A new study titled, “Global Ride Sharing Market” has been added to the comprehensive repository of Adroit Market Research.
Global Ride Sharing market size has been accounted and projected in terms of membership as well as revenue. Therefore, by membership, ride sharing market of North America is expected to record a CAGR of xx% over the forecast period.
However, market is limited to the solutions offered by major players in certain key regions, including North America, Europe and Asia-Pacific.
Furthermore, ride sharing business is a broad evaluation of all important aspects that will guarantee a good demand in the future.
The global ride sharing industry is in a renewal phase. Additionally, outpouring demand for ride sharing services worldwide can be applied to easy booking, improve passenger comfort, increase in traffic blockage, rise in government leadership which aims in growing awareness regarding the harmful effects of air pollution and the advancement of autonomous and semi-autonomous vehicles.
The global ride sharing market imports the current flow in the worldwide and the markets which are focusing on the regional criterion involve supply, technology, production, capacity, price, profit and rivalry. Approach in technology that help in the approval of ridesharing and the government policy, like toll fee remission and high-occupancy vehicle (HOV) lanes, are helping in the growth of market.
Ridesharing appears as uncluttered, bright and impressive tool to accord with the challenge of urbanization and the growth of megacities. It is predicted that ride sharing will not only have a significant impact over the entire automotive industry but will also help in reduction of energy consumption as well as pollution.
As a result, the idea is deficient for people who have to travel to the same destinations backward and forward in a week.
The competitive landscape for ride share market across the globe includes some of the biggest market players across the globe:
Uber Technologies Inc.,
Robert Bosch GmbH
ANI Technologies Private Limited
Tom Tom International
Uber focuses on the core markets with the physical presence which remains invested in the market through equal paling. Moreover, Uber has covered three important markets- China, Southeast Asia and Russia.
In China and Russia, Uber is continuously upgrading their standards and competing with the local vendors like Yandex and Didi Chuxing. Similarly, Uber has successfully expanded their business in seven countries of Southeast Asia by March 2018.
Uber’s main competitor in Latin America, Didi Chuxing (leading ride sharing application in China) has taken over Brazil’s 99 car sharing service. The news comes after Japan’s Softbank occupied an xx% of pale in Uber, this move that supported the U.S based company drive its retiring balance sheet with fresh income.
However, Uber and Lyft are quite successful in arranging rides and progressing in number of developing economies, but still there are a number of new players entering into the ride sharing industry and taking hold of worldwide shares. Players such as Ola and some domestic taxi services are predicted to acquire a large number of global ride sharing market shares over the forecast period.
Geographical segmentation of the global ride sharing market:
Middle East and Africa
Challenges being faced by the global ride sharing industry:
Some of the challenges restraining the growth of the industry are legal & regulatory environment hurdles, challenges within the policy as well as penetrating competition in ride sharing market due to large number of players.
Category: Market Research Publishers and RetailersCompany about: Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions, and industry associations that require an understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that ...