Ride Sharing Market by Type (Car Sharing, E-Hailing, and Car Rental); and Business Model (Business to Business (B2B), Business to Consumer (B2C), and Peer to Peer (P2P)): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 85.8 billion mark in 2022 and is expected to hit US$ 185.1 billion by 2030, recording a CAGR of 16.6% during the forecast period.

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Ride sharing market has been significantly growing due to the rising demand for bike pool and carpool services.

Several factors such as rising demand for carpool and bike pool services along with growing number of online booking channels will boost the growth of the ride sharing market. Further, the improvements in public transportation supportive government regulations for boosting transport services are some of the major factors driving the growth of the ride sharing market. In addition, the growing development in eco-friendly cab services, robo-taxis are expected to contribute to market growth. The car sharing segment is expected to hold the largest market share in the market. Further, e-hailing segment is also expected to gain traction during the forecasted year.

Within the report, the ride sharing market is segmented into type, business model, and geography. On the basis of type, the ride sharing market is segmented into car sharing, e-hailing, and car rental. By business model, the market is further segmented into Business to Business (B2B), Business to Consumer (B2C), and Peer to Peer (P2P). Geographically, the ride sharing market is subsegmented into North America, Europe, Asia Pacific, and Rest of the World.

The introduction of autonomous vehicles with innovative technologies is enhancing the growth of ride sharing market.

The introduction of autonomous vehicles with advanced technologies is estimated to boost the adoption of car sharing services and technologies, thereby, posing a lucrative opportunity for the ride sharing market. Stringent emission norms and rise in the demand for reducing exhaust gas emissions is expected to fuel the ride sharing market growth. In addition, the rising fuel prices is another key factor influencing people to look after ride sharing services. For example, in May 2021, DiDi Autonomous Driving, the self-driving technology division of Didi Chuxing and GAC Aion New Energy Automobile, a wholly-owned subsidiary of Guangzhou Automobile Group, reached a strategic partnership agreement on the development of fully self-driving new energy vehicles with the goal of mass production.

The increasing trend of micro-mobility is one of the major factors accelerating the ride sharing market growth.

Micro-mobility involves a variety of vehicles that can accommodate one or more people. In addition, people are seeking for shared mobility options to navigate city faster and avoiding mass transit which is expected to boost the market growth. As the traffic congestion in the metro cities is growing the ride sharing market is expected to significant growth in the coming years. Further, shared e-bikes, dockless bikes, and e-scooters are gaining traction in the market.

Recent strategic developments in ride sharing market

The ride sharing market has undergone several significant developments, and a few of these have been mentioned below:

• In December 2021, Lyft, Ford and Argo AI launched an autonomous rideshare service in Miami for delivering on a shared commitment to deploy Ford’s autonomous vehicles.
• In November 2021, Uber Technologies, Inc., introduced Uber One in the U.S., which is one membership that brings together rides and delivery to make every day more effortless for users with monthly and yearly subscriptions.

The ride sharing market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ANI Technologies Pvt. Ltd., BlaBlaCar, Carma Technology Corporation, DiDi (Beijing Xiaoju Technology Co, Ltd.), Gett, Inc., Grab, Lyft, Inc., Car2Go, Uber Technologies Inc., and Quick Ride are among the prominent players operating in the market.

Target audience for the report:

• Ride sharing companies
• Aftermarket services
• Car rental services
• E-hailing service providers
• Mobility service providers
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• Customers

Scope of the report:

In this report, the market has been segmented on the basis of:

• Vehicle Type
  • Car Sharing
  • E-Hailing
  • Car Rental
• Components
  • Business to Business (B2B)
  • Business to Consumer (B2C)
  • Peer to Peer (P2P)
• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • ANI Technologies Pvt. Ltd.
  • BlaBlaCar
  • Carma Technology Corporation
  • DiDi (Beijing Xiaoju Technology Co, Ltd.)
  • Gett, Inc.
  • Grab
  • Lyft, Inc.
  • Car2Go
  • Uber Technologies Inc.
  • Quick Ride