Press release
On-demand transportation Market to Grow at 20.8% CAGR, Reaching $502.37 Billion by 2029
On demand transportation Market
On-demand transportation Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, the market size of on-demand transportation has seen explosive growth. Projected figures indicate an increase from $195.08 billion in 2024 to $235.65 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 20.8%. Major reasons attributed to this trend are the expansion of smartphone and mobile application usage, surges in urbanization and city congestion, shifting consumer tendencies favoring convenience and adaptability, growth in the gig economy and freelance work, and advancements in GPS and navigation technology.
On-demand transportation Market Forecast: What Size Will It Reach By 2029?
Predictions indicate that the size of the on-demand transportation market will experience dramatic growth in the years to come, expanding to a projected $502.37 billion by 2029 at a compound annual growth rate (CAGR) of 20.8%. The forecast period's growth is largely due to a spike in the use of electric and autonomous vehicles, the integration of diverse transportation methods, an increased demand for green, sustainable forms of transportation, the popularity growth of ride-hailing services, and fuel price escalations. Looking ahead, the forecast period is expected to be shaped by several key trends, including the application of artificial intelligence for forecasting demand and streamlining routes, the creation of on-demand transportation options tailored to specific demographic groups, a focus on contact-free, cash-free payment alternatives on on-demand platforms, bespoke on-demand services for niche sectors and individualized requirements, and the inclusion of instantaneous communication and review mechanisms.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/on-demand-transportation-global-market-report
Which Key Market Drivers Will Shape On-demand transportation Industry Trends in 2025-2029?
The increase in tourism activity and the presence of a working-class demographic are expected to contribute to the expansion of the on-demand transportation market. This type of transportation supports tourists and the working population by offering flexible booking times and pick-up locations, making the process quicker and easier. Tourism, a socio-economic phenomenon, involves people traveling outside of their usual places for various reasons like personal, business, or professional objectives. Citing a report from the UNWTO (United Nations World Tourism Organization), a non-profit organization based in Spain, it was highlighted that in just the first nine months of 2023 about 975 million international tourists had traveled, marking a 38% surge when compared to the same period in 2022. Furthermore, there was a 22% rise in international tourist arrivals during the third quarter of 2023. Thus, the increasing numbers in both tourism and the working-class population have become key factors fuelling the growth of the on-demand transportation market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7482&type=smp
What Are the High-Growth Segments in the On-demand transportation Market?
The on-demand transportation market covered in this report is segmented -
1) By Type: Ride-Sharing, Vehicle Rental Or Leasing, Ride Sourcing
2) By Vehicle: Four-Wheeler, Micro Mobility
3) By Application: Passenger Transportation, Goods Transportation
Subsegments:
1) By Ride-Sharing: Carpooling Services, Shuttle Services, Luxury Ride-Sharing, Pooling Services
2) By Vehicle Rental Or Leasing: Short-Term Rentals, Long-Term Rentals, Peer-To-Peer Rentals, Corporate Rentals
3) By Ride Sourcing: E-Hailing Services, App-Based Booking Platforms, Taxi Dispatch Services, Limousine Services
Which Global Trends Are Driving On-demand transportation Market Expansion?
Major players in the on-demand transportation market are prioritizing the development of advanced technologies such as public transport trials, with the aim of enhancing service efficiency, user experiences, and accessibility. These trials are designed to test the feasibility of on-demand services as a practical and efficient alternative for public transport, which could potentially reshape transportation strategies in the region. For instance, in May 2024, Skånetrafiken, a public transportation organization based in Sweden and operating in the Skåne region, launched a new on-demand public transport trial. This innovative trial employs a flexible transit service enabling passengers to book rides through a mobile app, thus providing a personalized transportation option that adjusts according to real-time demand.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=7482&type=smp
Who Are the Fastest-Growing Companies in the On-demand transportation Industry?
Major companies operating in the on-demand transportation market include Avis Budget Group Inc., BlaBlaCar SA, Bolt Financial Inc., Cabify SA, Careem Inc., Curb Mobility Private 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, Uber Technologies Inc, Bird Global Inc., MOIA GmbH, ANI Technologies Pvt Ltd., PT Gojek, Bolt Mobility
What Is the Regional Outlook for the On-demand transportation Market by 2029?
Asia-Pacific was the largest region in the on-demand transportation market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the on-demand transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release On-demand transportation Market to Grow at 20.8% CAGR, Reaching $502.37 Billion by 2029 here
News-ID: 4256087 • Views: …
More Releases from The Business Research Company
Passenger Air Transport Market Analysis: $1124.83 Billion by 2029 With a CAGR of …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
Passenger Air Transport Market Value Projection: How Much Will the Market Size by 2025?
The market size of passenger air transport has seen robust growth in the past few years. The market is projected to expand from $820.18 billion in 2024 to $870.78 billion in 2025, showing a compound annual growth…
Tank Wagons Industry Set to Achieve $86.72 Billion Milestone by 2029 | Steady 4. …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Tank Wagons Market Size 2025?
The market size for tank wagons has been on a consistent rise over the past few years. The market is projected to expand from $69.33 billion in 2024 to $71.77 billion in 2025, displaying a compound annual growth rate…
Emerging Trends to Reshape the Veterinary Diagnostic Equipment Market: Revolutio …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Veterinary Diagnostic Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for veterinary diagnostic equipment has been experiencing robust growth in the past years. A rise from $1.39 billion in 2024 to $1.48 billion in 2025 is expected, correlating to a Compound Annual…
Global Perishable Goods Transportation Market Worth $21.85 Billion by 2029, Grow …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Perishable Goods Transportation Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market for the transport of perishable goods has seen significant growth in the past few years. This market is set to increase from $14.6 billion in 2024 to $15.71 billion in 2025, reflecting a compound annual…
More Releases for Rental
Construction Equipment Rental (Ez Equipment Rental)
Whatever Your Project Needs, We Have The Solution
We understand purchasing heavy equipment isn't always the best option for a business, especially if you only need a machine temporarily.
EZ Equipment Rental LLC services industrial businesses with the equipment they need to operate, as well as homeowners and handymen tackling residential projects. Our inventory is stocked with bucket trucks, concrete equipment, generators, lighting, pumps, saws, jumping jacks, air compressors, pressure washers, earthmoving…
Machinery Rental Market Growth Drivers, and Competitive Landscape |United Rental …
The Machinery Rental Market Trends Overview 2024-2031:
A new Report by Worldwide Market Reports, titled "Machinery Rental Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031," offers a comprehensive analysis of the industry, which comprises insights on the Machinery Rental market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
This report has a complete table of contents, figures, tables, and charts, as well as…
Floorcare Equipment Rental Market Size in 2023 To 2029 | Hejny Rental, Herc Rent …
Floorcare Equipment Rental market report includes market-driving factors, major obstacles, and restraining factors impeding market growth. The report assists existing rental providers and start-ups in developing strategies to combat challenges and capitalize on lucrative opportunities to gain a foothold in the global market. Moreover, the report provides thorough information about prime end-users and annual forecast during an estimated period.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐎𝐂 ➡️ https://www.reportsnreports.com/contacts/requestsample.aspx?name=7629985
Descriptive company…
Future Growth: Equipment Rental Platform Market Sees Promising Growth in 2022 Un …
Global Equipment Rental Platform Market Research Report provides a key analysis of the market status of the Equipment Rental Platform with the best facts and figures, meaning, definition, SWOT analysis, expert opinions, and the latest developments across the globe. The report also calculates the market size, Sales, Price, Revenue, Gross Margin, Market Share, cost structure, and growth rate. The report considers the revenue generated from the sales of This Report…
Machinery Rental Market Growing Demand, Industry Growth And Scope with Outlook 2 …
Worldwide Market Reports provide important in-depth insights for the Machinery Rental Market In its recently released study. It includes global industry analysis, size, share, growth, trends, and forecast for 2022-2029. The market study for Machinery Rental has been created after careful consideration of the current trends in the industry. It provides a clear, fact-filled overview of the market definition. The research focuses on the market size for Machinery Rental, latest…
Forklift Rental Market 2019 by Top Vendor Analysis-Kanoo Machinery, Peax Equipme …
The report Forklift Rental Market 2019 Research highlights key dynamics of Global Forklift Rental Industry sector.
The report explicit the complete details covering product definition, product type, and application. The report covers helpful subtleties which are sorted dependent on generation region, major players, and item type which will give a simplified view on the business. The market report shows the competitive scenario of the major market players dependent…
