Pune, July 29, 2020 (GLOBE NEWSWIRE) -- The global ride sharing market size is expected to reach USD 212.60 billion by 2026, exhibiting a CAGR of 2.0% during the forecast period. The lack of proper public transport systems in the developing nations is expected to entice key players to invest heavily in those regions, mentioned in a report, titled “Ride Sharing Market Size, Share & COVID-19 Impact Analysis, By Type (E-Hailing and Station Based), By Commute Type (Long Distance, Corporate, and Inter City), By Application Type (iOS, Android, and Others) and Regional Forecasts, 2019-2026” the market size stood at USD 182.12 billion in 2018.
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The report on the ride sharing market encompasses:
- Exceptional insights on all the key developments
- Comprehensive research
- Key drivers and trends
- Comprehensive information about key players
Market Driver:
Surge in Micro-mobility to Boost Growth
The growing demand for micro-mobility consisting of light vehicles such as mopeds, bikes, scooters, and longboards will have a tremendous impact on market growth. The growing knowledge about shared micro-mobility among commuters will simultaneously generate market revenue owing to the necessity for hassle-free ride options. Moreover, the growing traffic congestions in metro cities has led to numerous problems for daily commuters, besides offering vast opportunities for ride sharing.
For instance, Volkswagen Group has started the promotion of micro-mobility with the introduction of Cityskater and Streetmate electric scooters in Geneva as a part of their electric mobility plan. Similarly, Daimler and BMW have collaborated to offer scooters on rent in more than 6 cities in Europe. Also, the growing carbon emissions have created major concerns regarding the environmental change, which will consequently increase the requirement for ride sharing and boost market prospects in the forthcoming years.
Decline in Cab Services During Coronavirus
The automotive and travel industry has witnessed a steep downfall in the number of consumers and commuters due to the novel coronavirus. The new policies and norms imposed by the government to support social distancing, and hygiene protocols will pose a new challenge for the market. The panic and fear among people regarding the spread of infection during traveling can further thwart the development of the market amid the COVID-19 pandemic. The avoidance of cab services during the pandemic will directly affect and create new obstacles for the expansion of the global market.
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Rising Development of Electric Cars to Aid Expansion in North America
The market in North America is expected to grow rapidly during the forecast period owing to the enormous demand for electric cars in countries such as Canada, the US, and Mexico. The increasing technological advancement in ride services will create vast scope for the market. For instance, Lyft, an American ride sharing company became the first the introduce green mode, which provides electric car ride share to its customers. The ‘Green City Initiative’ will help to reduce the use of fossil fuels. Europe is expected to witness a substantial growth rate during the forecast period due to the flourishing automotive industry in the region. Also, the rising partnerships between service providers and the government to promote ride sharing services will aid the expansion of the market in Europe.
Key Development:
October 2018: Grab Taxi Holdings announced a strategic partnership with Microsoft Corporation to drive innovation and transform mobility and digital services by leveraging machine learning and artificial intelligence capabilities from Microsoft.
List of the Leading Companies Profiled in the Ride Sharing Market Research Report are:
- Uber Technologies Inc. (San Francisco, California, United States)
- Didi Chuxing Technology Co. (Beijing, China)
- Gett (Tel Aviv, Israel)
- ANI Technologies Pvt. Ltd. (Bengaluru, India)
- GrabTaxi Holdings Pte. Ltd. (Singapore)
- Bolt Technology OÜ (Tallinn, Estonia)
- Careem (Dubai, UAE)
- Maxi Mobility S.L. (Madrid, Spain)
- car2go NA, LLC (Stuttgart, Germany)
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Ride Sharing Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- E-Hailing
- Station Based
- Market Analysis, Insights and Forecast – By Application Type
- iOS
- Android
- Others
- Market Analysis, Insights and Forecast – By Commute Type
- Long Distance
- Corporate
- Inter City
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
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Have a Look at Related Research Insights:
Ride-Hailing Market Size, Share & Industry Analysis, By Service Type (E-hailing, Car Sharing, Car Rental, Others), By Vehicle Type (Two Wheeler, Car, Others), By Payment Method (Cash, Online), By Location Type (Urban, Rural), By End-User (Personal, Commercial) and Regional Forecast, 2019-2026
Mobility as a Service Market Size, Share, and Industry Analysis, By Service Type (Ride-Hailing, Car Sharing, Taxi Services, Others). By Application Type (iOS, Android and Others), and Regional Forecast, 2019-2026
Connected Car Market Size, Share & Industry Analysis, By Service(mobility, telematics, infotainment, driver assistance), By Connectivity (embedded, tethered, integrated), By Vehicle (passenger car, light commercial vehicle, heavy commercial vehicle), and Regional Forecasts, 2019-2026
Intelligent Transportation Systems Market Size, Share and Industry Analysis, By Type (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Public Transportation System, Advanced Transportation Pricing System, and Others), and regional Forecast till 2019-2026
Advanced Driver Assistance Systems (ADAS) Market Size, Share & Industry Analysis, By System Type (Adaptive Cruise Control, Blind Spot Detection, Park Assist, Lane Departure Warning System, Autonomous Emergency Braking, Heads-Up Display, Intelligent Headlights), By Component Type (LiDAR, Radar, Camera, Sensors), By Vehicle Type (Passenger Car, Light Commercial Vehicle) and Regional Forecasts, 2019-2026
Automotive Infotainment Market Size, Share & Industry Analysis, By System Type (Dashboard, Rear Seat), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle), By Market Type (OEMs, Aftermarket), and Regional Forecasts, 2019-2026
Automotive Electronics Market Size, Share & Industry Analysis, By Application Type (Advanced Driver Assistance System (ADAS), Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) and Regional Forecasts, 2019-2026
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