PUBLISHER: IMARC | PRODUCT CODE: 1423436
PUBLISHER: IMARC | PRODUCT CODE: 1423436
Ride Sharing Market Report by Service Type, Booking Mode, Membership Type, Commute Type, and Region 2024-2032
Abstract
The global ride sharing market size reached US$ 113 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 439.4 Billion by 2032, exhibiting a growth rate (CAGR) of 16.20% during 2024-2032. The market is propelled by technological advancements, economic efficiency, and a shift towards sustainable and shared transportation models, along with rising smartphone penetration and technological advancements.
Ride sharing refers to a transportation model where individuals share a vehicle trip, reducing travel costs, congestion, and environmental impact. This concept contrasts with traditional taxi services by enabling regular people to turn their private vehicles into part-time taxis through a digital platform. These platforms, typically smartphone applications, match passengers with drivers heading in the same direction. Ride sharing has gained significant traction due to its convenience, cost-effectiveness, and the rise of smartphones and mobile internet access. Market players offer a range of services from economical carpool options to more luxurious solo rides. The model's scalability has enabled rapid expansion into global markets, appealing to urban residents, commuters, and those without access to private or public transportation. The growth of ride sharing has been accompanied by regulatory challenges and concerns over safety, employment status of drivers, and its impact on traditional taxi services. Despite these issues, ride sharing remains an integral part of the evolving urban transportation landscape, offering a flexible alternative to conventional transport modes.
Ride Sharing Market Trends:
Technological advancements, particularly in smartphone technology and mobile internet connectivity, represent one of the key factors driving the global ride sharing market. The widespread adoption of smartphones has facilitated the growth of app-based ride sharing platforms, allowing for real-time matching of drivers and passengers. GPS technology ensures efficient route planning, while digital payment systems enable seamless financial transactions. Additionally, developments in data analytics has helped these platforms optimize pricing and logistics, enhancing user experience. Economically, ride sharing offers cost savings for users, as it typically undercuts traditional taxi fares and reduces the need for personal vehicle ownership, especially in urban areas where parking and maintenance costs are high. This economic efficiency is particularly appealing in the context of growing urbanization and the increasing economic pressure on urban residents.
Social and environmental factors are also significantly contributing to the growth of the ride sharing market. There is a rising awareness of environmental issues, and ride sharing is seen as a more sustainable transportation option. By maximizing vehicle occupancy, it reduces carbon emissions and traffic congestion, aligning with broader environmental goals. Furthermore, changing social attitudes, especially among younger populations, favor access over ownership, leading to a greater acceptance of shared services. This shift is part of a larger trend towards a 'sharing economy,' where assets and services are shared between individuals, often facilitated by technology. Ride sharing also addresses gaps in existing public transportation networks, providing a flexible solution for last-mile connectivity. However, the industry faces challenges, including regulatory hurdles, concerns over the safety and rights of both drivers and passengers, and the impact on traditional taxi services. These issues, alongside the potential disruption from autonomous vehicle technology, represent ongoing considerations for the future trajectory of the ride sharing market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on service type, booking mode, membership type, and commute type.
Service Type Insights:
E-Hailing
Car Sharing
Station-Based Mobility
Car Rental
The report has provided a detailed breakup and analysis of the market based on the service type. This includes e-hailing, car sharing, station-based mobility, and car rental. According to the report, e-hailing represented the largest segment.
Booking Mode Insights:
App-based
Web-based
A detailed breakup and analysis of the market based on the booking mode has also been provided in the report. This includes app-based and web-based. According to the report, app-based represented the largest segment.
Membership Type Insights:
Fixed Ridesharing
Dynamic Ridesharing
Corporate Ridesharing
The report has provided a detailed breakup and analysis of the market based on the membership type. This includes fixed, dynamic, and corporate ridesharing. According to the report, corporate ridesharing represented the largest segment.
Commute Type Insights:
ICE Vehicle
Electric Vehicle
CNG/LPG Vehicle
Micro Mobility Vehicle
A detailed breakup and analysis of the market based on the commute type has also been provided in the report. This includes ICE vehicle, electric vehicle, CNG/LPG vehicle, and micro mobility vehicle. According to the report, electric vehicle represented the largest segment.
Regional Insights:
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 report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for ride sharing. Some of the factors driving the North America ride sharing market included high smartphone penetration, urban traffic congestion, environmental concerns, and a cultural shift towards shared economy models, alongside significant investments in technology-driven transport solutions.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global ride sharing market. The detailed profiles of all major companies have been provided. Some of the companies covered include ANI Technologies Pvt. Ltd. (OLA), BlaBlaCar, Bolt Technology OU, Cabify, Curb Mobility LLC, Gett, Grab Holdings Inc, HyreCar Inc, Lyft, Inc., Tomtom International B.V., and Uber Technologies Inc.
Key Questions Answered in This Report:
- How has the global ride sharing market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global ride sharing market?
- What is the impact of each driver, restraint, and opportunity on the global ride sharing market?
- What are the key regional markets?
- Which countries represent the most attractive ride sharing market?
- What is the breakup of the market based on the service type?
- Which is the most attractive service type in the ride sharing market?
- What is the breakup of the market based on the booking mode?
- Which is the most attractive booking mode in the ride sharing market?
- What is the breakup of the market based on the membership type?
- Which is the most attractive membership type in the ride sharing market?
- What is the breakup of the market based on the commute type?
- Which is the most attractive commute type in the ride sharing market?
- What is the competitive structure of the global ride sharing market?
- Who are the key players/companies in the global ride sharing market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Ride Sharing Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Service Type
- 6.1 E-Hailing
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Car Sharing
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Station-Based Mobility
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Car Rental
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Booking Mode
- 7.1 App-based
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Web-based
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Membership Type
- 8.1 Fixed Ridesharing
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Dynamic Ridesharing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Corporate Ridesharing
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Commute Type
- 9.1 ICE Vehicle
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Electric Vehicle
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 CNG/LPG Vehicle
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Micro Mobility Vehicle
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 Drivers, Restraints, and Opportunities
- 11.1 Overview
- 11.2 Drivers
- 11.3 Restraints
- 11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 ANI Technologies Pvt. Ltd. (OLA)
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 BlaBlaCar
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Bolt Technology OU
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Cabify
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Curb Mobility LLC
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Gett
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Grab Holdings Inc
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 HyreCar Inc
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Lyft, Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Tomtom International B.V.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Uber Technologies Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.1 ANI Technologies Pvt. Ltd. (OLA)
List of Figures
- Figure 1: Global: Ride Sharing Market: Major Drivers and Challenges
- Figure 2: Global: Ride Sharing Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Ride Sharing Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Ride Sharing Market: Breakup by Service Type (in %), 2023
- Figure 5: Global: Ride Sharing Market: Breakup by Booking Mode (in %), 2023
- Figure 6: Global: Ride Sharing Market: Breakup by Membership Type (in %), 2023
- Figure 7: Global: Ride Sharing Market: Breakup by Commute Type (in %), 2023
- Figure 8: Global: Ride Sharing Market: Breakup by Region (in %), 2023
- Figure 9: Global: Ride Sharing (E-Hailing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Ride Sharing (E-Hailing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Ride Sharing (Car Sharing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Ride Sharing (Car Sharing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Ride Sharing (Station-Based Mobility) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Ride Sharing (Station-Based Mobility) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Ride Sharing (Car Rental) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Ride Sharing (Car Rental) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Ride Sharing (App-based) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Ride Sharing (App-based) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Ride Sharing (Web-based) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Ride Sharing (Web-based) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Ride Sharing (Fixed Ridesharing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Ride Sharing (Fixed Ridesharing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Ride Sharing (Dynamic Ridesharing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Ride Sharing (Dynamic Ridesharing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Global: Ride Sharing (Corporate Ridesharing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Global: Ride Sharing (Corporate Ridesharing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Global: Ride Sharing (ICE Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Global: Ride Sharing (ICE Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Global: Ride Sharing (Electric Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Global: Ride Sharing (Electric Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: Global: Ride Sharing (CNG/LPG Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: Global: Ride Sharing (CNG/LPG Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Global: Ride Sharing (Micro Mobility Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Global: Ride Sharing (Micro Mobility Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: North America: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: North America: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: United States: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: United States: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Canada: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Canada: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Asia-Pacific: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Asia-Pacific: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: China: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: China: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Japan: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Japan: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: India: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: India: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: South Korea: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: South Korea: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Australia: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Australia: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Indonesia: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Indonesia: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Others: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Others: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Europe: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Europe: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Germany: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Germany: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: France: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: France: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: United Kingdom: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: United Kingdom: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Italy: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Italy: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Spain: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Spain: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Russia: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Russia: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Others: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Others: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Latin America: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 74: Latin America: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Brazil: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 76: Brazil: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 77: Mexico: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 78: Mexico: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 79: Others: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 80: Others: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 81: Middle East and Africa: Ride Sharing Market: Sales Value (in Million US$), 2018 & 2023
- Figure 82: Middle East and Africa: Ride Sharing Market: Breakup by Country (in %), 2023
- Figure 83: Middle East and Africa: Ride Sharing Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 84: Global: Ride Sharing Industry: Drivers, Restraints, and Opportunities
- Figure 85: Global: Ride Sharing Industry: Value Chain Analysis
- Figure 86: Global: Ride Sharing Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Ride Sharing Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Ride Sharing Market Forecast: Breakup by Service Type (in Million US$), 2024-2032
- Table 3: Global: Ride Sharing Market Forecast: Breakup by Booking Mode (in Million US$), 2024-2032
- Table 4: Global: Ride Sharing Market Forecast: Breakup by Membership Type (in Million US$), 2024-2032
- Table 5: Global: Ride Sharing Market Forecast: Breakup by Commute Type (in Million US$), 2024-2032
- Table 6: Global: Ride Sharing Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Global: Ride Sharing Market: Competitive Structure
- Table 8: Global: Ride Sharing Market: Key Players
