Ride Sharing Market

SKU: DMAUTR493 | Last Updated On: Nov 16 2022 | Available Formats

> Global Ride Sharing Market Expected to reach a high CAGR 15.85% By 2029: DataM Intelligence

Global Ride Sharing Market is segmented By Type (Peer to Peer Car sharing, Free-floating Car sharing, Stationary Car sharing, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Ride Sharing Market is expected to grow at a CAGR of 15.85% during the forecasting period (2022-2029).

Ride Sharing Market - Strategic Insights

Metrics

Details

Market CAGR

15.85%

Segments Covered

By Type, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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  • Ridesharing is a passenger transportation alternative where people share vehicle seats to reduce their cost of transportation.
  • Ride-sharing services will lessen the traffic, and vehicle emissions into the environment and reduce vehicle costs. The person needs to use specific service provider smartphone apps to avail of the services.
  • Ride-sharing still constitutes a tiny percentage of the total vehicle miles traveled. Smartphone & GPS has changed the ride-sharing market dramatically. Once the number of users & drivers reaches critical mass, it results in an extremely efficient system.

Industry Trends

  • As smartphone penetration, internet penetration, and urban population increase, the ride-sharing market will overgrow.
  • The ride-sharing market has impacted the Auto Industry in a significant way. In a well-functioning ride-sharing environment ride-sharing users often postpone car purchases. This is especially true in developing countries.
  • Lack of parking space and permits in the major cities is the crucial restraint that affects market growth.
  • Although Ridesharing drivers often work long hours, they earn barely above minimum wage & don’t enjoy any other benefits that are available to full-time employees. Which is a significant disadvantage for the market?

Market Segmentation

  • The market can be segmented into Peer Peer Car sharing, Free-floating Car sharing, Stationary Car sharing, and others.
  • Transportation Network Companies are the most significant segment. Transportation Network Companies offer rides in private passenger cars.
  • Thereby the passenger requests a trip and will then be matched with a driver. Carpooling Services charges a commission for helping people go the same way to organize carpools using private vehicles. Others include online taxi bookings.

Geographical Share

  • By region, the market can be segmented into North America, South America, Europe, Asia-pacific, and the rest of the world.
  • China dominates the ride-sharing market regarding revenue.
  • The market in the Asia-Pacific region is expected to expand in the future.
  • The combined share of China & the United States in the Ridesharing market is around 77%.

Market Competition Size

Didi Chuxing is the biggest ride-sharing service-based company followed by Uber. BlaBlaCar is one of the most prominent carpooling companies. Other players include Lyft, Grab, Curb, Ola, Gett, BlaBlaCar, Zimride, and Car2Go.

FAQ

What is the Ride Sharing Market growth?

The market is growing at a CAGR of 15.85%.

What is the Ride Sharing Market size in 2021?

The Market size was valued at USD YY million in 2021.

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