NEW YORK, Jan. 23, 2023 /PRNewswire/ — According to Technavio, the global ride sharing market size is estimated to grow by USD 86.33 billion from 2022 to 2027. The market is expected to grow at a CAGR of 17.45%. Moreover, the growth momentum will accelerate. APAC will account for 45% of the growth of the global market during the forecast period.
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Technavio has announced its latest market research report titled Global Ride Sharing Market 2023-2027
Global ride sharing market – Five forces
The global ride sharing market is fragmented, and the five forces analysis covers –
Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
For an interpretation of Porter’s five forces model – buy the report!
Global ride sharing market – Customer landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global ride sharing market – Segmentation assessment
Segment overview
Technavio has segmented the market based on end-user (individual and business) and type (car and others).
The individual segment will grow at a significant rate during the forecast period. In ride sharing, privately-owned car drivers partner with a ride-sharing company to provide rides to commuters. These services are economical, which makes the ride cheaper for riders and more efficient for the driver. These factors will fuel segment growth during the forecast period.
Geography overview
Based on geography, the global ride sharing market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global ride sharing market.
APAC is estimated to account for 45% of the growth of the global market during the forecast period. The demand for smart transportation network systems is driven by the increasing number of cities and population growth in developed and developing economies. The growth of the ride sharing market in the region is attributed to factors such as the rising middle-class population, growth in urbanization, and increasing emphasis by consumers on health and fitness. Thus, the market in APAC is expected to grow during the forecast period.
Global ride sharing market – Market dynamics
Key factor driving market growth
The increasing traffic congestion is driving the market growth.
Traffic congestion is a result of factors such as rapid population growth, increasing GDP per capita, a surge in the number of working women, and exponential growth in urbanization.
Other factors include the rise in the number of affordable entry-level cars and motor or electric bikes and the availability of low-interest loans by financial institutions.
Ride sharing is considered a solution for traffic congestion, as it is a hassle-free, eco-friendly, and cost-effective mode of transport.
These factors will fuel the market growth during the forecast period.
Leading trends influencing the market
The rising adoption of dockless bike-sharing services is a key trend in the market.
Dockless bikes can be picked up and dropped off anywhere without the need for parking or dock stations.
They come with GPS sensors, which reduces the chances of them being stolen or damaged.
Vendors are focusing on introducing a large number of dockless sharing bikes, as building a dock or parking station incurs huge costs.
Thus, the rising adoption of dockless bike-sharing services is expected to support the global market growth during the forecast period.
Major challenges hindering market growth
The risk of theft and the need for frequent maintenance are challenging market growth.
The widespread theft of bicycles is resulting in their scarcity.
Moreover, vendors need to send bicycles for maintenance frequently due to improper riding practices, frequent falls, and other reasons.
These factors are expected to hamper the global market growth during the forecast period.
What are the key data covered in this ride sharing market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the ride sharing market between 2023 and 2027
Precise estimation of the size of the ride sharing market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the ride sharing market across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of ride sharing market vendors
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Related Reports:
The ridesharing market in France is estimated to grow at a CAGR of 12.82% between 2022 and 2027. The size of the market is forecasted to increase by USD 2,473.33 million. This report extensively covers market segmentation by service type (E-hailing and station-based), vehicle type (car and others), and connectivity (short distance and long distance).
The electric car rental market is estimated to grow at a CAGR of 12.64% between 2022 and 2027. The size of the market is forecasted to increase by USD 11,246.65 million. This report extensively covers market segmentation by type (economy cars and luxury cars), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa).
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Ride Sharing Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.45% |
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Market growth 2023-2027 |
USD 86.33 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
17.15 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
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Key companies profiled |
ANI Technologies Pvt. Ltd., Avis Budget Group Inc, Bolt Technology OU, Cabify Espana SL, Comuto SA, Curb Mobility LLC, DENSO Corp., Enterprise Holdings Inc., Grab Holdings Ltd., GT Gettaxi UK Ltd., Hertz Global Holdings Inc., Ibibo Group Pvt. Ltd., iDisha Info Labs Pvt. Ltd., Lyft Inc, My Taxi Indi, PT GoTo Gojek Tokopedia Tbk, Share Now GmbH, Uber Technologies Inc, Via Transportation Inc., and TomTom International BV |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio’s industrials market reports
Table of Content:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global ride sharing market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on Global ride sharing market 2017 – 2021 ($ billion)
4.2 End-user Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)
4.3 Type Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ billion)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by End-user
6.1 Market segments
Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)
6.2 Comparison by End-user
Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user
6.3 Individual – Market size and forecast 2022-2027
Exhibit 34: Chart on Individual – Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Data Table on Individual – Market size and forecast 2022-2027 ($ billion)
Exhibit 36: Chart on Individual – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Individual – Year-over-year growth 2022-2027 (%)
6.4 Business – Market size and forecast 2022-2027
Exhibit 38: Chart on Business – Market size and forecast 2022-2027 ($ billion)
Exhibit 39: Data Table on Business – Market size and forecast 2022-2027 ($ billion)
Exhibit 40: Chart on Business – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Business – Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by End-user
Exhibit 42: Market opportunity by End-user ($ billion)
7 Market Segmentation by Type
7.1 Market segments
Exhibit 43: Chart on Type – Market share 2022-2027 (%)
Exhibit 44: Data Table on Type – Market share 2022-2027 (%)
7.2 Comparison by Type
Exhibit 45: Chart on Comparison by Type
Exhibit 46: Data Table on Comparison by Type
7.3 Car – Market size and forecast 2022-2027
Exhibit 47: Chart on Car – Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Data Table on Car – Market size and forecast 2022-2027 ($ billion)
Exhibit 49: Chart on Car – Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Car – Year-over-year growth 2022-2027 (%)
7.4 Others – Market size and forecast 2022-2027
Exhibit 51: Chart on Others – Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Chart on Others – Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Others – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Type
Exhibit 55: Market opportunity by Type ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
Exhibit 61: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
Exhibit 62: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
Exhibit 63: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.4 Europe – Market size and forecast 2022-2027
Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.5 North America – Market size and forecast 2022-2027
Exhibit 69: Chart on North America – Market size and forecast 2022-2027 ($ billion)
Exhibit 70: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
Exhibit 71: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.6 South America – Market size and forecast 2022-2027
Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.8 China – Market size and forecast 2022-2027
Exhibit 81: Chart on China – Market size and forecast 2022-2027 ($ billion)
Exhibit 82: Data Table on China – Market size and forecast 2022-2027 ($ billion)
Exhibit 83: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on China – Year-over-year growth 2022-2027 (%)
9.9 US – Market size and forecast 2022-2027
Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ billion)
Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ billion)
Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)
9.10 Germany – Market size and forecast 2022-2027
Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)
9.11 UK – Market size and forecast 2022-2027
Exhibit 93: Chart on UK – Market size and forecast 2022-2027 ($ billion)
Exhibit 94: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
Exhibit 95: Chart on UK – Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on UK – Year-over-year growth 2022-2027 (%)
9.12 Japan – Market size and forecast 2022-2027
Exhibit 97: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
Exhibit 98: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
Exhibit 99: Chart on Japan – Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on Japan – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 101: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 102: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 104: Overview on factors of disruption
11.4 Industry risks
Exhibit 105: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 106: Vendors covered
12.2 Market positioning of vendors
Exhibit 107: Matrix on vendor position and classification
12.3 ANI Technologies Pvt. Ltd.
Exhibit 108: ANI Technologies Pvt. Ltd. – Overview
Exhibit 109: ANI Technologies Pvt. Ltd. – Product / Service
Exhibit 110: ANI Technologies Pvt. Ltd. – Key offerings
12.4 Avis Budget Group Inc
Exhibit 111: Avis Budget Group Inc – Overview
Exhibit 112: Avis Budget Group Inc – Business segments
Exhibit 113: Avis Budget Group Inc – Key offerings
Exhibit 114: Avis Budget Group Inc – Segment focus
12.5 Bolt Technology OU
Exhibit 115: Bolt Technology OU – Overview
Exhibit 116: Bolt Technology OU – Product / Service
Exhibit 117: Bolt Technology OU – Key offerings
12.6 Cabify Espana SL
Exhibit 118: Cabify Espana SL – Overview
Exhibit 119: Cabify Espana SL – Product / Service
Exhibit 120: Cabify Espana SL – Key offerings
12.7 Comuto SA
Exhibit 121: Comuto SA – Overview
Exhibit 122: Comuto SA – Product / Service
Exhibit 123: Comuto SA – Key offerings
12.8 Curb Mobility LLC
Exhibit 124: Curb Mobility LLC – Overview
Exhibit 125: Curb Mobility LLC – Product / Service
Exhibit 126: Curb Mobility LLC – Key offerings
12.9 DENSO Corp.
Exhibit 127: DENSO Corp. – Overview
Exhibit 128: DENSO Corp. – Business segments
Exhibit 129: DENSO Corp. – Key news
Exhibit 130: DENSO Corp. – Key offerings
Exhibit 131: DENSO Corp. – Segment focus
12.10 Enterprise Holdings Inc.
Exhibit 132: Enterprise Holdings Inc. – Overview
Exhibit 133: Enterprise Holdings Inc. – Product / Service
Exhibit 134: Enterprise Holdings Inc. – Key news
Exhibit 135: Enterprise Holdings Inc. – Key offerings
12.11 Grab Holdings Ltd.
Exhibit 136: Grab Holdings Ltd. – Overview
Exhibit 137: Grab Holdings Ltd. – Product / Service
Exhibit 138: Grab Holdings Ltd. – Key offerings
12.12 GT Gettaxi UK Ltd.
Exhibit 139: GT Gettaxi UK Ltd. – Overview
Exhibit 140: GT Gettaxi UK Ltd. – Product / Service
Exhibit 141: GT Gettaxi UK Ltd. – Key offerings
12.13 Hertz Global Holdings Inc.
Exhibit 142: Hertz Global Holdings Inc. – Overview
Exhibit 143: Hertz Global Holdings Inc. – Business segments
Exhibit 144: Hertz Global Holdings Inc. – Key offerings
Exhibit 145: Hertz Global Holdings Inc. – Segment focus
12.14 iDisha Info Labs Pvt. Ltd.
Exhibit 146: iDisha Info Labs Pvt. Ltd. – Overview
Exhibit 147: iDisha Info Labs Pvt. Ltd. – Product / Service
Exhibit 148: iDisha Info Labs Pvt. Ltd. – Key offerings
12.15 Lyft Inc
Exhibit 149: Lyft Inc – Overview
Exhibit 150: Lyft Inc – Product / Service
Exhibit 151: Lyft Inc – Key offerings
12.16 Share Now GmbH
Exhibit 152: Share Now GmbH – Overview
Exhibit 153: Share Now GmbH – Product / Service
Exhibit 154: Share Now GmbH – Key offerings
12.17 Uber Technologies Inc
Exhibit 155: Uber Technologies Inc – Overview
Exhibit 156: Uber Technologies Inc – Business segments
Exhibit 157: Uber Technologies Inc – Key offerings
Exhibit 158: Uber Technologies Inc – Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 159: Inclusions checklist
Exhibit 160: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 161: Currency conversion rates for US$
13.4 Research methodology
Exhibit 162: Research methodology
Exhibit 163: Validation techniques employed for market sizing
Exhibit 164: Information sources
13.5 List of abbreviations
Exhibit 165: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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