Ride-hailing - Uzbekistan | Statista Market Forecast

It is projected that the revenue in Uzbekistan's Ride-hailing market will reach US$50.83m by 2024.
Additionally, the market is expected to exhibit an annual growth rate of 13.08% (CAGR 2024-2029).
This growth rate is expected to result in a projected market volume of US$93.97m by 2029.
As for the number of users in this market, it is expected to reach 11.16m users by 2029, with a projected user penetration of 19.3% in 2024 and 29.4% by 2029.
The average revenue per user (ARPU) is expected to be US$7.39.
It is projected that by 2029, 100% of the total revenue generated in this market will be through online sales.
Finally, in comparison to other countries, it is expected that China will generate the most revenue in the Ride-hailing market, with a projected revenue of US$60bn in 2024.
Ride-hailing services in Uzbekistan, such as Yandex.Taxi and UzAuto, are gaining popularity due to their affordability and convenience.

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 Uzbekistan has been experiencing significant growth in recent years.

Customer preferences: Customers in Uzbekistan have shown a strong preference for ride-hailing services due to their convenience and affordability. With the increasing popularity of smartphones and the availability of mobile internet, more and more people are using ride-hailing apps to book their rides. This trend is particularly prevalent among the younger population who are tech-savvy and value the ease of use and transparency provided by these platforms.

Trends in the market: One of the key trends in the ride-hailing market in Uzbekistan is the emergence of local ride-hailing companies that are competing with international players. These local companies understand the unique needs and preferences of the local market and are able to tailor their services accordingly. They also have a better understanding of the local regulations and can navigate them more effectively. As a result, they have been able to gain a significant market share and are giving tough competition to the international players. Another trend in the market is the expansion of ride-hailing services beyond major cities. Initially, ride-hailing services were only available in the capital city of Tashkent, but now they have expanded to other cities as well. This expansion has been driven by the increasing demand for convenient transportation options in these cities. As more people in these cities become aware of the benefits of ride-hailing services, the market is expected to grow further.

Local special circumstances: The ride-hailing market in Uzbekistan is also influenced by local special circumstances. One such circumstance is the high rate of car ownership in the country. Many people in Uzbekistan own cars, which has traditionally made it difficult for ride-hailing services to gain traction. However, with the increasing traffic congestion and limited parking spaces in cities, more people are opting for ride-hailing services as a convenient and cost-effective alternative to driving their own cars.

Underlying macroeconomic factors: The growth of the ride-hailing market in Uzbekistan can be attributed to several macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and a growing middle class. This has resulted in higher consumer spending on transportation services, including ride-hailing. Additionally, the government has been implementing reforms to improve the business environment and attract foreign investment, which has created a favorable environment for ride-hailing companies to operate and expand in the country. In conclusion, the ride-hailing market in Uzbekistan is experiencing significant growth due to customer preferences for convenience and affordability, the emergence of local players, the expansion of services to other cities, the high rate of car ownership, and underlying macroeconomic factors such as economic growth and government reforms.

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.