A “ride sharing” service is one that delivers clients and passengers from one area to another. Customers use this service to arrange excursions and hire transport as needed, which is commonly done over the Internet. The ride-sharing system connects drivers and riders by letting them to schedule a trip via an online site or a smartphone app. The segment analysis of the ride sharing market research is studied and assessed by commute, kind, and region.
Ride Sharing Market Report Scope:
The Ride Sharing market has been analyzed at regional and country levels. The segment-wise and region-wise analysis of the Ride Sharing market dynamics including drivers, restraints, challenges and opportunities has been provided in the report. This detailed analysis of the market makes the report an investor’s guide.
A bottom-up approach has been used to estimate the Ride Sharing market size. Key Players in the Ride Sharing market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and Ride Sharing industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. SWOT analysis was used to provide strengths, weaknesses, opportunities and threats of the Ride Sharing key players in the industry.
Ride Sharing Market Report Overview:
The new market intelligence report published by research firm, Stellar Market Research, indicates the lucrative growth for Ride Sharing Market suppliers in the forecast period through 2029. The Ride Sharing Market report includes the growth drivers, major restraints, upcoming challenges and prevailing opportunities in the market.
Ride Sharing Market Size was valued at US$ 216 Bn. in 2020. Ride Sharing Market size is estimated to grow at a CAGR of 10.87 % over the forecast period.
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Ride Sharing Market Regional Analysis:
Government initiatives in the sector and regulations drive the Ride Sharing Market growth in the region. The Ride Sharing market report includes a geographic condition of the market, market size and share as well as in-depth research into the business network structure, opportunities, and news updates. The report includes all the regions: North America, Europe, Asia Pacific, South America and Middle East and Africa.
Ride Sharing Market Segmentation:
In 2020, the commute, intercity sector dominated the ride sharing market with a 55.23% share. Intercity travel is travelling between two cities. Commuting refers to a one-way trip from one city to another. Intercity travel is widely used by daily commuters who travel from one city to another for work purposes. Congestion on public transit and weariness while driving a private automobile combine to create a compelling reason to opt for urban mobility, which is more enjoyable and handy while costing less.
Intracity is predicted to develop at a CAGR of 5.1% over the forecast period. The city’s rising population, which causes traffic and a lack of parking spaces, is driving the demand for ride sharing.
E-hailing dominated the industry by type in 2020, accounting for 60% of the market. Passengers are transported by e-hailing service firms who contract or hire a personal driver on a job basis. In e-hailing ride services, rides are arranged in advance and paid for using the transportation network company’s smartphone app. These factors are driving segment expansion in the ride-sharing market.
Station-based is predicted to expand at a CAGR of 4.33% over the forecast period. Rising online wait times, concerns about driver cancellations, and other issues are projected to drive demand for this market segment. Market growth is being stifled due to pushback from taxi stands.
Ride Sharing Market Key Players:
Via Transportation Inc.
Scoop Technologies Inc.
Key Questions answered in the Ride Sharing Market Report are:
- What is Ride Sharing Market?
- What is the forecast period of the Ride Sharing Market?
- What are the Ride Sharing market segments?
- Which segment held the largest Ride Sharing market share?
- What will be the CAGR of the Ride Sharing market during the forecast period?
- What is the competitive scenario of the Ride Sharing market?
- What are the opportunities for the Ride Sharing Market?
- What are the factors restraining the Ride Sharing market growth?
- Which region held the largest market share in the Ride Sharing Market?
- Market Share, Size, and Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis of segments and sub-segments
- Competitive Landscape- Leading key players and other prominent key players.
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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