GLOBAL RIDESHARING SPEND COULD EXCEED $400 BILLION IN 2021 Ridesharing apps enjoy a large and growing revenue opportunity and the potential to disrupt several industries. As companies expand their geographic footprint and product offerings, consumers are increasingly adopting these technologies. We estimate roughly 800 million to 850 million monthly active and unique users spend on average $20 to $25 per month on ridesharing apps this year, generating gross bookings $175 billion to $225 billion. Over the next three years, we estimate annual gross bookings could double to over $400 billion.
To calculate a total addressable market, we look for reasons to believe companies can sustainably grow revenue over the long term. We are already seeing early evidence ridesharing companies are expanding into adjacent “human and non-human mobility” markets, including food delivery, short-term rental cars, complementing or supplementing public transportation, lastmile delivery services, and long-haul or freight/ground delivery services. |