Global Ride Sharing Market, By Service Type (E-Hailing, Car Sharing, Car Rental, Station-Based Mobility), Data Service (Navigation, Information Service, Payment Service, Others), Membership Type (Fixed Ridesharing, Dynamic Ridesharing, Corporate Ridesharing), Distance (Long Distance, Short Distance), Vehicle Type (Battery ICE (Internal Combustion Engine) Vehicle, CNG/LPG Vehicle, Electric Vehicle, Micro Mobility Vehicle), 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.
Ride sharing market is expected to grow at a compound annual growth rate of 20.25% over the forecast period of 2021 to 2028. Data Bridge Market Research report on ride sharing market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Ride sharing is a type of a facility, which is used to carrying the consumers and riders from one place to another. This service is generally availed over the internet in which the customers book their rides and benefit the transportation. It is benefitting to the environment and the consumers as it basically involves more than one rider in the same vehicle.
The ride sharing market has a huge potential to grow over the forecast period of 2021 to 2028, due to the rising smartphone and internet penetration. In addition, rapid increase in cost of vehicle ownership along with strict Co2 reduction targets and increasing demand for electric vehicles in ride sharing services are also largely influencing the growth of the ride sharing market. Also the increasing demand for cost effective and alternative mobility solutions is another driver flourishing the growth of ride sharing market, which in turn is raising the growth of the target market. Additionally, the mounting electric vehicle sales will also boost the growth of the ride sharing market in the above mentioned forecast period. Likewise, the strict vehicular emission regulations and growing awareness related to shared mobility will also forward the product demand. Furthermore, the increasing highlight of various governments on infrastructural investment helping ride sharing activities is highly propelling the demand for ride sharing market.
However, the resistance from traditional transport services and varying transport policies of different countries will act as market restraints for ride sharing in the forecasted period of 2021 to 2028, whereas the profitability and sustainability model have the potential to challenge the growth of the market.
In addition, the rising user base among millennial and potential generation z along with presence of OEMs as mobility service providers and high development of autonomous vehicles for ride sharing will further offer various growth opportunities for the ride sharing market in the above mentioned forecast period.
This ride sharing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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 ride sharing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Ride Sharing Market Scope and Market Size
Ride sharing market is segmented on the basis of service type, data service, membership type, distance and vehicle type. The growth among segments helps you analyze 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 service type, the ride sharing market is segmented into e-hailing, car sharing, car rental and station-based mobility.
- On the basis of data service, the ride sharing market is segmented into navigation, information service, payment service and others.
- Based on membership type, the ride sharing market is segmented into fixed ridesharing, dynamic ridesharing and corporate ridesharing.
- The ride sharing market has also been segmented on the basis of distance type into long distance and short distance.
- ased on vehicle type, the ride sharing market is segmented into battery ICE (internal combustion engine) vehicle, CNG/LPG vehicle, electric vehicle and micro mobility vehicle.
Ride Sharing Market Country Level Analysis
Ride sharing market is analyzed and market size, volume information is provided by country, service type, data service, membership type, distance and vehicle type as referenced above.
The countries covered in the 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).
North America leads the ride sharing market owing to the stable re-engineering of the shifting inclination of residents of the U.S. and Canada toward dipping environmental pollution in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the huge demand for ridesharing services in the countries such as India and China in this particular region.
The country section of the 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 Ride Sharing Market Share Analysis
Ride sharing 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 ride sharing market.
The major players covered in the ride sharing report are ANI Technologies Pvt. Ltd., Uber Technologies Inc., Lyft Inc., Volkswagen AG, Gett, TomTom International BV., Grab, Aptiv, BlaBlaCar, DENSO CORPORATION, Daimler AG, Waymo LLC, car2go NA LLC, Mobileye, Maxi Mobility S.L., Ridecell, Inc, TOYOTA MOTOR CORPORATION, GoGet Carshare, Careem and BMW AG 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.