As per this study, the Global Ride Sharing Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%.
Ride-sharing is also known as carpooling, and vanpooling is a real-time mobility service in which, a single ride is shared by more than one person traveling along the same route irrespective of traveler’s distance. In this service, different passengers are picked up from different places and are dropped to their destination. Ride sharing is a convenient way of sharing journeys which reduces fuel costs, air pollution, traffic congestion on roads, carbon emissions, and need for parking spaces. Ride-sharing services can also be enabled by Android, and iOS users to commute with the help of GPS and internet connection in smartphones.
The increasing usage of smartphone and internet coupled with increasing population is augmenting the market demand of the ridesharing market. Additionally, rising fuel prices, and stringent carbon emissions reduction regulations are further inclining passengers to share rides which in turn boosting the market growth. On the downside, the reluctance of passengers towards ridesharing, as it consumes a lot of time for traveling, restrains the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of ride sharing.
The broad ride sharing market has been sub-grouped into business model and commute type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Business Model
By Commute Type
- Long Distance
- Short Distance
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for ride sharing in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Ride Sharing Market Size, Share Analysis Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the ride sharing market include Didi Chuxing Technology Co., Ltd., Gett Inc., GrabTaxi Holdings Pte Ltd., Lyft Inc., Uber Technologies Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.