Ride Sharing Market by Service (Navigation, Information, Payment), Car Sharing (P2P, Corporate), Vehicle Type, Micro-Mobility (Bicycle, Scooter), Type (E-hailing, Station-based, Car Sharing & Rental), and Region: Global Opportunity Analysis and Industry Forecast, 2018-2025

Global Ride Sharing Market Scenario

The ride sharing market is predicted to garner $218 Billion by 2025 from $61.3 Billion in 2018 at a CAGR of 19.87% during the forecast period 2018-2025. The major drivers of this market include the growing need for personal mobility in wake of rising urbanization and fall in car ownership. Moreover, growing Internet and smartphone penetration and stringent CO2 reduction targets are leading to the high growth of the ride sharing market.

The growing and inevitable growth of personal mobility in the wake of rising urbanization and fall in car ownership is increasing the demand for ride sharing. On the other hand, the factors restraining the market include resistance from traditional transport services and complex transport policies of different countries.

Station-based mobility is the fastest growing segment in the sector

Governments encourage Station-based mobility across the world, and out-and-out tracks are laid in various countries for the station to station mobility. Car sharing is the second fastest growing segment. The growth of car sharing is attributed to its fruitful factors such as getting the comfort of a private vehicle without the costs and responsibilities of car ownership. Car sharing companies are entering into different markets to cater the ride sharing market. For instance, BlaBlaCar has expanded to Russia and Ukraine, the two biggest countries in Europe. Some of the largest players in this market are car2go, Maven, BlaBlaCar, and Getaround.

Navigation service becomes the largest data service for the market

Navigation service has the largest market size in data service for the global ride sharing market. Navigation feature guides the drivers and the passengers finding the right location and perfect route. Also, mapping and traffic data provides a better user experience. The increasing number of ride sharing service users has influenced the demand for ride sharing data services.

Market Dynamics

Growth Drivers

• Increasing smartphone and internet penetration
• Increase in cost of vehicle ownership
• Reduction in car ownership among millennials
• Rising fuel prices
• Stringent CO2 reduction targets

Restraints

• Resistance from traditional transport services
• Varied transport policies of different countries

Opportunities

• Increasing user base among millennials and potential generation
• Development of autonomous vehicles for ride hailing

Public-private partnerships

• Micro mobility
• Challenges
• Profitability and sustainability model
• First mile last mile

Key Benefits for Stakeholders

• This study presents the analytical depiction of the global ride sharing market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the market.
• Porter’s five forces analysis illustrates the strength of the buyers and suppliers.

Major industry players

The ride sharing market is dominated by global and regional players. Some of the key players in the sector include Uber (US), DiDi (China), Lyft (US), Gett (Israel), Ola (India), Grab (Singapore), Lime (US), BlaBlaCar (France), and Herts (US).

Major Developments in the industry

• In September 2018, Uber revved up its Canadian operations with a new engineering hub in Toronto and the expansion of its self-driving vehicle centre in the city. The company said the engineering hub—Uber’s eighth outside the US—will be complete by early 2019 and will form the “building blocks” for stronger and faster global deployment of new offerings such as Jump bikes and e-scooter rentals.
• In October 2018, Microsoft and Grab announced a strategic partnership that will transform the delivery of digital services and mobility in the region by leveraging Microsoft’s world-class expertise in machine learning and other Artificial Intelligence (AI) capabilities. As a first step in the broad collaboration between the two companies, Grab will adopt Microsoft Azure as its preferred cloud platform and Microsoft will make a strategic investment in Grab.
• In June 2018, BlaBlaCar has expanded to Russia and Ukraine, the two biggest countries in Europe. These countries logically fit into our expansion into Eastern Europe. The BlaBlaCar community has made a large number of cross-border trips to and from Ukraine: hundreds of drivers offer a ride from Poland to Ukraine every month. Moreover, cost of transportation is very high in these 2 countries; BlaBlaCar is happy to offer a cheap and social alternative for national and cross-border trips.

Key Market Segments

The research report categorizes the market based on service type, car sharing type, vehicle type, micro mobility, data service, distance, autonomous, vehicle connectivity, and region.

By Service type

• Car sharing
• E-hailing
• Station-based mobility
• Car rental

By Car Sharing type

• P2P car sharing
• Corporate car sharing

By Data service

• Navigation
• Payment service
• Information service
• Others

By Micro-mobility

• Bike/bicycle
• E-scooter
• Others

By Vehicle type

• Electric vehicle
• CNG/LPG vehicle
• ICE vehicle
• Micro mobility

By Distance

• Long distance
• Short distance

By region

• Asia Oceania
• Europe
• North America
• Rest of the World

The market is customized into different segments by the report:

By Vehicle type (Country Level)

• Electric vehicle mobility
• CNG/LPG vehicle
• Ice vehicle mobility
• Micro-mobility

By City

• New York, US
• Los Angeles, US
• London, UK
• Berlin, Germany
• Madrid, Spain
• Dubai, UAE
• Toronto, Canada