Ride Sharing Market Size, Share, Growth & Trends


 Ride Sharing Market

Ride Sharing Market is anticipated to witness a promising CAGR over the coming years, owing to the emerging need to minimize traffic for environmental concerns. Rising safety concerns pertaining the use of public transport facilities, accelerating internet and smartphones penetration, and rapidly increasing urban population are projected to drive the ride sharing market size.

Growing demand for carpooling services to reduce cost and avoid traffic and intensified initiatives enforced by the government to encourage the adoption of ride sharing services are projected to expand the global ride sharing market growth. Surging demand for these services across emerging nations and emerging need to decrease the daily travel time are projected to propel the market growth. Also, ride sharing services offer an easy and economical means of personal mobility, minimizes carbon discharge, and provide a cheaper door-to-door ride service with no parking issue. However, different transport policies enforced in the nation and inadequate infrastructure will restrain the ride sharing market share.

By service type, the station-based mobility segment is predicted to expand at a CAGR during the forecast period, as it helps in reducing congestion. Moreover, intensified government initiatives for station-based mobility will strengthen the market growth.

By data service, navigation services are estimated to hold a larger share over the forecast period, owing to the rising number of ride sharing service users. Also, as per the ride sharing market analysis, the ability of ride sharing service to guide passengers and drivers about the route and location will propel the market growth.

By region, Asia-Pacific region is expected to increase at a higher CAGR in the upcoming years due to the growing concern pertaining the environment. Rising use of ride sharing services and carpooling services across China and India will strengthen the market growth.

Leading players operating in the market include Uber Technologies Inc., Lyft, Inc., Gett, DiDi, Ola (ANI Technologies Pvt. Ltd.), Intel Corporation, BlaBlaCar, Aptiv, Grab, and TomTom International BV., among others.

Key Developments:

In 2020, Moovit, a mobility-as-a-service (MaaS) solutions company, was acquired by Intel Corporation for USD 900 million. This acquisition helped company become a complete mobility vendor that also includes the robotaxi services.

In 2020, Gett collaborated with Ola Cabs, a ride-sharing company. In this partnership, business clients of Gett will receive the service from the ola drivers by the Gett SaaS platform.

Ride Sharing Market Segmentation:

Ride Sharing Market by Service Type
  • Car Sharing
  • E-Hailing
  • Station-Based Mobility
  • Car Rental
Ride Sharing Market by Type
  • Corporate Car Sharing
  • P2P Car Sharing
Ride Sharing Market by Vehicle Type
  • CNG/LPG Vehicle
  • ICE (Internal Combustion Engine) Vehicle
  • Micro Mobility Vehicle
    • Scooter
    • Bike/Bicycle
    • Others
  • Electric Vehicle
Ride Sharing Market by Data Service
  • Navigation
  • Information Service
  • Payment Service
  • Other
Ride Sharing Market by Distance
  • Short Distance
  • Long Distance
Ride Sharing Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Location: United States

Comments

Post a Comment

Popular posts from this blog

Restaurant Point Of Sale Terminal Market Share Report & Forecast 2029

Image
  The Restaurant Point-of-Sale Terminal Market is estimated to witness a growth of CAGR 8.5% during the forecast period, 2022-2029. The factors driving growth of the Restaurant Point-of-Sale Terminal Market includes increasing deployment of point-of-sale systems at restaurants, breweries, and nightclubs, rise in the volume of contactless payment transactions, growing popularity of online food delivery applications such as Swiggy, Zomato and Uber Eats and improvements in the living standards. Moreover, technological advancements in point-of-sale systems, Point of Sale Terminals offer online orders, e-wallets, table reservations and loyalty programs, rising focus by restaurants on streamlining operations, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic collaborations between enterprises and growing
Read more

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more