With the emergence and long-term Impact of COVID-19, Global Ride Sharing Market to reach USD 216.39 Billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis on Global Ride Sharing Market is poised to raise up to USD 216.39 Billion by 2027. Ride sharing is a service that match drivers of private vehicles to those seeking local taxicab-like transportation via mobile phone applications. The global ride sharing market is being driven by increase in cost of vehicle ownership in various regions and increasing urbanization. Furthermore, new business models to cover losses in ride sharing business and emergence of autonomous ride sharing will provide new opportunities for the global ride sharing industry. . Furthermore, the growing popularity of gummies among youngsters drives manufactures to develop new flavors and textures for their products. However, unstable raw material prices and rigorous regulations regarding quality standards may impede market growth over the forecast period of 2021-2027.
Geographically, the Global Ride Sharing market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The high population growth and rising urbanization have intensified the need of transportation which makes Asia Pacific the leading region across the world in terms of market share. Whereas Asia pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to shifting focus on smart personal mobility to reduce travel time and congestion in the region.
The Global Ride Sharing market is highly competitive owing to the presence of several key manufacturers such as Uber technologies, Inc., Gett, Lyft, Inc, Grab, Ani technologies Pvt. Ltd (Ola), Blablacar, Intel, Tomtom International BV., Aptiv and others.
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Key findings of the study suggest:
- Global Ride Sharing Market is anticipated to grow with a healthy growth rate of more than 16.8% over the forecast period 2021-2027.
- In the Service Type segment, E-hailing emerged as the leading market segment in 2020.
- In the Data Service, Navigation emerged as the leading market segment in 2020.
- In the Vehicle Type, Electric vehicle emerged as the leading market segment in 2020.
- Asia Pacific is anticipated to drive regional growth high population growth and rising urbanization have intensified the need of transportation.
- North America is expected to grow at higher rate followed by North America during 2021-2027.
Bizwit Research & Consulting has considered following segments for the study:
Serive type:
- E-hailing
- Car sharing
- Car rental
- Station-based mobility
Data Service:
- Navigation
- Payment
- Other data services
Vehicle Type:
- Internal combustion Engine (ICE)
- CNG/LPG vehicle
- Electric vehicle
- micro-mobility
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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