(USGovernment-News.Com, September 06, 2019 ) Market Overview • Ride sharing services will lessen the traffic, vehicle emissions into the environment and reduces vehicle cost. The person needs to use specific service provider smart phone apps to avail the services. • Ride-sharing still constitutes a tiny percentage in the total vehicle miles traveled. Smartphone & GPS has changed the ride sharing market dramatically. Once the number of users & drivers reach the critical mass, it results in an extremely efficient system.
Market Dynamics • As smartphone penetration, internet penetration and urban population increases, ride sharing market will overgrow. • The ride-sharing market has impacted the Auto Industry in a significant way. In a well-functioning ride sharing environment ride sharing users often postpone car purchase. This is especially true in developing countries. • Lack of parking space and permits in the major cities is the crucial restraint that affecting the market growth.
• Although Ride sharing drivers often work long hours, they earn barely above minimum wage & don’t enjoy any other benefits that are available to full-time employees. Which is a significant disadvantage for the market?
Market Segmentation • The market can be segmented into Peer to Peer Car sharing, Free-floating Car sharing, Stationary Car sharing, and others. • Transportation Network Companies is the most significant segment. Transportation Network Companies offer rides in private passenger cars. • Thereby the passenger requests a trip and will then be matched with a driver. Carpooling Services charge a commission for helping people going the same way to organize carpools using private vehicles. Others include online taxi bookings. By Type • Peer to Peer Car sharing • Free-floating Car sharing • Stationary Car sharing • Others By Region • Asia Pacific • Europe • North America • South America • Rest of the World
Geographical Analysis • By region, the market can be segmented into North America, South America, Europe, Asia-pacific and rest of the world. • China dominates the ride sharing market regarding revenue. • The market in the Asia-Pacific region is expected to expand in the future. • The combined share of China & United States in Ride sharing market is around 77%.
Competitive trends Didi Chuxing is the biggest ride-sharing service based company followed by Uber. BlaBlaCar is one of the most prominent carpooling company. Other players include Lyft, Grab, Curb, Ola, Gett, BlaBlaCar, Zimride, and Car2Go.
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