The
global on-demand transportation market size is expected
to reach USD 290.3 billion by 2025, according to a study conducted by Grand
View Research, Inc., progressing at a CAGR of 20.4% during the forecast period.
Rising penetration of smartphones and connected vehicles is increasing the
adoption of on-demand transportation services such as e-hailing, car sharing,
car rental, and station-based mobility. These services enable users to
pre-book, modify, or cancel their taxi reservations via mobile applications
such as Uber and Gett.
Advancements
in IT infrastructure and growing usage of car sharing services by millennials
are anticipated to drive the adoption of on-demand transportation services in
Europe. The Asia Pacific regional market is estimated to witness considerable
growth over the forecast period, owing to increased traffic and fuel prices.
Government initiatives, such as Smart Mobility 2030 plan of the Land Transport
Authority of Singapore, are also likely to bolster the growth of the market.
However,
issues regarding poor connectivity and high costs of developing infrastructure
may hamper the growth of the market. Therefore, car sharing service providers
are focusing on developing car-sharing applications, which do not require
internet connectivity for accessing them.
Browse full
research report on On-Demand Transportation Market: www.grandviewresearch.com/industry-analysis/on-demand-transportation-market
Further
Key findings from the study suggest:
- E-hailing services is poised to be the fastest
growing segment by registering a CAGR of 21.1% over the forecast period,
as these services provide flexibility to users by allowing them to reserve
taxis through an application
- Micro mobility provides benefits such as
reduced fuel consumption. The segment is projected to register the highest
CAGR of 25.5% over the forecast period
- The vehicle-to-pedestrian (V2P) connectivity
segment is expected to expand at a CAGR of 22.3% over the forecast period.
V2P helps connect pedestrians with vehicles via a wireless network and
enhances safety by providing real-time traffic information
- Asia Pacific is anticipated to be the most
promising region during the forecast period due to increased traffic and
vehicle costs in countries such as Japan and China
- Some of the prominent industry participants are
International Business Machines Corporation (IBM); BMW Group; Daimler
Group; Ford Motor Company; General Motor Company; Gett, Inc.; and Robert
Bosch GmbH.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global On-Demand Transportation
market based on service type, vehicle type, vehicle connectivity, and regions:
On-Demand
Transportation Service Type Outlook (Revenue, USD Million, 2014 - 2025)
- E-Hailing
- Car
Sharing
- Car
Rental
- Station-Based
Mobility
On-Demand
Transportation Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
- Four-Wheeler
- Micro
Mobility
On-Demand
Transportation Vehicle Connectivity Outlook (Revenue, USD Million, 2014 - 2025)
- V2V
- V2I
- V2P
- V2N
On-Demand
Transportation Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- France
- Asia
Pacific
- China
- Japan
- Korea
- Rest of
the World (RoW)
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-on-demand-transportation-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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