DUBLIN--(BUSINESS WIRE)--The "On-Demand Transportation Market Size, Share & Trends Analysis Report By Service Type (E-Hailing, Car Rental, Car Sharing), By Vehicle Type (Four Wheeler, Micro Mobility), And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global on-demand transportation market size is expected to reach USD 304.97 billion by 2025 and is anticipated to expand at a CAGR of 19.8% during the forecast period.
Rising penetration of smartphones and connected vehicles is increasing the adoption of on-demand transportation services such as e-hailing, car sharing, car rental, and station-based mobility. These services enable users to pre-book, modify, or cancel their taxi reservations via mobile applications such as Uber and Gett.
Advancements in IT infrastructure and growing usage of car sharing services by millennials are anticipated to drive the adoption of on-demand transportation services in Europe. Asia Pacific is estimated to witness considerable growth over the forecast period, owing to increased traffic and fuel prices. Government initiatives, such as the Smart Mobility 2030 plan of the Land Transport Authority of Singapore, are also likely to bolster the market growth.
Among different on-demand transportation services, car rental was anticipated to be the largest segment in terms of market share in 2017. However, demand for other services such as e-hailing and car sharing are anticipated to witness substantial rise over the forecast period. Market participants are engaging in different business expansion strategies such as product launches and partnerships to gain market share. For instance in September 2018, BMW and Daimler announced their collaboration for starting combined car sharing service in Germany.
The trend of micro mobility sharing such as two-wheeler, e-bike, and e-scooter sharing is growing rapidly in developing countries such as China and India. Several new companies are entering the on-demand transportation market by providing smartphone-based car booking services. However, global players such as BMW Group, Daimler AG, Uber Technologies, and OLA dominate the market.
The ban on DIDI Chuxing by the Chinese government in September 2018 for alleged passenger murders has increased concerns among customers over ride sharing. Similar cases have been filed on Uber drivers for misbehaving and mistreating users in the past. Moreover, issues regarding poor connectivity and high costs of developing infrastructure may further hamper growth of the market. Therefore, the service providers are focusing on developing car-sharing applications, which do not require internet connectivity for accessing them.
Further key findings from the study suggest:
- E-hailing services is poised to witness the fastest CAGR of 20.4% over the forecast period, as these services provide flexibility to users by allowing them to reserve taxis through an application
- Micro mobility segment is projected to register the highest CAGR of 24.7% over the forecast period
- Asia Pacific is anticipated to be the most promising region during the forecast period due to increased traffic and vehicle costs in countries such as Japan and China
- Some of the prominent participants in the on-demand transportation market are International Business Machines Corporation (IBM); BMW Group; Daimler Group; Ford Motor Company; General Motor Company; Gett, Inc.; and Robert Bosch GmbH.
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Market Definitions
3.1 Market Segmentation
Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global On-Demand Transportation Market
4.2.1 Service Segment Trends
4.2.2 Vehicle Type Segment Trends
4.2.3 Regional Segment Trends
4.3 Market Variable Analysis
4.3.1 Market Driver Analysis
184.108.40.206 Growing trend of market consolidation.
220.127.116.11 Rising Smartphone penetration
4.3.2 Market Restraints Analysis
18.104.22.168 Passenger safety concerns
22.214.171.124 Dependence on Internet Connectivity
4.4 Business Environment Analysis Tool
4.4.1 On-demand transportation Market: PEST Analysis
4.4.2 On-Demand Transportations Market: Porters Analysis
4.5 Penetration & Growth Prospects Mapping
4.6 Value Chain Analysis
Chapter 5 On-Demand Transportations Market: Service Type Segment
5.2 Car Sharing
5.3 Car Rental
5.4 Station-Based Mobility
Chapter 6 On-Demand Transportations Market: Vehicle Type Segment
6.1 Four Wheeler
6.2 Micro Mobility
Chapter 7 On-Demand Transportations Market: Regional Outlook 2015-2025
Chapter 8 Company Profiles
- IBM Corporation
- BMW Group
- Daimler AG
- Ford Motor Company
- General Motors Company
- Gett Inc.
- Robert Bosch GmbH
- Avis Budget Group, Inc.
- Toyota Motor Corporation
- Uber Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/research/mmhx9v/global_ondemand?w=4