Auto’s European expansion, and supports Ford’s product offensive to bring five new passenger vehicles to European showrooms by 2029

VALENCIA, Spain, July 23, 2026 /PRNewswire/ — Ford Motor Company and Geely Automobile Holdings (hereafter “Geely Auto”) today announced an agreement to form a Europe-focused joint venture (JV) at Ford’s Valencia, Spain, manufacturing hub.

The new JV will manufacture Ford and Geely multi-energy passenger vehicles for the European market, driving greater choice and value for European drivers.

Europe is home to one of the fiercest competitive battles in the global automotive industry today. Tightening regulation, high operating costs and a new generation of global competitors have reset the industry’s benchmark for manufacturing cost, vehicle technology and software experience.

By pooling production volume, Ford and Geely will maximize the capacity of the Valencia plant, lower the cost of every vehicle built there, and compete at this emerging cost standard while delivering world-class multi-energy vehicles and strengthening the local Valencia economy in the process.

Pending regulatory approvals, the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia plant will continue to produce the Ford Kuga in the meantime.

“This JV with Ford in Europe reflects our commitment to open, collaborative product development as part of our growth strategy, deepening our local presence and commitment to customers in Europe”, said Alex Nan, Vice President of Geely Auto Group. “We are dedicated to delivering vehicles that European customers will choose on merit: on industry leading features, on high-quality and on actively contributing to Europe’s green future. Put simply: we are building cars in Europe, for Europe, alongside a trusted partner.”

Ford’s partnership with Geely is built on a foundation of trust and respect stretching back to 2010 when Ford sold Volvo Cars to Geely and watched it protect and revitalize the brand. Both companies share a commitment to quality, cost-efficient sourcing and continuous improvement, as well as a belief that customers should be able to choose their own path through the energy transition.

Transforming Valencia into a Powerhouse for Low-CO2 Mobility

The JV will transform Ford’s Valencia facility – already one of Europe’s most productive and advanced plants, with a potential annual capacity of about 500,000 vehicles – into a shared, high-tech manufacturing hub built to compete at the industry’s new global cost standard. The plant has been at the leading edge of the European market since it opened in 1976, when it built the original Ford Fiesta, Ford’s first global front-wheel-drive car, and a major success. Ford was the first non-Spanish automaker to build in Valencia, the start of a partnership with Spain and its people that remains as strong today.

Under the proposed ownership structure, Ford will own 66% of the new entity and Geely Auto 34%.

An Exciting Vehicle Lineup

“For nearly 50 years, Valencia has built some of the most-loved cars in our history, and now this team will help build our future”, said Jim Baumbick, President, Ford of Europe. ” That’s why we’re building a flexible, cost-effective industrial system with a capable partner in Geely Auto. Together we can fully utilize a best-in-class plant with a great workforce and match the industry’s new cost benchmark. This is all part of Ford’s vision to give European drivers rally-bred handling, true off-road capability and multi-energy technology, with a distinct Blue Oval DNA.”

The JV will combine the engineering, manufacturing and development know-how of two of the world’s leading automakers to build both Ford and Geely low- and zero-emission passenger vehicles. The cars will be tailored for European drivers and will offer them choice in powertrain technology, as well as outstanding digital experiences.

Ford Models:

The Popular Ford Kuga: Production of the Ford Kuga — one of Europe’s favorite plug-in hybrids — will continue uninterrupted in Valencia.A Rugged New Bronco: Valencia will also produce a new member of the global Bronco family – a tough, compact, adventure-ready SUV built for European roads, with production starting in 2028.An All-New Crossover: A multi-energy family crossover, designed by Ford and jointly developed with Geely will arrive in 2028. Engineered with Ford’s signature capabilities and driving dynamics, it is part of an aggressive product offensive that will bring five new multi-energy vehicles to Europe by 2029.

Geely Models:

Sleek Electric SUVs: Geely Auto plans to produce two electric SUVs at the Valencia facility in full support of their European focus and growth strategy. The first Geely-branded models to be manufactured under this joint venture are scheduled to roll off the production line in 2028.

The venture supports Geely Auto’s international expansion, following overseas sales of 474,228 vehicles in the first half of the year, while advancing Ford’s strategy of using partnerships to compete with speed, efficiency and scale in Europe.

“This partnership shows how automakers are strengthening Europe’s industrial base, but we can’t do it alone,” said Jim Baumbick. “What we’ve achieved in Valencia, with the ongoing support of Spain’s national and regional governments, is a masterclass in public-private partnership that sets the benchmark for the rest of Europe.”

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services, including BlueCruise (ADAS) and security. The company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles (“EVs”) along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the company provides financial services through Ford Motor Credit Company. Ford employs about 168,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

About Geely Auto Group

Geely Auto Group is a leading global automotive company headquartered in Hangzhou, China. Part of Zhejiang Geely Holding Group, Geely Auto Group develops and manufactures passenger vehicles under the Geely, Lynk & Co, and Zeekr brands.

Geely Auto achieved cumulative sales of 3,024,567 units in 2025, exceeding the full-year sales target with a year-on-year growth of 39%. New energy vehicle (NEV) sales reached 1,687,767 units, a year-on-year increase of 90%.

With a strong focus on technology innovation, electrification, and sustainable mobility, Geely Auto Group operates world-class R&D centers and manufacturing facilities across China, Europe, and key international markets. The Group is committed to delivering safe, high-quality, and intelligent vehicles enabled by advanced technologies such as hybrid powertrains, full-electric architectures, smart connectivity, and autonomous driving systems.

As a global company, Geely Auto Group continues to expand its international presence through strategic partnerships, localized operations, and industry-leading platforms. Geely strives to create mobility solutions that are greener, smarter, and more accessible, driving forward the future of sustainable transportation.

Ford news releases, related materials, photos and video, visit From the Road, www.fordmedia.eu or www.media.ford.com.
Follow www.linkedin.com/company/ford-in-europe, www.youtube.com/FordNewsEurope, www.instagram.com/FordNewsEurope,
www.threads.net/@fordnewseurope and www.tiktok.com/@FordNewsEurope

 

 

 

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K25.ai Secures Series A Investment with Strategic Support from Amber Group, Valuation Doubles to US$200 Million

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Series A follows K25.ai’s oversubscribed Pre-A round and accelerates its vision to make prediction markets native to live digital content

SINGAPORE, July 23, 2026 /PRNewswire/ — K25.ai, the AI-native prediction market transforming livestreams into real-time interactive markets, today announced the closing of its Series A investment round, with strategic support from Amber Group, at a post-money valuation of US$200 million, doubling the company’s valuation in under 60 days.

The Series A marks another major milestone for K25.ai as it builds a new category at the convergence of artificial intelligence, live digital content, creator economies and prediction markets.

K25.ai enables audiences to predict what happens next across live sports, esports, entertainment and creator content. Its proprietary AI infrastructure supports real-time market generation, content monitoring and outcome resolution, powering a seamless watch-to-predict experience.

The investment and strategic collaboration will accelerate K25.ai’s product development, global expansion, institutional liquidity infrastructure and creator ecosystem.

“We’re building the category where AI meets live content and real-money prediction. Amber Group’s backing — and the doubling of our valuation — confirms the market is ready. We’re moving fast,” said Andy Cheung, Founder and CEO of K25.ai.

Amber Group will support K25.ai across market infrastructure, liquidity strategy, ecosystem development and related digital asset expertise.

“K25.ai is creating a differentiated platform at the intersection of AI, real-time content and prediction markets,” said Haoyu, Portfolio Director of amber.ac. “We are excited to support its experienced team as it scales a new generation of interactive financial and entertainment experiences.”

The Series A follows K25.ai’s recently closed Pre-A round led by Nasdaq-listed NewGenIVF Group Limited (Nasdaq: NIVF). The Series A support from Amber Group doubles K25.ai’s valuation from its Pre-A round and adds a second institutional backer alongside NewGenIVF Group, extending K25.ai’s strategic support across both public markets and digital assets.

About K25.ai

K25.ai is an AI-native livestreaming prediction market transforming passive audiences into active participants. By combining live content, creator-led markets and AI-powered resolution, K25.ai is building the infrastructure for the next generation of interactive information markets.

About Amber Group

Amber Group is a global leader in digital assets, headquartered in Singapore. Amber Group is the parent company of Amber International Holding Limited (Nasdaq: AMBR), which operates as a separate publicly traded company. Since 2017, Amber Group has developed full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investment, and infrastructure. These products and services are offered across various entities within Amber Group. Certain products, services, technologies, and initiatives described in this press release are developed or carried out by subsidiaries or affiliates of Amber Group other than Amber International Holding Limited, and are not necessarily conducted by or attributable to the listed entity.

Backed by top investors and equipped with deep expertise in both digital and traditional markets, Amber Group leverages AI, blockchain, and quantitative research to deliver personalized, cutting-edge solutions. The company focuses on servicing a diverse global clientele—comprising HNW individuals, institutions, funds, exchanges, and projects—to optimize returns safely across all market conditions.

Learn more at www.ambergroup.io.

Media and Investor Contacts

K25.ai Media Contact
media@k25.ai 

K25.ai Investor Relations Contact
ir@k25.ai 

K25.ai Partnership Contact
partnership@k25.ai 

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