Comprehensive Insights into Uber’s Revenue and Usage Statistics

Uber has revolutionized the way we travel.

This ridesharing mobile app connects riders with drivers in just a couple of clicks and charges the rider’s credit card automatically. No cash or currency is exchanged in the vehicle.

Uber is a more convenient and affordable way to get around than a traditional taxi cab. Plus, it’s a way for drivers to earn some extra money on the side, while driving their own vehicles.

The Uber business model is very simple. They connect riders with drivers and take a percentage of all transactions.

But at the end of the day, Uber is just a mobile app.

Users download it from the Apple App Store and Google play store, the same way they would download any other app — including yours.

So for those of you who have a mobile app or plan to build one, it’s always a great idea to follow the lead of those who succeeded before you. To say Uber is a success is an understatement.

Don’t get me wrong; I’m not saying that you’ll be the next Uber or completely revolutionize an industry the way they have, but don’t sell yourself short. Either way, you can still learn from their business model and path to success.

This guide will cover the latest Uber revenue and usage statistics. You’ll see how this business has been booming, and how you can apply those same concepts to your own app.

Key Uber Statistics

• Uber has a global market value of $72 billion.
• Uber generated $12 billion in gross bookings in the most recent quarter.
• There are more than 75 million active Uber riders across the world.
• Uber is available in more than 80 countries worldwide.
• Uber has completed more than 5 billion rides.
• Over 3 million people drive for Uber.
• In the United States, Uber fulfills 40 million rides per month.
• The average Uber driver earns $364 per month.

Uber United States Market Share

While the idea of Uber was born in Paris back in 2008, the company’s first ride took place in San Francisco. That’s where the Uber headquarters is still located today.

With that in mind, I think it makes sense to look at the US market share before we analyze any international data.

Based on the graphic alone, it’s clear that Uber controls the market share here in the United States. But with that said, they aren’t poised for domination in the coming years.

Let’s look at the last two years. In 2017, Uber had a 74% market share in the US, compared to Lyft at 22%. In 2018, Uber controlled 69% of the market share, while Lyft rose to 29%.

Year	Uber Market Share	Lyft Market Share
2017	74%	22%
2018	69%	29%

As you can see, Lyft is slowly but surely taking a percentage of the ridesharing industry in the US. However, the lion’s share is still going to Uber.

But based on this trend, it appears that these figures will start to balance out over the course of the next few years. We’ll take a closer look at Uber’s competitors as we continue through this guide.

Uber Global Penetration

Three years after the concept of Uber was developed in Paris, they launched in that same city with their first international ride in 2011.

Over the next few years, Uber would begin launching in other cities across the world.

• 2012 — London, United Kingdom
• 2013 — Mexico City, Mexico
• 2013 — Taipei City, Taiwan
• 2013 — Johannesburg, South Africa
• 2013 — Bangalore, India
• 2014 — Beijing, China
• 2014 — Lagos, Nigeria
• 2015 — Nairobi, Kenya

The list goes on and on. Uber began penetrating markets in every corner of the world. Here’s a look at where Uber is available today.

It’s quite remarkable how this company has been able to penetrate markets worldwide over the span of a decade.

This just goes to show you the power of mobile applications. Anywhere users can download a product from an app store is a potential market for your business. Uber clearly recognized this and expanded accordingly.

Uber Competition

As we’ve briefly mentioned, Uber has competitors.

When the concept first came to fruition, taxi cabs were the biggest competition. But today, there are other ridesharing apps, like Lyft, that have a similar business model.

We’ll take a closer look at these competitors with real data to see where Uber stacks up.

Ridesharing vs. taxi cabs

New York City seems like the taxi capital of the world. Whenever I picture a NYC street, I’m thinking of the roads covered with yellow cabs.

But over the last five years, ridesharing usage has been able to penetrate and ultimately surpass the taxi cab market share in New York. Here’s a comparison of taxi rides to ridesharing apps on an annual basis in NYC.

The growth rate of ridesharing in New York City is nothing short of astonishing.

Rideshares grew by more than 3,400% in just four years. While on the flip side, the number of taxi rides decreased by 26% over nine years.

Clearly, the trends are tilting in favor of ridesharing, which is good news for Uber.

Uber vs. Lyft vs. Taxi cost

Now let’s take a look at the cost of an Uber ride compared to the competition. Here’s the average cost of a 5.5-mile ride in five major US cities.

For the most part, Uber is cheaper across the board and significantly less expensive in some cities than others. If you’re going to take a taxi in Boston, the rate is going to be nearly 3x higher than an Uber.

In terms of ridesharing apps, the cost of an Uber ride is slightly less than

Average hourly earnings per driver

Platform	Average Hourly Earnings	Driver Satisfaction
Uber	$15.68	49.4% satisfied
Lyft	$17.50	75.8% satisfied

Now you know how much drivers make per month, but that doesn’t tell us what their time is worth. Here is some additional data on the average hourly earnings for Uber drivers.

On average, an Uber driver makes $15.68 per hour. That’s not bad, considering the Federal minimum wage in the US is $7.25 per hour.

However, that hourly rate for drivers is before expenses. Remember, Uber drivers are responsible for their own vehicles, so you have to factor in things like:

• Gas
• Insurance
• Depreciation
• Maintenance

Lyft drivers earn a bit more money at $17.50 an hour, on average. But Lyft drivers are also happier.

Age also impacts hourly earnings for both Uber and Lyft drivers. Here’s a breakdown of driver age groups:

• 18-30: $17.98 per hour
• 31-40: $17.17 per hour
• 41-50: $16.45 per hour
• 51-60: $16.15 per hour
• Over 61: $14.57 per hour

As you can see, there is more than a $3 per hour difference between the youngest and oldest age groups.

Uber vs. Lyft riders

Now we’ll see if there is a major difference between Uber riders and Lyft riders.

Aspect	Uber	Lyft
Gender	Lower percentage of women	Higher percentage of women
Age, Interests, Brands, Pop Culture	A lot of overlap and commonality

What does this tell you?

Overall, I think the ridesharing market in the US is the same, regardless of which platform they are using. So it will come down to things like customer experience, promotions, price, and marketing to sway customers toward one app over the other. GrubHub dominates this category. UberEATS still has quite a bit of catching up to do. But as you can see from this graph, GrubHub is on the decline, while UberEATS is on the rise.

Platform	Market Trend
GrubHub	Declining
UberEATS	Rising

In some of major US cities, UberEATS controls the market share. This is especially true in Texas.

• El Paso
• Fort Worth
• Austin
• Dallas
• Houston
• San Antonio

UberEATS is the most popular food delivery service in each of those cities.

Uber is using their basic platform to facilitate other on-demand services. They have even offered UberCHOPPER in select cities, although they are definitely targeting a more specific niche with these on-demand helicopter rides.

Uber has also experimented with self-driving cars, which has caused some controversy after one of these vehicles struck and killed a pedestrian in Tempe, Arizona.  

Between their global expansion, valuation, and innovative efforts, Uber is a dominant force in the technology industry.

Conclusion

Uber is part of the way we live.

In some instances, it’s become a verb, in addition to the name of a business.

But at the end of the day, Uber is a mobile app. This app gets downloaded by users the same way they would download any other app. This just goes to show you how much money can be made with mobile apps.

You don’t need to revolutionize an industry or become the next Uber to have a successful app. There are still plenty of other ways for you to make money.

For those of you who haven’t developed your app just yet, you can learn from apps that came before you, like Uber.

What elements of Uber’s business model can you apply to your own mobile app?