Should Uber Worry About Its Competitors in 2017?
Uber has completely disrupted the transportation industry and it is now the most dominant multi-billion ridesharing company in the world. Since its founding in 2009, it now operates in numerous countries around the world. At its current rate, does it really have any competition to worry about going into the next year?
Aside from local taxi cab drivers and their constant protesting, Uber currently does not have any major competitors that pose a serious threat to its business. It has not only established the gold standard for ridesharing, but it has also scaled itself to the point where other Uber copycats are only able to scratch the surface. Nevertheless, these competitors continue to try to occupy an unfilled but in demand niche.
Lyft is one of Uber’s competitors that was developed in 2012 as a ridesharing app. It has the same features as Uber with the exception of its drivers – they are all registered with the Taxi and Limousine Commission. Sidecar is another competitor that was founded the same year as Lyft. Its unique selling point is that the driver gets to set the price for each ride. Riders receive this information and choose the driver they want to travel with.
With respect to North America, Uber is completely dominating the ridesharing space. Lyft and Sidecar are still doing well for themselves but they will be unable to crack Uber’s winning streak unless a miracle happens.
There is one weak point in Uber that might hold it back from complete world domination: Asian markets. Throughout European and Asian countries, Uber faces unique problems and new competition. Rivals such as Ola, Didi, Gett and many more have established themselves in these countries, turning Uber into the underdog.
Rumor has it that these local services are starting to form alliances in order to keep Uber at bay. If Uber has no intention of being profitable in Europe and Asia, there will be no problem. However, if Uber’s investors have world domination in mind, they will have to think on their feet and spend their funds more efficiently if they want to crack this puzzle. The ridesharing competition just got a lot more interesting!
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