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On-Demand Ride Services Market Size, Share, COVID 19 Impact, And Trends By Type (Ride-Hailing, Car Rental), By Business Model (B2B, B2C, C2C), And By Geography – Forecast From 2019 To 2024

Published: May 2020 | Report Code:  KSI061612821 | Pages:  102

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 UPDATES
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
 

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 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.

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