Sign in

Exploring the Pros and Cons of Ride Sharing Across the Globe

Devanand Patil
Exploring the Pros and Cons of Ride Sharing Across the Globe

Ride Sharing Market Overview:

The ride sharing market is an ongoing trend among consumers, businesses, and transportation companies. The global ride sharing market size was estimated at USD 60.4 billion in 2020 and is expected to register an impressive CAGR of 11.7% throughout the forecast period from 2021 to 2028. The growth of the ride sharing market can be attributed to the increase in awareness of application based ride sharing services and rising disposable incomes, especially in the emerging markets. Additionally, the growing popularity of app based services and the availability of unique features such as waiting time, multi user ride booking, and convenient payment options are expected to spur the demand for ride sharing services.

Request Free Sample of Ride Sharing Market Report @ https://www.marketresearchfuture.com/sample_request/7444

Ride Sharing Market Scope

The global Ride Sharing Market Size is expected to expand at 19.2% CAGR over the forecast period. Its valuation can exceed USD 194.65 billion by 2027. The market is driven by high demand for timesaving modes of transport. Large number of customers in urban areas and booming populace in suburbs can drive the demand for ride sharing apps. Lack of public transportation options and introduction of electric vehicles are likely to boost market demand in the coming years.

The COVID-19 pandemic has negatively affected the market as national and state level lockdowns have been initiated to curb the spread of the virus. Customers have avoided car hailing applications to prevent being infected in the initial stages of the pandemic. Restrictions placed by governments to curb pollution levels can impact the market growth. But shift from ride hailing to car rentals and long-term vehicle subscriptions can bode well for the market.

But concerns of safety and tough government regulations can impede the market growth.

Ride Sharing Market Segmentation

By type, the market is segmented into car sharing, station-based mobility, e-hailing, and car rental. The car sharing segment is likely to command a huge share of the market owing to pricing plans by prominent mobile applications and large number of people with mobile apps. On the other hand, the station-based mobility is estimated to witness huge growth owing to government incentivized tracks to be laid down rapidly for connection to rural areas as well as station mobility to reach far-off places.

By vehicle type, it is segmented into electric vehicle, ICE Vehicle, and vehicle running on LPG or CNG.

By business model, it is segmented into B2C, P2P, and B2B.

By membership type, it is segmented into fixed ridesharing, corporate ridesharing, and dynamic ridesharing. The corporate ridesharing membership segment is bound to expand owing to large number of urban commuters and office commuting carpools gaining traction.

By service, it is segmented into web and app-based, app-based, and web-based.

Browse Detailed Summary of Research Report: https://www.marketresearchfuture.com/reports/ride-sharing-market-7444

Ride Sharing Market Regional Analysis

North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are regions considered for the global Ride Sharing Market Size.

North America can dominate the global market owing to presence of prominent companies such as Lyft and Uber.  The regional Ride Sharing Market Size is expected to grow owing to high interest among venture capital firms and demand for mobile applications for resolving urban mobility problems.

APAC is touted to expand at a rapid pace due to rise in pollution levels and preference for ride hailing applications by consumers in India and China. High maintenance costs of owing vehicles can work in favor of the market. The large population and surge in popularity of ride hailing services can augur favorably for market growth.

Ride Sharing Market Competitive Landscape

Careem, GrabTaxi Holdings Pte. Ltd., car2go, Taxify, Didi Chuxing Technology Co., Lyft Inc., Gett, ANI Technologies Pvt. Ltd., OLA, Cabify, and Uber Technologies Inc. are key players of the global Ride Sharing Market Size Size. Expansions, new product features, mergers & acquisitions, fund raising, and partnerships are strategies explored by prominent players to gain leverage in the market. Recently, BlaBlaCar has raised USD 115 million in seed funding to expand its services and explore uncharted territories.

Ride Sharing Market Industry News

Gojek and Tokopedia have merged to form a new entity, GoTo Group, to become the biggest company in Indonesia. The ride sharing application offers its services in Thailand, Singapore, and Vietnam.

 About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


Market Research Future

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Devanand Patil
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more