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Global Car Sharing Market is Expected to Witness Significant Growth in the Coming Years Due to High Cost of Personal Vehicle Ownership
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On the basis of business model, the car sharing market is segmented into one-way and round-trip. The one-way category is expected to dominate the car sharing market in terms of size, during the forecast period, owing to customer flexibility and its operational advantages over round-trip. Based on application, the market is r segmented into business and private. Business application is expected to hold a larger share in the market during the forecast period, owing to the rising on-demand mobility in corporate sector.
The car sharing market in North America has seen considerable growth in the last decade owing to high adoption of internet technology, and increased funding activities from various automakers and authorities. However, Asia-Pacific is expected to be the largest car sharing market during the forecast period owing to wide customer base, growing urbanization, growing middle-class population, and the growing preference of young generation for car sharing services.
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Major key players in the market are Car2go Ltd., Hertz24/7, Getaround Inc., Zipcar Inc., and RelayRides Inc. Other important players in the industry are Austin Car Share, Buffalo Car Share, Ithaca Car Share, Timecar, Car Share Vermont, City CarShare Inc., Uhaul Car Share, eGo CarShare, and HOURCAR.
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