The ride-hailing industry is characterized by stiff competition and new businesses are entering the fray every year. By 2026, the market size for ridesharing services is expected to more than double compared to 2021. For companies to thrive in this fiercely competitive landscape, they must optimize their routing systems to expedite pick-ups, match demand, and deliver more rides per driver for maximum profitability.
Ridesharing services need accurate and up-to-date POI data to function. However, the underlying maps that enable their operations are outdated, and changes in the physical world are not reflected nearly as quickly as needed. A lack of current and contextual information can cost rideshare companies in terms of lost driver productivity, rider churn, and overall operational inefficiency.