A recent report published by Infinium Global Research on ride sharing market provides in-depth analysis of segments and sub-segments in the global as well as regional ride sharing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ride sharing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ride sharing market. According to the report, the global ride sharing market is projected to grow at a CAGR of 19.2% over the forecast period of 2019-2025.
New age technology solutions are supporting the growth of ride sharing market. Companies operating in ride sharing market are focusing on mergers, acquisitions, and new product launches that expand their market share. The growing concern regarding the environment enforces the government to take initiative in promoting ride sharing services.
The increasing need to save fuel drives the growth of ride sharing market. Factors such as high volatility of fuel prices, rising traffic problems, and surge in working-class contributes to the growth of ride sharing market. The government is also supporting ride sharing activities due to increasing pollution and rising global temperature occurring with emissions from vehicles. Government initiatives to minimize traffic promote the growth of ride sharing market. Nowadays, ride sharing apps are gaining popularity. In addition, increasing the use of smartphones, high internet speed, and the use of different applications propel the growth of ride sharing market. On the flip side, the increasing use of ride sharing apps hampers the business of local taxi drivers that hinders the growth of ride sharing market. Moreover, the development of leading auto manufacturers creates numerous opportunities for the growth of ride sharing market.
Based on geography, the global ride sharing market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific is expected to have a dominant share in the global ride sharing market. The growing demand for ride sharing services, flexible government laws, and lesser GDP per capita in countries like India, China drives the growth of ride sharing market in Asia-Pacific. North America is anticipated to grow in the global ride sharing market with a healthy CAGR over the forecast period. The presence of global players in North America contributes to the growth of North America ride sharing market. Europe is showing growth in the global ride sharing market. Intercity traveling with ride sharing is growing in Europe owing to the lesser distance between major cities.
The report on global ride sharing market covers segments such as commuting distance, vehicle type, service provider, and business model. On the basis of commuting distance, the sub-markets include intercity, and intra city. On the basis of vehicle type, the sub-markets include sedan, hatchback, van, buses, utility vehicle, and coaches. On the basis of service provider, the sub-markets include OEM, private, and OEM and private. On the basis of business model, the sub-markets include business to business, peer to peer, and business to consumer.
The report provides profiles of the companies in the market such as ANI Technologies Pvt. Ltd., Uber Technologies Inc., Lyft, Inc., Grab Holding, Inc., Careem, Taxify OU, Gett, Beijing XiaoJu Keji Co., Curb Mobility, LLC, Cabify, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ride sharing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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