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According to a new market research report published by Credence Research “On-Demand Transportation Market – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall on-demand transportation market worldwide was valued at US$ 47.62 Bn in 2018 and is set to grow with 16.30% CAGR during the forecast period.Market Insights
On-demand transportation is regarded as the future of public transportation and is characterized by flexible and user-friendly transportation based on passenger needs. In 2018, global transportation services market was valued at more than US$ 6.0 Tn, thereby creating immense potential for on-demand transportation. Due to the rise in smartphones and internet penetration, the adoption of on-demand transportation services has increased significantly over the period. Consumers can book or reserve various types of vehicles such as passenger cars, commercial vehicles or micro mobility vehicles through on-demand transportation services. Market players are coming with different expansion strategies such as product launch, partnerships & collaborations and merger & acquisitions to gain market share. For instance, in 2018, BMW and Daimler announced to team up for the car and ride-sharing services. On account of these factors, we are expecting tremendous growth in on-demand transportation market during the forecast period.
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Based on vehicle type, passenger cars is the leader in on-demand transportation market with more than 50% of the market share. Passenger cars have been preferably selected for ride sharing, rental and e-hailing. These are essentially digitally transformed cab services which makes them high in demand. Entry level passenger cars are widely adopted due to smaller space, high fuel efficiency and exemption from taxes. Demand for SUVs is on rise among customers for long journeys due to large space and high comfort. As a result, passenger cars remain the most commonly used vehicle and is expected to retain its dominant position in the market throughout the forecast period.
Based on the geography, North America is the leader in on-demand transportation market with more than 30% of the overall market revenue followed by the Asia Pacific. As the smartphone and internet penetration is on the rise in the Asia Pacific, we are expecting huge growth in on-demand transportation market during the forecast period. India and China are expected to remain the growth engines for on-demand transportation market in the Asia Pacific. Smart Mobility 2030 initiative by the Land Transport Authority of Singapore is expected to further support the market growth. Rapid urbanization, crowded public transits and rise in the number of daily commuters are fueling the demand in the Asia Pacific. Consequently, Asia Pacific is set to register the fastest growth in the market over the forecast period.
On-demand transportation market comprises of more regional players as compared to global players due to the easy availability of cab services and requirement of local networks. Thus, it becomes challenging for overseas players to establish their footprint in a given regional market. Some global players such as Uber Technologies Inc. are collaborating with regional players for the market presence. For instance, in 2016, Uber Technologies Inc. merged with China’s Didi Chuxing to increase their presence in the country.
Report Scope by Segments:
By Vehicle Class (2019–2027; US$ Bn)
1.Passenger Cars
2.Commercial Vehicles
3.Micro-mobility
By Service Type (2019–2027; US$ Bn)
1.E-Hailing
2.Car Rental
3.Car Sharing
4.Bus Sharing
Some of the major companies profiled in the report:
Uber Technologies Inc.,
Lyft, Inc.,
ANI Technologies Pvt. Ltd. (OLA),
Grab Holdings Inc.,
Wingz, Inc,
Careem Inc.,
Comuto SA (BlaBlaCar),
Bolt (Formerly taxify),
Gett, Inc.,
Beijing Xiaoju Technology Co, Ltd.(Didi Chuxing),
Curb Mobility,
Cabify,
Europcar Mobility Group,
The Hertz Corporation,
Avis Budget Group, Inc.,
Bayerische Motoren Werke AG (BMW),
Daimler AG,
Transdev,
General Motors Company,
Ford Motor Company,
Robert Bosch GmbH,
Hyundai Motor Company,
Enterprise Holdings, Inc.,
Meru Cabs,
Jugnoo,
Zoomcar,
Revv car,
Myles and others.
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ToC:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted
Chapter 2 Executive Summary
2.1 Market Snapshot: Global On-Demand Transportation Market
2.2 By Vehicle Class, 2018 (US$ Mn)
2.3 By Service Type, 2018 (US$ Mn)
2.4 By Geography, 2018 (US$ Mn)
Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global On-Demand Transportation Market Value, 2017 – 2027, (US$ Mn)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends
3.5 Attractive Investment ProVehicle Class, by Geography, 2018
3.6 Competitive Analysis
3.6.1 Market Vehicle Classing of Key On-Demand Transportation Vendors, 2018
3.6.2 Key Strategies Adopted by the Leading Players
Chapter 4 Global On-Demand Transportation Market Analysis, by Vehicle Class, 2017 – 2027 (US$ Mn)
4.1 Overview
4.2 Passenger Cars
4.3 Commercial Vehicles
4.4 Micro-mobility
Chapter 5 Global On-Demand Transportation Market Analysis, by Service Type, 2017 – 2027 (US$ Mn)
5.1 Overview
5.2 E-Hailing
5.3 Car Rental
5.4 Car Sharing
5.5 Bus Sharing
Chapter 6 North America On-Demand Transportation Market Analysis, 2017 – 2027 (US$ Mn)
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Chapter 7 Europe On-Demand Transportation Market Analysis, 2017 – 2027 (US$ Mn)
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Chapter 8 Asia Pacific On-Demand Transportation Market Analysis, 2017 – 2027 (US$ Mn)
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Chapter 9 Rest of the World (RoW) On-Demand Transportation Market Analysis, 2017 – 2027 (US$ Mn)
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Chapter 10 Company Profiles
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List Of Table:
TABLE 1 Market Snapshot: Global On-Demand Transportation Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America On-Demand Transportation Market Value, By Vehicle Class, 2017 – 2027 (US$ Mn)
TABLE 5 North America On-Demand Transportation Market Value, By Service Type, 2017 – 2027 (US$ Mn)
TABLE 6 North America On-Demand Transportation Market Value, By Region/Country, 2017 – 2027 (US$ Mn)
TABLE 7 U.S. On-Demand Transportation Market Value, By Vehicle Class, 2017 – 2027 (US$ Mn)
TABLE 8 U.S. On-Demand Transportation Market Value, By Service Type, 2017 – 2027 (US$ Mn)
TABLE 9 Rest of North America On-Demand Transportation Market Value, By Vehicle Class, 2017 – 2027 (US$ Mn)
TABLE 10 Rest of North America On-Demand Transportation Market Value, By Service Type, 2017 – 2027 (US$ Mn)
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Browse the full report at https://www.credenceresearch.com/report/on-demand-transportation-market
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Medium: On-Demand Transportation Market: worldwide industry analysis by 2027
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