Global On-demand Transportation Market, By Type (Ride-Sharing, Vehicle Rental/Leasing, Ride Sourcing), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Micro Mobility), Application (Passenger Transportation, Goods Transportation), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global On-demand Transportation Market
On-demand transportation market will reach at an estimated value of 542.49 million and grow at a CAGR of 13.20% in the forecast period of 2021 to 2028. Increased problems related to traffic is an essential factor driving the on-demand transportation market.
On-demand transportation is defined as an internet-based service which is used to book means of transportation in return of money, based on the distance and time it is used for. Numerous types of vehicles, such as commercial vehicles or passenger vehicles, can be booked or reserved through on-demand transportation services as per the requirement of the consumer. Furthermore, the service is highly popular in urban areas, due to increased digitalization and rising dependency on internet-based services.
Growing fuel costs is a crucial factor accelerating the market growth, also reduced parking spaces, increasing penetration of smartphone and connected vehicles, rising cost of automobiles has boosted the inclination towards on-demand services which enable users to modify, pre-book and cancel their bookings at lower costs through applications, which in turn increases the demand for the product, rising surge in the usage of car sharing services by millennials and rising presence of major players coupled with their efforts to deliver efficient driverless shuttles are the major factors among others boosting the on-demand transportation market. Moreover, rising tourism activities, rising working class population coupled with rising trend of road trips and increasing technological advancements and modernization in the automotive sector will further create new opportunities for on-demand transportation market in the forecast period mentioned above.
However, rising data privacy security and increased public safety are the major factors among others restraining the market growth, and will further challenge the on-demand transportation market in the forecast period mentioned above.
This on-demand transportation market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on on-demand transportation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
On-Demand Transportation Market Scope and Market Size
On-demand transportation market is segmented on the basis of type, vehicle type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, on-demand transportation market is segmented into ride-sharing, vehicle rental/leasing and ride sourcing.
- Based on vehicle type, the on-demand transportation market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles and micro mobility.
- The on-demand transportation market is also segmented on the basis of application into passenger transportation and goods transportation.
On-Demand Transportation Market Scope Country Level Analysis
On-demand transportation market is analysed and market size, volume information is provided by country, type, vehicle type and application as referenced above.
The countries covered in the on-demand transportation market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the on-demand transportation market due to increasing penetration of smartphone and connected vehicles, rising surge in the usage of car sharing services by millennials and rising presence of major players, increasing fuel prices, traffic congestions, and rising emission standards in this region. North America and Europe are the expected regions in terms of growth in on-demand transportation market due to increasing fuel prices, traffic congestions, and rising emission standards in these regions.
The country section of the on-demand transportation market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and On-Demand Transportation Market Share Analysis
On-demand transportation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to on-demand transportation market.
The major players covered in on-demand transportation market report are IBM, Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, General Motors, Gett, Bosch Limited, Uber Technologies Inc., TOYOTA MOTOR CORPORATION, Beijing Xiaoju Technology Co, Ltd., Avis Budget Group, Bolt Technology OÜ, ANI Technologies Pvt. Ltd, Lyft, Inc. and Maxi Mobility S.L. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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