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On-Demand Ride Services Market – Forecast From 2019 To 2024

102 pages
Published on : Aug 2019
Report Code : KSI061612821

Description

The On-Demand Ride Services market is projected to grow at a CAGR of 6.25% during the forecast period, reaching a total market size of US$175.680 billion in 2024. Growing global travel and tourism industry is one of the major drivers of on-demand ride services market. Rising adoption of smart connected devices and lower cost of these services are also boosting the growth of on-demand ride services market. However, factors such as lack of regulation, fluctuating fares, and inadequate insurance coverage are hindering the growth of on-demand ride services market. Geographically, North America and Europe regional markets accounted for significant market shares in 2018.

DRIVERS

Growing global travel and tourism industry

High cost of ownership of cars

RESTRAINTS

Lack of regulation

Fluctuating fares

INDUSTRY UPDATE

India-based ride-hailing platform OLA is planning to invest over $5 million to launch ‘self-drive’ service to diversify its portfolio of transportation solutions.

Enterprise Holdings has recently announced its plans to launch a car subscription service.

The major players profiled in the On-Demand Ride Services market include Enterprise Holdings, Uber, Lyft, Avis Budget Group, Europcar, Sixt, Gett, Hailo, and Grab Holdings Inc.

Segmentation

The On-Demand Ride Services Market has been analyzed through the following segments:

By Type

Ride-Hailing

Car Rental

By Business Model

B2B

B2C

C2C

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

United Kingdom

Germany

France

Italy

Spain

Others

Middle East and Africa

Saudi Arabia

UAE

Israel

Others

Asia Pacific

China

Japan

India

Australia

Others

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