Ride-hailing solutions and global expansion, in conversation with Islam Abdul Karim, general manager, Yango GCC
What are the most important trends in the ride-hailing sector in the UAE?
With 24 per cent of global energy-related emissions coming from transportation, an expected 60 per cent increase in the next 30 years emphasises the need for sustainable transit. Ride-hailing services are helping reduce vehicle dependency, alleviate traffic, and cut carbon footprints. Seeing this, the UAE recently upped its 2030 carbon reduction goal from 31 per cent to 40 per cent. By 2023, the car-sharing industry is set to generate $82.51 million in revenue, while Dubai's car-sharing usage is expected to quadruple in two years.
Platforms like Yango ride-hailing service are crucial in fostering eco-friendly transportation networks. Leveraging technologies like the Internet of Things (IoT), they optimise routes and minimize waiting times, reducing emissions. For instance, Yango uses advanced technologies for route planning.
Moreover, the UAE's surging interest in electric vehicles (EVs), with an expected 30 per cent CAGR until 2028, aligns with ride-hailing services incorporating EVs into their fleets, supporting the UAE's 2050 net-zero emissions goal.
Yango's global ride-hailing user base has tripled in a year, with a 200 per cent growth and over 150 million rides, highlighting the soaring demand for innovative ride-hailing platforms.
How do you believe the ride-hailing industry will be developing in the UAE?
Navigating through rapid urbanization and evolving consumer behaviour, ride-hailing apps have become progressively appealing, particularly in urban areas that grapple with parking issues and population growth. The advent of hybrid working models post-pandemic further propels individuals to reconsider car ownership, making platforms like Yango attractive for part-time users. The shift is accentuated by the anticipated surge of the on-demand economy to $335 billion by 2025 and consumers' penchant for efficient, smartphone-enabled quick bookings. While the UAE sees projections of 293.22 cars per 1,000 residents by 2028, ride-hailing users are expected to reach 3.25 million by 2027. Initiatives such as Dubai's Urban Plan 2040 aspire to mitigate this by fostering a compact, efficient urban structure. Yango's innovative integration stands out in the dynamic ride-hailing market.
What are you showcasing during GITEX?
At GITEX 2023, we highlighted the prosperous outcomes of our UAE business operations and announced our new global office opening in DIC and plans for further company expansion in the UAE. We are committed to transforming global technologies into everyday services tailored for local enrichment. We unveiled Yasmina, an advanced Arabic human-like AI voice assistant. This empathetic digital companion surpasses basic functions, such as streaming music and controlling smart home devices, to revolutionize the user experience with tailored, intuitive support for the region.
Will you be launching in other Emirates?
Yango is an international tech company that successfully operates in more than 20 countries all over the world. We launched Yango ride-hailing service in Dubai in September 2022, then Yango Delivery and Yango Tech. The UAE is a very important market for us and we are excited to announce that within the coming several months we plan to launch Yango ride-hailing service in some other emirates.
Can you tell us about your big announcement about opening a new office in Dubai Internet City?
GITEX attendees were the first to hear about Yango's new global operational office opening in Q4 2023 in Dubai Internet City. This strategic move marks a significant milestone in overseeing Yango services including ride-hailing, Yango Delivery, Yango Tech and many more. The office will drive technological advancements, fostering collaboration and innovation for tailored international solutions. It will serve as a centre of excellence, supporting Yango's operations in 20+ countries across the Middle East, Africa, and beyond. The goal is to empower local talent, encourage innovation, and facilitate global knowledge exchange, enriching the tech sector.