Uber quarterly gross bookings worldwide 2016-2023

Despite the controversy that surrounds the company in many places, Uber’s global presence has increased enormously over the last years; since late 2016 the total value of Uber bookings worldwide has grown more than five times, reaching over 37.6 billion U.S. dollars in the first quarter of 2022, its highest recorded bookings to date. Uber Eats was responsible for 47 percent of total food delivery bookings in the United States in 2023. 

Ridesharing

Ridesharing services are online networks where drivers can ‘share’ space in their personal vehicle to passengers (who are also members of the network) for a fee. The service therefore operates like a traditional taxi, with the key difference being the use of technology and private vehicles. The latter exempts the network from the regulatory framework applicable to taxis in many regions. Accordingly, in some cases lower prices can be offered by ridesharing services. Uber is the leading ridesharing service in the United States with an annual revenue of nearly 32 billion U.S. dollars globally in 2022.

Global growth of ride-sharing faces uncertainties

While projections for the ride-sharing market are positive, the market also faces uncertainties as tighter regulations on ride-sharing services that many countries are considering or have already introduced, take hold. For example, Uber is banned or restricted in parts of Europe. Should more localities decide to regulate or ban ride-sharing services, the more optimistic forecasts for growth may need to be reconsidered.