The on-demand ridesharing business has provided great convenience to people. When a person wants to go from one place to another, he doesn’t have to wait around to find a cab. Instead, he can book from the best rideshare apps right from his phone and relax! The cab arrives on time and takes the person to his destination.
Since smartphones are owned by the majority of people, on-demand services such as taxi booking, food ordering, etc., have seen a major surge in the last five years.
Ride Sharing Market Stats
The global ride-sharing market is expected to reach USD 185.1 billion in 2026 . Also, more and more people are moving to cities, which also increases the demand for on-demand ride sharing apps.
Venture Into the Ride Sharing Business
Are you an entrepreneur looking to venture into the ride sharing business? Well, now’s the right time to do so. Although there are big competitors in the market, small competitors have made quite a progress in the industry. To make a name in the ride sharing business, you must take notes on what your competitors are doing and what factors contribute to their success.
Let’s see which are the top ride sharing apps of 2022:
Uber: Lower Cost Option on Ride Share
Uber needs no introduction! Uber created a storm in the industry by bringing in a fresh concept. The company is headquartered in San Francisco and has around 110 million users worldwide. Uber also introduced “UberPool,” which allows people having the same destination to travel together and pay less. Get an in-depth Analysis of a Huge Revenue Model of Uber.
For riders, Uber provides features such as multiple payment modes, scheduling rides in advance, multiple drop-off points for a group of riders, split fares between the group, etc. Drivers enjoy features like a passenger rating system, special provision for hearing-impaired drivers, bonuses in certain cities
GoJek: Cheapest Ride Service
GoJek is active in 4 countries. It’s a platform consisting of 20 apps, which are used for connecting riders with drivers, allowing people to book motorbikes to go from one place to another, helping in moving heavy items, delivers food and other goods.
The great thing about GoJek is that it provides health insurance for all drivers. From time to time, it offers special promotions and discounts for drivers on groceries and fuel. That’s not all; GoJek provides free training to drivers to learn English and other life-changing skills.
Lyft: Car Riding Services
Lyft is a popular and tough competitor of Uber. It is active in North America; Lyft is known for providing an affordable and welcoming experience to its customers. “Your friend with a car” is the tagline of Lyft as passengers and drivers tend to chat more, and before the pandemic, Lyft passengers used to hop in the front seat of the car. Lyft shared rides are a popular option among riders; also, it offers a “one tap to ride” option, which allows quick requests and pickups. Lyft takes care of the work-life balance and provides its drivers with the option to mark the current ride as the last ride so that they don’t get unexpected requests.
Careem: Best Car Rental App
Careem is one of the best on-demand ride sharing apps based in Dubai. It operates in around 100 cities and has captured the market in the Middle East as well as North Africa. The company also supports more than 700,000 refugees with the Careem Rewards donation program. Careem employs women drivers in Pakistan, Jordan, and Egypt. In Saudi Arabia, 80% of the company’s customers are women.
BlaBla Car: Your Car Buddy
The unique business model of the BlaBla car has grabbed the attention of many! It doesn’t focus on full-time drivers; instead on anyone who has a car. The person can list his/her vehicle and identify the route on the app, and anyone who wants to join them can share the expenses. BlaBla car offers a rating scale for drivers- “Bla” for quiet types, “Bla Bla” for chatty ones, and “Bla Bla Bla” for the ones who just don’t stop talking.
Ola: Ride Share and Car Rental
Ola is a ride share company from India and has a presence in New Zealand, Australia, and the UK. It offers ride share services for various budgets- it has cheap rides to luxury rides. There are options to hire drivers, rent cars, and so on. Ola drivers get paid daily, and it offers 24/7 support. For travelers, there are plenty of options available to choose from, along with comprehensive insurance and roadside assistance.
Hitch: Long Distance Ride Sharing App
Hitch operates between Austin and Houston, two major American cities, 3 hours drive from each other. Hitch matches riders and drivers heading to cities. Trips start at only $25, which makes Hitch quite popular in both cities. Same-day bookings are allowed in hitch ride sharing, so if you make your plan to visit the city in a hurry, you will get a ride.
CereRides: Budget-friendly Solution
CereRides is an on-demand real-time ride-sharing app. It is equipped with the latest features and functionalities, like multiple payment modes, real-time tracking, and feedback options, and can be customized as per unique business needs. CereRides is the best solution for people looking for a budget-friendly app.
Via: Huge Signing Bonus
Via started its journey from New York and is now active in 20 countries around the world. In six countries, it runs under its own brand, while in the rest of them, it has partnered with local companies. The moment a rider books a ride, he is instantly connected with riders traveling the same route. It helps riders in reducing their carbon footprint. Via provides its drivers with a $400 signing bonus and the flexibility to drive whenever it’s convenient.
Target Audience of Ride Sharing Apps
Millennials use a ride sharing service more than people who are over 50. Similarly, generation z is tech-savvy and uses smartphones and ride sharing apps. In a similar study, it was observed that people who live in cities and have a yearly salary of $75000 choose ride sharing services to avoid congested modes of transportation.
Major Benefits of Ride Sharing Apps
Increased Visibility
The majority of people have smartphones, and for them, using an app to book a ride sharing service is easy and convenient. With the dedicated ride sharing app, the business can increase its visibility and reach more people.
Real-time Location Tracking
Customers can track their rides in real-time. The driver and the rider can determine the exact location of each other without any problem. The rider gets to know in how many minutes the can would arrive.
Feedback
Both passengers and drivers can share their feedback when the ride is over. It helps others to know the passenger and driver ratings before booking.
Monitoring Driver Efficiency
With a ride sharing app, the business can monitor the driver’s efficiency, fuel expenditure, vehicle utilization, etc. It’s a great way to monitor driver efficiency and ensure there is no misuse.
Improved ROI
Ride sharing apps are a great way to improve ROI. With an app, the business can get in touch with more customers, generate more leads, and increase revenue.
Wrapping Up
With the popularity of ride share apps, ride and rental app development have seen a surge. On-demand ride sharing apps have become a necessity for people residing in cities and have become an indispensable part of their lives of people. If you are planning to start your own ride sharing app business, get in touch for a ready-to-use cab booking solution.
FAQs
Is there any alternative to Uber and Lyft?
CereRides and Careem are great alternates to Uber and Lyft that can be utilized.
What’s the cheapest transportation app?
Bla Bla is the cheapest transportation app.
What’s cheaper, Uber or Lyft?
Uber is cheaper than Lyft.
What’s the best ride share app to work for?
Via is the best ride share app to work for as it provides a signing bonus of $400.
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