Press release
Global On-demand Transportation Market Report 2024: CAGR 21.4% Growth, Key Drivers and Trends
On-demand transportation Global Market Report 2025
The Global On-demand Transportation Market is poised for exponential growth from 2024 to 2029, driven by advancements in GPS navigation, electrification, autonomous driving, and artificial intelligence.
What Is The Projected Market Size Of The Global On-Demand Transportation Global Market Report 2024 And Its Growth Rate?
• The market size of on-demand transportation was $195.08 billion in 2024, and is expected to grow to $236.86 billion in 2025 with a CAGR of 21.4%.
• This growth is attributed to the proliferation of smartphones, urbanization, changing consumer preferences for convenience, growth in gig economy and advances in GPS.
• Looking beyond 2025, the market is predicted to expand exponentially to reach $506.99 billion by 2029 at a CAGR of 21.0%, driven by adoption of electric and autonomous cars, multimodal transportation options, and eco-friendly transportation solutions.
What Is Driving The Growth In The On-demand Transportation Global Market Report 2024?
The growth of the on-demand transportation market is being propelled by an increase in tourism and a rise in the working-class population. The ease and convenience of booking journeys at convenient times, coupled with pickup from agreed locations, makes on-demand transportation popular among these demographics. For instance, UNWTO estimated that 975 million international tourists traveled between January and September 2023, an increase of 38% compared to 2022. This growth in tourism is consequently driving the growth of the on-demand transportation market.
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Who Are the Key Players Driving On-demand Transportation Global Market Report 2024 Growth?
• Avis Budget Group Inc.
• BlaBlaCar SA
• Bolt Financial Inc.
• Cabify SA
• Careem Inc.
• Curb Mobility Pvt Ltd.
• Daimler AG
• Europcar Mobility Group SA
• Ford Motor Company
• General Motor Company
• Grab Holdings Inc.
• Hyundai Motor Company
• Lyft Inc.
• Didi Chuxing Technology Co
• Enterprise Holdings Inc.
• Jugnoo
What Are The Key Trends In The On-demand Transportation Global Market Report 2024?
• Surge in adoption of electric and autonomous vehicles
• Integration of multimodal transportation options
• Rising demand for eco-friendly and sustainable transportation solutions
• Growth of ride-hailing services
• Increase in fuel prices
• Use of artificial intelligence for predictive demand analysis and route optimization
• Emphasis on contactless and cashless payment options in on-demand platforms
• Customized on-demand services for niche markets
• Real-time communication and feedback features
What Are The Segments Of The Global On-demand Transportation Global Market Report 2024?
• By Type: Ride-Sharing, Vehicle Rental Or Leasing, Ride Sourcing
• By Vehicle: Four-Wheeler, Micro Mobility
• By Application: Passenger Transportation, Goods Transportation
Which Region Leads The On-demand Transportation Global Market Report 2024?
Asia-Pacific led the on-demand transportation market in 2024, followed by North America which is predicted to be the fastest-growing region in the forecast period. The report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The On-demand Transportation Global Market Report 2024 Global Market Report?
- Market Size Analysis: Analyze the On-demand transportation Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the On-demand transportation Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall On-demand transportation Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the On-demand transportation Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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