According to the latest report by IMARC Group, titled “On-demand Transportation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global on-demand transportation market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 17% during 2021-2026. On-demand transportation allows passengers to book their journey at a convenient time. It permits the option of modifying, pre-booking, or canceling reservations through mobile-based applications, enhancing the convenience for both commuters and service operators. It also helps in booking passenger and commercial vehicles, such as taxis, charter buses, cars, contracted buses, party buses, hired buses, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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On-demand Transportation Market Trends:
The increasing sales of smartphones across the globe, along with the inflating levels of digitalization and penetration of internet-based services, are primarily driving the on-demand transportation market. Furthermore, the rising levels of traffic-related problems, fuel prices, and cost of automobiles, coupled with the declining parking spaces, are also acting as major growth-inducing factors. Additionally, on-demand transportation is providing improved security and safety by using intelligent communication systems. In line with this, several innovations in the information and technology (IT) infrastructures, in confluence with the escalating demand for cab/taxi services, are further augmenting the global market. Moreover, the growing incorporation of artificial intelligence (AI) with these services to efficiently coordinate and manage transportation systems is also propelling the market growth. Apart from this, the expanding working-class population and the elevating levels of tourism activities across countries are expected to catalyze the on-demand transportation market over the forecasted period.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ANI Technologies Pvt. Ltd
- Avis Budget Group Inc.
- Bayerische Motoren Werke AG
- Daimler AG
- Ford Motor Company
- Gett Inc.
- Grab Holdings Inc.
- International Business Machine Corporation
- Lyft Inc.
- Robert Bosch GmbH
- Toyota Motor Corporation
- Uber Technologies Inc.
Breakup by Service Type:
- Car Sharing
- Car Rental
- Station-Based Mobility
Breakup by Vehicle Type:
- Micro Mobility
Breakup by Application:
- Passenger Transportation
- Goods Transportation
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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