Ride-sharing software is a technology platform or software application that consists of the booking, management, and coordination of shared rides among multiple passengers. This software connects customers with available rides and facilitates booking and payment operations. In addition, the ride sharing software Includes numerous additional features such as ride tracking, driver ratings & reviews, real-time map services, which further provide a seamless ride sharing experience to the consumers. Moreover, ride sharing software provides cost-effective solutions to consumers, as most individuals do not afford to own the vehicle, which encourages people to embrace ride sharing software.
Furthermore, the demand for ride-sharing software is attributed to several driving factors such as the Increase in popularity of smartphones and smart mobile applications, which significantly contribute to the growth opportunities of ride-sharing software or platform. In addition, the live tracking feature in the ride-sharing app such as Uber provides the customer with an estimated time of arrival (ETA) of the cab which they’ve booked. It also allows users to share their travel location with friends or families during travel. This enhances the safety and trust of the users. Moreover, the widespread usage of smartphones enables easy access to ride-sharing applications, which further allows users to conveniently schedule and track rides with a few taps on the screens. Moreover, the surge in need for convenient and cost-effective transportation options has fueled the demand for ride-sharing software in this industry.
Moreover, the numerous advantages offered by ride sharing software create lucrative opportunities for the global market to minimize the impact of security Incidents and improve payment quality, as this technology enhances security and transparency, which positively impacts the growth of the market in the forecast period. In addition, the growing trend of technological advancements and the surge in usage of internet-enabled devices are major factors driving the market growth. Moreover, the growing demand to strengthen digital travel payment solutions and mobile wallets in several industries is anticipated to accelerate the market demand and hence, drive global market growth. Furthermore, there is the need for an effective and durable cab system, which creates opportunities for ride sharing software solutions to minimize the impact of convenience in traditional cab solutions and improve the quality of the transport. Moreover, with the Increasing reliance on digital technologies, organizations aim to provide a seamless and secure user experience, which in turn, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
In addition, the ride sharing software market is witnessing significant growth, owing to several key factors Including easy accessibility, as passengers can book a ride from anywhere on the globe without waiting in line or waving at them. Whereas traditional transport mediums are often inadequate in processing fast booking systems, enabling ride sharing software solutions necessary to address the evolving trend. This enhances the customer experience and makes the customers more comfortable to choose the affordable ride of their preference., hence, are anticipated to drive global market growth.
The Increase in penetration of smartphones & the internet and the surge in demand for convenient transportation are expected to positively impact the growth of the market in the future. In addition, the Increase in expenses of vehicle ownership propels global market growth. However, safety and security concerns are expected to hamper market growth. In addition, varying transport policies of different countries can deter small businesses from adopting this technology. Furthermore, the rise in integration of autonomous ride sharing creates numerous opportunities for ride sharing software to optimize the ride experience, reduce cost, and improve the quality of rides. Moreover, the integration of advanced mobility services is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The ride sharing software market is segmented into type, service type, and region. By type, it is bifurcated into web-based and app-based. By service type, it is divided into e-hailing, car sharing, and car rental. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the ride sharing software market are BlaBlaCar, Didi Chuxing Technology Co, Gett, HyreCar Inc, Lyft, Inc., Ola Cabs, Uber Technologies, Inc., Via Transportation, Inc., Wingz and Zimride Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the ride sharing software market globally.
Furthermore, the demand for ride-sharing software is attributed to several driving factors such as the Increase in popularity of smartphones and smart mobile applications, which significantly contribute to the growth opportunities of ride-sharing software or platform. In addition, the live tracking feature in the ride-sharing app such as Uber provides the customer with an estimated time of arrival (ETA) of the cab which they’ve booked. It also allows users to share their travel location with friends or families during travel. This enhances the safety and trust of the users. Moreover, the widespread usage of smartphones enables easy access to ride-sharing applications, which further allows users to conveniently schedule and track rides with a few taps on the screens. Moreover, the surge in need for convenient and cost-effective transportation options has fueled the demand for ride-sharing software in this industry.
Moreover, the numerous advantages offered by ride sharing software create lucrative opportunities for the global market to minimize the impact of security Incidents and improve payment quality, as this technology enhances security and transparency, which positively impacts the growth of the market in the forecast period. In addition, the growing trend of technological advancements and the surge in usage of internet-enabled devices are major factors driving the market growth. Moreover, the growing demand to strengthen digital travel payment solutions and mobile wallets in several industries is anticipated to accelerate the market demand and hence, drive global market growth. Furthermore, there is the need for an effective and durable cab system, which creates opportunities for ride sharing software solutions to minimize the impact of convenience in traditional cab solutions and improve the quality of the transport. Moreover, with the Increasing reliance on digital technologies, organizations aim to provide a seamless and secure user experience, which in turn, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
In addition, the ride sharing software market is witnessing significant growth, owing to several key factors Including easy accessibility, as passengers can book a ride from anywhere on the globe without waiting in line or waving at them. Whereas traditional transport mediums are often inadequate in processing fast booking systems, enabling ride sharing software solutions necessary to address the evolving trend. This enhances the customer experience and makes the customers more comfortable to choose the affordable ride of their preference., hence, are anticipated to drive global market growth.
The Increase in penetration of smartphones & the internet and the surge in demand for convenient transportation are expected to positively impact the growth of the market in the future. In addition, the Increase in expenses of vehicle ownership propels global market growth. However, safety and security concerns are expected to hamper market growth. In addition, varying transport policies of different countries can deter small businesses from adopting this technology. Furthermore, the rise in integration of autonomous ride sharing creates numerous opportunities for ride sharing software to optimize the ride experience, reduce cost, and improve the quality of rides. Moreover, the integration of advanced mobility services is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The ride sharing software market is segmented into type, service type, and region. By type, it is bifurcated into web-based and app-based. By service type, it is divided into e-hailing, car sharing, and car rental. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the ride sharing software market are BlaBlaCar, Didi Chuxing Technology Co, Gett, HyreCar Inc, Lyft, Inc., Ola Cabs, Uber Technologies, Inc., Via Transportation, Inc., Wingz and Zimride Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the ride sharing software market globally.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the ride sharing software market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on ride sharing software market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the ride sharing software market from 2022 to 2032 is provided to determine the market potential.
Key Market Segments
By Type
- App-based
- Web-based
By Service Type
- E-Hailing
- Car Sharing
- Car Rental
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- BlaBlaCar
- Didi Chuxing Technology Co
- Gett
- HyreCar Inc.
- Lyft, Inc.
- Ola Cabs
- Uber Technologies, Inc.
- Via Transportation, Inc.
- Wingz
- Zimride Inc. (Enterprise Holdings)
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RIDE SHARING SOFTWARE MARKET, BY TYPE
CHAPTER 5: RIDE SHARING SOFTWARE MARKET, BY SERVICE TYPE
CHAPTER 6: RIDE SHARING SOFTWARE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Ride Sharing Software Market,' The ride sharing software market was valued at $7 billion in 2022, and is estimated to reach $34.2 billion by 2032, growing at a CAGR of 17.6% from 2023 to 2032.The Ride Sharing Software Market is likely to experience a significant growth rate of 17.6% from 2023-2032, owing to increasing market demand from E-Hailing services.
Ride-sharing software enables users to book a ride service with a ride-sharing facility. It is a convenient mode of transportation wherein individuals wait at their pick-up point and reach their destination along with other co-passengers. In addition, the app-based ride sharing is a smart digital mobility option to reduce traffic congestion and greenhouse gas emissions. Such software offers numerous advantages such as pocket-friendly, eco-friendly, and public-friendly. Several countries have made efforts to implement ride-sharing options through a software platform to curb carbon emissions. Such software is developed to operate either on mobile phones or personal computers.
Furthermore, the numerous advantages offered by ride sharing software create lucrative opportunities for the global market to minimize the impact of security incidents and improve payment quality, as this technology enhances security and transparency, which positively impacts the growth of the market in the forecast period. In addition, the growing trend of technological advancements and the surge in usage of internet-enabled devices are major factors driving the market growth. Moreover, the growing demand to strengthen digital travel payment solutions and mobile wallets in several industries is anticipated to accelerate the market demand and hence, drive global market growth. Furthermore, there is the need for an effective and durable cab system, which creates opportunities for ride sharing software solutions to minimize the impact of convenience in traditional cab solutions and improve the quality of the transport. Moreover, with the increasing reliance on digital technologies, organizations aim to provide a seamless and secure user experience, which in turn, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The increase in penetration of smartphones & the internet and the surge in demand for convenient transportation are expected to positively impact the growth of the market in the future. In addition, the increase in expenses of vehicle ownership propels global market growth. However, safety and security concerns are expected to hamper market growth. In addition, varying transport policies of different countries can deter small businesses from adopting this technology. Furthermore, the rise in integration of autonomous ride sharing creates numerous opportunities for ride sharing software to optimize the ride experience, reduce cost, and improve the quality of rides. Moreover, the integration of advanced mobility services is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The ride sharing software market is segmented into type, service type, and region. By type, it is bifurcated into web-based and app-based. By service type, it is divided into e-hailing, car sharing, and car rental. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the ride sharing software market are BlaBlaCar, Didi Chuxing Technology Co, Gett, HyreCar Inc, Lyft, Inc., Ola Cabs, Uber Technologies, Inc., Via Transportation, Inc., Wingz and Zimride Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the ride sharing software market globally. For instance, in May 2023, Uber launched Uber Green in India, it is a global flagship electric vehicle program that allows passengers to request zero-emission all-electric vehicles through the app. Similarly, in June 2021, Rapido introduced the Ride to Vaccinate initiative, the ride sharing platform that provides free Rapido rides to the nearest Covid-19 center. In addition, in July 2021, EVgo partnered with Lyft, and launched a new Electric Vehicle (EV) charging discount program for rideshare drivers. This alliance with EVgo is an important step in addressing the second barrier and part of a suite of new offerings to support drivers in switching to an EV on Lyft to further accelerate their sustainable initiatives.
Key Market Insights
- By type, the app-based segment was the highest revenue contributor to the market in 2022, and is estimated to reach $22970 million by 2032, with a CAGR of 16.4%. However, the web-based segment is estimated to be the fastest-growing segment with a CAGR of 20.5% during the forecast period.
- By service type, the e-hailing segment dominated the global market share in 2022, and is estimated to reach $19030.93 million by 2032, with a CAGR of 15.2%, However, the car sharing segment is expected to be the fastest growing segment with a CAGR of 22.3% during the forecast period.
- Region wise, North America was the highest revenue contributor, accounting for $2456.88 million in 2022 and is estimated to reach $9428.74 million by 2032, with a CAGR of 14.7.
Companies Mentioned
- BlaBlaCar
- Didi Chuxing Technology Co
- Gett
- HyreCar Inc.
- Lyft, Inc.
- Ola Cabs
- Uber Technologies, Inc.
- Via Transportation, Inc.
- Wingz
- Zimride Inc. (Enterprise Holdings)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
