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.
Full
research report on on-demand transportation market analysis: https://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.
View more reports of this category by Grand View Research
at: https://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
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
·
Asia Pacific
o
China
o
Japan
o
Korea
·
Rest of the World (RoW)
Access Full
Press Release of this Report: https://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 headquart ered 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.
For more
information: https://www.grandviewresearch.com/
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