Dublin, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The "Global On-demand Transportation Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global on-demand transportation market size reached US$ 155.2 Billion in 2022. Looking forward, the market is expected to reach US$ 443.1 Billion by 2028, exhibiting a growth rate (CAGR) of 19.11% during 2022-2028. 
The global on-demand transportation market is primarily driven by the rising sales of smartphones. Additionally, a significant increase in traffic-related problems, growing costs of fuel, reduced parking spaces and high costs of automobiles has positively influenced the demand for on-demand transportation services. They offer improved security and safety by utilizing intelligent communication systems.
In line with this, numerous developments in the information and technology (IT) infrastructure, coupled with the increasing demand for cab/taxi services by individuals, are acting as another growth-inducing factor. Moreover, on-demand transportation relies on artificial intelligence (AI) to efficiently coordinate and manage transportation systems.
It provides passengers with traffic-related information for improved coordination with the drivers. This, in turn, is creating a favorable outlook for the market. Other major factors anticipated to fuel the growth of the market include increasing tourism activities across the globe, increasing working-class population, rising trend of road trips and modernization in the automotive sector.
Key Questions Answered in This Report
- What is the expected growth rate of the global on-demand transportation market during 2023-2028?
- What are the key factors driving the global on-demand transportation market?
- What has been the impact of COVID-19 on the global on-demand transportation market?
- What is the breakup of the global on-demand transportation market based on the service type?
- What is the breakup of the global on-demand transportation market based on the vehicle type?
- What is the breakup of the global on-demand transportation market based on the application?
- What are the key regions in the global on-demand transportation market?
- Who are the key players/companies in the global on-demand transportation market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $155.2 Billion |
| Forecasted Market Value (USD) by 2028 | $443.1 Billion |
| Compound Annual Growth Rate | 19.1% |
| Regions Covered | Global |
Competitive Landscape
- ANI Technologies Pvt. Ltd
- Avis Budget Group Inc.
- Bayerische Motoren Werke AG
- Daimler AG
- Ford Motor Company
- Gett Inc.
- Grab Holdings Inc.
- International Business Machine Corporation
- Lyft Inc.
- Robert Bosch GmbH
- Toyota Motor Corporation
- Uber Technologies Inc.
Key Market Segmentation
Breakup by Service Type:
- E-Hailing
- Car Sharing
- Car Rental
- Station-Based Mobility
Breakup by Vehicle Type:
- Four-Wheeler
- Micro Mobility
Breakup by Application:
- Passenger Transportation
- Goods Transportation
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/3i41lo
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