The on-demand ride services market is anticipated to expand at a high CAGR over the forecast period.
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 European 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 UPDATES
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
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