What Will Generate the Next Growth Up-Surge in Ride Sharing Market?
Ride Sharing Market to reach USD 220.5 billion by 2025.Ride Sharing Market is valued approximately USD 51.3 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 20% over the forecast period 2018-2025. Rising vehicle prices along with the increase in prices of fuel are the major factors which are driving the growth in the Global Ride Sharing Market. Growth in the prices of vehicles such as the car has resulted in a declining number of car owners, and the increasing trend of having personal mobility is leading to the growth of the market. Additionally, integration of ride-sharing services with the smartphones is another major driver boosting the market. However, variation in policies in different regions and economics limitations in several countries restrict the market growth.
An arrangement that connects drivers with passengers via a website or an app is known as ride sharing. The vendors that provide the services are known as transportation network companies. The business model is selected by these companies according to the targeted demographic of the area. There are numerous benefits associated with the ride-sharing such as it provides a convenient ride. The commuters can go wherever they want to go conveniently with no need to have a personal vehicle or to use a bus or taxi. Moreover, ride sharing is cost-effective; as more than one person share the ride and it is easy to get a ride through app or website. Owing to such benefits, the market for ridesharing is estimated to grow significantly in the near future.
Key areas considered for regional analysis of global Ride Sharing Market includes Asia Pacific, North America, Europe, Latin America and Rest of the World. In region such as Asia-Pacific, Middle-East and Africa, rise in usage of passenger vehicles set the growth in ride sharing market over the forecasted period 2018-2025. Asia-Pacific is estimated to hold a prominent share of the ride sharing market. Developing countries, such as India and China, are significant players boosting the demand for the Ride Sharing Market. Europe, North America and the Middle East and Africa are continuously witnessing infrastructural growth which fueling the demand of Ride Sharing Market over the coming years. Asia Pacific region is contributing towards the growth of global ride sharing market and anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The leading Market players mainly include-
• Ola (Ani Technologies)
The objective of the study is to define market size of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Fixed Long Distance Ridesharing
By Target Demographic
By Business Model
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Ride Sharing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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This post was originally published on Aerospace Industry