Ride Sharing Market - How to Leverage on Automotive Industry During COVID-19 Crisis?

The global ride sharing market size is expected to reach USD 212.60 billion by 2026, exhibiting a CAGR of 2.0% during the forecast period. The lack of proper public transport systems in the developing nations is expected to entice key players to invest heavily in those regions, mentioned in a report, titled “Ride Sharing Market Size, Share & Industry Analysis, By Type (E-Hailing and Station Based), By Commute Type (Long Distance, Corporate, and Inter City), By Application Type (iOS, Android, and Others) and Regional Forecasts, 2019-2026” the market size stood at USD 182.12 billion in 2018.

The coronavirus crisis has caused massive damage to various sectors across the globe. We understand that this health disaster has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic. 

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/ride-sharing-market-103336

The report on the ride sharing market encompasses:

Exceptional insights on all the key developments
Comprehensive research
Key drivers and trends
Comprehensive information about key players

Market Driver:

Surge in Micro-mobility to Boost Growth

The growing demand for micro-mobility consisting of light vehicles such as mopeds, bikes, scooters, and longboards will have a tremendous impact on market growth. The growing knowledge about shared micro-mobility among commuters will simultaneously generate market revenue owing to the necessity for hassle-free ride options. Moreover, the growing traffic congestions in metro cities has led to numerous problems for daily commuters, besides offering vast opportunities for ride sharing.

For instance, Volkswagen Group has started the promotion of micro-mobility with the introduction of Cityskater and Streetmate electric scooters in Geneva as a part of their electric mobility plan. Similarly, Daimler and BMW have collaborated to offer scooters on rent in more than 6 cities in Europe. Also, the growing carbon emissions have created major concerns regarding the environmental change, which will consequently increase the requirement for ride sharing and boost market prospects in the forthcoming years.

Check Discounted Rates(Limited Period Offer) :

https://www.fortunebusinessinsights.com/enquiry/check-discount/ride-sharing-market-103336

Decline in Cab Services During Coronavirus

The automotive and travel industry has witnessed a steep downfall in the number of consumers and commuters due to the novel coronavirus. The new policies and norms imposed by the government to support social distancing, and hygiene protocols will pose a new challenge for the market.

The panic and fear among people regarding the spread of infection during traveling can further thwart the development of the market amid the COVID-19 pandemic. The avoidance of cab services during the pandemic will directly affect and create new obstacles for the expansion of the global market. 

Rising Development of Electric Cars to Aid Expansion in North America

The market in North America is expected to grow rapidly during the forecast period owing to the enormous demand for electric cars in countries such as Canada, the US, and Mexico. The increasing technological advancement in ride services will create vast scope for the market. For instance, Lyft, an American ride sharing company became the first the introduce green mode, which provides electric car ride share to its customers.

The ‘Green City Initiative’ will help to reduce the use of fossil fuels. Europe is expected to witness a substantial growth rate during the forecast period due to the flourishing automotive industry in the region. Also, the rising partnerships between service providers and the government to promote ride sharing services will aid the expansion of the market in Europe.

Key Development:

October 2018: Grab Taxi Holdings announced a strategic partnership with Microsoft Corporation to drive innovation and transform mobility and digital services by leveraging machine learning and artificial intelligence capabilities from Microsoft. 

 Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/ride-sharing-market-103336

The Report Lists the Main Companies in the Ride Sharing Market:

Uber Technologies Inc. (San Francisco, California, United States)
Didi Chuxing Technology Co. (Beijing, China)
Gett (Tel Aviv, Israel)
ANI Technologies Pvt. Ltd. (Bengaluru, India)
GrabTaxi Holdings Pte. Ltd. (Singapore)
Bolt Technology OÜ (Tallinn, Estonia)
Careem (Dubai, UAE)
Maxi Mobility S.L. (Madrid, Spain)
car2go NA, LLC (Stuttgart, Germany)

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US:+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.  

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

This release was published on openPR.