The Market Monitor Minding the Nation's Business
There is a new ride-hailing service platform entering the Philippine market soon and it is called the inDrive, a US-based global mobility and urban services platform which is looking to offer its services in Manila, Cebu, Davao, Bacolod and Baguio.
The Global mobility and urban services platform inDrive wants to solve mobility challenges in the country and change the local ride-hailing market with its unique peer-to-peer model and service offerings that provide users with greater transparency and choice.
“We are looking forward to serving Filipinos and strengthening the local mobility sector,” said Arsen Tomsky, the inDrive founder and CEO. “Ride-hailing services are not just a matter of convenience, but a necessity. As the world returns to its busy state, moving around can be a challenge, particularly for people who do not own vehicles. We hope to ease this burden, while providing opportunities for drivers to earn more.”
inDrive’s app allows passengers to propose a fare for their ride. Drivers can accept, decline or make a counter-offer, without the risk of being penalized. Unlike other mobility apps, inDrive’s fares are not dictated by an algorithm; the app thus provides greater transparency to both parties, giving passengers greater freedom of choice, and drivers greater control over their income.
The app also provides passengers with a broad range of options when selecting their ride, including fare, expected arrival time, car model and driver rating. Similarly, drivers can choose to accept ride requests that they deem cost-efficient, profitable and convenient.
inDrive prioritizes passenger and driver safety. Applicant drivers go through comprehensive background checks, including verification of necessary documents, licenses, and permits. Passengers can rate their rides and provide feedback on driver behavior and service quality. In addition, the app has built-in safety features: passengers can share trip details with trusted contacts, with real-time GPS tracking during rides. The app features an emergency button to contact authorities, and has a dedicated support team on hand 24/7.
The Philippines is an important focus for inDrive’s expansion in Southeast Asia, where the Once it has established its presence in key cities in the country, it will seek to build partnersthips with local companies, to deliver close and valuable service to its customers.
Asia had the largest ride-hailing and taxi market in 2022, with a 60 percent share of the global market, which is forecast by Statista to hit $330.80 billion this year. In Southeast Asia alone, the ride-hailing sector is expected to be worth $20 billion by 2025. Market growth can be attributed to strong demand for more TNVS providers, amid rising mobility requirements.
Currently one of the world’s fastest-growing ride-hailing service platforms, inDrive was recognized by data.ai (formerly App Annie), as the second most downloaded mobility application in 2022, with around 175 million downloads worldwide. inDrive currently operates in 614 cities in 47 countries, with regional hubs in the Americas, Asia, the Middle East, Africa and countries in the CIS. Its largest markets are Mexico, Kazakhstan, Brazil, Columbia and Egypt.