PUBLISHER: IMARC | PRODUCT CODE: 1390583
PUBLISHER: IMARC | PRODUCT CODE: 1390583
The global on-demand transportation market size reached US$ 155.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 443.1 Billion by 2028, exhibiting a growth rate (CAGR) of 19.11% during 2022-2028.
On-demand transportation enables passengers to book their journey at a convenient time. It provides the option of modifying, pre-booking or canceling reservations using a mobile-based application, which enhances the convenience of both commuters and service operators. It also assists in booking passenger and commercial vehicles, such as taxis, cars, charter buses, contracted buses, party buses and hired buses. At present, on-demand transportation is gaining immense traction around the world on account of the increasing digitalization and the growing penetration of internet-based services.
The global on-demand transportation market is primarily driven by the rising sales of smartphones. Additionally, a significant increase in traffic-related problems, growing costs of fuel, reduced parking spaces and high costs of automobiles has positively influenced the demand for on-demand transportation services. They offer improved security and safety by utilizing intelligent communication systems. In line with this, numerous developments in the information and technology (IT) infrastructure, coupled with the increasing demand for cab/taxi services by individuals, are acting as another growth-inducing factor. Moreover, on-demand transportation relies on artificial intelligence (AI) to efficiently coordinate and manage transportation systems. It provides passengers with traffic-related information for improved coordination with the drivers. This, in turn, is creating a favorable outlook for the market. Other major factors anticipated to fuel the growth of the market include increasing tourism activities across the globe, increasing working-class population, rising trend of road trips and modernization in the automotive sector.
IMARC Group provides an analysis of the key trends in each sub-segment of the global on-demand transportation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, vehicle type and application.
E-Hailing
Car Sharing
Car Rental
Station-Based Mobility
Four-Wheeler
Micro Mobility
Passenger Transportation
Goods Transportation
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ANI Technologies Pvt. Ltd, Avis Budget Group Inc., Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, Gett Inc., Grab Holdings Inc., International Business Machine Corporation, Lyft Inc., Robert Bosch GmbH, Toyota Motor Corporation and Uber Technologies Inc.