Rising Emission Control Laws to Augment Ride Sharing Market

Market Synopsis

The ride sharing market 2020 is likely to gain much more popularity than past few years. It is expected to continue augmenting in the coming years. An analysis offered by Market Research Future (MRFR), based on ongoing trends and historic data, the global ride sharing market is supposed to mark 10% CAGR across the review period. The valuation of the market is anticipated to touch a considerable mark by the close of the forecast period. It is mainly because of the rising awareness about the benefits of carpooling on the environment.

Ride sharing market is capitalizing on the rising problems of traffic congestions being faced all over the world. It is poised to motivate investments in the market in the foreseeable future. In addition, rising concerns regarding air pollution are also turning heads. Implementation of stricter emission laws is expected to boost the growth rate of the ride sharing market. The governments are supposed to promote ride sharing to curb traffic and pollution. These measures are prognosticated to prompt the growth of the ride sharing market across the prognosis period. It is also anticipated to raise awareness among the users, thus, augmenting the ride sharing industry.

New players are entering the market to offer convenient ride sharing experiences. The availability of a wide range of services as per convenience is poised to have a positive impact on the ride sharing market. Moreover, ride sharing services are way cheaper than driving own vehicles. Cost-benefit of the service is projected to motivate the growth trajectory of the ride sharing market. In addition, rising fuel prices is another major factor anticipated to have a favorable impact on the growth of the ride sharing market. Moreover, the depleting sources of fuel is likely to motivate more inclination towards the adoption of ride sharing services.

Market Segmentation

On the basis of type, the ride sharing market has been segmented into car sharing, car rental, e-hailing, and station-based mobility.

On the basis of vehicle type, the ride sharing market has been segmented into CNG/LPG vehicle, ICE vehicle, and electric vehicle.

On the basis of business model, the ride sharing market has been segmented into B2B, P2P, and B2C.

Regional Analysis

The geographical evaluation of the ride sharing market has been included in the report that covers North America, Asia-Pacific, Europe, and the Rest of the World (RoW). These regions are narrowed down and studied on the basis of countries to provide impactful intelligence. North America is presumed to dominate the market place for ride sharing. Increasing number of key players in the region are supposed to provide impetus to market growth. The USA ride sharing market is anticipated to contribute significant amount of revenue for the development of the global market. Riisng awareness about the benefits of the services is anticipated to drive the growth rate of the ride sharing market in the near future. In addition, technological innovations to support the expansion of the market are further observed to influence the ride sharing market significantly.

Europe is also poised to witness large-scale adoption of the services. Increasing awareness about the effects of carbon emissions is projected to lead the augmentation of the ride sharing market in the coming years. Asia Pacific is also poised to exhibit strong growth opportunities. It can be attributed to the rising implementation of stricter laws.

Competitive Dashboard

Uber Technologies Inc. (U.S.), Didi Chuxing Technology Co. (China), Lyft, Inc. (U.S.), Gett (Israel), GrabTaxi Holdings Pte. Ltd. (Singapore), ANI Technologies Pvt. Ltd. (India), Taxify (Estonia), Cabify (Spain), Careem (UAE), and car2go (Germany) are the key players of the ride sharing market.

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