LONDON, May 10, 2023 (GLOBE NEWSWIRE) -- According to The Business Research Company’s ride-sharing market report, the ride sharing market size is anticipated to increase from $95 billion in 2022 to $113 billion in 2023, at a compound annual growth rate (CAGR) of more than 18%. Further, the ride-sharing market is expected to reach $231.62 billion in 2027 at a CAGR of more than 19%. North America was the largest region in the ride-sharing market in 2022.
The increasing use of smart devices is expected to drive the growth of the ride-sharing market. Smart devices, which are objects made intelligent through advanced computing, AI, machine learning, and networking, are crucial for keeping an eye on drivers for ride-sharing companies.
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The ride-sharing market has many key companies, including ANI Technologies Pvt. Ltd., BlaBlaCar, Cabify Espana S.L.U, Careem, Gett, GrabTaxi Holdings Pte.Ltd., Lyft Inc., Uber Technologies Inc., Didi Chuxing, car2go, Aptiv PLC, OLA, TOMTOM International BV, DAIMLER, Bolt Technology OU, Zimride, and Denso Corporation.
Technological innovation is a significant trend in the ride-sharing market, and new technologies are changing the way people share rides. Apps like Scoop and industry leaders like Uber and Lyft have made prominent forays into the carpooling sector, attracting a sizable and expanding following.
In January 2022, Uber Technologies Inc. acquired Car Next Door, an Australian company that facilitates peer-to-peer car rental services, for an undisclosed amount. This acquisition will provide Australians with an economical and convenient alternative to private automobile ownership, offering users a reliable choice for journeys that are less suitable for ride-sharing, such as running errands at the store or taking a day trip.
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The global ride sharing market is segmented as-
1) By Type: Car Sharing, E-Hailing, Car Rental, Station-Based Mobility
2) By Membership type: Fixed Ridesharing, Corporate Ridesharing, Dynamic Ridesharing
3) By Target Audience: Corporate, Families, Daily Commuters, Other Target Audiences
4) By Business Model: P2P, B2B, B2C
5) By Application: Android, IOS, Other Applications
The Ride-Sharing Market Report provides a detailed market forecast for the period and identifies key market trends and drivers that are expected to shape the future of the ride-sharing market. The report highlights the growth potential of the ride-sharing market in various regions across the globe along with insights into, competitive landscape, and market dynamics in each of these regions.
Ride Sharing Global Market Report 2023 by The Business Research Company provides insights on the ride sharing market size, ride sharing market segments, ride sharing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 4,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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