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Impact of COVID 19 on the Global Ride sharing Market

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  • March 2020
  • Region: Global
  • Orion Market Research Private Limited
  • ID: 5013560
Global Ride sharing Market Size, Share & Trends Analysis Report by Vehicle Type (Sedan & Hatchback, Utility Vehicle, and Buses & Coaches), Impact of COVID-19 on Global Automotive Industry, and Forecast 2019-2025.

The common feature of ride sharing services is the ability for a traveler to request a driver and vehicle through a smartphone app whereby the traveler’s location is provided to the driver through GPS. With the assistance of GPS technology, routing algorithms, digital maps, users are provided with real-time information about waiting times, therefore these features create the demand ride sharing services across the globe. The increasing adoption of smartphones embedded with GPS, linked with the availability of digital road maps through APIs, offered the essential supporting facilities such as navigation and tracking for ride sharing services. The factor in the global ride sharing market include the development of shared mobility services, such as Uber, Lyft, and Zipcar, are increasingly adopting in established transportation business patterns across the globe.

However, after the COVID-19 pandemic, social distancing and staying home is further expected to affect the ride sharing industry. AS most of the peoples are advised to stay at home to prevent the spread of the COVID-19, therefore, impact the use of cabs and taxis across the globe further affected the ride sharing industry. Various ride sharing providers and drivers are facing a loss of income as a result of reducing demand for ride shares during the COVID-19 quarantine period.

The global ride sharing industry report is segmented based on vehicle type including sedan & hatchback, utility vehicle, and buses & coaches. The outbreak of COVID-19 had an impact on these segments due to the social distancing and lockdown of workplaces and offices across the globe. Moreover, the ride sharing for sedan & hatchback cars has mostly affected the industry as these are mostly used for car sharing and car-hailing services. Ride-sharing companies have come up with different models of service offerings to cater to the requirements of various user groups, targeting high-end, mid-market and budget users separately. For instance, Uber, one of the largest ride-sharing platforms globally, offers premium services through its service offerings such as Uber Black, Black SUVs, and Uber Select.

The ride sharing industry in various regions such as North America, Europe, Asia-Pacific and the Rest of the world are impacted by the novel COVID-19 pandemic. The countries in which most of the cases recorded include Italy, Spain, France, and Germany in Europe and China in Asia-Pacific. The ride share industry in China is affected mainly due to the trend towards work from home and the lockdown of factories and workshops in the country. Key companies getting involved in the market include ANI Technologies Pvt. Ltd. (OLA), Uber Technologies Inc. DiDi Chuxing Technology Co., Ltd., Lyft, Inc., Comuto SA (BlaBlaCar), BYKEA Technologies Pvt. Ltd., Carma Technology Corp., and others. Uber Technologies serves customers across the globe provides applications for road transportation, navigation, ride sharing, and payment processing solutions. On 17 March 2020 Uber Technologies Inc. along with Lyft Inc. announced the suspension of shared-ride services due to COVID-19 pandemic across the globe. Therefore, these suspensions of ride sharing services further impact the revenue generation of the company that further affect market growth.

Research Methodology

The research team recently published a report addressing the impact of COVID-19 on the global ride sharing industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on the ride sharing industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include
  • Financial reports of companies involved in the market
  • Whitepapers, research-papers, and news blogs
  • Company websites and their product catalog
  • Government Organizations Reports
The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers
  • Comprehensive research methodology of the global ride sharing Industry.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the global ride sharing Industry.
  • Insights about market determinants that are stimulating the global ride sharing Industry.
  • Detailed and extensive market segments with regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.

Table of Contents

1. Report Summary
1.1. Research Methods and Tools
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Government support/bailout packages for the ride sharing industry
2.4. Supply & Demand Analysis
3. Industry Overview
3.1. Historical market growth estimation in ride sharing industry excluding COVID-19 pandemic effect
3.2. Deviations in the ride sharing industry growth rate due to COVID-19 pandemic
4. Verticals Affected Most
4.1. Sedan & Hatchback
4.2. Utility Vehicle
4.3. Buses & Coaches
5. Impact of COVID-19 on major economies
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. Japan
5.3.3. India
5.3.4. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ANI Technologies Pvt. Ltd. (OLA)
6.2. DiDi Chuxing Technology Co., Ltd.
6.3. Lyft, Inc.
6.4. Comuto SA (BlaBlaCar)
6.5. BYKEA Technologies Pvt. Ltd.
6.6. Carma Technology Corp.
6.7. Gett Group
6.8. Grab Holdings Inc.
6.9. Maxi Mobility Holding Co.
6.10. RideCharge, Inc.
6.11. Uber Technologies Inc.
6.12. Wingz, Inc.
6.13. ZoomCar India Pvt Ltd.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ANI Technologies Pvt. Ltd. (OLA)
  • DiDi Chuxing Technology Co., Ltd.
  • Lyft, Inc.
  • Comuto SA (BlaBlaCar)
  • BYKEA Technologies Pvt. Ltd.
  • Carma Technology Corp.
  • Gett Group
  • Grab Holdings Inc.
  • Maxi Mobility Holding Co.
  • RideCharge, Inc.
  • Uber Technologies Inc.
  • Wingz, Inc.
  • ZoomCar India Pvt Ltd.