What Is The Future Of Ridesharing Apps In 2021?

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What Is The Future Of Ridesharing Apps In 2021?

Ridesharing apps such as Uber, Lyft and BlaBlaCar are radically transforming the present and the future of the automotive industry. With the rising oil prices and the worsening of traffic situations; people are looking forward to alternatives to owning a car. As a matter of fact, the average driver in Los Angeles spends about 2.5 working weeks every year stuck in traffic. The traffic situation is almost similar in many cities across the globe. What is the future of ridesharing apps in 2021?

In a conference hosted by Uber, the former Chief Product Officer of Uber, Jeff Holden stated;

“We’ve come to accept extreme congestion as part of our lives. In the US, we have the honour of being home to 10 of the world’s 25 most congested cities, costing us approximately $300 billion in lost income and productivity.”

Ridesharing apps have enabled riders to enjoy their rides at reduced costs and without the stress of having to drive in heavy traffic. Moreover, they have helped cities to curb traffic by encouraging people to use ride-sharing apps with great discounts and deals. With the immense convenience that the ride-sharing apps have brought into our lives; it is only right to ask what is the future of ride-sharing apps in 2021. Also, considering the outbreak of the novel Coronavirus; how will the ride-sharing industry and the future plans of large companies be impacted.

The Future Vision Before COVID-19

Before the Coronavirus disease swept across countries and took over all the trending news. Large companies such as Uber, Lyft, Ford, and General Motors had talked about their plans for launching autonomous vehicles by 2021. The vision of these companies is to end car ownership and expand the reach of autonomous cars as the ultimate subscription service by 2025. As per reports, BMW is to launch an autonomous vehicle that is all-electric, in 2021.

Similarly, Ford has plans to launch an autonomous ride-share service in 2021. Uber is working on ariel ride-sharing solutions to solve the concerns of urban mobility in the US. By 2023, Uber has planned to make its aerial ride-sharing in Dallas and LA fully operational.

In 2018, various startups, venture capitalists and aerospace companies also came together and invested more than US$1 billion in 25 companies working on flying cars. These companies are surely leading people to dream about being lifted from the jammed roads and flying to their destinations. However, with the sudden outbreak of this epidemic, many economies are being impacted. This leaves us to the question, will the ride-sharing plans for 2021 be implemented any time soon?

The Future of Ride-Sharing Apps

Looking at the market statistics for ride-hailing, the future of ride-sharing apps looks bright. The revenue for the ride-hailing segment in 2020 amounts to US$216,810 million and is estimated to reach US$318,765 million by 2023 at a CAGR of 13.7%. These statistics demonstrate that ride-sharing is one of the fastest-growing segments of the online mobility market. Owing to the growing market, an increasing number of customers and companies are relying on and investing in ride-sharing apps. Investors are hunting for Ride sharing app development companies who can build an interactive app for them.

Here’s what you can expect in the future from ride-sharing apps:

Blockchain Technology Integration

By 2021, ride-sharing apps may integrate the blockchain technology within them. So, as to ensure higher safety and security of passengers. There will be stringent screening measures for drivers and improved security standards. However, to ensure the safety of both drivers and passengers, blockchain technology may be implemented for the screening process of riders as well. The blockchain travel portal that will come out after integrating will be amazing.

Autonomous Vehicles

Perhaps the most awaited change in ride-sharing is the availability of autonomous vehicles. Autonomous vehicles are expected to not only significantly lower the costs of rides but also enhance the safety of passengers. Eliminating drivers from the ridesharing equation; ridesharing apps will be able to provide 24-hour services with an advanced level of convenience and availability through autonomous vehicles.

What are the implications?

More advancements in ride-sharing can be looked forward to. However, with the unexpected outbreak of Coronavirus, it is difficult to predict much at the moment. No one knows what impact the disease may have on the economies of different countries and for how long will it prevail.

However, many countries are still continuing their daily operations and the people are continuing to use ride-sharing apps. Therefore, entrepreneurs seeking to leverage the growing ride-sharing market can target the US, UK, and UAE with their ride-sharing apps. Numerous companies provide white label solutions for different segments of the travel industry which can help in saving the time and cost of building a new ride-sharing app from scratch.

Judith Arevalo

I am a good Mom, have two active children. I am working in a beauty and spa company but now I also decided to make its own profession. So I am here to learning and teaching.

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