CHICAGO, April 22, 2020 /PRNewswire/ -- Post COVID-19, the report "COVID-19 Impact on Ride Sharing Market by Service Type (E-Hailing, Car Sharing, Car Rental, Station-Based Mobility), Data Service (Information, Navigation, Payment) and Region - Forecast to 2021", published by MarketsandMarkets™, COVID-19 Impact on Ride Sharing Market is estimated to be USD 75.39 billion in 2020 and projected to reach USD 117.34 billion by 2021, at a Y-O-Y growth of 55.6%. The market is primarily driven by rising urbanization and declining car ownership.
Browse in-depth TOC on "COVID-19 Impact on Ride Sharing Market"
30 – Tables
12 – Figures
60 – Pages
Request for PDF Brochure:
Corporate car sharing is expected to grow at the highest Y-O-Y growth in the global car sharing market during the forecast period
Corporate car sharing is a kind of mobility solution provided by employers to their employees for everyday commutation and specific business requirements. The demand for corporate car sharing is expected to grow as people riding to offices are likely to travel on the same route. Thus, it is much easier to find co-passengers with ease and less waiting time.
Corporate car sharing enables commercial businesses to reduce or eliminate private vehicle fleets by providing their employees access to shared cars. It offers many benefits to businesses such as flexibility to employees, lower fleet management costs, and less traffic on roads. In comparison to P2P sharing, corporate sharing is more organized and manageable to tackle during situations like COVID-19. Companies can take all the necessary precautions to avoid transmissions.
Bicycles are estimated to be the largest Ride Sharing Market, by micro-mobility vehicle type
Bicycles have the largest market globally in terms of their usage in the micro-mobility Ride Sharing Market. They are eco-friendly, cheap, less time consuming, comfortable for short rides, and easily available. All these make bicycles a preferred choice. It is necessary to follow social distancing to control the spread of COVID-19, which can be established through station-based mobility.
Request more details on:
Asia Pacific to have the largest market size during the forecast period
Asia Pacific is estimated to dominate the Ride Sharing Market and projected to grow at a significant CAGR during the forecast period. The growth in the Asia Pacific market is attributed to the wide customer base due to a growing population and rising urbanization in emerging economies such as China and India. Factors such as increasing urbanization and rising traffic congestion are likely to drive the demand for ride sharing services. For countries such as India and China, the consumer preference is changing, and with the rising population, the need for ride sharing is increasing to cater to the increase in customer base. Moreover, China has started to recover from the pandemic faster than any other country.
The Ride Sharing Market is dominated by global players and comprises several regional players. Some of the key players in the ride sharing industry are Uber (US), Lyft (US), DiDi (China), Grab (Singapore), Gett (Israel), Ola (India), BlaBlaCar (France), Lime (US), and Herts (US).
Browse Related Report:
Smart Transportation Market for Roadway & Railway By Technology (AVLS, TIS, EPS, & Intelligent Vehicle Initiatives), Components (CCTV Camera, GPS, Display, Automated Stop Announcement & Wi-Fi), Application, and Region - Global forecast to 2021
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/covid-19-impact-on-ride-sharing-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/covid-19-impact-on-ride-sharing.asp