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. The growing global travel and tourism industry is one of the major drivers of the on-demand ride services market. The rising adoption of smart connected devices and the lower cost of these services are also boosting the growth of the on-demand ride services market. However, factors such as lack of regulation, fluctuating fares, and inadequate insurance coverage are hindering the growth of the on-demand ride services market. Geographically, North American and Europe regional markets accounted for significant market shares in 2018.
Growing global travel and tourism industry
High cost of ownership of cars
Lack of regulation
India-based ride-hailing platform OLA is planning to invest over $5 million to launch a ‘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.
On-Demand Ride Services Market Scope:
| Market size value in 2024
|| US$175.680 billion
| Growth Rate
|| CAGR of 6.25% from 2018 to 2024
| Base year
| Forecast period
| Forecast Unit (Value)
|| USD Million
| Segments covered
|| Type, Business Model, And Geography
| Regions covered
|| North America, South America, Europe, Middle East and Africa, Asia Pacific
| Companies covered
|| Universal Robots, Enterprise Holdings, Uber, Lyft, Avis Budget Group, Europcar, Sixt, Gett, Hailo, Grab Holdings Inc.
| Customization scope
|| Free report customization with purchase
The On-Demand Ride Services Market has been analyzed through the following segments:
By Business Model
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the on-demand ride services market size by 2024?
A1. The global on-demand ride services market is projected to reach a total market size of US$175.680 billion by 2024.
Q2. Who are the major players in the global on-demand ride services market?
A2. The major players profiled in the On-Demand Ride Services market report include Enterprise Holdings, Uber, Lyft, Avis Budget Group, Europcar, Sixt, Gett, Hailo, and Grab Holdings Inc.
Q3. What are the growth prospects for the on-demand ride services market?
A3. The on-demand ride services market is projected to grow at a CAGR of 6.25% during the forecast period.
Q4. What factors are anticipated to drive the on-demand ride services market growth?
A4. The growing global travel and tourism industry is one of the major drivers of the on-demand ride services market.
Q5. Which region holds the largest market share in the on-demand ride services market?
A5. Geographically, North America and European regional markets accounted for significant shares in the on-demand ride services market.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. ON-DEMAND RIDE SERVICES MARKET BY TYPE
5.2. Car Rental
6. ON-DEMAND RIDE SERVICES MARKET BY BUSINESS MODEL
7. ON-DEMAND RIDE SERVICES MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.1. United Kingdom
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.5. Asia Pacific
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investments and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. Enterprise Holdings
9.4. Avis Budget Group
9.9. Grab Holdings Inc.
LIST OF FIGURES
LIST OF TABLES
Avis Budget Group
Grab Holdings Inc.