Launching a ride-hailing app in the UK: Things to consider
The ride-hailing industry in the UK is flourishing, and several new businesses are entering the market to earn their own share of the revenue. Join this prospering market by launching a top-notch ride-hailing application and gain an edge over other businesses operating in the niche. A sneak peek into the thriving ride-hailing market in the UK A recent report from Statista has given the statistics below that stress the significance of starting a ride-hailing business in the UK. The revenue in the ride-hailing industry sums up to US$6,768 million in 2020. The revenue is expected to grow at a CAGR of 11% for the years 2020-2023, amounting to a market volume of US$9,244 million by 2023. User penetration is 21.8% in 2020 and is expected to reach 27.3% by 2023. Things to consider before getting into the app development Analyze the market Several new businesses have emerged into the UK ride-hailing market, so ensure to study the market and come up with a USP for your busi