Market Research Future (MRFR) report on the “Global Ride Sharing Market” addresses the COVID-19 analysis of a critical factor affecting the market growth. The global market is showing a moderate prospect of recording a rise by 10% CAGR during the forecast period. The popularity of ride sharing concept is foreseen to stimulate the ride sharing market 2020.
The penetration of smartphone devices has spurred the expansion of the ride sharing app market significantly. The investment by market shareholders to expand the market is foreseen to open up new avenues for progress in the ride sharing market size. Also, the mounting traffic and congestion problems in almost every region of the world are projected to create new opportunities for progress in the impending period.
The progress of the market in the future is estimated to be triggered by the investments being funneled into the market at present. The simplification of the market processes is estimated to create further situations that lead to an increase in the growth momentum of the market. The employment of analytical tools is estimated to spur the enhancement of the products being distributed at a global scale in the market, to meet the specific requirements of the user demographic in a particular region. The market state is attuned to the development of the contenders in the market. The presence of positive economic factors is estimated to guide the continual and fast-paced development of the market. The need to conserve and optimize the output of resources is estimated to guide the expansion of the international market in the upcoming period. The need to innovate the product offerings of individual contributors is predicted to give leverage to boost the overall income power of the market.
The important companies in the ride sharing industry are Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), Cabify (Spain), Gett (Israel), ANI Technologies Pvt. Ltd. (India), Uber Technologies Inc. (U.S.), Careem (UAE), GrabTaxi Holdings Pte. Ltd. (Singapore), Taxify (Estonia), and car2go (Germany).
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The segmental study of the ride sharing market is conducted on the basis of vehicle types, business models, types, and region.
- Based on the vehicle types, the market for ride sharing has been segmented into ICE vehicles, CNG/LPG vehicles, and electric vehicle.
- On the basis of the business models, the market for ride sharing has been segmented into B2B, P2P, and B2C.
- On the basis of regions, the market for ride sharing has been segmented into Asia Pacific, North America, Europe, and the rest of the regional markets.
- On the basis of the types, the market for ride sharing has been segmented into e-hailing, car rental, car sharing, and station-based mobility.
Detailed Regional Analysis
The regional investigation of the ride sharing market takes into consideration regions such as Asia Pacific, North America, Europe, and the rest of the regional markets. The regional market in North America is assessed to take the frontrunner place for a vast segment in the ride sharing market. The contracts involving businesses and ride sharing companies to cut down traffic congestion and pollution from vehicle emissions have been the key reasons of the ride sharing market in this region. The market in this region is regulated by the U.S., which is exceedingly combined with ride hailing titans taking a bulk of the market share. The factors concerning air pollution and parking area complications have set in motion actions of the administrations of the nations of India and China to encourage the idea of carpooling and ride sharing. The ride sharing market in the Asia Pacific region is expected to observe the uppermost growth in the forecast period. The market is due to the presence of a large number of the middle-class population unable to own their vehicles.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Ride sharing Market Segmentation
- Ride sharing Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
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