Press release
On-demand Transportation Market To Cross US$ 376.0 Billion By 2027 | Growth Rate of 19.57%
On-demand Transportation Market
IMARC Group's latest report, titled "On-demand Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global on-demand transportation market reached a value of US$ 128.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 376.0 Billion by 2027, exhibiting a CAGR of 19.57% during 2022-2027.
What is On-demand Transportation and Uses ? :
On-demand transportation facilitates passengers in booking their journey in real-time. It relies on mobile applications and web platforms to connect customers with drivers and vehicles. It offers greater flexibility than traditional transportation options and allows passengers to choose vehicles and routes and modify their travel plans in real-time. It is also more affordable and facilitates services, such as promotions, discounts, and competitive pricing. Moreover, on-demand transportation service, such as E-hailing, car sharing, car rental, and station-based mobility, helps minimize the number of cars on the road, promote active transportation, and reduce greenhouse gas (GHG) emissions, thereby gaining immense traction across the globe.
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Who are the key Players Operating in the Industry ? :
The competitive landscape of the industry has also been examined along with the profiles of the key players being,
• ANI Technologies Pvt. Ltd
• Avis Budget Group Inc
• Bayerische Motoren Werke AG
• Daimler AG
• Ford Motor Company
• Gett Inc
• Grab Holdings Inc
• International Business Machine Corporation
• Lyft Inc
• Robert Bosch GmbH
• Toyota Motor Corporation
• Uber Technologies Inc
What are the Growth Prospects and Trends in the On-demand Transportation Industry ? :
At present, rapid digitization and increasing penetration of internet-based services represent one of the key factors positively influencing the market across the globe. In addition, a significant rise in traffic-related problems, inflating costs of fuel, and reduced parking spaces are catalyzing the demand for on-demand transportation worldwide.
Moreover, rising sales of smartphones and increasing demand for cab and taxi services by individuals are propelling the market growth worldwide. Apart from this, increasing reliance on advanced technologies, such as artificial intelligence (AI) and machine learning (ML) for efficiently coordinating and managing transportation systems is stimulating the growth of the market around the world.
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Key Market Segmentation:
Breakup by Service Type:
• E-Hailing
• Car Sharing
• Car Rental
• Station-Based Mobility
Breakup by Vehicle Type:
• Four-Wheeler
• Micro Mobility
Breakup by Application:
• Passenger Transportation
• Goods Transportation
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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