Since its foundation in 2009, the largest and the omnipresent ride-sharing enterprise named Uber Technologies has controlled the ride-sharing sector. Since then, it has grown to more than 60 countries and has also been worth around $70 billion lately, which made investors speculate whether Uber is really going to file for an IPO or not. According to Uber business model, the company provides a point-to-point carpooling, micro-mobility, transit network using automobiles and bikes, and food delivery company. Following Uber’s mission statement, the firm has developed its operations worldwide with 385 metropolitan operating areas since it was started in 2009. Uber does have its website plus smartphone app, which allows users to access and book their journey.
By 2019 Uber had just a 67% stake in the US and over 110 million users worldwide in the entire ridesharing service. Within the food delivery chain in 2018, Uber maintained a 24% market share. The entire market value of Uber was 90 billion US dollars in April 2019 which went down by USD 7.6 billion in May and then dropped to USD 82.4 billion. Recently, in an Uber financial report, the firm highlighted the companies' numerous competitors spanning from start-ups such as Zoox and DoorDash to technology heavyweights such as Amazon, Apple, and Alphabet.
Some of the major Uber competitor are listed below in various segments:
Ride-sharing companies: Yandex Taxi, Lyft, Careem, Ola, Didi, and Taxify
Personal mobility businesses: Bird, Skip, Lime, and Motivate (a subsidiary of Lyft)
Food delivery businesses: Amazon, GrubHub, Deliveroo, DoorDash, Zomato, Swiggy, Delivery Hero, Just Eat, Postmates, and Takeaway.com
Freight: NEXT Trucking, Total Quality Logistics, DHL, XPO Logistics, Coyote, Echo Global Logistics, Transfix, Convoy, and C.H. Robinson.
Driverless vehicle firms: Nuro, Alphabet’s Waymo, Apple, Zoox, May Mobility, Aptiv, GM’s Cruise Automation, Pronto.ai, Aurora, and Tesla.
This article is focused mostly on the Uber competitor in the ride sharing segment of its business, since it is the biggest revenue generator of the company. Moreover, it has also attracted a lot of competition owing its success in this industry.
Competitors of Uber in the Ride-sharing Services
Uber isn't the only business enterprise in the ride-sharing sector to offer its services including cab-rental, pooling of car rides and food delivery. A lot of other companies have also emerged to compete for the market share.
Lyft is an American transit ridesharing firm with the humorous pink moustache symbol on its car panel. The aim of a comical logo is just to make the users identify its ride cab easily amidst traffic. In 2012, this Uber competitor began its operations and has expanded its market to over 644 cities in the United States, Puerto Rico, Canada, and all across the globe. Lyft has been offering a mobile app and online booking portal for its users through which individuals may log in there and book their trip.
Uber vs. Lyft
Lyft has been one of the main Uber competitor in the ride-sharing sector. It holds a market share of 28 percent in United States, as per the statistics provided by Second Measure. Lyft gives its users just about the same facilities, such as maps as well as tracking using which customers can monitor the current position of their journey on the map and the remaining time of their ride.
DiDi is a taxicab and transportation services provider of the Chinese mainland and is another formidable Uber competitor. It was started by Cheng Lee in 2012, hence, the users are also calling it as the Chinese Uber. DiDi provides several services besides ride-sharing such as car sales and maintenance, leasing, financing of car buying, electric vehicle charging, and operations of the fleet.
Uber vs. DiDi
DiDi seems to be a strong Uber competitor. The DiDi smartphone app completes almost 10 billion passengers' journeys annually, as shown in a report. DiDi offers services in four hundred cities together with its affiliates. It has around 550 million mobile application users and has recruited almost 10 million drivers.
OLA was started in 2010 and OLA cabs is an Indian mobile app rideshare carrier. For example, an OLA cab provides a wide selection of services just like Uber which includes allowing its clients to reserve a trip in advance and also provides ride-sharing on hourly rentals. This Uber competitor offers different trips for its passengers based on the different economic categories.
Uber vs. OLA Cabs
In several nations including the United Kingdom, Australia, and New Zealand, OLA taxis have expanded their operations. As an Uber competitor it has effectively achieved its goal of reaching 250 cities involving 1.5 million cab drivers. Its revenue in 2018 stood at USD 310 million. OLA launched a new trial-oriented car-rickshaw program in Bangalore in 2014 to expand its company. This trial was subsequently successful and it was also introduced in other major Indian cities.
Bolt (Formerly Txify)
Bolt is a European ridesharing firm based out of Tallinn, Estonia. It is also nicknamed Txify. This Uber competitor has been expanding at a fast pace since it was introduced in 2013. Within six short years, the market has expanded across 34 nations in Europe, Africa, and America covering almost 150 cities.
Uber vs. Bolt
Bolt generally charges its passengers less and gives its drivers a good incentive than other rivals. As per the Bolt dataset, the firm has far more than 25 million customers who are using its app and also has contracted more than 500,000 drivers for offering a daily ride to its subscribers worldwide. By the close of 2018, their annual profits amounted to 79.7 million euros making it a strong Uber competitor.
Yandex Taxi belongs to a Russian IT firm providing ridesharing plus food service throughout the Middle East, Russia, Africa, and East Europe. This Uber competitor has become one of the world's top firms which are developing self-driving autonomous vehicles. Yandex N.V., a global Russian firm, has created Yandex Taxi, which provides its consumers over 70 online services in various locations throughout the world.
Uber Vs Yandex Taxi
Yandex Taxi belongs to a Russian IT firm providing ridesharing plus food service throughout the Middle East, Russia, Africa, and East Europe, making it an international Uber competitor. It has become one of the world's top firms which are developing self-driving autonomous vehicles.
"Grab Taxi" aka "My Teksi" is also a ridesharing firm established in Singapore. This Uber competitor operates throughout South Asia mainly in Vietnam, Indonesia Thailand, Myanmar, Cambodia, Japan, and the Philippines. The explanation behind its success is since the chauffeurs are not very technologically educated, they are provided with cell phones and taught about using their app. The application is incredibly easy to use and understand for both consumers and drivers.
Uber Vs Grab
By the close of 2016, Grab Taxi's operating earnings were 82.8 million American dollars and six thousand drivers worked for Grab. The value of the market share of this Uber competitor is USD 10 billion. It serves the same purpose as the app of Uber that is one has to install the app and will be ready to use the ride-sharing service.
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