Cost-Efficiency of Shared Mobility Services Driving Indian Shared Mobility Services

In 2018, the Indian shared mobility market generated a revenue of $630.7 million and is expected to reach a value of $3,466.7 million in 2024, advancing at a 27.6% CAGR during the forecast period (2019-2024). The market is growing due to the surging urban road congestion, emergence of shared mobility as a cost-effective and convenient mobility option, and government initiatives facilitating the adoption of shared mobility services. The integration of different transport services, such as carsharing, rise sharing, and two-wheeler sharing, in one single digital mobility offer is referred to as shared mobility.

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In terms of service type, the Indian shared mobility market is categorized into bus/shuttle service, two-wheeler sharing, carsharing, ride sharing, car rental, and ride hailing. Among these, the ride hailing category dominated the market during the historical period (2014-2018) and is projected to account for the major share of the market during the forecast period as well, primarily because several automotive original equipment manufacturers are entering into partnerships with ride hailing service providers. The fastest growth is predicted to be witnessed by the two-wheeler sharing category during the forecast period.

A major driving factor of the Indian shared mobility market is the increasing government initiatives for encouraging the adoption of shared mobility services. The rising concern regarding the environment and rapidly increasing traffic in the country are compelling the government to come up with effective solutions for dealing with these problems. Attributed to these factors, the government of India is formulating regulatory policies and offering financial benefits for encouraging the adoption shared mobility services. For example, under the FAME II scheme, the government has designed incentive plans for the purchase of electric vehicles for commercial usage.

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Some of the other major players operating in the Indian shared mobility market include Zoomcar India Pvt. Ltd., Drivezy India Travels Pvt. Ltd., Carzonrent India Pvt. Ltd., Vogo Automotive Pvt. Ltd., WickedRide Adventure Services Pvt. Ltd., Royalbison Autorentals India Pvt. Ltd., Roppen Transportation Services Pvt. Ltd., Bashar Technologies Pvt. Ltd., Meru Mobility Tech Pvt. Ltd., Bycyshare Technologies Pvt. Ltd., Yulu Bikes Pvt. Ltd., Motocruizer Technologies India Pvt. Ltd., Comuto SA, and Mega Cabs Pvt. Ltd.

India Shared Mobility Market Segmentation

Market Segmentation by Service Type

Two-Wheeler Sharing
Ride Sharing
Ride Hailing
Car Rental
Carsharing
Bus/Shuttle Service
Market Segmentation by Vehicle Type

Two-Wheelers
Cars
Buses/Vans
Market Segmentation by Commuting Pattern

Daily Commuting
Last-Mile Connectivity
Occasional Commuting
Others
Market Segmentation by End Use

Personal
Business
Market Segmentation by Region

East
West
North
South

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