Ride-hailing - Brazil | Statista Market Forecast

The projected revenue for the Ride-hailing market in Brazil is expected to reach US$2.52bn by 2024.
Furthermore, it is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 3.25%, resulting in a projected market volume of US$2.96bn by 2029.
It is projected that the number of users in the Ride-hailing market will reach 77.25m users by 2029, with projected user penetration of 31.6% in 2024 and 34.6% by 2029.
The expected Average Revenue Per User (ARPU) is US$36.58.
The Ride-hailing market is an online-only market.
When compared globally, China is expected to generate the most revenue (US$60bn in 2024).
Ride-hailing services in Brazil are fiercely competitive, with local players like 99 and Cabify challenging the dominance of Uber.

Definition:

The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online. It includes Transportation Network Companies (TNCs), such as Uber and Lyft, traditional taxis booked via apps, such as Free Now or Cabify, and ride-pooling services, such as Moia and Via. This market excludes peer-to-peer ride-sharing, focusing on professionally operated transport services booked digitally for efficient and convenient urban mobility. Rides of traditional taxi services hailed on the street or booked via telephone are not included in this market.

Additional Information:

The main performance indicators of the Ride-hailing market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the mentioned market. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Platforms that let users book rides offered by drivers using their private vehicles (e.g., Uber)
Taxi companies that offer their services through an app (e.g., Free Now)
Platforms that offer shared rides (ride-pooling) with other passengers (e.g., Moia, Via)

Traditional taxi rides booked offline with taxi companies (via street-hailing or by telephone)

The Ride-hailing market in Brazil is experiencing significant growth and development.

Customer preferences: Customers in Brazil are increasingly turning to ride-hailing services for their transportation needs. This can be attributed to several factors. Firstly, ride-hailing services offer convenience and flexibility, allowing customers to request a ride with just a few taps on their smartphones. This is particularly appealing to urban dwellers who are looking for a quick and efficient way to get around the city. Additionally, ride-hailing services often provide competitive pricing, making them an attractive option for cost-conscious consumers.

Trends in the market: One of the key trends in the ride-hailing market in Brazil is the increasing popularity of motorcycle ride-hailing services. This trend can be attributed to the unique traffic conditions in many Brazilian cities. Motorcycles are often able to navigate through congested roads more easily than traditional cars, allowing for faster and more efficient transportation. As a result, motorcycle ride-hailing services have gained traction among customers who are looking for a quicker way to reach their destinations. Another trend in the market is the emergence of specialized ride-hailing services catering to specific customer needs. For example, there are ride-hailing services in Brazil that specifically cater to women, offering female drivers and additional safety features. This trend reflects the growing demand for personalized and tailored services in the ride-hailing industry.

Local special circumstances: Brazil is a country with a large population and significant urbanization. This presents both opportunities and challenges for the ride-hailing market. On one hand, the large population provides a large customer base for ride-hailing companies to tap into. On the other hand, the high population density in urban areas can lead to traffic congestion and longer wait times for rides, which can impact customer satisfaction. Additionally, Brazil has a diverse geography, with many cities located in hilly or mountainous regions. This can pose challenges for ride-hailing services, particularly those that rely on traditional cars, as navigating these terrains can be more difficult.

Underlying macroeconomic factors: The development of the ride-hailing market in Brazil is also influenced by underlying macroeconomic factors. Brazil has experienced economic growth in recent years, which has led to an increase in disposable income for many consumers. This has contributed to the growth of the ride-hailing market, as more people are able to afford the convenience and cost-effectiveness of these services. Additionally, the increasing penetration of smartphones and internet connectivity in Brazil has made it easier for customers to access and use ride-hailing apps. This has further fueled the growth of the market. In conclusion, the ride-hailing market in Brazil is experiencing significant growth and development, driven by customer preferences for convenience and cost-effectiveness. The market is characterized by trends such as the popularity of motorcycle ride-hailing services and the emergence of specialized services catering to specific customer needs. However, the market also faces challenges such as traffic congestion and geographical constraints. The development of the market is influenced by underlying macroeconomic factors such as economic growth and increasing smartphone penetration.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.