On-Demand Transportation Market Forecast Through 2032: Insights on Size, Trends, and Competitive Dynamics

On-demand transportation is an internet-based service that is used to book means of transportation in return for money, based on the time and distance it is used for. Various types of vehicles, such as passenger vehicles or commercial vehicles, can be booked or reserved through on-demand transportation services as per the requirement of the consumer. Moreover, the service is highly popular in urban areas, owing to high digitalization and high dependency on internet-based services.The global on-demand transportation services market is experiencing growth owing to the increase in price of vehicles, rise in fuel prices, reduction of parking spaces, and expensive maintenance of vehicles. Rise in advancements in IT infrastructure along with increase in investments boosts the market growth during the forecast period.

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Key Market Players

Curb Mobility,
Grab,
NI Technologies Pvt. Ltd. (OLA),
Uber Technologies Inc.,
BlaBlaCar,
Wingz Inc.,
Lyft Inc.,
Gett,
Careem,
Taxify OÜ

Some of the factors that boost the on-demand transportation market growth include increase in penetration of smartphones and the advancement of automotive transportation. However, vehicles utilized for rental and leasing services are owned by service-providing companies, thus the B2C segment accounts for a notable share of the market, in terms of revenuewhich is anticipated to hamper the growth of the market. Furthermore, there is a surge in demand for sharing services and micro-mobility, such as scooters, bikes, and other small vehicles.

Increase in penetration of smartphones

The number of connected vehicles have increased the acceptance of on-demand transportation services, for instance, car sharing, e-hailing, station-based mobility, and car rental. These services allow users to modify, pre-book, or cancel their cab reservations with the help of mobile applications. In addition, developments in IT infrastructure and increase in utilization of cab or taxi sharing services by individuals are projected to fuel the implementation of on-demand transportationas fuel-saving and reduced time consumption. Furthermore, on-demand transportation systems are anticipated to offer improved security and safety by incorporating intelligent communication systems; therefore,it is expected to fuel the market developmentduring the forecast period.

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Advancement of automotive transportation

On-demand transportation majorly utilizes artificial intelligence and information technology to efficiently coordinate and manage transportation systems. Artificial intelligence (AI) is a key technology for autonomous driving systems, as it is the only technology that enables reliable and real-time recognition of objects around the vehicle. Moreover, the function of an on-demand transportation network permits the traveling inhabitants to be aware of the traffic for improved coordination and to guarantee the safety of the vehicle drivers. Also, the increase in traffic congestions due to augment in the number of cars is expected to increase the development of on-demand transportation.

Key segments covered:

Type

E-Hailing
Car Sharing
Car Rental
Station-Based Mobility

Outlook

Four-Wheeler
Micro Mobility

Service

E-Hailing
Car Rental
Car Sharing

Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

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Key benefits of the report:

This study presents the analytical depiction of the on-demand transportation market industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the on-demand transportation market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the on-demand transportation market scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed on-demand transportation market analysis based on competitive intensity and how the competition will take shape in the coming years.

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