Ride-hailing - Russia | Statista Market Forecast

It is projected that the Ride-hailing market in Russia will generate a revenue of US$5.39bn by 2024.
Moreover, it is expected that the revenue will grow annually at a rate of 4.35% between 2024 and 2029, resulting in a projected market volume of US$6.66bn by the end of 2029.
In terms of the number of users, the marketis expected to reach 45.26m users by 2029, with a user penetration of 28.3% in 2024 and 31.9% by 2029.
The average revenue per user (ARPU) is projected to be US$132.00.
The Ride-hailing market is an online-only market.
It is worth noting that, in global comparison, China will generate the most revenue, with a projected revenue of US$60bn in 2024.
Ride-hailing services like Yandex.Taxi dominate the Russian market.

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 Russia has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Ride-hailing market in Russia have shifted towards convenience and affordability. With the rise of smartphone penetration and the increasing popularity of digital platforms, customers are increasingly opting for ride-hailing services as a convenient and cost-effective alternative to traditional taxi services. The ability to book a ride with just a few taps on a mobile app and the availability of multiple payment options have made ride-hailing services a preferred choice for many Russians. Trends in the market indicate that ride-hailing companies in Russia are expanding their services beyond major cities and into smaller towns and rural areas. This expansion is driven by the increasing demand for ride-hailing services in these areas, as well as the potential for growth and market penetration. Additionally, ride-hailing companies in Russia are diversifying their services by offering additional features such as food delivery and courier services, further enhancing their value proposition for customers. Local special circumstances in Russia, such as traffic congestion and limited parking spaces, have contributed to the growth of the ride-hailing market. In major cities like Moscow and St. Petersburg, where traffic congestion is a major issue, ride-hailing services provide a convenient and efficient mode of transportation. Moreover, the limited availability of parking spaces in urban areas has made ride-hailing services a more attractive option for customers. Underlying macroeconomic factors have also played a role in the development of the ride-hailing market in Russia. The country's economic growth and rising disposable incomes have increased the demand for transportation services, including ride-hailing. Additionally, the growing middle class in Russia has led to an increase in the number of people who can afford ride-hailing services, further driving market growth. In conclusion, the Ride-hailing market in Russia is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience and affordability of ride-hailing services, the expansion of services into smaller towns and rural areas, traffic congestion and limited parking spaces, and the country's economic growth and rising disposable incomes are all contributing to the development of the ride-hailing market in Russia.

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.