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Pulished Date April, 2021
ID: 9832
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Ride Sharing Market segmentation by Service type (E-Hailing, Car Sharing, Car Rental, Station-Based Mobility) by car sharing type (P2P Car Sharing, Corporate Car Sharing) by Vehicle type ( Internal Combustion Engine (ICE) Vehicle, CNG/LPG Vehicle, Electric Vehicle, Micro Mobility Vehicle) by Data service (Information Service, Navigation, Payment Service, Other) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 9832
Pages: 175

Ride Sharing Market Size, Trends & Growth (2021 - 2026)

The global ride-sharing market size was valued at about USD 7.13 billion in 2021 and is likely to register a CAGR of above 7% over the estimated period.

Ride-Sharing Market size is predicted to grow over the coming years with the rapid increase in road traffic and demand for cushty riding experience. It allows passengers to attach with the drivers and book their rides easily with the assistance of mobile applications or online sites. There are several advantages associated with ride-sharing like convenient booking options, affordable door-to-door rides, no parking troubles, and reduced carbon footprints. Additionally, the increased variability in cab booking charges thanks to the presence of an outsized number of service providers may be a major factor, accelerating the global ride-sharing market growth. Several companies within the market are providing different offers, discounts, and facilities to scale back the expenses of daily passengers. As an example, companies, like OLA and Uber, provide monthly pass facilities to users, where consumers can use ride pooling at lower rates than paying for their rides every day.

The necessity to scale back urban traffic jam and the need for the cost-effective commute with better comfort are the key factors driving the expansion of this industry. Increasing penetration of smart devices, like smartphones, tablets, et al. is projected to drive the market boom. Within the ride-sharing business model, smart personal devices hold the foremost significance because the platforms on which the apps are installed.

Recent Developments:

London's transportation regulator won't renew Uber's license to work within the city, threatening the ride-hail giant's future in one among its biggest markets.

Google is launching a ride-sharing app, skirting the legal minefields of Uber

OLA announced it plans to launch within the UK. This comes just six months after the Softbank-backed firm ventured into Australia in its first overseas move.

Drivers and Restraints of Ridesharing Market:

Drivers:

As ride-sharing is an internet-enabled service, internet connectivity is the essential requirement for availing these services in any a part of the planet. The users are required to download an app on their smartphone and use data services to access the app and additional navigation and knowledge services associated with it. Internet connectivity is additionally needed for navigation, telematics, and V2V communication. Consistent with the International Telecommunication Union, approximately 81% of the population in developed countries uses the web. On the opposite hand, 40% of people in developing countries have access to the internet, and these numbers are increasing rapidly. Therefore, the increasing penetration of internet and smartphones acts as the primary growth driver of the global ride-sharing market.

Restraints:

The increasing number of ride-sharing services like Uber, Ola, and Lyft has disrupted the marketplace for traditional taxi operators. Many of them have lost operations and revenue that was generated from conventional businesses. Traditional taxi operators have formed cartels to protest against app-based ride-sharing service providers in many places.

In many countries, the operations of app-based mobility services aren't regulated by a legal authority. Hence, their process isn't defined and controlled by the government. Taxi services are required to get separate licenses and registration. This makes it difficult for app-based taxi services to work as many app-based companies don't own the vehicles.

Ride Sharing Market Segmentation:

Ride-Sharing market, by Service type

  • E-hailing 
  • Car sharing 
  • Car rental 
  • Station-based mobility 

E-hailing segment is predicted to grow with a notable CAGR In the coming years, due to the increasing use of online ride-sharing applications. 

Ride-Sharing market, by car sharing type

  • P2P Car sharing 
  • Corporate Car sharing 

P2P car sharing has registered a prominent share in the global ride-sharing market with the increasing use of cabs for personal and professional tasks among the consumers. Corporate car sharing is also slowly gaining ground around the globe.

Ride-Sharing market, by Vehicle type

  • ICE (internal combustion engine) vehicle 
  • CNG/LPG vehicle 
  • Electric vehicle 
  • Micro mobility vehicle (Bike/Bicycle, Scooter, Others) 

Micro-mobility describes a spread of vehicles which will accommodate just one or two people. Shared micro-mobility presents a sensible option for anyone seeking to navigate a city quickly and without the issues of mass transit. With congestion rising in many cities, there's a growing need for door-to-door mobility options that don't contribute to traffic.

Ride-Sharing market, by Data service

  • Information service 
  • Navigation 
  • Payment service 
  • Other 

Ride sharing Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America ride-sharing market is probably going to occupy a big market share within the global business. The demand within the U.S. leads with a highly consolidated way on ride-hailing giants like Uber and Lyft in the area, contributing a majority of this market share. Agreements between several corporations and ride-sharing companies to scale back traffic jam and control pollution, which have also been the prominent driving factors of this market in this region.

Europe ride-sharing market is additionally not yet fully operational with countries like Germany still displaying a reluctance to adopt the concept. Developed countries like the U.K. and France have enthusiastically adopted four-wheeler and bike-sharing platforms over the last few years.

The Asia Pacific ride-sharing market is projected to watch the very best growth within the region over the anticipated period. The countries like Japan, China, and South Korea are at the forefront of this growth during this region. The factors of reducing pollution and parking problems have propelled the governments of countries like China to adopt the concept of ride-sharing. The regional market is additionally expected to observe spectacular growth in India, which is characterized by an elevated concentration of middle-class population that is not capable of maintaining own vehicles.

Key Players of Market:

The global ride sharing market is dominated by a few players. Some of those key players in the market are Uber (US), Lyft (US), DiDi (China), Grab (Singapore), Gett (Israel), Ola (India), BlaBlaCar (France), Lime (US), and Herts (US)

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Ride Sharing Market, By Service Type                   

                    6.1.1 E-Hailing       

                    6.1.2 Car Sharing    

                    6.1.3 Car Rental     

                    6.1.4 Station-Based Mobility       

                    6.1.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.6 Y-o-Y Growth Rate Analysis         

                    6.1.7 Market Attractiveness Index         

          6.2 Ride Sharing Market, By Car Sharing Type            

                    6.2.1 P2P Car Sharing       

                    6.2.2 Corporate Car Sharing        

                    6.2.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Ride Sharing Market, By Vehicle Type                   

                    6.3.1 Internal Combustion Engine (ICE) Vehicle

                    6.3.2 CNG/LPG Vehicle     

                    6.3.3 Electric Vehicle        

                    6.3.4 Micro Mobility Vehicle        

                    6.3.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.6 Y-o-Y Growth Rate Analysis         

                    6.3.7 Market Attractiveness Index         

          6.4 Ride Sharing Market, By Data Service                   

                    6.4.1 Information Service  

                    6.4.2 Navigation     

                    6.4.3 Payment Service       

                    6.4.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.5 Y-o-Y Growth Rate Analysis         

                    6.4.6 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Service Type        

                    7.2.3 By Car Sharing Type 

                    7.2.4 By Vehicle Type        

                    7.2.5 By Data Service        

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Service Type        

                    7.3.3 By Car Sharing Type 

                    7.3.4 By Vehicle Type        

                    7.3.5 By Data Service        

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Service Type        

                    7.4.3 By Car Sharing Type 

                    7.4.4 By Vehicle Type        

                    7.4.5 By Data Service        

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Service Type        

                    7.5.3 By Car Sharing Type 

                    7.5.4 By Vehicle Type        

                    7.5.5 By Data Service        

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Service Type        

                    7.6.3 By Car Sharing Type 

                    7.6.4 By Vehicle Type        

                    7.6.5 By Data Service        

8. Key Player Analysis                           

          8.1 Uber                

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Lyft                  

          8.3 DiDi                 

          8.4 Grab                

          8.5 Gett                 

          8.6 Ola                  

          8.7 BlaBla Car                   

          8.8 Lime                

          8.9 Herts                

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Ride Sharing Market By Region, From 2021-2026 ( USD Billion )
  2. Global Ride Sharing Market By Service Type, From 2021-2026 ( USD Billion )
  3. Global E-Hailing Market By Region, From 2021-2026 ( USD Billion )
  4. Global Car Sharing Market By Region, From 2021-2026 ( USD Billion )
  5. Global Car Rental Market By Region, From 2021-2026 ( USD Billion )
  6. Global Station-Based Mobility Market By Region, From 2021-2026 ( USD Billion )
  7. Global Ride Sharing Market By Car Sharing Type, From 2021-2026 ( USD Billion )
  8. Global P2P Car Sharing Market By Region, From 2021-2026 ( USD Billion )
  9. Global Corporate Car Sharing Market By Region, From 2021-2026 ( USD Billion )
  10. Global Ride Sharing Market By Vehicle Type, From 2021-2026 ( USD Billion )
  11. Global Internal Combustion Engine (ICE) Vehicle Market By Region, From 2021-2026 ( USD Billion )
  12. Global CNG/LPG Vehicle Market By Region, From 2021-2026 ( USD Billion )
  13. Global Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  14. Global Micro Mobility Vehicle Market By Region, From 2021-2026 ( USD Billion )
  15. Global Ride Sharing Market By Data Service, From 2021-2026 ( USD Billion )
  16. Global Information Service Market By Region, From 2021-2026 ( USD Billion )
  17. Global Navigation Market By Region, From 2021-2026 ( USD Billion )
  18. Global Payment Service Market By Region, From 2021-2026 ( USD Billion )

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