Home US Ride Sharing Revenue Projected To Bounce Back in 2021 By 23% – $1.9B; Projected To Reach $3B By 2025
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US Ride Sharing Revenue Projected To Bounce Back in 2021 By 23% – $1.9B; Projected To Reach $3B By 2025

Rex Pascual Finance News Writer Author expertise
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The ride-sharing industry was one of the newest and fastest-growing industries in the world until the Coronavirus pandemic took hold in 2020. A year after the pandemic, the industry is starting to bounce back and looks poised to reclaim the momentum that it had lost. According to data presented by Trading Platforms, the ride-sharing industry in the US is projected to generate $1.9B in 2021, a 23% YoY increase from 2020.

Ride-Sharing Impacted By COVID-19 Pandemic in 2020; Recovery Expected in 2021

The global ride-sharing industry was badly hit as lockdowns were imposed all over the world, effectively halting global mobility. The US is the world’s largest ride-sharing market, generating almost $2B in 2019 but experienced a significant contraction in 2020. As a result of the pandemic, the US ride-sharing industry only generated $1.54B in 2020 – a 21% YoY decrease.

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As of May 2021, the situation has improved in several areas in the US, albeit not to pre-pandemic levels yet. In 2021, the ride-sharing market in the US is projected to generate $1.9B in 2021 – a 23% YoY increase from 2020’s pandemic stricken revenue numbers.

Forecast For Ride-Sharing Industry Still Bright Despite 2020’s Pandemic Ravaged Year

The ride-sharing market is expected to pass 2019’s pre-pandemic revenue numbers by 2022 when it is expected to cross the 2B mark for the first time. Projections also have the US ride-sharing market generating at least $3B by 2025 on an impressive Compound Annual Growth Rate (CAGR) of 13.55% from 2021-2025.

The global ride-sharing market experienced a similar YoY revenue decrease to the US market as a result of the pandemic. In 2021 the global ride-sharing market is expected to bounce back by more than 27% and generate $9.37B. The industry is expected to surpass pre-pandemic levels and the $10B mark by 2022 when it is projected to generate $12.39B.

Globally, the ride-sharing market is projected to grow at a robust CAGR of 12.42% from 2021-2025, resulting in a projected market volume of just under $15B by 2025.

Rex Pascual, Editor at Trading Platforms commented;

“Despite the outlier that was 2020, the future of the ride-sharing industry still remains promising. While the pandemic situation still remains fluid in many parts of the world, there is strong confidence in the industry’s ability to pick up right where it left off once the global situation fully stabilizes.”

Rex Pascual Finance News Writer

Rex Pascual Finance News Writer

Rex is an Editor who specializes in creating high-quality content about Esports, Sports, Finance, CBD and Tech. Rex is an experienced SEO writer who is passionate about creating content that is user-focused. 

Before working with Finixio, Pascual worked as a Senior Contributor for GiveMeSport, an SEO Content Executive for Gamesys and a Freelance Write for Write Label. Rex developed his content writing skills while studying at University where he received a Bachelor of International Studies. 

Rex is active in the finance space and uses his industry knowledge to write regular news posts for Trading Platforms. He uses accurate sources to deliver content that is timely, helpful and informative.