Dublin, Dec. 01, 2021 (GLOBE NEWSWIRE) -- The "Ride Sharing Market by Booking Type, Commute Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Ride sharing, also known as carpooling simply means sharing a ride with another commuter, travelling on same route. It indicates the sharing of car, driver, and route by multiple passengers. It also signifies the availability of space in the car and its usage by multiple commuters, also it will make stops to pick up other riders. It starts with a pick-up by the driver, continues with taking through the route that offers maximum convenience & order and ends with the dropping to the destination.
The ride sharing service provides several advantages such as no parking trouble, affordable pick-up and drop facility, easy booking options, and low carbon footprints. Customers can book a ride via smartphone app, website, text message request, phone calls, or by going directly service provider's physical location.
The factors such as rise in demand for carpool & bike pool services, increase in demand from online booking channels, and surge in cost of vehicle ownership are anticipated to drive the market growth. However, improvement of public transportation and resistance from the local transport services coupled with varying government regulations in different countries hinder the market growth. Further, the development of robo-taxies and the emergence of eco-friendly electric cab services are some of the factors expected to offer lucrative opportunities for market growth during the forecast period.
The ride sharing market is segmented on the basis of booking type, commute type, vehicle type, and region. By booking type, it is bifurcated into online booking and offline booking. By commute type, it is divided into intracity and intercity. By vehicle type, it is categorized into cars, motorcycles, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the ride sharing market are:
ANI Technologies Pvt. Ltd. (OLA)
Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing)
Cabify Espana S.L.U.
GrabTaxi Holdings Pte. Ltd.
Uber Technologies Inc.
COVID-19 SCENARIO ANALYSIS
In most of the countries across the world, shops and businesses have shuttered and offices have emptied out, and this has resulted in a decrease in demand for taxi or cab services, which in turn, for ride sharing services. Social distancing norms and regulations implemented by government and healthcare authorities encourage citizens to maintain a two-meter distance from other persons for safety. This has restricted the usage of ride sharing services for daily commute. Users prefer to travel in their own vehicles due to health and safety concerns, hampering the market size in 2020. However, major ride-sharing companies such as Ola, Uber, Grab, Didi, Lyft, and others are already feeling the pressure from the coronavirus pandemic as travel restrictions and lockdowns are increasing across the world. For instance, Lyft experienced a decrease in revenue by 36% year-on-year. In addition, according to the Canaccord Genuity pricing tracker, ride-share fares dropped by 6% month-over-month in 2020.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global ride sharing market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall ride sharing market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global ride sharing market with a detailed impact analysis.
The current ride sharing market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Booking Type
By Commute Type
By Vehicle Type
Rest of Europe
Rest of Asia-Pacific
Market Definition and Scope
Top Impacting Factors
Top Investment Pockets
Top Winning Strategies
Porter's Five Forces Analysis
Market Share Analysis (2020)
Rise in Demand for Carpool and Bike Pool Services
Increase in Demand from Online Booking Channels
Increase in Cost of Vehicle Ownership
Improvement of Public Transportation
Resistance from the Local Transport Services Coupled With Varying Government Regulations in Different Countries
Development of Robo-Taxies
Emergence of Eco-Friendly Electric Cab Services
Impact of Covid-19 on Market
Evolution of Outbreaks
Micro Economic Impact Analysis
Macro-Economic Impact Analysis
Impact on Ride Sharing Industry Analysis
For more information about this report visit https://www.researchandmarkets.com/r/kh277s
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