Why Latin America is the next stage for global ride-hailing dominance

The competition in the ride-hailing industry has been one of the highlights of this decade. The competition which started from Uber and Lyft has now notched-up due to the entry of many new players both in international as well as regional markets.

However, it’s also true that with time the number of competitors has dwindled leaving only a few prominent names. And all of them are now looking for a geographic expansion which will also serve as the benchmark as to who will become the global leader in the ride-hailing market.
According to Goldman Sachs, the ride-hailing industry will be ballooning to a mammoth $285 billion by 2030. This can be further escalated as China’s Didi Chuxing is giving a great competition to Uber. In fact, it has surpassed Uber as the world’s most valuable startup. Didi is showing no signs of slowing down.
After establishing its ride-hailing services in China, Didi is now eyeing towards another region of the world that still has a potential ride-hailing market and vast opportunities that are yet to be explored by any taxi giant. Latin America is a region which fits perfectly for Didi’s vision. Yes, Latin America is emerging as a land of endless taxi opportunities. Let’s see how?
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