Dublin, May 05, 2020 (GLOBE NEWSWIRE) -- The "COVID-19 Impact on the Ride Sharing Market by Service Type (E-Hailing, Car Sharing, Car Rental, Station-Based Mobility), Data Service (Information, Navigation, Payment) and Region - Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
Post-COVID-19, the global ride sharing market is projected to grow to USD 117.33 billion by 2021 from USD 75.39 billion in 2020, at 55.6% Y-O-Y. The projection for 2021 is estimated to be down by 2.1% vs. the pre-COVID-19 estimates.
The growing need for personal mobility in the wake of rising urbanization and fall in car ownership are expected to fuel the demand for ride sharing.
The growing need for personal mobility in the wake of rising urbanization and fall in car ownership is driving the demand for ride sharing. The factors that restrain the market are resistance from traditional transport services and complex transport policies of different countries. The projection for 2021 is estimated to be down by 2% as compared to the pre-COVID-19 estimation.
Station-based mobility is the fastest growing segment in the global ride sharing market.
The station-based mobility market is expected to grow at the fastest Y-O-Y growth. Governments have incentivized station-based mobility across the world, and dedicated tracks are laid in various countries for station to station mobility. It is necessary to follow social distancing to control the spread of COVID-19, which can be established through station-based mobility. Car sharing is the second fastest growing segment. The growth of car sharing is attributed to its benefits such as getting benefits of a private vehicle without the costs and responsibilities of car ownership. Car sharing companies are entering different markets to expand their services. For instance, BlaBlaCar has expanded to Russia and Ukraine, the two biggest countries in Europe. Some of the largest players in this market are car2go, Maven, BlaBlaCar, and Getaround.
Navigation service constitutes the largest data service for the ride sharing market globally.
The data services market is completely proportionate to the ride sharing market. Due to COVID-19, the market for ride sharing is expected to show a stagnant or steady growth during 2020. The market for navigation services will experience the same. However, the navigation service segment has the largest market size in data service for the ride sharing market globally. Navigation guides drivers and passengers regarding location and route. Also, mapping and traffic data provides a better user experience. The use of navigation services is imperative for ride sharing. Thus, the increasing number of ride sharing service users influence the demand for ride sharing data services. Availing and maintaining these services is costly, and as ride sharing companies are working toward increasing profitability, it would be beneficial for them to develop services of their own to save cost.
The Asia Pacific is estimated to be the largest market for ride sharing during the forecast period.
The Asia Pacific is expected to lead the ride sharing market in terms of market size. Dense population and increasing urbanization are driving the ride sharing market in the region. Increasing urbanization leads to traffic congestion, and increasing population boosts the demand for different mobility options in urban areas. E-hailing services such as app-based taxi services, car sharing services, and station-based mobility are expected to flourish in this region because of the increasing population of urban areas. DiDi is the largest player in the region and has close to 400 million subscribers. The company enjoys a monopoly in China and is expanding its business to other Southeast Asian countries to widen its footprint. Moreover, China has started to recover from the pandemic faster than any other country.
Key Topics Covered:
1 Introduction
2 Market Overview
2.1 Introduction
2.2 Ride Sharing - An Overall Ecosystem
2.3 Mobility-On-Demand Ecosystem and Indication of Impacted Service
2.4 Ride Sharing Companies & Impact on Their Ecosystem, by Region & Service Type
2.4.1 Uber
2.4.2 Didi
2.4.3 Lyft
2.4.4 Grab
2.4.5 Ola
2.5 Market Dynamics
2.5.1 Short-Term Driver - Better Focus on First & Last Mile Services in Combination with Station-Based Mobility
2.5.2 Short Term Restraint - Impact on Investments by Investors
3 Impact of COVID-19 on Market Size of Ride Sharing Services
3.1 Introduction
3.2 E-Hailing
3.2.1 E-Hailing is The Most Impacted Service During COVID-19 Lockdown
3.3 Car Sharing
3.3.1 As a Precautionary Measure to Control The Spread of Pandemic, The Market for Car Sharing Will Witness Negative Growth
3.3.2 Car Sharing Market, by Type, 2018 Vs. 2021 (USD Billion)
3.3.2.1 P2P Car Sharing
3.3.2.1.1 P2P Will Have Major Impact from COVID-19
3.3.2.2 Corporate Car Sharing
3.3.2.2.1 Corporate Car Sharing Will Have a Moderate Impact During Post-COVID-19
3.4 Car Rental
3.4.1 Demand for Car Rental Will Remain Stagnant Due to Growing Demand for E-Hailing and Station-Based Mobility
3.5 Station-Based Mobility
3.5.1 Moderate Hike in Demand for Station-Based Mobility Will Be Observed Due to COVID-19
4 Impact of COVID-19 on Market Size of Ride Sharing Data Services
4.1 Introduction
4.2 Information
4.2.1 with The Advent of Technology, Usage of Information Services Has Increased
4.3 Navigation
4.3.1 Navigation is The Most Imperative Data Service for Ride Sharing Service Providers
4.4 Payment
4.4.1 Increasing Adoption of Digital Payment Systems Will Drive The Market for Payment Data Services
4.5 Others
4.5.1 Backend Support is Important for Maintaining Multiple Data Services
5 Impact of COVID-19 on Ride Sharing Market, by Country
5.1 Introduction
5.2 Asia Pacific
5.2.1 China
5.2.1.1 Relatively Quicker Recovery Will Help The Chinese Market Stabilize
5.2.2 India
5.3 Europe
5.3.1 Germany
5.3.2 France
5.3.3 Italy
5.3.4 Spain
5.4 US
6 Business Opportunities for Mobility Service Providers
6.1 Introduction
6.2 New Business Opportunities
6.2.1 Station-Based Mobility
6.2.2 E-Commerce and Home Delivery
6.2.3 Pharmacy & Other Daily Necessities
6.2.4 Business Opportunities in Adjacent Market
6.2.4.1 Electrification in Ride Sharing
6.2.4.2 Autonomous Vehicles in Ride Sharing
6.2.5 Top Gainers Vs Top Losers, by Services
6.2.6 Top Players and Their Possible Top Ventures
7 Competitive Landscape and COVID-19
7.1 Introduction
7.1.1 Ride Sharing Companies & Impact on Their Ecosystem
7.2 Precautionary Measures for COVID-19 by Key Mobility Service Providers
7.2.1 Right-To-Win - During COVID-19 Period
8 Appendix
8.1 Knowledge Store: Subscription Portal
8.2 Author Details
Companies Mentioned
- Aptiv
- BlaBlaCar
- Denso
- DiDi
- Gett
- Grab
- Intel
- Lyft
- Ola
- TomTom
- Uber
For more information about this report visit https://www.researchandmarkets.com/r/oxgbhu
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