Uber Is the Premier Demand Aggregator That Shouldn’t Be Left Behind

Uber is the largest on-demand ride-hailing provider in the world. It has matched riders with drivers, completed trips over billions of miles, and, at the end of September 2024, has 161 million customers using its ride-hailing or food delivery services at least once a month. We view Uber as a leader in the fast-growing ride-hailing and delivery markets, which we expect to grow at least 15% annually until 2032. The firm faces ride-hailing competition from players such as Lyft (mainly in the US), but Uber is the clearly superior network.