India Ride-Hailing Market Assessment, By Mode of Booking [Online, Offline], By Offering [Affordable, Premium], By Vehicle Type [Two-Wheeler, Three-Wheeler, Four-Wheeler], By Propulsion Type [Internal Combustion Engine (ICE), Electric], By Region, Opportunities and Forecast, FY2018-FY2032F

India ride-hailing market is projected to witness a CAGR of 18.78% during the forecast period FY2025-FY2032, growing from USD 950.66 million in FY2024 to USD 3,766.79 million in FY2032. The market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to convenience, affordability, and flexibility alternatives to traditional transportation methods.

The current market is dominated by ANI Technologies Pvt. Ltd. (Ola) and Uber India Systems Private Limited (Uber), which cover the whole country with their services and command a decent market share. For companies, Indian youth form a huge consumer base that is increasingly dependent on technology to complete daily chores, including transportation. Ride-hailing services are easily accessible to users as smartphones enable instant bookings with only a few taps. This convenience is attractive to younger people and well-suited for the older populations who do not have to get much education regarding adopting the service. Companies also add innovative features and offer regular discounts and promotions to increase customer consumption.

In addition, new entrants and innovative business models are making the competition stiffer and giving consumers more options. New companies, like Rapido, have been able to grab attention quickly with bike taxi services and cater to the demand for faster, cheaper alternatives. Also, electric vehicles are changing the ride-hailing market in India. Companies continue to inject EVs into their fleet that support the government's intent to reduce environmental pollution to foster sustainable growth.

For instance, in January 2025, Blu-Smart Mobility Pvt Ltd launched its all-electric ride-hailing service in Mumbai. Initially, the company is launching its services on key routes, including airport rides and rental options from Goregaon to Bandra.

Changing Consumer Preference Drive India Ride-Hailing Market Demand

Rapid urbanization and evolving lifestyles are changing consumer preferences in India. As more people start migrating, the cities will have more congestion, driving demand for ride-hailing services. Ride-hailing services offer convenience, allowing users to book rides through mobile apps that highly favor the fast-growing lifestyle of cities.

Ride-hailing services also solve problems of first-mile connectivity, bridging gaps between the homes and public transport hubs. Additionally, with increasing congestion, consumers seek alternatives that reduce travel delays. Moreover, changing preferences also promotes sustainability. More and more consumers are becoming more environmentally conscious and prefer eco-friendly options. Integrating electric vehicles (EVs) into ride-hailing fleets aligns with this trend, appealing to users who prioritize green transportation.

For instance, in June 2024, Uber India Systems Private Limited launched its flagship electric vehicle service, Uber Green, in Kolkata. This service allowed users to book zero-emission rides across the city, including to and from Kolkata International Airport.

Affordability and Diverse Options Propel India Ride-Hailing Market Growth

The affordability and diverse riding options offered by ride-hailing companies play an important role in the growth of the market. Various ride options allow consumers to select services that best fit their financial constraints. This flexibility appeals to younger demographics and urban dwellers who travel often and prioritize cost-effectiveness over ownership.

The arrival of new players has further enhanced affordability through innovative offerings for drivers and passengers. For instance, INDSYSTEMS IT PRIVATE LIMITED (inDrive) offers a peer-to-peer pricing model that allows passengers and drivers to negotiate fares directly. In addition, the arrival of bike taxis has significantly taken the market to a more affordable path, particularly for people who live in urban areas and face congestion in traffic very often.  Companies often collaborate and offer innovative prices to gain market share and increase their influence in different cities.

For instance, in December 2024, Roppen Transportation Services Private Limited (Rapido) partnered with L&T Metro Rail (Hyderabad) Limited (L&TMRHL) to provide first and last-mile connectivity for Hyderabad metro commuters. Under this partnership, Rapido would offer a special discount for customers traveling to and from any of the 57 metro stations across the city.

Four-Wheelers Dominate India Ride-Hailing Market

The four-wheeler segment is currently dominating the Indian ride-hailing market due to the popularity of services offered by companies like ANI Technologies Pvt. Ltd. (Ola) and Uber India Systems Private Limited (Uber). These companies predominantly use cars to deliver their services, which cater to wider needs from budget-friendly to premium. People prefer the convenience and comfort of using such vehicles, especially those living in urban areas with persistent traffic congestion and parking challenges. Advanced safety features, such as live CCTV monitoring and emergency response systems, are also assured of safety during rides, making four-wheelers a first choice for users who value security. In addition, the push towards electric vehicles is transforming the four-wheeler segment as companies invest in EV technology to reduce operational costs and environmental impact.

In December 2023, Roppen Transportation Services Private Limited (Rapido), which was only a bike taxi and auto-aggregator company, launched Rapido Cabs, a cab booking service to expand its footprint in the India ride-hailing market.

Southern Region to Dominate India Ride-Hailing Share

The Southern region has the most significant market share of India's ride-hailing due to the concentration of ride-hailing service providers and a predominantly tech-savvy populace. This region also experiences high urbanization and disposable income, increasing ride-hailing services' usage significantly in cities like Bengaluru and Mumbai. Along with this factor, the concentration of population density and severe traffic congestion in a city makes using ride-hailing services a prime alternative to commuting through traditional transport.

Government initiatives in the southern states are also influencing the ride-hailing landscape. Electric vehicle-friendly policies introduced by the state governments align with the national goals of reducing pollution and enhancing sustainability in urban transport, pushing many ride-hailing companies to change their fleets to electric vehicles, which meet regulatory standards and appeal to environmentally conscious consumers. Moreover, companies are incorporating multiple features to increase their customer base.

For instance, in December 2024, Bengaluru-based startup Think Crazy Technologies Pvt Ltd (Metro Ride) is offering its unique services in Hyderabad that promise to offer safe and reliable transport for children (5-16yrs) to schools, coaching and after-school activities.

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Future Market Scenario (FY2025-FY2032F)

• Increased income of consumers and a corresponding increase in demand for convenience will foster growth in the ride-hailing market of India.
• Investment in technological advancement and streamlining the riding experience is expected to increase the overall efficiency and safety of hailing services in India
• The shift towards electric and hybrid vehicles is expected to enhance the sustainability and cost-efficiency of the ride-hailing market in India.
• Continuous collaborations and partnerships by ride-hailing companies are expected to enhance operational efficiency and service offerings in the Indian market.

Report Scope

“India Ride-Hailing Market Assessment, Opportunities and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of India ride-hailing market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	FY2024
Historical Period	FY2018-FY2023
Forecast Period	FY2025-FY2032
Projected Growth Rate	CAGR of 18.78% between FY2025 and FY2032
Revenue Forecast in FY2032	USD 3,766.79 million
Segments Covered	Mode of Booking, Offering, Vehicle Type, Propulsion Type
Regions Covered	North, South, East, West and Central
Key Companies Profile	Uber India Systems Private Limited, ANI Technologies Pvt. Ltd., Roppen Transportation Services Private Limited, Blu-Smart Mobility Pvt Ltd, INDSYSTEMS IT PRIVATE LIMITED, Carzonrent India Pvt. Ltd, Mahindra Logistics Limited, Savaari Car Rentals Pvt. Ltd, Fast Track Call Taxi Management Services Private Limited, Mega Cabs Limited.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, India ride-hailing market has been segmented into the following categories: 

• By Mode of Booking
  • Online
  • Offline
• By Offering
  • Affordable
  • Premium
• By Vehicle Type
  • Two-Wheeler
  • Three-Wheeler
  • Four-Wheeler
• By Propulsion Type
• Internal Combustion Engine (ICE)
• Electric
• By Region
  • North
  • South
  • East
  • West and Central

Key Players Landscape and Outlook

Key companies in India ride-hailing are strategically expanding their product offerings to attract evolving consumer demands and enhance their competitive edge. Companies like ANI Technologies Pvt. Ltd. (Ola) and Uber India Systems Private Limited (Uber) are diversifying beyond traditional ride-hailing services, venturing into electric bikes, electric taxis and even innovative upcoming projects like flying cars. Moreover, the advent of new companies like Blu-Smart Mobility Pvt Ltd (BluSmart) and INDSYSTEMS IT PRIVATE LIMITED (inDrive) in the market is intensifying competition and driving further innovation.

Companies are continuously collaborating and forming partnerships to gain market traction and the ever-evolving needs of the consumer. For instance, in October 2024, Roppen Transportation Services Private Limited (Rapido) partnered with IndoFast Swap Energy Private Limited to deploy 10,000 Piaggio’s Swappable e-autos across the country in the next 24 months.

Key Players Operating in India Ride-Hailing Market are:

• Uber India Systems Private Limited
• ANI Technologies Pvt. Ltd.
• Roppen Transportation Services Private Limited
• Blu-Smart Mobility Pvt Ltd
• INDSYSTEMS IT PRIVATE LIMITED
• Carzonrent India Pvt. Ltd
• Mahindra Logistics Limited
• Savaari Car Rentals Pvt. Ltd
• Fast Track Call Taxi Management Services Private Limited
• Mega Cabs Limited

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