The global ride sharing market size is expected to be worth around USD 222.3 billion by 2027 from USD 61.3 billion in 2018 and growing at a CAGR of 20.35% during forecast period 2020 to 2027.
Ride-sharing, also known as carpool, vanpool, dynamic ride-sharing, and instant ride-sharing, is a mode of traveling in which a single ride is shared by more than one anonymous passengers traveling along the same route. This method comprises picking different passengers from different places and ferrying them to same or different destinations. Ride-sharing is an old concept that has penetrated in the market since 1907. In the early 20th century, the method was known as ride sourcing in which the location of vehicles was unknown. Faster network speed, Global Positioning System (GPS), and smartphones have changed the face of the global ride-sharing industry, which enabled users to book a ride whenever they want and knowing the exact location of the vehicle, which in turn has enhanced the safety of passengers.
The global ride sharing market is anticipated to be influenced by the inability to own a personal four wheeler or two wheeler, particularly among the low and middle income families. Speed of faster network together with the penetration of global positioning system, and increased penetration of smartphones are likely to work in favor of the global ride sharing market in the years to come. It has become possible to book ride from anywhere and at any point of time. Furthermore, the safety of passengers has also been enhanced with the emergence of GPs technology, which makes tracking of the vehicle easier.
Fluctuations in the price of fuels, raid expansion of the working class people together with rise in the traffic congestion in the urban areas is likely to propel growth of the market in the years to come. In addition, there exists limited provision of public transport in many of the countries, which is likely to add to the growth of the global ride sharing market in the years to come.
The Ride Sharing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Ride Sharing market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Ride Sharing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ride Sharing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ride Sharing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Ride Sharing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Ride Sharing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ride Sharing market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ride Sharing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ride Sharing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Ride Sharing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
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, global presence, production sites and facilities, production capacities, 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.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ride Sharing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ride Sharing market. These factors have benefited the growth of the global market for Ride Sharing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ride Sharing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global ride-sharing market include Uber Technologies Inc., ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Taxify OÜ, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), BlaBlaCar, Wingz, Inc, Curb Mobility, and Cabify. The global ride-sharing market is witnessing a significant increase in merger, acquisition, and joint venture activities, as well increase in number of new entrants, which is expected to increase competition in the ride-sharing market.
The global ride sharing is segmented based on:
Electric Vehicle Type
In this study, the years considered to estimate the market size of Ride Sharing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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