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.