Uber's ride-sharing service is delivering benefits of more than $80 million to Australian consumers as users flock to the new and cheaper travel service.
uberX - the basic ride-sharing service that was launched in Australia in April 2014 - has boosted the market for commuting to a specific destination via a third party driver by 61 per cent.
The jump is mainly because consumers are switching from driving their own car, using public transport, walking or simply choosing to travel, according to a new report by Deloitte Access Economics.
UberX is also just under 20 per cent cheaper on average than equivalent taxi fares, according to the report, which was commissioned by Uber.
Deloitte Access Economics director Dr Ric Simes said uberX's local launch is "playing out as one of our most compelling sharing economy stories."
"uberX is both transforming and growing the point to point transport market, offering an additional option for consumers," he said in a statement.
Uber - which was launched in 2009 and operates various ride-sharing services in 68 countries- connects riders to drivers through its apps. All fares are processed online, and after the journey a user can rate the driver.
The average waiting time for an uberX ride is also sharply lower at 4.46 minutes, compared to 7.79 minutes for taxis, according to the report.
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