What is the global market size of Ride Sharing Market?

Global Ride Sharing Market size was valued at USD 85.8 billion in 2021 and is poised to grow from USD 100.04 billion in 2022 to USD 341.8 billion by 2030, growing at a CAGR of 16.6% in the forecast period (2023-2030).

Global Ride Sharing Market Size, Share, Growth Analysis, By Type(Car Sharing, E-Hailing), By Vehicle Type(ICE Vehicle, Electric Vehicle), By Business Model(B2C, P2P), By Membership Type(Fixed Ridesharing, Corporate Ridesharing), By Service(App-based, Web-based) - Industry Forecast 2024-2031

Report ID: SQMIG45E2200 | Region: Global | Published Date: February, 2024
Pages: 261 | Tables: 145 | Figures: 78

Global Ride Sharing Market Dynamics

Ride Sharing Market Drivers

Increase in Micro mobility to Accelerate Growth

The demand for micro-mobility, that encompasses light vehicles such mopeds, bikes, scooters, and longboards, is increasing and will have a significant impact on market growth. Due to the demand for hassle-free ride options, commuters' awareness level of shared micro-mobility will generate market revenue at the same time.

Cost-effectiveness to Drive Market Growth

Demand for ride-sharing services increased, which is a key driving factor, as a result of rising fuel and vehicle prices. By splitting the cost of the travel among the passengers, services like carpooling have the advantage of becoming cost-effective.

Ride Sharing Market Restraints

Traditional Transport Service Opponents Impacting Market Growth.

The advancement of heavy machinery as a significant source of ozone emissions is the cause of poor air quality. In addition to nitrogen oxides, volatile organic compounds, and carbon monoxide, the emissions from this equipment have a negative effect on the environment and cause an environmental imbalance between urban and rural areas. In addition, mining machinery operating at mining sites is a significant source of ozone emissions.

Global Ride Sharing Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Ride Sharing Market size was valued at USD 85.8 billion in 2019 and is poised to grow from USD 100.04 billion in 2023 to USD 341.8 billion by 2031, growing at a CAGR of 16.6% in the forecast period (2024-2031).

The competitive landscape of the ride-sharing market provides information by competitors. Included information includes an overview of the business, financials, revenue, market potential, investments in R&D, new market initiatives, regional presence, corporate strengths and weaknesses, product launches, product breadth and depth, and application domination. The data presented above only relates to the companies' market focus on ride sharing. 'Uber Technologies, Inc.', 'Lyft, Inc.', 'Didi Chuxing Technology Co., Ltd.', 'Grab Holdings Inc.', 'Ola Cabs', 'BlaBlaCar', 'Careem', 'Gett', 'Go-Jek', 'Bolt (formerly Taxify)', 'Cabify', 'DiDi Express', 'Easy Taxi', 'Free Now', 'Jugnoo', 'MyTaxi', 'Shebah', 'Sidecar', 'Via Transportation Inc.', 'Yandex Taxi'

The demand for micro-mobility, that encompasses light vehicles such mopeds, bikes, scooters, and longboards, is increasing and will have a significant impact on market growth. Due to the demand for hassle-free ride options, commuters' awareness level of shared micro-mobility will generate market revenue at the same time.

A growing trend in the market is the increasing utilization dock less bike-sharing services. There has been an increase in the number of docks less bikes in recent years. Without the need for parking or charging points, dock less bikes can be picked up and returned anywhere. These bikes are much less likely to be stolen or damaged because they have GPS sensors. The location of a bike can be determined easily by big ups to these sensors, that are simple to track. However, since constructing a dock or parking station is so very costly, vendors are concentrating on introducing more docks and fewer sharing bikes. The goal of this is to reduce the expense of docking and parking facilities while simultaneously improving user experience by making more bikes available in a given area. Therefore, throughout the forecast period, the growing utilization dock less bike-sharing services is expected to be a key market driver.

Due to the large concentration of market vendors in the US, North America directs a majority of the global ride-sharing market revenue share. In addition, North America dominates the world both in technology innovation and invention, which helps explain the city's rapid growth in ride-sharing. Furthermore, the region is an industrial hub that supports the regional implementation of the corporate ride-sharing model.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Ride Sharing Market Size, Share, Growth Analysis, By Type(Car Sharing, E-Hailing), By Vehicle Type(ICE Vehicle, Electric Vehicle), By Business Model(B2C, P2P), By Membership Type(Fixed Ridesharing, Corporate Ridesharing), By Service(App-based, Web-based) - Industry Forecast 2024-2031

Global Ride Sharing Market Dynamics

Global Ride Sharing Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Ride Sharing Market?

Who are the key vendors in the Global Ride Sharing Market?

What is the key driver of Global Ride Sharing Market?

What is the key market trend for Global Ride Sharing Market?

Which region accounted for the largest share in Global Ride Sharing Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300