Ride-hailing - Ukraine | Statista Market Forecast

It is projected that Ukraine's Ride-hailing market will reach a revenue of US$58.11m in 2024.
The market is expected to experience an annual growth rate of 8.46% (CAGR 2024-2029) resulting in a projected market volume of US$87.24m by 2029.
By then, the number of users in the Ride-hailing market is expected to reach 6.69m users.
User penetration is projected to increase from 13.4% in 2024 to 17.4% by 2029.
The average revenue per user (ARPU) is expected to be US$11.40.
In Ukraine's Ride-hailing market, 100% of total revenue will be generated through online sales by 2029.
It is worth noting that in global comparison, China is expected to generate the largest revenue in the Ride-hailing market with US$60bn in 2024.
In Ukraine, ride-hailing services such as Uber and Bolt are gaining popularity due to the country's increasing urbanization and traffic congestion.

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 Ukraine has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Ukraine are increasingly opting for ride-hailing services due to the convenience and affordability they offer. With the rise of smartphone usage and improved internet connectivity, customers can easily book rides through ride-hailing apps, eliminating the need to wait on the streets for a taxi. Additionally, the transparent pricing and ease of payment methods have made ride-hailing services a popular choice among customers.

Trends in the market: One of the key trends in the Ukrainian ride-hailing market is the increasing competition among ride-hailing companies. Global players such as Uber and Bolt have entered the market, competing with local ride-hailing companies like Uklon and Yandex. Taxi. This competition has led to innovative features and services being introduced, such as loyalty programs, discounts, and improved customer support, in order to attract and retain customers. Another trend in the market is the expansion of ride-hailing services beyond major cities. Initially, ride-hailing services were primarily available in the capital city of Kyiv, but they have now expanded to other cities across Ukraine. This expansion has opened up new opportunities for both customers and drivers, providing them with a convenient transportation option in areas where traditional taxi services may be limited.

Local special circumstances: Ukraine has a large population and a growing middle class, which has contributed to the demand for ride-hailing services. As more people have disposable income and access to smartphones, the market for ride-hailing services has expanded. Additionally, the country's urbanization trend has led to increased congestion in cities, making ride-hailing a more attractive option for customers looking to avoid traffic and save time.

Underlying macroeconomic factors: The growth of the ride-hailing market in Ukraine can also be attributed to underlying macroeconomic factors. The country has experienced economic growth in recent years, which has led to increased consumer spending power. This has allowed more individuals to afford ride-hailing services, contributing to the market's expansion. Furthermore, the government has implemented regulations to support the development of the ride-hailing industry, providing a favorable environment for companies to operate and grow. In conclusion, the ride-hailing market in Ukraine has witnessed significant growth due to changing customer preferences, increasing competition among ride-hailing companies, expansion beyond major cities, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, ride-hailing companies will need to adapt to the changing needs and preferences of customers in order to maintain their competitive edge.

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.