Ride Sharing Market size to grow at a CAGR of 17.45% from 2022 to 2027, Increasing traffic congestion to drive market growth – Technavio

NEW YORK, June 14, 2023 /PRNewswire/ — The ride-sharing market is set to grow by USD 86.33 billion from 2022 to 2027. The market is estimated to be progressing at a CAGR of 17.45% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increasing traffic congestion is driving the market growth. Traffic congestion is a result of factors such as rapid population growth, increasing GDP per capita, a surge in the number of working women, and exponential growth in urbanization. Other factors include the rise in the number of affordable entry-level cars and motor or electric bikes and the availability of low-interest loans by financial institutions. Ride-sharing is considered a solution for traffic congestion, as it is a hassle-free, eco-friendly, and cost-effective mode of transport. These factors will fuel the market growth during the forecast period.  –Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The ride-sharing market covers the following areas:

The report on the ride-sharing market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

Ride-Sharing Market 2023-2027 – Market Dynamics

Leading trends 

• The rising adoption of dockless bike-sharing services is a key trend in the market.
• Dockless bikes can be picked up and dropped off anywhere without the need for parking or dock stations.
• They come with GPS sensors, which reduces the chances of them being stolen or damaged.
• Vendors are focusing on introducing a large number of dockless sharing bikes, as building a dock or parking station incurs huge costs.
• Thus, the rising adoption of dockless bike-sharing services is expected to support global market growth during the forecast period.

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Major challenges

• The risk of theft and the need for frequent maintenance are challenging market growth.
• The widespread theft of bicycles is resulting in their scarcity.
• Moreover, vendors need to send bicycles for maintenance frequently due to improper riding practices, frequent falls, and other reasons.
• These factors are expected to hamper the global market growth during the forecast period.

Ride Sharing Market 2023-2027: Market Segmentation

This ride-sharing market research report extensively covers market segmentation by end-user (individual and business), type (car and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

• The market share growth by the individual segment will be significant during the forecast period. In ride-sharing, privately-owned car drivers partner with a ride-sharing company to provide rides to commuters. These services are economical, which makes the ride cheaper for riders and more efficient for the driver. These factors will fuel segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• ANI Technologies Pvt. Ltd.
• Avis Budget Group Inc
• Bolt Technology OU
• Cabify Espana SL
• Comuto SA
• Curb Mobility LLC
• DENSO Corp.
• Enterprise Holdings Inc.
• Grab Holdings Ltd.
• GT Gettaxi UK Ltd.
• Hertz Global Holdings Inc.
• Ibibo Group Pvt. Ltd.
• iDisha Info Labs Pvt. Ltd.
• Lyft Inc
• My Taxi Indi
• PT GoTo Gojek Tokopedia Tbk
• Share Now GmbH
• Uber Technologies Inc
• Via Transportation Inc.
• TomTom International BV

Vendor Offerings

• Avis Budget Group Inc – The company offers ride-sharing services through its subsidiary Zipcar.
• Bolt Technology OU – The company offers ride-sharing services such as rentals and drives.
• Cabify Espana SL – The company offers ride-sharing services for riders and drivers.

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Related Reports:
The ride hailing services market size is estimated to grow at a CAGR of 12.86% between 2022 and 2027 and the size of the market is forecast to increase by USD 58,239.86 million. This ride-hailing services market report extensively covers market segmentation by application (car sharing and e-hailing), mode of booking (online and offline), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The rising use of online ride hailing services is the key factor driving the global ride-hailing services market growth.

The ridesharing market in France is estimated to grow at a CAGR of 12.82% between 2022 and 2027. The size of the market is forecast to increase by USD 2,473.33 million. This report extensively covers market segmentation by service type (E-hailing and station-based), vehicle type (car and others), and connectivity (short distance and long distance). The increase in vehicle ownership cost is notably driving the market growth.

Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global ride sharing market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global ride sharing market 2017 – 2021 ($ billion)

• 4.2 End-user Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Individual – Market size and forecast 2022-2027
• Exhibit 34: Chart on Individual – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Individual – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Individual – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Individual – Year-over-year growth 2022-2027 (%)

• 6.4 Business – Market size and forecast 2022-2027
• Exhibit 38: Chart on Business – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Business – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Business – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Business – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 43: Chart on Type – Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Car – Market size and forecast 2022-2027
• Exhibit 47: Chart on Car – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Car – Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Car – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Car – Year-over-year growth 2022-2027 (%)

• 7.4 Others – Market size and forecast 2022-2027
• Exhibit 51: Chart on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 55: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 61: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 63: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 69: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 81: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027
• Exhibit 93: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 ANI Technologies Pvt. Ltd. 
• Exhibit 108: ANI Technologies Pvt. Ltd. – Overview
• Exhibit 109: ANI Technologies Pvt. Ltd. – Product / Service
• Exhibit 110: ANI Technologies Pvt. Ltd. – Key offerings

• 12.4 Avis Budget Group Inc 
• Exhibit 111: Avis Budget Group Inc – Overview
• Exhibit 112: Avis Budget Group Inc – Business segments
• Exhibit 113: Avis Budget Group Inc – Key offerings
• Exhibit 114: Avis Budget Group Inc – Segment focus

• 12.5 Bolt Technology OU 
• Exhibit 115: Bolt Technology OU – Overview
• Exhibit 116: Bolt Technology OU – Product / Service
• Exhibit 117: Bolt Technology OU – Key offerings

• 12.6 Cabify Espana SL 
• Exhibit 118: Cabify Espana SL – Overview
• Exhibit 119: Cabify Espana SL – Product / Service
• Exhibit 120: Cabify Espana SL – Key offerings

• 12.7 Comuto SA 
• Exhibit 121: Comuto SA – Overview
• Exhibit 122: Comuto SA – Product / Service
• Exhibit 123: Comuto SA – Key offerings

• 12.8 Curb Mobility LLC 
• Exhibit 124: Curb Mobility LLC – Overview
• Exhibit 125: Curb Mobility LLC – Product / Service
• Exhibit 126: Curb Mobility LLC – Key offerings

• 12.9 DENSO Corp. 
• Exhibit 127: DENSO Corp. – Overview
• Exhibit 128: DENSO Corp. – Business segments
• Exhibit 129: DENSO Corp. – Key news
• Exhibit 130: DENSO Corp. – Key offerings
• Exhibit 131: DENSO Corp. – Segment focus

• 12.10 Enterprise Holdings Inc. 
• Exhibit 132: Enterprise Holdings Inc. – Overview
• Exhibit 133: Enterprise Holdings Inc. – Product / Service
• Exhibit 134: Enterprise Holdings Inc. – Key news
• Exhibit 135: Enterprise Holdings Inc. – Key offerings

• 12.11 Grab Holdings Ltd. 
• Exhibit 136: Grab Holdings Ltd. – Overview
• Exhibit 137: Grab Holdings Ltd. – Product / Service
• Exhibit 138: Grab Holdings Ltd. – Key offerings

• 12.12 GT Gettaxi UK Ltd. 
• Exhibit 139: GT Gettaxi UK Ltd. – Overview
• Exhibit 140: GT Gettaxi UK Ltd. – Product / Service
• Exhibit 141: GT Gettaxi UK Ltd. – Key offerings

• 12.13 Hertz Global Holdings Inc. 
• Exhibit 142: Hertz Global Holdings Inc. – Overview
• Exhibit 143: Hertz Global Holdings Inc. – Business segments
• Exhibit 144: Hertz Global Holdings Inc. – Key offerings
• Exhibit 145: Hertz Global Holdings Inc. – Segment focus

• 12.14 iDisha Info Labs Pvt. Ltd. 
• Exhibit 146: iDisha Info Labs Pvt. Ltd. – Overview
• Exhibit 147: iDisha Info Labs Pvt. Ltd. – Product / Service
• Exhibit 148: iDisha Info Labs Pvt. Ltd. – Key offerings

• 12.15 Lyft Inc 
• Exhibit 149: Lyft Inc – Overview
• Exhibit 150: Lyft Inc – Product / Service
• Exhibit 151: Lyft Inc – Key offerings

• 12.16 Share Now GmbH 
• Exhibit 152: Share Now GmbH – Overview
• Exhibit 153: Share Now GmbH – Product / Service
• Exhibit 154: Share Now GmbH – Key offerings

• 12.17 Uber Technologies Inc 
• Exhibit 155: Uber Technologies Inc – Overview
• Exhibit 156: Uber Technologies Inc – Business segments
• Exhibit 157: Uber Technologies Inc – Key offerings
• Exhibit 158: Uber Technologies Inc – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 159: Inclusions checklist
• Exhibit 160: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 161: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 162: Research methodology
• Exhibit 163: Validation techniques employed for market sizing
• Exhibit 164: Information sources

• 13.5 List of abbreviations 
• Exhibit 165: List of abbreviations

• adoption of multichannel marketing strategies: The key vendors in the market are striving to expand their target customer base by investing in marketing and promotional activities. Large specialized consumer service providers aim at strengthening their presence by investing in brand visibility activities, celebrity endorsements, and marketing through channels such as television, radio, the Internet, print media, posters, and direct mails. The competitors also use a targeted advertising approach and launch advertisements that are designed and crafted to promote the services and communicate the brand positioning. 

• attrition and training: Professional, skilled, and unskilled workforce is required to provide specialized consumer services. However, there is a shortage of skilled and professional workforce to meet the demand. For instance, in security services, a skilled workforce is required when new monitoring devices and security gadgets are developed and adopted. Several vendors provide rigorous training to their employees about the handling of critical tasks while serving specialized consumer services. However, the retention of such a workforce is a major challenge. 

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