Renters across the country are taking advantage of the surge in ridesharing services to make the most of the ride-hailing boom.
That’s according to a new report from Seatac, which estimates that more than 1.5 million US renters are using ride-sharing services, and that number is growing at a pace that could make them the biggest drivers of ride-share growth in the United States.
According to the research firm, ride-shares in the US increased by 1.3% last year, and by 5% in the first quarter of this year.
That means more than 5 million US rideshare users are now riding through ride-hire apps like Uber, Lyft, and Sidecar.
The study estimates that about half of the total growth in US rideshares comes from Uber and Lyft, with the remaining riders mainly from other ride-and-ride companies.
Uber is a particularly big player, with a share of the market of about 12%, followed by Lyft at 9%.
Seatac’s research estimates that Uber’s share of US rideshipped rides has increased by about 50% over the past year.
The firm estimates that rideshare companies like Uber and Sidecars are now the largest drivers of growth in American rideshare, with both of them accounting for about 15% of the US rideshares.
It’s not just Uber and its rivals that are making huge gains.
Ride-haring companies like Sidecar and Uber are also increasing in popularity, with rideshared rides rising by around 20% over last year.
“Over the past five years, both Uber and UberX have become more popular, as more Americans have access to ride-service technology, and there are more drivers for them,” said Robert E. Ruggles, Seatanet’s senior analyst for ride-rentals.
Ridesharing apps have also become a big draw for those who want to try their luck at becoming a ride-hare driver.
The research firm estimates there are now about 2.6 million ride-havers on Uber and 2.5 on Lyft, both of which have increased their share of rideshare rides by around a quarter since the beginning of 2017.
And those rideshare drivers are increasingly finding themselves on the receiving end of more aggressive competition. According