Ride Sharing Market Overview:
Ride sharing applications have gained prominence as a prime mode of transport owing to penetration of smartphones and the Internet. Ride sharing allows customers to commute distances at affordable prices. They have garnered interest in developing economies looking to increase their ease of business and ease of living indexes. The global Ride Sharing Market Size report by Market Research Future (MRFR) provides a significant outlook on numerous trends, drivers, deterrents, and challenges for the forecast period (2022-2030) while keeping in mind of the COVID-19 pandemic.
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Ride Sharing Market Scope
The global Ride Sharing Market Size is expected to expand at 19.2% CAGR over the forecast period. Its valuation can exceed USD 194.65 billion by 2027. The market is driven by high demand for timesaving modes of transport. Large number of customers in urban areas and booming populace in suburbs can drive the demand for ride sharing apps. Lack of public transportation options and introduction of electric vehicles are likely to boost market demand in the coming years.
The COVID-19 pandemic has negatively affected the market as national and state level lockdowns have been initiated to curb the spread of the virus. Customers have avoided car hailing applications to prevent being infected in the initial stages of the pandemic. Restrictions placed by governments to curb pollution levels can impact the market growth. But shift from ride hailing to car rentals and long-term vehicle subscriptions can bode well for the market.
But concerns of safety and tough government regulations can impede the market growth.
Ride Sharing Market Regional Analysis
North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are regions considered for the global Ride Sharing Market Size.
North America can dominate the global market owing to presence of prominent companies such as Lyft and Uber. The regional Ride Sharing Market Size is expected to grow owing to high interest among venture capital firms and demand for mobile applications for resolving urban mobility problems.
APAC is touted to expand at a rapid pace due to rise in pollution levels and preference for ride hailing applications by consumers in India and China. High maintenance costs of owing vehicles can work in favor of the market. The large population and surge in popularity of ride hailing services can augur favorably for market growth.
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Ride Sharing Industry News
Gojek and Tokopedia have merged to form a new entity, GoTo Group, to become the biggest company in Indonesia. The ride sharing application offers its services in Thailand, Singapore, and Vietnam.
Ride Sharing Market Competitive Landscape
- Ber Technologies Inc. (U.S.)
- Taxify (Estonia)
- Lyft Inc. (U.S.)
- ANI Technologies Pvt. Ltd. (India)
- OLA
- Gett (Israel)
- Didi Chuxing Technology Co. (China)
- car2go (Germany)
- Cabify (Spain)
- GrabTaxi Holdings Pte. Ltd. (Singapore)
Ride Sharing Market Segmentation
By type
- car sharing
- e-hailing
- car rental
- station-based mobility.
By Vehicle type
- ICE Vehicle
- electric vehicle
- Vehicle running on LPG or CNG
By Business Model
- B2C
- P2P
- B2C
By Membership type
- Fixed Ridesharing
- Corporate Ridesharing
- Dynamic Ridesharing.
By Service
- app-based
- web-based
- web and app-based
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
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