Ride Sharing Market 2020-2025 Insights on Type, Region and Comprehensive Analysis of the Development Factors in the Industry

The global ride sharing market is projected to reach USD 169.82 billion by2025 and the report covers various factors and trends influencing the market growth during the forecast period.

Dallas, United States - October 29, 2020 /MarketersMedia/ —

Ride Sharing Market: Surge in Smart Device Ownership to Sustain Favorable Adoption

Several vital factors are continually leveraging dynamic alterations in ride sharing market. The primary factors that are steering ride sharing services include traffic congestion management and rider preferences for economical substitutes for daily commute. Growing smart device ownership globally is a major growth initiator, well supported by pervasive internet penetration. Adroit Market Research delves deeper in comprehending growth propellants and market forces that collectively impact growth prognosis in ride sharing market.

Ride Pass and Pooling Service Witnesses Larger Adoption for Daily Office Commuters

Smart device ownership has been on the rise with new product differentiation, affordability, improved buying capabilities and the like. Factors stated above have augmented smart device ownership across emerging economies which are highly populous. Thus, reliance on ride sharing systems have witnessed multi-layered adoption and growth in these regions.

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Additional factors such as digital payments with automatic payment gateway system further ensure safe transactions, allowing greater adoption. One of the most preferred ride-sharing features that commuters favor is the pooling service available for daily commuters with pass ownership. The pass facility is a cost-efficient method to undertake daily rides as compared to standard ride types.

Top Key Players areUber Technology Inc., Haxi, Ola, Lyft, DidiChuxing, Grab, Go Jerk, Easy task, Hitch-a-Ride, and Yandex Taxi.

Increasing urbanization and quick shift of rural population into urban areas critically supports ride sharing services market. As traditional cab services are enduring stiff competition from high tech ride sharing services, it is also being noticed that traditional drivers are also entering into the competition. Countries such as India which represents high population and therefore serves as an ideal base for new customers, affordability is also highly crucial to entice customers. Therefore, ride sharing services have also added three-wheeler services for shorter distances which are available at affordable prices. This further encourages adoption and reflects favorably on the growth curve of ride sharing market.

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Key segments of the global ride sharing market
Type Overview, 2015-2025 (USD million)
•    On-demand
•    Commute
•    Long Distance
Regional Overview, 2015-2025 (USD million)
•    North America
o    US
o    Canada
•    Europe
o    Germany
o    United Kingdom
o    France
•    Asia Pacific
o    China
o    India
o    Japan
•    Rest of the World

Table Of Content:

Chapter1. Executive Summary

Chapter2. Research Methodology

Chapter3. Market Outlook

Chapter4. Global Ride Sharing Market Overview, By Type

Chapter5. Global Ride Sharing MarketOverview, By Application

Chapter6. Global Ride Sharing MarketOverview, By Region

Chapter7. Company Profiles

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 About Us:

Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require 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 increase their revenues. We follow a code Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

 

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