Ride Sharing Market 2019-2023 | Analysis by Size, Share, Global Trends, Key Players, Business Model, Demand, Forecast Till 2023

Global Ride Sharing Market is expected to witness exponential growth during the forecast period 2019-2023.

Global Ride Sharing Market Segmentation Analysis by Type, Vehicle Type, Business Model and Region. Growing congestion on roads, along with pollution emission from private vehicles has prompted people to opt for ride sharing and carpooling. This industry has some of the largest players operating globally, including Uber Technologies Inc., Lyft, Inc., and Didi Chuxing Technology Co., to name a few. Ride Sharing Market Size To Expand at a Notable CAGR Of 10% During 2019 – 2023

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Key Players Studied in this Report:

The prominent players in the global Ride Sharing Market include Uber Technologies Inc. (U.S.), Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), Gett (Israel), ANI Technologies Pvt. Ltd. (India), GrabTaxi Holdings Pte. Ltd. (Singapore), Taxify (Estonia), Careem (UAE), Cabify (Spain) and car2go (Germany).

Ride Sharing Market Overview:

Technological advancements in the automotive industry have been on the rise in the last five years. Newer concepts such as autonomous vehicles, connected cars and electric vehicles have been at the forefront of these developments. Ride sharing, which includes an online platform for booking rides, has also witnessed tremendous growth, in terms of revenue, in the last 2 to 3 years.

Factors such as improving public transport and resistance offered by existing local taxi services, particularly in emerging countries, could, however, pose a threat to the growth of this market. However, various incentives offered by major ride sharing companies and introduction of electric vehicles in the fleet have had a positive impact on the market.

Ride Sharing Market Segmentation:

The global ride sharing market is segmented on the basis of type, vehicle type, business model, and region.

On the basis of type, the e-hailing segment is estimated to witness the fastest growth over the forecast period. Growing penetration of smartphones and ease of operation of carpooling and car sharing applications are expected to be the major drivers of the market in this segment. Major ride sharing companies such as Uber Technologies Inc., Lyft, Inc, and Didi Chuxing Technology Co. are working closely with automotive OEMs, to introduce more cars for sharing in the market.

On the basis of vehicle type, electric vehicles are projected to grow at the highest CAGR from 2018 to 2023. Reducing price of electric vehicles and improving charging facilities have resulted in growing demand for electric vehicles globally. Besides, several incentives offered by governments and environmental associations encouraging the use of electric vehicles for ride sharing and carpooling have also played a major role in the growth of the market in this segment.

The market is also segmented on the basis business model. The B2B segment is projected to witness the fastest growth over the forecast period. Tie-ups between corporates and ride sharing companies in order to make the travelling experience of employees more comfortable have majorly driven the market in the B2B segment.

Regional Analysis of Ride Sharing Market:

In terms of region, the global Ride Sharing market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to account for a substantial share of the market over the forecast period. This region is characterized by some of the developed countries in the world, such as the U.S. and Canada. These countries have stringent regulations regarding vehicle emissions, which has been a key factor driving the demand for ride sharing services.

The market in the Asia Pacific region, dominated by countries such as China, Japan and South Korea, is projected to witness the highest growth over the forecast period. The upcoming market in emerging countries such as India provides a huge opportunity for global the players to expand. This was evident from the expansion of Uber Technologies Inc., which has established itself as one of the major players in this country, in a short span of time.

Table of Contents

1. Executive Summary

2. Scope of The Report

2.1. Market Definition

2.2. Scope of The Study

2.2.1. Definition

2.2.2. Research Objective

2.2.3. Assumptions

2.2.4. Limitations

2.3. Research Process

2.3.1. Primary Research

2.3.2. Secondary Research

2.4. Market Size Estimation

2.5. Forecast Model

3. Market Landscape

3.1. Porter’s Five Forces Analysis

3.1.1. Threat of New Entrants

3.1.2. Bargaining Power of Buyers

3.1.3. Threat of Substitutes

3.1.4. Segment Rivalry

3.1.5. Bargaining Power of Buyers

3.2. Value Chain/Supply Chain Analysis


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