Ride Sharing Market By Commute Type (Long Distance, Corporate, and Short Distance), By Business Model (P2P, B2C, and B2B) and, By Region - Trends, Analysis, and Forecast till 2030

Ride Sharing Market accounted for USD 82.32 Billion in 2020 and is estimated to be USD 364.56 Billion by 2030 and is anticipated to register a CAGR of 16.2%.

Ride Sharing is the new concept of traveling industry. It involves sharing the rides in a motor vehicle with other people, especially commuters. Also, one can use app to book its ride in a private vehicle. Carpooling is one of the eco-friendly concepts, as sharing a car means there will be fewer cars on the road, and therefore fewer emissions. There are various prominent players in the market such as Uber, Ola, Lyft etc. providing ride to millions of peoples on the daily basis. Drivers of ride-sharing services are considered contractors, not full-time employees. It is the cheapest form of transportation due to high competition among competitors. Ride hailing is getting one customer from point A to B whereas, ride sharing involves pooled trips, and independent passengers share one vehicle to get from point A to B.

Rising transportation service across the globe

Ride sharing allows travelers going along on the same route by share ride; it is good step to improve transportation service in the world. It provides driver a joy for longer rides and chance to earn more. Growing need to reduce urban traffic congestion and demand for cost effective type of travel with well comfort is a major factor driving the target market growth. Additionally, growing penetration of smart devices is likely to boost the target market growth. For instance, according to data published by pewinternet.org, the smart phone adoption has grown from 35% in 2011 to 81% in 2019 in U.S. Furthermore, research and development in autonomous vehicles for ride sharing will provide a huge opportunity to the global market growth.

However, safety concerns of an individuals are the major root cause of that hamper the growth of the market. Less awareness about such rides also restrains the growth of such market.

Ride sharing market is segmented based on commute type, business model and region.

On the basis of commute type, the ride sharing market is segmented into long distance, corporate and short distance.  On the basis of business model, the target market is segmented into P2P, B2C, and B2B.

Regional Insights:

On region the ride sharing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific registered largest share in terms of revenue due to evolution of urban transportation. The rapid globalization and increasing population are the key driving factors for the growth of the target market. Another factor is the time management and cost-effective transportation which is likely to be adopted by majority of the population in this region. North America holds second position in the ride sharing market due to low transportation facilities, demand for budget friendly and effective mobility is significantly growing in this region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the ride sharing market report based on commute type, business model and region.

Ride sharing Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the ride sharing market includes Uber Technologies Inc. ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Parity Group plc, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), BlaBlaCar, Wingz, Inc, Curb Mobility, Cabifysup

Uber Technologies Inc.

Their mission is to reimagine the way the world moves for the better. Uber technology helps us develop and maintain multisided platforms that match consumers looking for rides and independent providers of ride services, as well as with other forms of transportation, including public transit, bikes, and scooters.

• Uber Technologies Inc.
• ANI Technologies Pvt. Ltd. (OLA)
• Lyft, Inc.,
• Grab
• Careem
• Parity Group PLC
• Gett
• Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing)
• BlaBlaCar
• Wingz, Inc
• Curb Mobility
• Cabifysup