The Vehicle Subscription Global Market Report 2023, provides comprehensive information on the vehicle subscription market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Vehicle Subscription Global Market Report 2023, the global vehicle subscription market size is expected to grow from $4.27 billion in 2022 to $5.39 billion in 2023 at a compound annual growth rate (CAGR) of 26.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vehicle subscription market size is expected to reach $13.04 billion in 2027 at a CAGR of 24.7%.
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Technological advancements have emerged as a key trend gaining popularity in the vehicle subscription market. Major companies operating in the vehicle subscription market are focusing on introducing new technologies to strengthen their position in the market. For instance, in June 2022, Santander Consumer Finance, a Spain-based financial services company, launched Ulity, a new technology platform for vehicle subscription-based solutions for companies. Its brand-new white-label technology platform is specialized in the creation of vehicle subscription-based solutions for the mobility service industry. Santander Consumer Finance has created its own SaaS technology by leveraging its in-depth industry knowledge and experience, allowing other business groups and companies to use it without incurring the costs of developing their own solution to expand their customer base, streamline their entry into vehicle subscription services, and enter new markets.
The vehicle subscription market is segmented:
1) By Vehicle Type: IC Powered Vehicle, Electric Vehicle
2) By Subscription: Single Brand, Multi Brand
3) By Service Provider: OEM or Captives, Mobility Providers, Technology Companies
4) By End Use: Business, Private
North America was the largest region in the vehicle subscription market in 2022.
The table of contents in TBRC’s vehicle subscription market report includes:
1. Executive Summary
2. Vehicle Subscription Market Characteristics
3. Vehicle Subscription Market Trends And Strategies
4. Vehicle Subscription Market – Macro Economic Scenario
5. Vehicle Subscription Market Size And Growth
…
27. Vehicle Subscription Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vehicle Subscription Market
29. Vehicle Subscription Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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