Ridesharing services on pace to increase until 2020

For many travelers in an urban center like New York City, they would sooner pull out their cell phones to call an Uber before hailing a taxi. According to Emarketer, the number of travelers that have hailed a ridesharing car has increased more than 20 percent year-over-year. In its analysis, Emarketer anticipates that the market will continue to grow, albeit at a slower rate, through 2020. Over 20 million people will use ridesharing services by that time, it estimates.

That continued growth is partly fueled by new ridesharing services that have entered the market in recent years. In New York City alone, Uber competes with several other apps, including Gett and Lyft. In Boston, there is a new competitor: Safr. Each of these new apps must differentiate itself from the strongest market players. Safr, a Boston-based company, caters to a niche of the market, offering riders the chance to ask for female drivers. Lyft offers an inclusive company culture, which sets it apart from Uber, known for its aggressive expansion in cities around the world.

A new report suggests that ridesharing will grow through 2020.