Synopsis:

As per the report circulated by the experts the scope of the global Ride Sharing Market was priced at US$ 6.68 billion in 2017. This is expected to reach US$ 11.94 billion by 2025 with a CAGR of 7.5% during the period of forecast. An organization that links car driver with travelers by means of an app or else a website is recognized as ride sharing. The sellers that deliver the facilities are recognized as the companies of transport system.

The model of the business is designated by way of these companies consistent with the targeted clienteles of the zone. There are several paybacks accompanying with the ride sharing for example it delivers a suitable journey. The travelers can go anywhere they need to go, conveniently having no necessity to take a private vehicle or to take a ride of taxi or bus. Furthermore, ride sharing is price operative; because beyond one person share the ride and it is easy to catch a ride over a website or an app. Due to such profits, the global market for ridesharing is expected to develop considerably during the nearby years.

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Drivers:

The growing necessity to decrease traffic bottleneck in city areas and demand for price effective manner of travel having better quality coziness are the important reasons motivating the development of the ride sharing industry.

Growing infiltration of smart apparatuses, for example tablets, smart phones and others is expected to motivate the market. Smart personal apparatuses hold the maximum importance in the model of the business of ride sharing because these are the platforms on which the apps are installed.

Increasing prices of the vehicle together with the upsurge in the prices of fuel are the most important reasons those are motivating the development in the global ride sharing market. Progression in the prices of automobiles for example the car has caused in a decreasing the number of car possessors and the growing inclination of taking individual freedom of movement is heading to the development of the market. Furthermore, combination of ride-sharing services by way of the smartphones is an additional most important motivator advancing the development of the global market for ride sharing.

Restraints:

On the other hand, dissimilarity in strategies in diverse states and financial restrictions in a number of nation state hamper the development of the ride sharing industry.

Classification:

The global ride sharing market can be classified by Type of Travel, Business Model, Ownership Target Customers and Region. By Type of Travel, it can be classified as: On Demand, Short Distance, Corporate, Fixed Long Distance Ridesharing, Commuting Ridesharing, and Dynamic Ridesharing. By Business Model, it can be classified as: Business to Consumer (B2C), Peer to Peer (P2P), and Business to Business (B2B) By Ownership, it can be classified as: Business Owned, Privately Owned, and Company Owned. By Target Customers, it can be classified as: Families, Commuters and Others.

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Regional Lookout:

By Region the global ride sharing industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. In 2017, North America headed the market by way of holding nearby 94.0% share of the regional market by the U.S.A. Yet Asia is expected to exceed North America for the duration of the forecast. Lyft and Uber are the most important platforms functioning within the province. Although Uber grasps the mainstream share, Lyft has effectively increased its share within the province.

Asia is a prospective market for the platforms of ride sharing having a huge number of speedily increasing towns and cities. The state is a home for the two biggest nations by means of population, India and China. At present China is leading the market of ride hailing and is expected to observe speedy development in ride sharing during the period of forecast. India has observed a respectable development during the previous a small number of years however the business has not yet grabbed completely the potential of the nation.

Likewise, Europe is not yet completely functioning. The nations like Germany still showing unwillingness to become accustomed with the idea. Advanced nation state for example France and the U.K., have actively accepted the platforms of bike and four-wheeler sharing during the previous years.

South East Asia is additional noticeable market. The nations of ASEAN group are the home to numerous speedily developing economies for example Thailand and Indonesia. Australia has displayed decent development during the past a small number of years and is expected to carry on during the period of forecast.

Yet Mexico and Latin America are in emerging phase. The prosperous automobile industry of Mexico is expected to get advantage from the platforms of ride hailing and shared travelling for the duration of the forecast.

Companies:

Some of the important companies for ride sharing market are: GRAB, Uber Technology Inc., Didi Chuxing, Yandex Taxi, Easy task, Lyft, Haxi, Hitch-a-Ride, Go Jerk, Ola (Ani Technologies), Gett, Denso, Tom-tom, Blabla Car, and Aptiv.

Market Segment:

Ride Sharing Business Model Outlook (Revenue, USD Million, 2015 - 2025)
• P2P
• B2C
• B2B

Ride Sharing Commute Type Outlook (Revenue, USD Million, 2015 - 2025)
• Long Distance
• Corporate
• Short Distance

Ride Sharing Market Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Asia
• China
• India
• South Korea
• South East Asia
• ASEAN
• Australia
• Latin America
• Brazil
• Mexico
• RoW

10-oct-19 The global Ride Sharing market was valued at $XX million in 2018, and analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2018 and 2028.

This report provides detailed historical analysis of global market for Ride Sharing from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Ride Sharing market.

Leading players of Ride Sharing including:

• Uber
• Lyft
• Fasten
• Haxi
• Via
• Didi Chuxing
• Ola Cabs
• Grab

Market split by Type, can be divided into:

PC Terminal

Mobile Terminal

Market split by Application, can be divided into:

• Age 18-24
• Age 25-34
• Age 35-44
• Age 45-54
• Age 55-64

Market split by Sales Channel, can be divided into:

• Direct Channel
• Distribution Channel

Market segment by Region/Country including:

• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

Table of Contents

Chapter 1 Ride Sharing Market Overview
1.1 Ride Sharing Definition
1.2 Global Ride Sharing Market Size Status and Outlook (2013-2028)
1.3 Global Ride Sharing Market Size Comparison by Region (2013-2028)
1.4 Global Ride Sharing Market Size Comparison by Type (2013-2028)
1.5 Global Ride Sharing Market Size Comparison by Application (2013-2028)

Chapter 2 Ride Sharing Market Segment Analysis by Player
2.1 Global Ride Sharing Sales and Market Share by Player (2016-2018)
2.2 Global Ride Sharing Revenue and Market Share by Player (2016-2018)
2.3 Global Ride Sharing Average Price by Player (2016-2018)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player

Chapter 3 Ride Sharing Market Segment Analysis by Type
3.1 Global Ride Sharing Market by Type
3.1.1 PC Terminal
3.1.2 Mobile Terminal
3.2 Global Ride Sharing Sales and Market Share by Type (2013-2018)
3.3 Global Ride Sharing Revenue and Market Share by Type (2013-2018)
3.4 Global Ride Sharing Average Price by Type (2013-2018)

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March 15, 2019: The global ride sharing market size is projected to reach USD 11.94 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.5% during the forecast period. Increasing awareness in regular commuters regarding environmental deterioration due to vehicle emission is expected to drive the growth.

The unprecedented expansions of cities and towns and the inherent traffic congestion issues are anticipated to play a crucial role in driving the market for ride sharing in the forthcoming years. Growth in international trade and globalization has facilitated development of many major and minor economies all over the world. This economical and industrial growth has directly impacted the demographics and helped rapid urbanization in many countries.

The B2C business type ride sharing segment is estimated to lead the ride sharing market in 2017 and is expected to continue its dominance through the forecast period. This expanison is attributed to the introduction of ride sharing module in the existing platforms provided by established ride hailing players.

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The peer-to-peer ride sharing segment is expected to register the highest CAGR over the forecast period, attributed to rising awareness among commuters and also to introduction of newer user-friendly platforms.

The corporate type of commute is estimated to lead the ride sharing market with a slight edge, however the short distance commutes segment is expected to take the lead in the market over the forecast period. The long distance commute type is also projected to register healthy growth amid growing trend of sharing personal vehicles through ride sharing platforms in North America and Europe.

North America led with a market share of around 45.0% in 2017. The region is home to the two major players - Uber and Lyft - competiting to gain more customer base. Asia Pacific followed North America to take the second spot in terms of market share. However, the region is expected to overtake North America over the forecast period. Didi Chuxing and OLA are the two major players in the Asian market.

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Further key findings from the study suggest:

• The North American short distance segment was valued at USD 1.04 billion in 2017
• Indian B2C market is expected to reach USD 815.0 million by 2025, registering a CAGR of 12.7% from 2018 to 2025
• B2C business model and short distance commute is expected to lead the ride sharing market till 2025
• Latin American long distance segment is expected to expand at a CAGR of 9.1% from 2018 to 2025
• South East Asia is another prominent market with the presence of many developing countries such as Indonesia and Thailand in ASEAN nations
• Key market players include GRAB, Uber, and Didi Chuxing among others.

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The global ride sharing market is projected to reach USD 169.82 billion by 2025. Factors that are driving the market are internet penetration and technology adoption in developing countries such as India, China and Brazil. Moreover, capitalizing on the growing need of transportation services, as well as the developing technology sophistication and usage of population have led to innovative mobility model of ride sharing.

A study titled “Global Ride Sharing Market” was launched by Adroit Market Research in December 2018: the market is segmented by Type (On-demand, Commute and Long Distance), By Region (North America, Europe, Asia Pacific and Rest of World) and Forecast 2018 to 2025”. The study covers global ride sharing market value for a period ranging in between 2015 to 2025, where 2015 to 2017 imply the historical value with forecast between 2018 and 2025. The global ride sharing market report also includes qualitative insights of the market such as value chain analysis, porters five forces analysis and investment trends.

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In order to meet the rising demand of transportation services, new age technology solutions and adoption of such solutions by the population has given birth to innovative mobility models, such as ride sharing and on-demand cars in developing countries. For instance, from 2016 – 2018 in Myanmar, four ride sharing companies are catering to the rising transportation demands, two of them are domestic, and while other two are international.

For riders, the first advantage of ride sharing and on-demand cars is the omnipresence of car rides at their preferred location and time, leading to better service levels. The second advantage is with the drivers, who get the flexibility to work as per their convenience and chose the customers they wish to offer the service. The technology ensures that the number of trips is maximum with minimum idle waiting time, subsequently, leading to optimized benefits. Hence, these factors have driven the global ride sharing market.

Further, ride sharing has reduced environment pollution such as air, land and noise. The carpooling services launched by ride sharing companies are helping to curb the emission of CO2 into the air. For instance, in 2014, Uber launched its first Uberpool service in San Francisco where people started sharing their ride who are travelling in same direction in order to save cost. This service also helped in the reduction of 120 metric tons of carbon dioxide emission in San Francisco alone only in one month time.

The benefits of ride sharing technology are showing impacts in the healthcare industry also. This includes delivery of real-time data, immediate feedback of patient, notifications in case of driver delays and the reduction of driver’s waiting time during appointments. Thus, resulting in an overall improvement of patient care with greater safety, efficiency, and reliability.

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U.S. dominated the overall North America ride sharing market in 2017. However, Canada is witnessing demand for ride sharing services with the increasing population due to migration of people from abroad in search of education and jobs. In 2015, 20 ride-sharing services were operational in Canada servicing over 336,000 members and with a fleet exceeding 5,200 vehicles. Between January 2014 and January 2015, car-sharing memberships grew by 50% in Canada.

At present, the comparative landscape of the global ridesharing market is consolidated. However, over the period of time the market is expected to become highly fragmented which would include more global and regional companies. As there are no major barriers for new entrants many new players are entering into the market.

Key segments of the global ride sharing market

Type Overview, 2015-2025 (USD million)
•    On-demand
•    Commute
•    Long Distance

Regional Overview, 2015-2025 (USD million)
•    North America
o    US
o    Canada
•    Europe
o    Germany
o    United Kingdom
o    France
•    Asia Pacific
o    China
o    India
o    Japan
•    Rest of the World

Some Points from TOC:

1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Ride Sharing Overview, By Types
5. Ride Sharing market Overview, By Region
6. Company ProfilesUber Technology Inc.

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About Us:

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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