Ride Sharing Market

Ride Sharing Market by Type (E-hailing, Station-Based, Car Sharing & Rental), Car Sharing (P2P, Corporate), Service (Navigation, Payment, Information), Micro-Mobility (Bicycle, Scooter), Vehicle Type, and Region - Global Forecast to 2025

Report Code: AT 4965 Oct, 2019, by marketsandmarkets.com
Updated date -

The Ride Sharing Market is projected to grow at a CAGR of 19.87% from 2018 to 2025, to reach a market size of USD 218.0 billion by 2025 from USD 61.3 billion in 2018. The major drivers of this market include the growing need for personal mobility in the wake of rising urbanization and fall in car ownership. Also, growing Internet and smartphone penetration and stringent CO2 reduction targets are leading to the high growth of the market.

Ride Sharing Market

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Market Dynamics

Stringent CO2 Reduction Targets

According to the US EPA, the automotive industry contributes approximately 25% of the global greenhouse gas emissions. Automotive companies and governments are making collective efforts to reduce CO2 emission. In the Paris Agreement on Climate Change, countries have set ambitious targets for CO2 reduction by 2030. These targets have made it critical for industries and governments to reduce CO2 emission from the transportation sector.

The governments of several countries plan to achieve these targets by implementing strict emission regulations on conventionally fueled vehicles and encouraging people to use public transport and other smart mobility options such as ride sharing.

Ride sharing services reduce the total number of cars on the road and can thus help to reduce the overall CO2 emissions. The adoption of electric cars in ride sharing services can further help to reduce the impact on the environment. Developed as well as developing countries are likely to introduce policies that facilitate the growth of ride sharing services. The increasing accessibility of these services will eventually result in reduction of traffic and lesser polluting vehicles on roads.

Hence, the increasing focus on CO2 reduction will positively impact the ride sharing market and drive the growth of the market in the coming years.

Varying Transport Policies of Different Countries

In many countries, the operations of app-based mobility services are not regulated by a legal authority. Hence, their operation is not defined and regulated by the government. Taxi services are required to obtain separate licenses and registration. This makes it difficult for app-based taxi services to operate as many app-based companies do not own the vehicles.

Stringent regulations related to vehicle registration and licenses make it difficult for app-based taxi fleet that provide ride sharing services. This has negatively impacted the growth of ride sharing services in many countries and regions. Transport policies vary in different countries, which results in a non-standardized business model of ride sharing companies. For instance, in Dubai, riders cannot carpool with unknown people because of safety concerns. Hence, transport policies of a country can place many limitations in the type of services provided. This results in a situation where there is no proper sustainable model for ride sharing service providers. Additionally, increasing urbanization will accentuate the need for better mobility services. Cities will continue with transformative changes to improve the quality of life by investing in urban mobility solutions. This would result in better transportation systems, which would continuously bring changes in transport policies. As a result, ride sharing companies need to stay updated with the policy changes in different countries. It is very important for ride sharing companies to make contingency plans to deal with the governments of different countries and ensure smooth operations.

Development of Autonomous Vehicles for Ride Sharing

Autonomous vehicles drive themselves with little or no human intervention. These vehicles are designed to reduce accidents caused due to human errors and make commute time more productive as driver intervention is not required. Autonomous vehicles are considered the next big thing in mobility.

Currently, a few ride sharing service providers use semi-autonomous vehicles. The development of autonomous vehicles will drive the growth of ride sharing. Autonomous vehicles do not require a human driver and hence reduce costs for service providers. All the navigation and traffic information will be fed into the car via the internet and will be updated in real-time to avoid traffic and take the best route with the least distance and traffic. Thus, the inclusion of autonomous cars will make ride sharing services more effective and efficient. Also, ride sharing with autonomous vehicles will increase the profits of service providers as there will be no share of drivers in the rides. Currently, some ride sharing companies pay a huge amount to the drivers. For instance, Uber pays 80–85% of the ride cost to the drivers.

Autonomous vehicles are still in development stages. Many OEMs have working prototypes, which are being tested in different regions. Many companies are competing with each other to bring a fully autonomous vehicle to the market. These include Lyft, Ford, Uber, Honda, Toyota, and Tesla. Waymo, the autonomous vehicle division of Alphabet, Google’s parent company, has begun testing trip fares with its early riders as it moves closer to launching its commercial ride sharing service in Phoenix this year.

Experts predict that, by 2020, autonomous cars will be available commercially and, by 2025, will account for a significant volume of new vehicle sales. Therefore, the development of autonomous vehicles will drive the ride sharing market in the next 6­–7 years.

First Mile Last Mile

First mile last mile or station-based mobility refers to traveling very short distances to get from the origin or destination to or from the nearest transportation hub. Scooters, bikes, and other forms of personal transit offer consumers low prices, speeds in cities, and on-demand availability. Also, it is a convincing alternative to bus transfers, trains, and walking. From a ride sharing company and customer’s perspective, there are 2 major benefits—flexibility and data. A fleet of scooters can be arranged in hours by a small crew as it requires minimal maintenance and no infrastructure changes. As these vehicles are GPS-enabled, they can provide mobility data at scale in areas where it was previously not available.

Station-based mobility or first mile last mile provides stacks and racks of light electric vehicles or bicycles at closely spaced intervals throughout a city. A person who wants to use the service to go somewhere can simply walk to the nearest rack, swipe a card to pick up a vehicle, drive it to the rack nearest to the destination, and drop it off. This is an efficient and effective solution but will not solve the problem of the first mile and last mile as stations may not be in close vicinity to all locations. These stations are located on most frequently used routes and locations where traffic moves on a daily basis.

First mile and last mile services remain at a low density in most areas owing to some restrictions by the governments related to the increase in number of vehicles. Cities are concerned that, if they allow these services, the total number of these vehicles, bikes, and scooters will overpower infrastructure or be uncontrolled by startups. These restrictions come along with regulations pertaining to parking, safety, minimum age of riders, etc.

Hence, the people and governments still prefer ride sharing services such as Uber, Lyft, and Ola that pick the users from their desired location and drop them to the destination chosen by the user. As a result, ride sharing services will be preferred by customers over the first mile and last mile services. The first mile and last mile will struggle to grow at a fast rate owing to the requirement of infrastructure and strong competition from ride sharing services.

E-hailing is expected to be the largest contributor in ride sharing market, by service type, during the forecast period

E-hailing is the largest segment in this market in terms of value. E-hailing is the most widely used service. The growth of e-hailing is attributed to its user-friendliness and convenience to consumers. E-hailing is dominant all across the globe owing to more presence of the players and the ease of access to such services.

Payment service is estimated to be the fastest growing segment during the forecast period

The payment service market is growing at the fastest CAGR during the forecast period. service providers use payment gateway for online payment processing. International expansion of service providers and payments in foreign currency are likely to boost the growth of the payment service segment.

Electric vehicles have the potential to disrupt the ride sharing market in the future

The electric vehicle market is growing at the fastest CAGR during the forecast period. This growth is attributed to favorable government policies, better infrastructure, and growing awareness of CO2 emission. IC engine vehicles have the largest share in the market as these vehicles are most widely adopted and used globally.

Ride Sharing Market

Rest of the World region is expected to account for the fastest growth during the forecast period

The key countries considered in RoW include Brazil, South Africa, and UAE. These countries have a well-established urban infrastructure. The ride sharing market is growing in the RoW region as countries such as UAE and Brazil are increasing their investment in urban infrastructure. The Asia Oceania region leads the market in terms of market size. Growing population and increasing urbanization are driving the growth in market. Increasing urbanization leads to traffic congestion, and growing population would boost the demand for different mobility options in urban areas.

Key Players

The ride sharing market is dominated by global players and comprises several regional players. Some of the key players in the market are Uber (US), Lyft (US), DiDi (China), Grab (Singapore), Gett (Israel), Ola (India), BlaBlaCar (France), Lime (US), and Herts (US).

Uber and DiDi are anticipated to be the dominant players in the ride sharing market. Both the companies have adopted the strategies of expansion, new product development, partnership, and merger & acquisition to retain its leading position in the market. Strengthening the product portfolio and global presence by building customer relationships, they have left a mark not only in the current market but also in emerging markets.

Recent Developments

  • In September 2018, Uber revved up its Canadian operations with a new engineering hub in Toronto and the expansion of its self-driving vehicle center in the city. The company said the engineering hub—Uber’s eighth outside the US—will be complete by early 2019 and will form the “building blocks” for stronger and faster global deployment of new offerings such as jump bikes and e-scooter rentals. 
  • In October 2018, Microsoft and Grab announced a strategic partnership that will transform the delivery of digital services and mobility in the region by leveraging Microsoft’s world-class expertise in machine learning and other Artificial Intelligence (AI) capabilities. As a first step in the broad collaboration between the two companies, Grab will adopt Microsoft Azure as its preferred cloud platform, and Microsoft will make a strategic investment in Grab.
  • In June 2018, BlaBlaCar has expanded to Russia and Ukraine, the two biggest countries in Europe. These countries logically fit into our expansion into Eastern Europe. The BlaBlaCar community has made a large number of cross-border trips to and from Ukraine: hundreds of drivers offer a ride from Poland to Ukraine every month. Moreover, the cost of transportation is very high in these 2 countries; BlaBlaCar is happy to offer a cheap and social alternative for national and cross-border trips. 

Key Questions addressed by the report

  • Which ride-sharing service is going to dominate in the future?
  • How are the players addressing the challenge of maintaining a sustainable and profitable model for ride-sharing?
  • When are electric vehicles going to get mass adoption in the ride sharing market?
  • What could be the expected number of autonomous vehicles which will be used for ride-sharing?
  • What are the countries having a major presence in the ride sharing market?

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Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Package Size
    1.7 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Secondary Sources for Market Sizing
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Sampling Techniques & Data Collection Methods
                    2.1.2.2 Primary Participants
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Assumptions

3 Executive Summary (Page No. - 35)

4 Premium Insights (Page No. - 38)
    4.1 Attractive Opportunities in the Ride Sharing Market
    4.2 Asia Oceania: Market, By Service Type & Country
    4.3 Market Growth, By Key Countries
    4.4 Market, By Service Type
    4.5 Car Sharing Market, By Type
    4.6 Market, By Vehicle Type
    4.7 Micro Mobility Market, By Vehicle Type
    4.8 Market, By Data Service
    4.9 Market, By Distance

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Drivers
           5.2.1 Increasing Smartphone and Internet Penetration
           5.2.2 Increase in Cost of Vehicle Ownership
                    5.2.2.1 Reduction in Car Ownership Among Millennials
                    5.2.2.2 Rising Fuel Prices
           5.2.3 Stringent Co2 Reduction Targets
    5.3 Restraints
           5.3.1 Resistance From Traditional Transport Services
           5.3.2 Varying Transport Policies of Different Countries
    5.4 Opportunities
           5.4.1 Increasing User Base Among Millennials and Potential Generation Z
           5.4.2 Development of Autonomous Vehicles for Ride Sharing
           5.4.3 Oems as Mobility Service Providers
           5.4.4 Public-Private Partnerships
           5.4.5 Micro-Mobility
    5.5 Challenges
           5.5.1 Profitability and Sustainability Model
           5.5.2 First Mile Last Mile

6 Industry Trends (Page No. - 56)
    6.1 Introduction
    6.2 Ride Sharing Market – An Overall Ecosystem
    6.3 Porter’s Five Forces Analysis
           6.3.1 Intensity of Competitive Rivalry
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Threat of New Entrants
    6.4 Impact of Vehicle Automation on Ride Hailing
           6.4.1 Impact of Automation L2 on Ride Hailing
           6.4.2 Impact of Automation L3 on Ride Hailing
           6.4.3 Impact of Automation L4/L5 on Ride Hailing
    6.5 Autonomous Vehicles and Vehicle Connectivity
           6.5.1 Vehicle-To-Cloud (V2C)
           6.5.2 Vehicle-To-Pedestrian (V2P)
           6.5.3 Vehicle-To-Infrastructure (V2I)
           6.5.4 Vehicle-To-Vehicle (V2V)

7 Ride Sharing Market, By Service Type (Page No. - 65)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
    7.1 Introduction
           7.1.1 Research Methodology
           7.1.2 Assumptions and Definitions
           7.1.3 Industry Insights
    7.2 E-Hailing
           7.2.1 E-Hailing Leads the Market With the Presence of Industry Leaders Like Uber and Didi
    7.3 Car Sharing
           7.3.1 Rise in Daily Commute to Work Places and Increased Need to Save Fuel & Cost are Anticipated to Fuel the Car Sharing Market
    7.4 Car Rental
           7.4.1 The Demand for Car Rental Will Remain Stagnant Due to Growing Demand for Car Sharing and Station-Based Mobility
    7.5 Station-Based Mobility
           7.5.1 Station-Based Mobility Can Be One of the Best Solutions for the First Mile Last Mile Problem

8 Car Sharing Market, By Type (Page No. - 74)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
    8.1 Introduction
           8.1.1 Research Methodology
           8.1.2 Assumptions
           8.1.3 Industry Insights
    8.2 P2P Car Sharing
           8.2.1 P2P Leads the Car Sharing Market With the Presence of Industry Leaders Like Getaround and Blablacar
    8.3 Corporate Car Sharing
           8.3.1 Corporate Car Sharing Will Grow Faster in Future, as It is Easier to Find People Travelling for Business Purposes

9 Ride Sharing Market, By Vehicle Type (Page No. - 80)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
    9.1 Introduction
           9.1.1 Research Methodology
           9.1.2 Assumptions
           9.1.3 Industry Insights
    9.2 Ice (Internal Combustion Engine) Vehicle
           9.2.1 Ice Vehicles Have the Dominant Presence Across the Globe in the Car Sharing Industry
    9.3 Cng/Lpg Vehicle
           9.3.1 High Adoption in India and China Leads Asia Oceania to Cater to the Largest CNG/LPG Ride Sharing Market
    9.4 Electric Vehicle
           9.4.1 Electric Vehicles Have the Potential to Disrupt the Car Sharing Market in Future
    9.5 Micro Mobility Vehicle
           9.5.1 Asia Oceania is Expected to Be the Largest Market for Micro Mobility

10 Micro Mobility Market, By Vehicle Type (Page No. - 89)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
     10.1 Introduction
             10.1.1 Research Methodology
             10.1.2 Assumptions
             10.1.3 Industry Insights
     10.2 Bike/Bicycle
             10.2.1 Asia Oceania Dominates the Bicycle Market Owing to Presence of Leaders Such as Ofo and Mobike
     10.3 Scooter
             10.3.1 Scooter Will Show Fastest Growth Owing to Increasing Adoption of Electric Scooters
     10.4 Others
             10.4.1 Powered Two Wheelers are Facing Tough Competition From Scooters

11 Ride Sharing Market, By Data Service (Page No. - 96)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
     11.1 Introduction
             11.1.1 Research Methodology
             11.1.2 Assumptions
             11.1.3 Industry Insights
     11.2 Information Service
             11.2.1 With the Advent of Technology, the Usage of Information Services has Increased
     11.3 Navigation
             11.3.1 Navigation is the Most Imperative Data Service for Ride Sharing Service Providers
     11.4 Payment Service
             11.4.1 Increasing Adoption of Digital Payment Systems Will Prevail the Market for Payment Data Service
     11.5 Other
             11.5.1 Backend Support is Important for Maintaing Multiple Data Services

12 Ride Sharing Market, By Distance (Page No. - 104)
Note - The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America, and RoW
     12.1 Introduction
             12.1.1 Research Methodology
             12.1.2 Assumptions
             12.1.3 Industry Insights
     12.2 Short Distance
             12.2.1 E-Hailing and Station-Based Mobility Will Prevail the Market for Short Distance
     12.3 Long Distance
             12.3.1 Car Rentals Drive the Market for Long Distance Market

13 Ride Sharing Market, By Region (Page No. - 109)
Note - The Chapter is Further Segmented By Service Type – E-Hailing, Car Sharing, Car Rental, and Station-Based Mobility
     13.1 Introduction
             13.1.1 Research Methodology
             13.1.2 Assumptions
             13.1.3 Industry Insights
     13.2 Asia Oceania
             13.2.1 China
                        13.2.1.1 China Accounts for the Largest Share in the Overall Market Owing to Presence of Largest Player Didi
             13.2.2 India
                        13.2.2.1 India is Estimated to Be the Fastest Market in Asia Oceania
             13.2.3 Japan
                        13.2.3.1 Station-Based Mobility Estimated Show Fastest Growth in Japan 
             13.2.4 Singapore
                        13.2.4.1 Singapore is the Third Largest Market in Asia Oceania Owing to Presence of Leading Players Such as Grab
             13.2.5 Indonesia
                        13.2.5.1 Indonesia is the Second Largest Market in Asia Oceania
             13.2.6 Australia
                        13.2.6.1 Car Sharing is Estimated to Show Fastest Growth in Australia 
     13.3 Europe
             13.3.1 Germany
                        13.3.1.1 Car Sharing is Estimated to Be the Largest Market After E-Hailing in Germany
             13.3.2 France
                        13.3.2.1 E-Hailing Account for the Largest Market in France
             13.3.3 Italy
                        13.3.3.1 E-Hailing Account for the Largest Market in Italy
             13.3.4 Russia
                        13.3.4.1 E-Hailing Account for the Largest Market in Russia
             13.3.5 Spain
                        13.3.5.1 Station-Based Mobility Estimated Show Fastest Growth in Spain 
             13.3.6 UK
                        13.3.6.1 UK is Estimated to Be the Largest Market for E-Hailing in Europe
             13.3.7 Turkey
                        13.3.7.1 Turkey is Estimated to Be the Fastest Market in Asia Oceania 
                        
             13.3.8 Netherlands
                        13.3.8.1 Station-Based Mobility is the Great Potential Market in Netherlands With Fastest Growth
     13.4 North America
             13.4.1 Canada
                        13.4.1.1 Car Sharing is Estimated to Show Fastest Growth in Canada 
             13.4.2 Mexico
                        13.4.2.1 Mexico is Projected to Be the Fastest Growing Country in North America
             13.4.3 US
                        13.4.3.1 US Accounts for the Second Largest Share in the Overall Market Owing to Presence Uber
     13.5 Rest of the World (RoW)
             13.5.1 Brazil
                        13.5.1.1 Car Sharing is Projected to Be the Second Largest Market By 2025 After E-Hailing
             13.5.2 UAE
                        13.5.2.1 Car Sharing in UAE is Estimated to Show Flat Trend Owing to Government Restrictions
             13.5.3 South Africa
                        13.5.3.1 South Africa is Projected to Be the Fastest Growing Country in RoW Region

14 Competitive Landscape (Page No. - 135)
     14.1 Introduction
     14.2 Competitive Leadership Mapping
             14.2.1 Introduction
             14.2.2 Visionary Leaders
             14.2.3 Innovators
             14.2.4 Dynamic Differentiators
             14.2.5 Emerging Companies
     14.3 Competitive Leadership Mapping: E-Hailing, Car Rental, Car Sharing Service Providers, 2018
             14.3.1 Competitive Benchmarking
                        14.3.1.1 Company-Wise Business Strategy Analysis
                        14.3.1.2 Company-Wise Product Offering Analysis
     14.4 Competitive Leadership Mapping: Micro Mobility Service Providers, 2018
             14.4.1 Competitive Benchmarking
                        14.4.1.1 Company-Wise Business Strategy Analysis
                        14.4.1.2 Company-Wise Product Offering Analysis
     14.5 Ride Sharing Market Share Analysis
     14.6 Competitive Situations & Trends
             14.6.1 New Product Development
             14.6.2 Expansion
             14.6.3 Mergers/Acquisitions/Partnerships/Collaborations

15 Company Profiles (Page No. - 155)
(Overview, Product/Service Offerings, Recent Developments, SWOT Analysis)*
     15.1 Uber
     15.2 Lyft
     15.3 Didi
     15.4 Gett
     15.5 Grab
     15.6 Ola (Ani Technologies)
     15.7 Blablacar
     15.8 Intel
     15.9 Tomtom
     15.10 Aptiv
     15.11 Denso
     15.12 Additional Company Profiles
             15.12.1 North America
                        15.12.1.1 IBM
                        15.12.1.2 Ford
                        15.12.1.3 General Motors
                        15.12.1.4 Waymo
             15.12.2 Europe
                        15.12.2.1 Daimler
                        15.12.2.2 Car2go
                        15.12.2.3 Bmw
                        15.12.2.4 Bosch
                        15.12.2.5 Cabify
                        15.12.2.6 Taxify
             15.12.3 Asia Pacific
                        15.12.3.1 Toyota
                        15.12.3.2 Goget
             15.12.4 RoW
                        15.12.4.1 Careem
                        15.12.4.2 Easy Taxi

*Details on Overview, Product/Service Offerings, Recent Developments, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 191)
     16.1 Key Industry Insights
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Available Customizations
             16.4.1 Ride Sharing Market, By Vehicle Type (Key Countries*)
                        16.4.1.1 Electric Vehicle Mobility
                        16.4.1.2 Cng/Lpg Vehicle
                        16.4.1.3 Ice Vehicle Mobility
                        16.4.1.4 Micro-Mobility
             16.4.2 Ride Sharing Market, By City
                        16.4.2.1 New York, US
                        16.4.2.2 Los Angeles, US
                        16.4.2.3 London, UK
                        16.4.2.4 Berlin, Germany
                        16.4.2.5 Madrid, Spain
                        16.4.2.6 Dubai, UAE
                        16.4.2.7 Toronto, Canada
     16.5 Related Reports
     16.6 Author Details


List of Tables (74 Tables)

Table 1 Market Definitions
Table 2 Currency Exchange Rates (W.R.T. USD)
Table 3 Global Assumptions
Table 4 Segment Assumptions
Table 5 Impact Analysis
Table 6 US: Share of Light-Duty Vehicle Purchase By Age Group (Percentage)
Table 7 Mode of Transportation Varies By Distance
Table 8 Levels of Automation
Table 9 Autonomous Ride Hailing Vehicles (‘000 Units)
Table 10 Developments in Autonomous Cars for Ride Hailing
Table 11 Ride Sharing Market, By Service Type, 2018 vs 2025 (USD Billion)
Table 12 Top Players
Table 13 E-Hailing: Market, By Region, 2016–2025 (USD Billion)
Table 14 Top Players
Table 15 Car Sharing: Market, By Region, 2016–2025 (USD Billion)
Table 16 Top Players
Table 17 Car Rental: Market, By Region, 2016–2025 (USD Billion)
Table 18 Top Players
Table 19 Station-Based Mobility: Market, By Region, 2016–2025 (USD Billion)
Table 20 Car Sharing Market, By Type, 2016–2025 (USD Billion)
Table 21 Top Players
Table 22 P2P: Car Sharing Market, By Region, 2016–2025 (USD Billion)
Table 23 Top Players
Table 24 Corporate: Car Sharing Market, By Region, 2016–2025 (USD Billion)
Table 25 Ride Sharing Market, By Vehicle Type, 2018 vs 2025 (USD Billion)
Table 26 Ice Vehicle: Market, By Region, 2016–2025 (USD Billion)
Table 27 Cng/Lpg Vehicle: Market, By Region, 2016–2025 (USD Billion)
Table 28 Electric Vehicle: Market, By Region, 2016–2025 (USD Billion)
Table 29 Micro Mobility Vehicle: Market, By Region, 2016–2025 (USD Billion)
Table 30 Micro Mobility Market, By Vehicle Type, 2016–2025 (USD Million)
Table 31 Bike/Bicycle: Micro Mobility Market, By Region, 2016–2025 (USD Million)
Table 32 Scooter: Micro Mobility Market, By Region, 2016–2025 (USD Million)
Table 33 Others: Micro Mobility Market, By Region, 2016–2025 (USD Million)
Table 34 Ride Sharing Market, By Data Service, 2016–2025 (USD Million)
Table 35 Information Service: Market, By Region, 2016–2025 (USD Million)
Table 36 Navigation: Market, By Region, 2016–2025 (USD Million)
Table 37 Payment Service: Market, By Region, 2016–2025 (USD Million)
Table 38 Other: Market, By Region, 2016–2025 (USD Million)
Table 39 Ride Sharing Market, By Distance, 2016–2025 (USD Billion)
Table 40 Short Distance: Market, By Region, 2016–2025 (USD Billion)
Table 41 Long Distance: Market, By Region, 2016–2025 (USD Billion)
Table 42 Ride Sharing Market, By Region, 2016–2025 (USD Million)
Table 43 Ride Sharing Market, By Service Type, 2016–2025 (USD Million)
Table 44 Top Players
Table 45 Asia Oceania: Market, By Country, 2016–2025 (USD Million)
Table 46 China: Market, By Service Type, 2016–2025 (USD Million)
Table 47 India: Market, By Service Type, 2016–2025 (USD Million)
Table 48 Japan: Market, By Service Type, 2016–2025 (USD Million)
Table 49 Singapore: Market, By Service Type, 2016–2025 (USD Million)
Table 50 Indonesia: Market, By Service Type, 2016–2025 (USD Million)
Table 51 Australia: Market, By Service Type, 2016–2025 (USD Million)
Table 52 Top Players
Table 53 Europe: Market, By Country, 2016–2025 (USD Million)
Table 54 Germany: Market, By Service Type, 2016–2025 (USD Million)
Table 55 France: Market, By Service Type, 2016–2025 (USD Million)
Table 56 Italy: Market, By Service Type, 2016–2025 (USD Million)
Table 57 Russia: Market, By Service Type, 2016–2025 (USD Million)
Table 58 Spain: Market, By Service Type, 2016–2025 (USD Million)
Table 59 UK: Market, By Service Type, 2016–2025 (USD Million)
Table 60 Turkey: Market, By Service Type, 2016–2025 (USD Million)
Table 61 Netherlands: Market, By Service Type, 2016–2025 (USD Million)
Table 62 Top Players
Table 63 North America: Market, By Country, 2016–2025 (USD Million)
Table 64 Canada: Market, By Service Type, 2016–2025 (USD Million)
Table 65 Mexico: Market, By Service Type, 2016–2025 (USD Million)
Table 66 US: Market, By Service Type, 2016–2025 (USD Million)
Table 67 Top Players
Table 68 RoW: Market, By Country, 2016–2025 (USD Million)
Table 69 Brazil: Market, By Service Type, 2016–2025 (USD Million)
Table 70 UAE: Market, By Service Type, 2016–2025 (USD Million)
Table 71 South Africa: Market, By Service Type, 2016–2025 (USD Million)
Table 72 New Product/Services Developments, 2016–2018
Table 73 Expansions, 2016–2018
Table 74 Mergers/Acquisitions/Partnerships/Collaborations, 2016–2018

List of Figures (48 figures)

Figure 1 Market – Scope of the Study
Figure 2 Research Design – Market
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Ride Sharing Market Breakdown & Data Triangulation
Figure 6 Market: Bottom-Up Approach
Figure 7 Market: Top-Down Approach
Figure 8 Ride Sharing Market Outlook
Figure 9 Market, By Region, 2018 vs 2025 (USD Billion)
Figure 10 Growing Demand for Personal Mobility in the Wake of Rising Urbanization and High Maintenance Cost to Fuel Ride Sharing Market During the Forecast Period
Figure 11 E-Hailing and China Account for the Largest Share in the Asia Oceania Market By Service Type and Country, Respectively in 2018
Figure 12 India, Brazil, and South Africa to Grow at the Fastest Rate During the Forecast Period
Figure 13 E-Hailing Segment to Hold the Largest Market Share, 2018 vs 2025 (% By Value)
Figure 14 Corporate Car Sharing to Be the Fastest Growing Market During the Forecast Period (USD Billion)
Figure 15 Ice Vehicles to Hold the Largest Market Share By 2025 (USD Billion)
Figure 16 Bike/Bicycle to Hold the Largest Market Share By 2025 (USD Billion)
Figure 17 Payment Services to Be the Fastest Growing Data Service Market, 2018 vs 2025 (% By Value)
Figure 18 Short Distance Rides to Be the Largest Market During the Forecast Period (USD Billion)
Figure 19 Ride Sharing: Market Dynamics
Figure 20 Smartphone Users Penetration in 2018, By Country (%)
Figure 21 Brent Crude Oil Price (USD Per Barrel)
Figure 22 Co2 Reduction Targets of Developed and Developing Countries By 2030
Figure 23 Ride-Sharing Ecosystem
Figure 24 Bargaining Power of Buyers is High Due to Presence of Low-Cost Regional Players
Figure 25 Ride Sharing Market, By Service Type, 2018 vs 2025 (USD Billion)
Figure 26 Car Sharing Market, By Type, 2018 vs 2025 (USD Billion)
Figure 27 Market, By Vehicle Type, 2018 vs 2025 (USD Billion)
Figure 28 Micro Mobility Market, By Vehicle Type, 2018 vs 2025 (USD Million)
Figure 29 Market, By Data Service, 2018 vs 2025 (USD Million)
Figure 30 Market, By Distance, 2018 vs 2025 (USD Billion)
Figure 31 Market, By Country, 2018 (USD Billion)
Figure 32 Market, By Region, 2018 vs 2025 (USD Billion)
Figure 33 Market: Regional Market Share & Growth Rate, 2018 (Value)
Figure 34 Asia Oceania: Market Snapshot
Figure 35 Europe: Market, By Country, 2018 vs 2025 (USD Million)
Figure 36 North America: Market Snapshot
Figure 37 RoW: Market, By Country, 2018 vs 2025 (USD Million)
Figure 38 Market: Key Developments By Leading Players
Figure 39 Ride Sharing Market Share Analysis, 2017
Figure 40 Uber: SWOT Analysis
Figure 41 Lyft: SWOT Analysis
Figure 42 Didi: SWOT Analysis
Figure 43 Gett: SWOT Analysis
Figure 44 Grab: SWOT Analysis
Figure 45 Intel: Company Snapshot
Figure 46 Tomtom: Company Snapshot
Figure 47 Aptiv: Company Snapshot
Figure 48 Denso: Company Snapshot

The study involves four main activities to estimate the current size for the ride sharing market. Exhaustive secondary research was done to collect information on the market, such as service type and vehicle type. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. Bottom-up and top-down approaches were employed to estimate the complete market size for different segments considered under this study.

Secondary Research

The secondary sources referred for this research study include annual reports, press releases and investor presentations of companies, white papers, certified publications, articles from recognized authors, directories, databases, and articles from recognized associations and government publishing sources. Some of the sources include Ride Share Drivers' Association of Australia, Association of Internet Users, United RideShare Driver Association, among others. Various data points have been collected through secondary research such as key company’s revenues, gross booking, number of rides, average cost per ride, and number of drivers.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- and supply-side players across 4 major regions, namely, North America, Europe, the Asia Pacific, and the rest of the world (RoW—Latin America, the Middle East, and Africa). Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report. The primary validations include the base market size, forecasted market size, CAGR, segment level data, and trends of each segment.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject-matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Ride Hailing Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up and top-down approach both have been used to estimate and validate the size of the global ride sharing market. The market size, by value, of the market has been derived by identifying the country-wise usage pattern of service (e-hailing, car sharing, station-based mobility, car rental) based on the number of companies existing in each service type and estimating their revenues based on the average number of rides, number of users, and average cost per ride. This data is mapped for each country under the scope of the study and by vehicle type. The booked value of the major service providers in each country is added to derive the regional market size, in terms of value. The country-level data is added to obtain the total size, in terms of value, of the market in that region. For the top-down approach, the market obtained through bottom-up approach was broken down to make segments such as vehicle type, micro-mobility vehicle type, data service, and distance by applying regional breakdown for the same, as obtained through secondary research and insights from industry experts.

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in this report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Report Objectives

  • To define, describe, and forecast the market based on service type, car sharing type, vehicle type, micro mobility, data service, distance, autonomous, vehicle connectivity, and region
  • To forecast the market size of the market, by value, based on service type (e-hailing, car sharing, station-based mobility, and car rental)
  • To forecast the market size of the market, in terms of value, based on car sharing type (P2P and corporate)
  • To forecast the market size of the market, in terms of value, based on vehicle type (electric vehicle mobility, CNG/LPG vehicle, ICE vehicle mobility, micro-mobility)
  • To forecast the market size of the market, in terms of value, based on micro mobility (bike/bicycle, scooter, and others)
  • To forecast the market size of the market, in terms of value, based on data service (navigation, information service, payment service, and others)
  • To forecast the market size of the market, in terms of volume, based on autonomous vehicles
  • To forecast the market size of the market, in terms of value, based on distance (short and long)
  • To forecast the market size of the market, in terms of value, with respect to 4 key regions—Asia Oceania (China, India, Japan, Singapore, Indonesia, and Australia), Europe (France, Germany, UK, Russia, Spain, Netherlands, Turkey, and Italy), North America (Canada, Mexico, and the US), and the RoW (Brazil, UAE, and South Africa)
  • To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To provide detailed information about industry trends in the market, which include regulations, Porter’s Five Forces Analysis, the impact of autonomous driving on ride-sharing, the impact of ride-sharing on passenger vehicle sales, and market attractiveness index
  • To strategically analyze the market with respect to individual growth trends and prospects, and determine the contribution of each segment to the total market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market share and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and R&D in the market

Scope of the Report


Report Metric

Details

 

Market Size Available for Years

 

2016–2025

Base Year Considered

2017

Forecast Period

2018–2025

Forecast Units

Value (USD million/billion) and Volume (‘000 units)

Segments Covered

Service Type, Car Sharing Type, Vehicle Type, Micro Mobility, Data Service, Distance, Autonomous, Vehicle Connectivity, And Region

Geographies Covered

Asia Oceania, Europe, North America, and RoW

Companies Covered

Uber (US), Lyft (US), DiDi (China), Gett (Israel), and Grab (Singapore)
Total 25 major players covered

This research report categorizes the ride sharing market based on service type, car sharing type, vehicle type, micro mobility, data service, distance, autonomous, vehicle connectivity, and region.

Market, By Service Type

  • E-hailing
  • Car sharing
  • Station-based mobility
  • Car rental

Market, By Car Sharing Type

  • P2P
  • Corporate

Market, By Vehicle Type

  • Electric vehicle mobility
  • CNG/LPG vehicle
  • Ice vehicle mobility
  • Micro-mobility

Market, By Micro Mobility

  • Bike/bicycle
  • Scooters
  • Others (Powered two-wheelers and small electric cars)

Market, By Data Service

  • Navigation
  • Information service
  • Payment service
  • Others (cost estimation, reports, messaging, backend support)

Market, By Region

  • North America
  • Europe
  • Asia Oceania
  • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Ride Sharing Market, By Vehicle Type (Country Level)

  • Electric vehicle mobility
  • CNG/LPG vehicle
  • Ice vehicle mobility
  • Micro-mobility

Ride Sharing Market, By City

  • New York, US
  • Los Angeles, US
  • London, UK
  • Berlin, Germany
  • Madrid, Spain
  • Dubai, UAE
  • Toronto, Canada
Report Code
AT 4965
Published ON
Oct, 2019
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