On-Demand Transportation Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Rising Internet Penetration and Increased Traffic Issues to Boost the On-Demand Transportation Market

The on-demand transportation marketworldwide is expected to grow with a CAGR of 16.30% during the forecast period from 2021 to 2029. The on-demand transportation market is expected to witness tremendous growth in the near future due to the rise in smartphones and internet penetration. On account of increased traffic problems, insufficient parking spaces and an increase in the utilization of cab/taxi sharing services is driving the market. Market players are introducing new expansion strategies such as new product launch and merger & acquisitions to gain the market share. For example, in 2018, General Motors acquired one self-driving car services startup Cruise and launched a car-sharing platform Maven. Considering these factors, we are expecting high growth in the on-demand transportation market.

Passenger Cars to Continue as the Market Leader

Passenger cars hold the highest market share in the on-demand transportation industry with more than 50% of the market revenue, as of 2020. Conventionally, cabs have been among the most commonly used modes of public transport. With the digitization of the same service, people can book their cabs online at much higher convenience, thereby driving the penetration of on-demand transportation. In addition, market players offer several modes of cab services including sharing, long distance and monthly pass across wide range of vehicles. Thus, the passenger cars segment will continue as the market leader in the on-demand transportation market.

Asia Pacific to Emerge as the Market Leader in the Forecast Period

In 2020, North America led the market with more than 30% market share followed by the Asia Pacific. Due to the rise in internet penetration in the Asia Pacific, we are expecting a boom in the on-demand transportation market in the Asia Pacific. Additionally, growing smartphone & internet usage coupled with easy availability of transportation through apps is likely to drive the Asia Pacific market. Due to the increase in urban population and growing traffic congestion, Asia Pacific is expected to grow with a rapid pace.

Some of the prominent players operating in the on-demand transportation market include Uber Technologies Inc., Lyft, Inc., ANI Technologies Pvt. Ltd. (OLA), Grab Holdings Inc., Wingz, Inc, Careem Inc., Comuto SA (BlaBlaCar), Bolt (Formerly taxify), Gett, Inc., Beijing Xiaoju Technology Co, Ltd.(Didi Chuxing), Curb Mobility, Cabify, Europcar Mobility Group, The Hertz Corporation, Avis Budget Group, Inc., Bayerische Motoren Werke AG (BMW), Daimler AG, Transdev, General Motors Company, Ford Motor Company, Robert Bosch GmbH, Hyundai Motor Company, Enterprise Holdings, Inc. , Meru Cabs, Jugnoo, Zoomcar, Revv car, Myles and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Report Scope by Segments

The on-demand transportation market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global on-demand transportation market based on vehicle class, service type and geography. Key segments covered in the report are as follows:

Vehicle Class (2019-2029; US$ Bn)
- Passenger Cars
- Commercial Vehicles
- Micro-mobility

Service Type (2019-2029; US$ Bn)
- E-Hailing
- Car Rental
- Car Sharing
- Bus Sharing

Geography Segment (2019-2029; US$ Bn)
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report
- What was the market size of on-demand transportation in 2020 and forecast up to 2029?
- Which is the largest regional market for on-demand transportation?
- What are the major trends followed in overall on-demand transportation across different regions?
- What are the key market trends and high-growth opportunities observed in the on-demand transportation market?
- What are the drivers of the on-demand transportation market?
- Who are the key on-demand transportation companies leading the market?
- What are the key strategies adopted by the leading on-demand transportation companies in the market?

Unique data points of this report
- Statistics on on-demand transportation worldwide
- Recent trends across different regions in terms of adoption of on-demand transportation
- Notable developments going on in the on-demand transportation industry
- Attractive investment proposition for on-demand transportation segment as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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