Global Ride Sharing Market is expected to witness exponential growth during the forecast period
Market Research Future published a Half Cooked Research Report Global Ride Sharing Market that contains the information from 2018 to 2023. The Global Ride Sharing Market is expected to progress with the CAGR of ~10% from 2018 to 2023.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 88 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Ride Sharing Market Information from 2018 to 2023″
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Ride sharing services are mostly available in major cities. However, with growing popularity of smartphones and improved communication infrastructure, ride sharing and carpooling services are expected to increase their penetration even in tier 2 and tier 3 cities of emerging countries. Growing concerns regarding environment pollution due to vehicles and worsening traffic on roads have also been key factors that have driven the ride sharing market. The market was dominated by North America, which is considered to be an early adopter of this service, followed by Europe. However, improved public transport systems, particularly in developed countries, could hamper the growth of this market in the coming years.
The Global Ride Sharing Market is estimated to witness ~10% CAGR during the forecast period.
The global ride sharing market is segmented on the basis of type, vehicle type, business model, and region. On the basis of type, the market has been segmented into Car Sharing, E-Hailing, Car Rental and Station-Based Mobility. On the basis of vehicle type, the market has been segmented into ICE Vehicle, CNG/LPG Vehicle, and Electric Vehicle. On the basis of business model, the market has been segmented into P2P, B2B, and B2C.
On the basis of type, the e-hailing segment is estimated to witness the fastest growth over the forecast period. Growing penetration of smartphones and ease of operation of carpooling and car sharing applications are expected to be the major drivers of the market in this segment. Major ride sharing companies such as Uber Technologies Inc., Lyft, Inc, and Didi Chuxing Technology Co. are working closely with automotive OEMs, to introduce more cars for sharing in the market.
On the basis of vehicle type, electric vehicles are projected to grow at the highest CAGR from 2018 to 2023. Reducing price of electric vehicles and improving charging facilities have resulted in growing demand for electric vehicles globally. Besides, several incentives offered by governments and environmental associations encouraging the use of electric vehicles for ride sharing and carpooling have also played a major role in the growth of the market in this segment.
The market is also segmented on the basis business model. The B2B segment is projected to witness the fastest growth over the forecast period. Tie-ups between corporates and ride sharing companies in order to make the travelling experience of employees more comfortable have majorly driven the market in the B2B segment. Besides, ride sharing has also encouraged office employees to shun their private vehicles while commuting to office, resulting in reduced traffic on roads.
The prominent players in the global Ride Sharing Market include Uber Technologies Inc. (U.S.), Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), Gett (Israel), ANI Technologies Pvt. Ltd. (India), GrabTaxi Holdings Pte. Ltd. (Singapore), Taxify (Estonia), Careem (UAE), Cabify (Spain) and car2go (Germany).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global Ride Sharing Market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.