Global Ride Sharing Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

According to Data Bridge Market Research new Market report, global ride sharing market will account to an estimated USD 60.88 billion in 2018 growing at a CAGR of 19.75% during the forecast period of 2019 to 2026.

Global Ride Sharing Market

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Global Ride Sharing Market:

Ride sharing is a modern technologically advanced facility that enables the users of these facilities to hail or hire a ride along with some other rider or driver for the purpose of transporting from one place to another. The facility is available through different platforms and applications over the internet and is significantly cost-effective rather than driving individually.

Segmentation: Global Ride Sharing Market

Global ride sharing market is segmented on the basis of type, service type, vehicle type, data service, distance and geography.

By Type (P2P Car Sharing, Corporate Car Hailing), Service Type (E-Hailing, Car Rental, Car Sharing, Station-Based Mobility), Vehicle Type (CNG/LPG Vehicles, ICE Vehicles, EV, Micro-Mobility Vehicles), Data Service (Navigation, Information Service, Payment Service, Others), Distance (Long Distance, Short Distance) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN RIDE SHARING MARKET

Innovative product launches and expansion strategy adopted by major manufacturers

  • In October 2018, Volkswagen AG and Mobileye announced their intentions to launch a commercialised autonomous ride sharing services in Israel by 2019. In the partnership, Volkswagen will provide Mobileye with a fleet of electric vehicles and Mobileye will be responsible for the installation and maintenance of the self-driving technology.
  • In September 2018, Aptiv announced the launch of a fleet consisting of 30 autonomous vehicles to be used in the Lyft Inc.’s business operations. This partnership will provide the riders’ option to avail the driver-less ride sharing service of the vehicles equipped with Aptiv’s autonomous driving system.
  • In December 2017, DENSO CORPORATION announced that they had acquired a significant share in Ridecell Inc. With the help of this acquisition, DENSO has announced their intentions to invest into the ride-sharing business operations.

Key Market Competitors: Global Ride Sharing Market

Few of the major competitors currently working in the ride sharing market are ANI Technologies Pvt. Ltd., Uber Technologies Inc., Beijing Xiaoju Technology Co Ltd., Lyft Inc., Volkswagen AG, Gett, TomTom International BV., Grab, Aptiv, BlaBlaCar, DENSO CORPORATION, Waymo LLC, car2go NA LLC, Mobileye, Maxi Mobility S.L., Taxify OÜ, Ridecell Inc, GoGet Carshare, Careem and Easy Taxi Serviços LTDA.

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