Market Overview

The market for ride-hailing apps produces more than $US 200 billion revenue each year and continues to grow at a steady pace. Currently, all the major apps follow a Web2 model, involving fiat currency. While some of the players are beginning to experiment with wallets and crypto payments, progress is slow due to the size of these corporations and their limited incentive to innovate.

That is where Tuk-Tuk has the chance to disrupt.

Tuk-Tuk's model reduces the typical ride commission from 27% (traditional services) to 15%, increasing driver earnings and making rides cheaper for users. As the only Web3 ride-hailing app currently in the market, Tuk-Tuk is poised to capture a growing share of this expanding market.

The graph below highlights the growing market for ride-sharing services, showcasing Uber's active user statistics from 2017 to 2023 and projections for the global ride-sharing market revenue from 2017 to 2025.