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On-demand transportation Market Analysis 2023-2032: Industry Growth, Global Trends, Future Outlook And Major Players | Avis Budget Group Inc., BlaBlaCar, Bayerische Motoren Werke Group AG, Bolt, Cabify
On-demand transportation Market
The Business Research Company's On-demand transportation Global Market Report 2023 identifies Growing tourism and a working-class population as the major driver for the On-demand transportation Market's growth in the forecast period. Tourism refers to a social and economic phenomenon that entails the movement of people to countries or places outside their usual environment for personal, business, or professional purposes. On-demand transportation helps tourism and the working-class population by booking their journey at a convenient time and being picked up from an agreed location that is quicker and easier to use.
The global on-demand transportation market size grew from $133.09 billion in 2022 to $161.79 billion in 2023 at a compound annual growth rate (CAGR) of 21.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The on-demand transportation market size is expected to grow to $341.7 billion in 2027 at a CAGR of 20.6%.
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Major competitors in the on-demand transportation market are Avis Budget Group Inc., BlaBlaCar, Bayerische Motoren Werke Group AG, Bolt, Cabify, Careem Inc., Curb Mobility, Daimler AG, Europcar Mobility Group, Ford Motor Company, General Motor Company, Gett Inc., Grab Holdings Inc., Hyundai Motor Company, International Business Machines Corporation (IBM), Lyft Inc., Didi Chuxing Technology Co, Enterprise Holdings Inc., and Jugnoo.
A key trend in the On-demand transportation Market includes advancement of automotive transportation. Major companies operating in on-road transportation are looking for advancements in transportation to improve the efficiency of existing transportation methods, while new inventions are poised to entirely reshape the way we move. The advent of self-driving cars such as the Google Car and Telsa is making the idea of autonomous cars a reality. For instance, in December 2021, Uber Technologies Inc., a US-based transportation company operating in the on-road transportation market, rolled out a new service that gives people the option to book an Uber ride through an official Uber Whatsapp chatbot. No longer are riders required to download or use the Uber app. The Whatsapp chat interface has been used to manage everything, including user registration, ride booking, and trip receipts.
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The On-demand transportation Market is segmented -
By Type: Ride-Sharing, Vehicle Rental/Leasing, Ride Sourcing
By Vehicle: Four-Wheeler, Micro Mobility
By Application: Passenger Transportation, Goods Transportation
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the On-demand transportation Market.
The Business Research Company's "Global On-demand transportation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The On-demand transportation Market Include:
1. Executive Summary
2. On-Demand Transportation Market Characteristics
3. On-Demand Transportation Market Trends And Strategies
4. On-Demand Transportation Market - Macro Economic Scenario
5. On-Demand Transportation Market Size And Growth
……
26. Africa On-Demand Transportation Market
27. On-Demand Transportation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The On-Demand Transportation Market
29. On-Demand Transportation Market Future Outlook and Potential Analysis
30. Appendix
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