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Uber rides in top gear and trims loss in the fourth quarter of 2017

The rapid rise of ride-sharing platforms such as Lyft and Uber around the globe is touted to disrupt the transportation industry (Tier 1 cities have already seen the shift).

According to KraneShares, the “passenger economy” is forecasted to contribute $8 trillion to the global economy by 2050. As more and more people start using ride-sharing platforms, a ripple effect on other factors like car ownership, people mobility, the insurance industry, navigation services and so on, is not far away.

Ride sharing users expected to reach 684.4 million by 2022

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