Product ID: SQMIG45E2200
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 Insights
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).
Factors having significant impact on the growth of the market include the rapid increase in the cost of vehicle ownership, strict CO2 reduction targets, and growing market for electric vehicles in such services.
Another driver supporting the growth of the market, is the growing demand for inexpensive and alternative transportation alternatives. The rising sales of electric vehicles will also accelerate the expansion of the ride-sharing business during the stated prediction period. Also, driving the demand for the products will be the stricter auto emission rules and increased awareness of shared mobility. The demand for ride sharing is also being greatly boosted by the increased emphasis that various governments are placing on infrastructural development that enables ride sharing activities.
However, in the anticipated period, it will face market restrictions from traditional transportation companies and different national transport policies, whereas the profitability and sustainability of the model have the potential to impede fast growth. Additionally, in the above said forecast period, the market will also have numerous growth opportunities due to the expanding user base among millennials and potential members of generation Z, as well as presence of OEMs as mobility service providers and the high development of autonomous vehicles for ride sharing.
US Ride Sharing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Ride Sharing Market Report Snapshots
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