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On-Demand Transportation Market Size is Forecasted to Reach US$ 701.1 Billion by 2030 Says Precedence Research

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The global on-demand transportation market was estimated at US$ 120.85 billion in 2020 and is expected to hit US$ 701.1 billion by 2030, registering a CAGR of 19.25% from 2021 to 2030, as per reports by market research and consulting organisation Precedence Research.

The report contains 150+ pages with detailed analysis. The report provides an in-depth analysis of the market size, share, emerging and current trends, future estimations, and key players.

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On-Demand transportation allows passengers to plan their trip at a convenient time (during service operating hours) and be picked up at an agreed-upon location. On-demand transportation is becoming more popular around the world. E-hailing, automobile sharing, car renting, and station-based mobility are providing a productive environment for the transportation business to develop.

Competition Landscape

In the final section of the research report, Precedence Research provided the global on-demand transportation market structure and a detailed competition landscape to provide a dashboard view of key players operating in the on-demand transportation market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the on-demand transportation market include:

  • International Business Machines Corporation (IBM)
  • BMW Group
  • Daimler Group
  • Ford Motor Company
  • General Motor Company
  • Gett, Inc.
  • Robert Bosch GmbH.
  • NI Technologies Pvt. Ltd. (OLA)
  • Lyft Inc.
  • Grab
  • Careem
  • Uber Technologies Inc.
  • Taxify OÜ
  • BlaBlaCar
  • Wingz Inc.
  • Curb Mobility

Crucial factors accountable for market growth are:

  • Increased traffic congestion as a result of an increase in the number of automobiles
  • Increased tourist and working-class population, as well as a growing trend of road trips
  • The increasing popularity of smartphones
  • Rising gasoline prices, fewer parking spots, and exorbitant automotive prices

Report Highlights

  • Car rental was expected to be the largest segment in terms of market share among various on-demand transportation services in 2017. However, demand for other services such as e-hailing and car sharing is expected to rise significantly over the forecast period.
  • The four-wheeler segment provides advantages such as reduced noise pollution and a more comfortable driving experience, which is critical in developed countries. Rising consumer disposable income in countries such as India and China are also helping to drive growth. Thus, the four-wheeler segment has the major share in the on-demand transportation market.

Market Dynamics

Driver – The rising sales of smartphones

The rising number of linked vehicles has improved acceptability of on-demand transportation services such as car sharing, e-hailing, station-based mobility, and automobile renting. With the use of mobile applications, consumers may alter, pre-book, or cancel their cab arrangements. Furthermore, advancements in IT infrastructure and a growth in the use of cab or taxi sharing services by individuals are expected to fuel the introduction of on-demand transportations that save fuel and time.

In 2020, smartphone penetration in India reached 54 percent, with a projected increase to 96 percent by 2040, more than doubling from the previous fiscal year, when just 22 percent of mobile users used a smartphone. In 2020, the total number of smartphone shipments in India is expected to be approximately 149.7 million. In 2019, the United Kingdom had the highest smartphone penetration rate in the world, at 82.9%. Increased smartphone sales will have a beneficial influence on the on-road transportation sector throughout the projection period.

Restraint – The increased passenger safety

In recent years, passenger safety has emerged as one of the most important limitations on the expansion of the on-demand transportation industry, with increased passenger safety concerns having a significant influence on market growth. Governments are worried about such incidents and may enact rigorous restrictions to ensure the safety of passengers and drivers. The Department of Transport’s (DoT) On-demand Transport (OdT) business section monitors the passenger transportation industry to ensure public safety requirements are fulfilled. In September 2021, an Indian Uber driver was arrested for raping a female passenger. As a result of this occurrence, the government is implementing passenger safety steps, which will limit market expansion.

Opportunities – Development of AI for transportation

The transportation industry is being transformed by artificial intelligence. It is already being used in a variety of transportation industries, from assisting automobiles to operating autonomously to smoothing traffic flows. It can help to make all means of transportation safer, cleaner, smarter, and more efficient, in addition to making people’s lives simpler. Autonomous transportation powered by artificial intelligence, for example, might assist to eliminate the human mistakes that cause many traffic accidents. The EU is taking efforts to adapt its regulatory framework to these changes, so that it can foster innovation while also ensuring basic values and rights are respected.

General artificial intelligence strategies and guidelines that support the technologies that enable the application of artificial intelligence in transportation are among the measures that have already been implemented. Furthermore, the EU gives financial assistance, particularly for research. For example, in February 2019, the European Parliament passed an own-initiative resolution on “a comprehensive European industrial strategy on artificial intelligence and robotics,” which includes a section on transportation. These aspects provide potential for industry participants in the on-demand transportation business.

Challenges – Poor connectivity in some locations

The well-known issue that many of the world’s poorest people lack the means or equipment to log on, with only 31% of people in developing nations utilising the internet, compared to 77% in affluent ones. Still, Internet connection is a luxury for half of the world’s population, who does not have access to the Internet through a mobile device or fixed line broadband. The greatest access rates are seen in advanced economies such as the United States, France, Germany, the United Kingdom, and Canada. The proportion of Internet users in major emerging economies varies greatly, ranging from roughly two-thirds in Brazil and Mexico to about one-third in India.

Countries in Sub-Saharan Africa, followed by those in Asia’s growing and developing economies, have the lowest Internet connectivity while being world leaders in mobile money transactions. There is also a significant difference in Internet connectivity among organizations in Sub-Saharan Africa; only approximately 60% of businesses utilize email for business, compared to roughly 85% in Europe and Central Asia.

Recent Developments

  • In 2021, OLA, an Indian e-hailing startup, recently declared a strong desire to extend its operations in Australia and New Zealand.
  • For example, in 2015, BMW Group, Audi AG, and Daimler Group paid USD 3.1 billion for HERE, Nokia’s digital mapping and positioning company. The acquisition was made to improve the mapping capabilities of the BMW Group.
  • Ford Motor Company announced the formation of Ford Smart Mobility LLC, a new business intended to develop, construct, expand, and invest in innovative mobility services, in 2016.

Market Segmentation

By Service Type

  • E-Hailing
  • Car Sharing
  • Car Rental
  • Station-Based Mobility

By Vehicle Type

  • Four-Wheeler
  • Micro Mobility

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Why should you invest in this report?

If you are aiming to enter the global on-demand transportation market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for on-demand transportation are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on On-Demand Transportation Market 

5.1. COVID-19 Landscape: On-Demand Transportation Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global On-Demand Transportation Market, By Service

8.1. On-Demand Transportation Market, by Service Type, 2021-2030

8.1.1. E-Hailing

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Car Sharing

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Car Rental

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Station-Based Mobility

8.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global On-Demand Transportation Market, By Vehicle

9.1. On-Demand Transportation Market, by Vehicle, 2021-2030

9.1.1. Four-Wheeler

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Micro Mobility

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global On-Demand Transportation Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Service (2019-2030)

10.1.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Service (2019-2030)

10.2.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Service (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Service (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Service (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Service (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Service (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Service (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Service (2019-2030)

10.5.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Service (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Service (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Vehicle (2019-2030)

Chapter 11. Company Profiles

11.1. International Business Machines Corporation (IBM)

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. BMW Group

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Daimler Group

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Ford Motor Company

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. General Motor Company

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Gett, Inc.

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Robert Bosch GmbH.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. NI Technologies Pvt. Ltd. (OLA)

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Lyft Inc.

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Grab

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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