Ride Sharing Market

Introduction of the Global Ride Sharing Market Report

Ride sharing offers an appropriate access to personal mobility anywhere and anytime. It is a service that arranges one-way transportation on short notice, and the rider shares the vehicle with other riders. A ride sharing company is a company which matches the passengers with the drivers of vehicles for hire by various platforms such as mobile apps and websites. It permits the traveling of multiple passengers in the same direction to request a ride and share the same driver to the respective destinations.

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Factors including growing demand for time and cost-effective transportation, strict government norms to promote ridesharing options to reduce traffic, and rising cost of vehicle ownership are forecast to expand the ride sharing market size over the upcoming years. In addition, the advent of big data analytics, Artificial Intelligence, and Internet of Things to facilitate smart transportability options with the rising demand for carpooling services to reduce cost and avoid traffic will bolster the global ride sharing market growth.

With the growing safety concerns associated with the use of public transport facilities, government has taken several initiatives to encourage ride sharing services to reduce the traffic and daily travel time is projected to bolster the Ride Sharing market growth. Moreover, increasing fuel prices, insufficient parking space, and rising road traffic have augmented the demand for carpooling, thereby fueling the ride sharing service market growth. The growing demand for autonomous vehicles, smart transportation, and mobility as a service (MaaS), have strengthened the Ride Sharing Market Share.

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Based on the service type, the station-based mobility segment is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the various benefits of station-based ride sharing such as it enables to meet the consumer demand like the need of freedom & convenience and helps in congestion reduction. Moreover, various government incentives for station-based mobility across the world is also a major factor that is accelerating the growth of the market of this segment.

Based on the data service, the navigation segment is projected to grow at a higher CAGR during the forecast period as this service is essential for the ride sharing services owing to its ability to provide guidance to the passengers and drivers about the route and location. Furthermore, an increase in the number of ride sharing service users worldwide is also a key factor in boosting the market growth of this segment.

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Based on the region, the Asia-Pacific region is expected to increase at a higher CAGR in the upcoming years due to the rising usage of ride sharing services across several countries like China and India. Moreover, increasing government initiatives to encourage the usage of ride sharing services and carpooling and rising concerns among the population to decrease environmental pollution are some other factors which are bolstering the growth of the ride sharing market in this region.

Various notable players operating in the market include Lyft, Inc., Uber Technologies Inc., Gett, DiDi, Ola (ANI Technologies Pvt. Ltd.), Grab, Intel Corporation, BlaBlaCar, Aptiv, and TomTom International BV., among others. 

Key Developments: 

• • In 2021, Lyft, Ford and Argo AI initiated an autonomous rideshare service in Miami, which offers a delivered commitment to deploy Ford’s autonomous vehicles, powered by the Argo Self-Driving System, on Lyft’s ridesharing network.
  • In 2021, Uber Technologies, Inc. introduced Uber One in US, which incorporates rides and delivery to make every ride more comfortable for users with monthly and yearly subscriptions.
  • In 2021, DiDi Autonomous Driving, entered in a strategic partnership agreement on the development of fully self-driving new energy vehicles with the goal of mass production.
  • In 2021, Uber Technologies, Inc. and Walgreens introduced a latest feature that will help consumers to book vaccination appointments and schedule their Uber ride to the vaccination appointment. With all adults in the US eligible to get the COVID-19 vaccine, Uber and Walgreens are emphasizing on ensuring that transportation is not a barrier to receiving a vaccination.
  • In 2020, Intel Corporation acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for about USD 900 million. Through this acquisition, the company planned to become a complete mobility provider that also includes the robotaxi services.
  • In 2020, Gett entered into a strategic partnership agreement with Ola Cabs, a ride-sharing company. In this agreement, the business clients of Gett will receive the service from the ola drivers worldwide by the Gett SaaS platform.

The global ride sharing market has been segmented on the basis of service type, type, vehicle type, data service, distance, and regions. Based on service type, the market is segmented into car sharing, e-hailing, station-based mobility, and car rental. Based on type, the market is segmented into corporate car sharing and p2p car sharing. Based on vehicle type, the market is segmented into CNG/LPG vehicle, ICE (Internal Combustion Engine) vehicle, micro mobility vehicle, and electric vehicle. The micro mobility vehicle segment is further categorized into scooter, bike/bicycle, and others. Based on data service, the market is segmented into navigation, information service, payment service, and other. Based on distance, the market is segmented into the short distance and long distance. 

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Key questions answered in this research report:

• • At what pace is the global ride sharing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the ride sharing market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global ride sharing market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various vehicle types of the global ride sharing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Ride Sharing Market by Service Type

• • Car Sharing
  • E-Hailing
  • Station-Based Mobility
  • Car Rental

Global Ride Sharing Market by Type

• • Corporate Car Sharing
  • P2P Car Sharing

Global Ride Sharing Market by Vehicle Type

• • CNG/LPG Vehicle
  • ICE (Internal Combustion Engine) Vehicle
  • Micro Mobility Vehicle
    • Scooter
    • Bike/Bicycle
    • Others
  • Electric Vehicle

Global Ride Sharing Market by Data Service

• • Navigation
  • Information Service
  • Payment Service
  • Other

Global Ride Sharing Market by Distance

• • Short Distance
  • Long Distance

Global Ride Sharing Market by Region

• • North America Ride Sharing Market (Option 1: As a part of the free 25% customization)
    • By Service Type
    • By Type
    • By Vehicle Type
    • By Data Service
    • By Distance
    • US Market All-Up
    • Canada Market All-Up
  • Europe Ride Sharing Market (Option 2: As a part of the free 25% customization)
    • By Service Type
    • By Type
    • By Vehicle Type
    • By Data Service
    • By Distance
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Ride Sharing Market (Option 3: As a part of the free 25% customization)
    • By Service Type
    • By Type
    • By Vehicle Type
    • By Data Service
    • By Distance
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Rides Sharing Market (Option 4: As a part of the free 25% customization)
    • By Service Type
    • By Type
    • By Vehicle Type
    • By Data Service
    • By Distance
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Ride Sharing Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Lyft, Inc.
  • Uber Technologies Inc.
  • Gett
  • DiDi
  • Ola (ANI Technologies Pvt. Ltd.)
  • Grab
  • Intel Corporation
  • BlaBlaCar
  • Aptiv
  • TomTom International BV.