As smartphone usage has increased rapidly over the past decade, ridesharing has become an increasingly popular social and business trend. The number of people sharing everyday rides worldwide has increased for several reasons, including saving money and time.
There’s no surprise so many entrepreneurs are keen to enter this industry by launching their rideshare app in light of the projected market value of the global ridesharing industry reaching $185.1 billion by 2026 from $85.8 billion in 2021.
With these factors in play, ridesharing is going nowhere. Therefore, one of the most exciting questions is: how can you develop a ride-sharing application?
A successful ride-share app results from many crucial steps, ranging from due market research to selecting the core features and launching a strategic execution plan. Here we will give you some simple steps to make your ridesharing application in this article.
Must-Have Features of Ridesharing Apps for Riders/Passengers
Ridesharing apps have significantly different passenger and driver sides. On this basis, we feel that you should include some of the following key features on the rider’s side in your new ridesharing app:
1. Geolocation
The app automatically creates a route map as soon as the rider selects the pick-up and drop-off locations through the app. This is done due to the geolocation capabilities of the app.
2. User Profiles
The user’s name, location, the route they prefer the most, and the mode of transportation they prefer should all be listed in their profile.
3. Search Filters
A set of criteria for searching is crucial since it will help passengers locate drivers traveling along the route they have chosen. It would also be helpful if riders could sort offers based on price, type of vehicle, and possibly even the driver’s gender (for an added sense of safety) in addition to how much the ride will cost.
4. Ride Cost Estimation
The ability to estimate the cost of a trip based on different routes, vehicles, traffic conditions, etc., can assist riders in making an informed choice.
Ridesharing Apps for Drivers
In the case of the driver’s side of the equation, there are certain features you cannot afford not to take advantage of. Below are some basic features you should add to your ridesharing app on the driver side.
1. Login
This feature allows drivers to log in with their credentials to the app.
2. User Profiles
Driver profiles should include names, phone numbers, license numbers, locations, and frequently traveled routes.
3. Accept or Reject the Request
As well as providing the driver with the travelers’ current position, it will also provide them with their final destination. Depending on the driver’s discretion, the assignment request may be accepted or rejected.
4. Trip Information
By doing this, the driver can evaluate all of the trip’s pertinent information, including the user, the pick-up and drop-off spots for their fellow commuters, and the estimated mileage for the trip.
5. Integrated Navigation
This feature is aimed at helping drivers find the shortest, most efficient route that will take them to the pick-up and drop-off locations. The real-time traffic conditions on the best route are used to generate the best route suited for a real-time situation.
Prospects for the global rideshare market
Ridesharing is rising as cost-saving, environmentally friendly travel is becoming increasingly prominent in the global transportation sector. From 2020 to 2025, ridesharing is expected to grow 19.2 percent annually to reach USD 209.6 billion by 2025.
1. Eco-friendly vehicles
Ridesharing can help reduce traffic congestion and emissions, which are pressing concerns for capital cities and cities with a high population density. The number of electric cars in ridesharing fleets is increasing as environmental awareness grows worldwide.
2. Cheaper fares
As platforms increase the number of electric vehicles they offer, we might also see a decline in ridesharing fares. Switching to environmentally friendly vehicles could reduce ridesharing prices since fuel costs make up a significant portion of the costs.
3. Market Expansion
The majority of ridesharing services are currently located in densely populated big cities. Technology advancements and increasing demand may soon lead to ridesharing services appearing in smaller towns and rural communities, enabling local residents to take advantage of low-cost micro transit.
Developing a good rideshare app requires an understanding of its fundamental principles.
How to develop a ride-sharing app?
We have now established and understood the must-have features from all the users’ points of view, allowing us to move on to conceptualizing and developing the actual product, which is how to build a ridesharing app. Below are the steps:
1. Research the market
An analysis of the market is one of the most important steps to ensure the success of any product. Having already stated that the ridesharing app market is growing rapidly, this sector has great potential because it offers convenient and economical transportation.
In addition to establishing that the market has great potential, analyzing the competition is equally important.
2. Developing a strategy
In this phase of the rideshare app development process, the developers identify the appropriate steps and tools based on the application’s desired functionality and plan the project fulfillment more accurately.
3. UI/UX designing
An experienced team of designers will construct a prototype for you so you can see how your application will work and make necessary changes (if required). An application’s interface layout refers to the elements of the user interface, and you can create a static or interactive prototype with buttons and transitions.
4. Software development
This stage involves implementing the app’s functionality. Choosing the appropriate tech tools for your development team will depend on the platform on which your solution will be built.
5. Quality Assurance testing
QA experts perform manual and automated solution verification to detect bugs and failures in the software and eliminate them. In the event that there are errors, the testing team will give the final version of the app back to you to fix it and then return the project to you.
6. Launch of the app
An application is deployed when it is placed in the Google Play Market and App Store. As a result, the final product must adhere to the terms and regulations of the platform to be accepted and successfully launched.
Key Players in the Ridesharing Industry
Throughout the world, rideshare apps have experienced a tremendous surge in popularity with the rise of the industry.
Ride-sharing apps that lead the way include:
1. Uber: Currently ranked as the world’s largest ridesharing company with 118 million users as of 2021, it is responsible for the rapid growth of the on-demand economy around the globe.
2. Lyft: As Lyft has a very similar business model to Uber, which is quite similar in many ways, Uber is its main competitor in the USA with a 32% market share.
3. Grab: Grab is currently the leading rideshare service in Southeast Asia, but due to its business model based on the idea of a super app, it is different from both Uber and Lyft in the sense of its business model
Conclusion
Utilizing the power of digitalization, ride-sharing is quickly gaining traction. Companies, startups, and entrepreneurs can benefit greatly from the changing dynamics of ride-sharing. Further, mobility will be shaped by innovation. Getting started with or scaling a ride-sharing business is our specialty. Our team at SynergyWorks is composed of multidisciplinary professionals who bring hands-on experience in their respective domains and emerging trends to the table so that we can develop innovative ride-sharing applications.
Also Read: Top 10 Profitable Software Startup Ideas
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