On-Demand Transportation Services Market Size, Share, And Trends By Type (Ride Sharing, Vehicle Rental/Leasing, Ride Sourcing), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Buses & Coaches, Micro Mobility), By Business Model (P2P, B2B, B2C), By Application (Passenger Transportation, Goods Transportation), And By Geography – Forecast From 2019 To 2024

Description

On-Demand Transportation service is a public transportation service characterized by flexibility with respect to route, destination and time based on the requirement of the consumer. The market for this service is expected to grow at a significant rate driven by the growth of internet penetration. On-demand transport service proves to be cheaper as compared to personal vehicles and offer greater convenience than public transport which is expected to further fuel the market growth in the coming years. However, safety concerns are projected to be a restraint to market growth. By type, vehicle rental is estimated to have a considerable market share. The ride-sourcing segment is expected to have a significant growth rate due to the rise in internet penetration. By vehicle type, passenger cars segment is estimated to have a significant market share. By geography, the Asia Pacific market is expected to have a significant market share as there is a high percentage of the middle-class population who do not own a vehicle.

DRIVERS

Rising internet penetration

Greater convenience as compared to public transport

RESTRAINT

Concerns regarding passenger and goods safety

INDUSTRY UPDATE

In February 2019, BMW and Daimler teamed up for a billion-euro mobility effort that spans autonomous cars, ride-hailing, electric scooters, car-sharing, and electric car charging

In April 2018, Ford launched an on-demand medical transportation service called GoRide.

SEGMENTATION

The on-demand transportation services market has been analyzed through the following segments:

By type

Ride Sharing

Vehicle rental/Leasing

Ride sourcing

By vehicle type

Passenger Cars

Light commercial vehicles

Heavy commercial; vehicles

Buses & Coaches

Micro mobility

By business model

P2P

B2B

B2C

By application

Passenger transportation

Goods transportation

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Others