The report entitled “Global Ride-Sharing Market: Size, Trends & Forecast (2018-2022)”, provides a detailed analysis of the global ride-sharing market with description of market sizing and growth. The analysis includes market by revenue and by penetration rate. A brief regional analysis of the US ride-sharing market has also been provided which includes the region’s bike-sharing market in terms of volume.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global ride-sharing market has also been forecasted for the years 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Uber Technologies Inc., Lyft, DiDi Chuxing, and Gett Inc. are some of the key players operating in the global ride-sharing market, whose company profiling has been done in the report. This segment briefs about business overview, financial overview and business strategies of the respective companies.
Uber Technologies Inc.
Ride-sharing which is also known as shared mobility is the most technological advanced transportation system that enables users to book a short distance ride as and when needed. Car-sharing, bike-sharing, carpooling and platform-based ride services (e.g., Uber, Lyft, BlaBlaCar) all come under such transportation systems. The main purpose of introducing such transportation mode is to lessen automobile emissions, traffic congestion and vehicle trips. In order to book a ride, one has to use smartphone app to arrange a ride in a privately-owned vehicle. Now days, instead of having ownership of a vehicle, consumers are increasingly looking for ride-sharing services which not only reduces the transportation cost but also the responsibility associated with owing a vehicle.
The ride-sharing industry has bring storm in the global ground transportation market and has gained popularity over the past few years primarily because of companies who are devoted to make transportation more reliable, safe, and enjoyable as well.
The global ride-sharing market has increased over the years and projections are made that the market would grow at a steady pace in the next four years i.e. 2018-2022, primarily because of increasing urbanization level worldwide and rising smartphone penetration especially in emerging economies. Other market dynamics that would propel the growth of the market include inclination of customers towards shared services, introduction of autonomous vehicles, technological advancements, convenience of booking etc. Yet the market faces some challenges which are obstructing the growth of the market. Some of the major challenges faced by the industry are: legal and regulatory environment hurdles, policy challenges, intense competition in market due to large number of players etc.