Comment from James Hodgson, Smart Mobility Principal Analyst at tech market advisory firm, ABI Research:
Lyft held a market share of 31.7% in 1H 2020, representing the closest competitor the dominant Uber, which held 69.1%. While the market has consistently grown at double digits, profitability has proved challenging, with competition by trip subsidies and driver incentives impacting the bottom line.
This deal is a very positive sign for HERE’S prospects in smart mobility. In cities, where consumers typically navigate from “place” to “place”, rather than from address to address, smart mobility fleet operators need access to a fresh and comprehensive database of “places”, and a high-quality search capability. The established automotive mapping and location intelligence suppliers (HERE and TomTom) have historically found their search capabilities and places database falling short of what Google and MapBox can provide.