Global Ride Sharing Market Size & Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ride Sharing Market


The global Ride Sharing market size is projected to reach US$ 12.81 billion by 2026, from US$ 8.3 billion in 2020, at a CAGR of 7.5% during 2021-2026. The need to reduce urban traffic congestion and demand for cost effective mode of commute with better comfort are the key factors driving the growth.

Increasing penetration of smart devices, such as smartphones, tablets, and others is projected to drive the market. In the ride sharing business model, smart personal devices hold the most significance as the platforms on which the apps are installed.

Penetration of personal smart devices has increased in many developing countries in the last few years. The adoption of smart phones in countries such as India and China has witness tremendous growth over the last few years and has helped fuel growth of ride sharing and ride hailing market.

Increasing domination of Android supported devices over iOS supporting devices has also helped these platforms to reach new customer base, as these platforms have automatic payment gateway services, which iOS supported devices do not support.

Many ride sharing platforms endorsing such direct online payments are available only on Android devices, hence the growing reach of Android devices to new customer base has worked effectively for ride sharing platforms.

Market Segmentation, Outlook & Viewpoint: Global Ride Sharing Market

Business Model Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
P
  
B2C
  
B2B

Commute Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Long Distance
  
Corporate
  
Short Distance

Key Players, Recent Developments & Regional Insights: Global Ride Sharing Market

The short distance commute segment is expected to expand at a CAGR of 8.9% from 2018 to 2025. This type of commute provides daily commuters with an excellent alternative to private vehicles.

Short distance and corporate commute are projected to hold majority of market share. However, the short distance type is anticipated to lead during the forecast period, attributed to the increase in the trend of ride hailing platform providers venturing in these services through their existing platforms. This type of service allows commuters to choose between ride hailing and ride sharing. This convenience is anticipated to contribute largely to the segment growth over the forecast period.

The long distance commute segment is expected to have good growth potential. This type of commute is in nascent stage, but is gaining acceptance amid the extended adoption of various ride sharing platforms by end users. The adoption of long distance commute type is expected to register significant growth as more and more users connect through various popular platforms.

Regional Insights

North America led with U.S. holding around 94.0% of the regional market share in 2017. However Asia is anticipated to surpass North America during the forecast period. Uber and Lyft are the major platforms operating in the region. While Uber holds the majority market share, Lyft has successfully gained significant regional share.
Asian is a potential market for ride sharing platforms with a large number of rapidly developing cities and towns. The region is home to the two largest countries in terms of population - China and India. China is already dominating the ride hailing market and is anticipated to witness rapid growth in ride sharing over the forecast period. India has witnessed good growth in the last few years but the industry has not yet exploited the countrys potential to the fullest.

Europe is also not yet fully operational with countries such as Germany still displaying reluctance to adapt the concept. Developed countries such as U.K. and France have enthusiastically adopted four-wheeler and bike sharing platforms over the last this decade.

South East Asia is another prominent market with the ASEAN nations being home to many fast developing economies such as Indonesia and Thailand. Australia has shown good growth in the last few years and is anticipated to continue over the forecast period.

Latin America and Mexico are yet in nascent stage. The flourishing Mexican automotive industry is anticipated to benefit from shared commuting and ride hailing platforms during the forecast period.

Ride Sharing Market Share Insights

Key players include Uber, Didi Chuxing, and GRAB. This is mainly on account of diversified customer base and enhanced regional reach through various acquisitions and mergers along with other business agreements. Other prominent platform providers include OLA, Gett, and Lyft among others.

Key Insights Covered: Global Ride Sharing Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ride Sharing industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Ride Sharing industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ride Sharing industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ride Sharing industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ride Sharing industry.

Research Methodology: Global Ride Sharing Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other