NEW YORK, NY --(Marketwired - October 12, 2016) - 7Park Data, a leading consumer insights company, today released its October 2016 Insight Series report, "The Trillion Dollar View: Ridesharing," in which the company analyzed consumer preference and market trends shaping the global ridesharing industry. Using its App Intelligence and Receipt Intelligence platforms, 7Park Data analyzed content sourced from more than one billion consumers of the world's largest ridesharing players. The comprehensive report is part of the company's Insight Series that offers unparalleled insights into global marketplace trends. The full report is available for purchase at "Insights Series - The Trillion Dollar View: Ridesharing."
"The 7Park Data ridesharing report provides a previously inaccessible yet vital view into this industry as it rapidly replaces the transportation paradigms of yesterday. Ridesharing, and its tangential impact, presents a trillion dollar opportunity. Business leaders, investors, and innovators require holistic, data-driven insight into how consumers are actually using these services to be prepared for capitalizing on the new industries, economies and companies that will be born out of this market," said Brian Lichtenberger, CEO and co-founder of 7Park Data.
Select insights from the report include:
- Trillion dollar potential addressable market presents opportunities beyond people transport. If the premise holds that the ridesharing industry serves as a substitute for car ownership today, and the costs of ownership thereof, 7Park Data calculates the Uber's potential addressable US market to be in the ballpark of $2.2 trillion.
- US ridesharing growth advances, but rate of growth slows. Based on the install base and monthly average users (MAU) for Uber and Lyft, 7Park Data estimates that 13 to 15 million US adults will use a ridesharing service by the end of 2016.
- People are ridesharing more often and spending more as they do, irrespective of platform choice. New product choices, new geographies, and new pricing models are all enticing riders to choose to rideshare more often and repeatedly, positively impacting their total spend with the services.
- Duopolistic battle in India rages, as players fight for immense market opportunity. Total MAUs of India's two leading ridesharing outfits approximates to half (52 percent) of the market, translating to roughly 114 million potential ridesharing participants among active smartphone users.
- Disruption in Brazil; ruling results in Uber's watershed moment. Uber's 2014 arrival in Brazil has significantly contributed to the stalling of user penetration and erosion of active usage (WAU) between its two major native incumbents, 99Taxis and EasyTaxi.
"The growth of the ridesharing industry is not without barrier or constraint, including regulatory battles, 'race to the bottom' driver acquisition strategies, and access to growth capital. However, it is clear that human transport is not the industry's end-game," said Byrne Hobart, lead analyst at 7Park Data. "The latest 7Park Data Insight Series uses advanced consumer intelligence capabilities to analyze the expanding 'mobility market' and forecast the potential impact of today's behaviors on the mobility market as it matures."
About 7Park Data
Powered by real-time behavioral data from more than one billion global consumers, 7Park Data is the trusted source of consumer and business insight for industry-leading global businesses. Our proprietary insights platform contextualizes anonymous viewing, mobile, web and purchasing data-collected in real-time from more than 1 billion consumers across 100+ countries-with in-house expert analysis to deliver unprecedented clarity into marketplace trends, evolving customer preferences, and investment opportunities. Data-driven businesses depend on 7Park Data intelligence for more accurate benchmarking, forecasting, and strategic decision making. 7Park Data was founded in 2012 and is headquartered in New York City. For more information, please visit www.7parkdata.com.