Sarasota, FL -- (SBWIRE) -- 03/07/2019 -- Global Ride Sharing Market: Overview
The concept of ridesharing is basically an arrangement that connects passengers with drivers, in business or privately or owned vehicles. The leading transport network companies generally work on peer-to-peer ridesharing business model and charge a commission for providing their connecting tools to consumers in the form of smartphone applications or websites. The demand and popularity of the ride sharing market across the globe can be attributed to the rise in the need for personal mobility options due to increasing urbanization.
Global Ride Sharing Market: Growth Factors
The major growth driver of the global ride sharing market in the future is the rise in the number of increasing smartphone and internet penetration. Other factors that are anticipated to contribute notably toward the expansion of the ride sharing market globally over the estimated timeframe include the declining rate of vehicle ownership, strict regulations related to carbon dioxide emissions, and increasing need for personal mobility options due to rapid urbanization. Furthermore, the increasing demand for reducing on-road traffic and rising integration of smartphone technology with ridesharing options are projected to further propel the market for ride sharing on a global scale in the upcoming years.
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However, the pressure to maintain an effectively profitable and sustainable ride sharing model might pose a challenge for the ride sharing service providers in the future, thereby being a restraining factor in this global market's growth.
Global Ride Sharing Market: Segmentation
The global ride sharing market is categorized into type, the target demographic, expanse, business model, and ownership. Based on the type, the ride sharing market is classified into fixed long distance, dynamic, and commuting. The commuting ride sharing held a substantial share in 2018 and is likely to maintain its dominant share over the estimated timeframe as well. On the basis of the target demographic, this market includes families, commuters, and others. The expanse segment of this market comprises inter-city and intra-city. By business model, this global market is segmented into business-to-consumer, business-to-business, and peer-to-peer. The ownership segment of this market comprises business-owned, company-owned, and privately owned. The privately owned segment is likely to dominate this market globally in the years ahead, as most of the leading transport network companies use their private vehicles.
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Global Ride Sharing Market: Regional Analysis
By region, this global market is primarily divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. The Asia Pacific ride sharing market is likely to emerge as the fastest growing market globally in the years ahead. This can be attributed to the continuously growing population in the region, particularly in China and India, top transport network companies making substantial investments in this region, and rising focus on developing and restructuring the transport network in urban areas. North America and Europe have developed regions of the global ride sharing market. It is projected that both the regions are likely to hold major shares in this global market over the estimated time period, due to stringent rules and regulations implemented by the governments related to curtailing air pollution caused by vehicular emissions.
Global Ride Sharing Market: Competitive Players
Some most important players of the global ride sharing market are Herts, Lime, BlaBlaCar, Ola, Uber Technologies, Gett, Grab, DiDi Chuxing Technology, Lyft, MyTaxi, Yandex, ANI Technologies, and Carma Technology Corporation, among others.
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Global Ride Sharing Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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