Pune, India, February 21, 2019/MRFR Press Release/- Market Research Future published a half-cooked research report on Global Ride Sharing Market. The global Ride Sharing Market is expected to witness 19.2% CAGR during the period, 2020 to 2027.
Technological advancements in the automotive industry have been on the rise in the last five years. Newer concepts such as autonomous vehicles, connected cars and electric vehicles have been at the forefront of these developments. Ride sharing, which includes an online platform for booking rides, has also witnessed tremendous growth, in terms of revenue, in the last 2 to 3 years.
Growing congestion on roads, along with pollution emission from private vehicles has prompted people to opt for ride sharing and carpooling. This industry has some of the largest players operating globally, including Uber Technologies Inc., Lyft, Inc., and Didi Chuxing Technology Co., to name a few.
Factors such as improving public transport and resistance offered by existing local taxi services, particularly in emerging countries, could, however, pose a threat to the growth of this market. However, various incentives offered by major ride sharing companies and introduction of electric vehicles in the fleet have had a positive impact on the market.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Ride Sharing Market Research Report
Drivers: Ride Sharing
Market Research Analysis
In terms of region, the global Ride Sharing market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to account for a substantial share of the market over the forecast period. This region is characterized by some of the developed countries in the world, such as the U.S. and Canada. These countries have stringent regulations regarding vehicle emissions, which has been a key factor driving the demand for ride sharing services.
The market in the Asia Pacific region, dominated by countries such as China, Japan and South Korea, is projected to witness the highest growth over the forecast period. The upcoming market in emerging countries such as India provides a huge opportunity for global the players to expand. This was evident from the expansion of Uber Technologies Inc., which has established itself as one of the major players in this country, in a short span of time.
Scope of the Report
This study provides an overview of the global Ride Sharing Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Ride Sharing Market by type, vehicle type, business model and region.
The prominent players in the global Ride Sharing Market include Uber Technologies Inc. (U.S.), Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), Gett (Israel), ANI Technologies Pvt. Ltd. (India), GrabTaxi Holdings Pte. Ltd. (Singapore), Taxify (Estonia), Careem (UAE), Cabify (Spain) and car2go (Germany).