Seattle, WA -- (SBWIRE) -- 11/29/2019 -- Ride sharing is the sharing of vehicles by passengers as a transportation alternative. Ride sharing is not exactly an on-demand service and requires a little planning. Ride sharing is primarily intended to reduce vehicle costs, traffic congestion, and automobile emissions. The necessary prerequisite for a person in order to avail the benefits of the ride sharing transportation service, is a smartphone app. Drivers of privately-owned cars partner up with a ridesharing company in order to provide rides to commuters.
The market concentration rate of Ride Sharing is high. Though there are many small players in Global, the leading brands occupy large market share. Top 5 took up more than 79.04% of the global market in 2017.
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The global Ride Sharing market is valued at 24400 million USD in 2018 and is expected to reach 80500 million USD by the end of 2024, growing at a CAGR of 22.0% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Ride Sharing.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Ride Sharing market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Ride Sharing market by product type and applications/end industries.
Short distance and corporate commute are projected to hold majority of market share. However, the short distance type is anticipated to lead during the forecast period, attributed to the increase in the trend of ride hailing platform providers venturing in these services through their existing platforms. This type of service allows commuters to choose between ride hailing and ride sharing. This convenience is anticipated to contribute largely to the segment growth over the forecast period.
Market Segment by Companies, this report covers
Uber, Lyft, Fasten, Haxi, Via, Didi Chuxing, Ola Cabs, Grab, Go-Jek, BlaBlaCar, myTaxi, Dida Chuxing
Market Segment by Type, covers
Market Segment by Applications, can be divided into
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