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The Global Ride Sharing Market is expected to witness 10% CAGR during the period, 2018 to 2023. North America to remain the Largest Market for Ride Sharing over 2023. Ride sharing, which includes services such as carpooling and car hailing, is a concept which has gained a lot of traction in the mobility market in recent years. It is a service that offers one-way or two-way transportation on short notice.Global Rising Sharing Market: Competition Analysis
MRFR in its report has discussed some of the leading market players namely Lyft, Inc. (U.S.), Gett (Israel), GrabTaxi Holdings Pte. Ltd. (Singapore), car2go (Germany), Uber Technologies Inc. (U.S.), ANI Technologies Pvt. Ltd. (India), Cabify (Spain), Taxify (Estonia), Didi Chuxing Technology Co. (China), Careem (UAE).
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Global Ride Sharing Market Will Continue to Surge over 2023
Ride sharing is growing fast. The global ride sharing market is high dynamic in nature and is characterized by presence of many companies. Presence of multi-domain companies has helped in pacing up transformation in the ride sharing industry. According to a new report published by Market Research Future (MRFR), the global ride sharing market is expected to exhibit a healthy growth during the forecast period (2018-2023).
The concept of the ride sharing is gaining traction in various parts of the globe owing to its advantages that span across traffic management, environmental preservation and economics. Ride sharing is catching up in both advanced countries and developing countries. From the very initial phases consumer sentiments have been positive towards ride sharing. Rising fuel price, increased traffic congestion and overcrowding of the cities are some of the key factors supporting the market growth. However, passenger safety concerns and competition from local vendors are some of the market impediments.
Global Ride Sharing Market: Sentimental Analysis
The sentimental analysis of the market has been conducted on the basis of business model, vehicle type, type and region.
Based on business model, key market segments include B2C, B2B and P2P. Based on vehicle type, key market segments include Electric Vehicle, CNG/LPG Vehicle, and ICE Vehicle. Based on type, key market segments include Station-Based Mobility, Car Rental, E-Hailing and Car Sharing.
Global Ride Sharing Market: Regional Analysis
On the basis of region, key market segments include Asia Pacific (APAC), Europe, North America and the Rest of the World (RoW). North America is expected to hold a significant market share throughout the assessment period. Increased popularity of ride sharing among Americans is the prime market driver. The U.S. leads the North America ride sharing market. The country is home to some of the leading ride hailing companies in the world, this puts the U.S. at an advantageous position. Moreover, favourable regulations and present of superior supporting infrastructure complements the market in North America. Companies operating in the region are collaboration with other corporation and tech companies to bolster operation and overcome mission-critical issues. Increased focus towards reducing traffic congestion and measures to curtail carbon emission is creating opportunities for market players.
Asia Pacific (APAC) is also viewed as an attractive market for ride sharing. It is projected that countries such as Japan, China, South Korea are expected to present attractive opportunities to market players during the forecast period. Issues such as global warming, rising carbon emission, environment degradation have picked up momentum in these countries, which has prompted local policy maker to develop pro-environment frameworks. This is proving headwinds to the market in the region. Countries such as China and India are showing a greater interest in contemporary concepts such as carpooling and ride sharing. The APAC ride sharing market is expected to witness healthy growth in the forthcoming years also owing to economy factors such as changing lifestyle, increased disposable and increased urbanization.
Industry News
US-based ride-hailing company Lyft, Inc. is reportedly gearing up to entre Metro Vancouver. The company is expecting to become operation in the city by next two-three months.
Ride-hailing giant uber has recent revealed its plans to expand its operations into six more cities in New Zealand. The company is expected to target Taupō, New Plymouth, Nelson¸ Palmerston North, Rotorua and Napier-Hastings. The ride services may start off as early as October.
Table Of Contents
Executive Summary
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
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
Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
Global Ride Sharing Market, By Type
5.1. Introduction
5.2. Car Sharing
5.2.1. Market Estimates & Forecast, 2018-2023
5.2.2. Market Estimates & Forecast By Region, 2018-2023
5.3. E-Hailing
5.3.1. Market Estimates & Forecast, 2018-2023
5.3.2. Market Estimates & Forecast By Region, 2018-2023
5.4. Car Rental
5.4.1. Market Estimates & Forecast, 2018-2023
5.4.2. Market Estimates & Forecast By Region, 2018-2023
5.5. Station-Based Mobility
5.5.1. Market Estimates & Forecast, 2018-2023
5.5.2. Market Estimates & Forecast By Region, 2018-2023
Global Ride Sharing Market, By Vehicle Type
6.1. Introduction
6.2. ICE Vehicle
6.2.1. Market Estimates & Forecast, 2018-2023
6.2.2. Market Estimates & Forecast By Region, 2018-2023
6.3. CNG/LPG Vehicle
6.3.1. Market Estimates & Forecast, 2018-2023
6.3.2. Market Estimates & Forecast By Region, 2018-2023
6.4. Electric Vehicle
6.4.1. Market Estimates & Forecast, 2018-2023
6.4.2. Market Estimates & Forecast By Region, 2018-2023
Continued…….
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