Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the ridesharing market provides an in-depth analysis of segments and sub-segments in the BRICS as well as the regional ridesharing market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional ridesharing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the BRICS ridesharing market. According to the report, the BRICS ridesharing market is projected to grow at a CAGR of 20.13% over the forecast period of 2021-2027.
The BRICS ridesharing market was
valued at USD 116.95 billion in 2020 and is expected to reach USD 420 billion
in 2027, with a CAGR of 20.13% during the forecast period. Ride-sharing links
drivers and passengers directly without the need for a dispatch center and
involves the provision of a taxi-like service via the use of Global Positioning
System (GPS) enabled software. The platforms are account-based, with payments
being automatically processed via the subscriber’s credit card or manually at
the end of the trip. There are different service options are typically
available in the ride-sharing, ranging from shared rides with other passengers
to rides in luxury limousines.
The increase in demand for
cost-saving and time-saving transport are primary driving factors for the
market. The sharing community has several social, environmental, and economic
advantages, however, the main reasons to introduce ride-sharing are based on
the desire to reduce the amount of traffic, fuel consumption and emissions, and
the need for parking spaces. Furthermore, ride-sharing is considered to provide
an attractive alternative to public transport and improve social interactions.
In this work specifically, besides reducing the environmental impact of
participants, ride-sharing is hoped to decrease the daily traffic congestions
as well as to ease the complex parking situation. However, resistance from
traditional transport services is restraining the ride-sharing market in BRICS
countries. Moreover, the market players have an attractive opportunity in the
electric vehicle ride-sharing space. The COVID-19 pandemic has upended
commerce, mobility, and social norms around the world in unprecedented ways
(ITF 2020a). The travel and transportation industries, which are directly
linked, have been particularly impacted as the daily transactional and social
interactions among people have ceased or have been severely restricted.
Geographically, China holds the
largest market share in the BRICS ride-sharing market. Didi facilitates 20 and
30 million trips per day from 2017 to 2019. Didi is China’s largest
ride-sharing platform. In India, cost-effective and convenient mobility offered
by ride-sharing service providers is the prime factor supporting the growth of
the market. The demand for ride-sharing in Brazil is increasing. Brazil is Uber’s
biggest market outside of the US, with over 600,000 drivers serving 100+ cities
in the country.
The report on the BRICS ridesharing
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 Didi Chuxing, Uber Technologies, Grab, Ani
Technologies Pvt. Ltd (OLA), 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 the ridesharing market. Moreover, the study highlights current market
trends and provides forecast from 2021-2027. 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.
Please Choose One of them.