A Falling Tide Sinks All Ships |
NEWS |
Given all the noise and investment in the areas of connectivity and automation, there can be little doubt that the biggest transformation of personal mobility in the past decade has been the ride-hailing revolution. Advancements in Artificial Intelligence (AI) to deliver optimized and low-cost routing, combined with leveraging the ubiquitous smartphone as the primary User Interface (UI) for both drivers and riders, have made ride hailing a major personal transit mode across the entire world. Therefore, as the COVID-19 pandemic and the resultant measures taken by governments to contain the spread of the virus had the effect of collapsing the demand for personal transit, demand for ride hailing has similarly contracted during 2020, just like it has for all of the mobility modes open to consumers, such as public transit or the use of private vehicles. Data published in ABI Research’s Vehicle and Mobility Market Data (MD-MOBI-105) showed a global contraction of 59.1% in 1H 2020.
Two questions are hanging over the future of the ride-hailing market:
1) How can ride-hailing operator…
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