[150+ Pages Research Report] According to the recent analysis research report; the global On-Demand Transportation Market in 2020 was approximately USD 74.24 Billion. The market is expected to grow at a CAGR of 23.4% and is anticipated to reach around USD 350.10 Billion by 2027. Top market players are Uber Technologies Inc., Lyft, Inc., ANI Technologies Pvt. Ltd. (OLA), Grab, BlaBlaCar, Wingz, Inc, Careem, Taxify OÜ, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), Curb Mobility.
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The transportation industry is undergoing significant transformation and people are adopting online booking applications in order to book a mode or means of transportation. Rising traffic congestion and high fuel cost are key factors driving the adoption of on-demand transportation services. Adoption of smartphone-based internet services is rising among consumers, primarily due to the increased usage of smartphones, ease of operating the app, faster internet connectivity, and presence of globally leading and local service providers coupled with lower charges of services. High cost of vehicle ownership is encouraging people to prefer on-demand transportation services owing to their cost effectiveness and availability as per the requirement. Furthermore, on-demand transportation is an effective solution for the rising traffic congestion, as higher vehicle ownership is likely to boost the number of vehicles on road. Less number of vehicles per 100 people, increase in number of daily commuters heading to workplaces and homes, increased burden on public transportation facilities due to rapid urbanization, and lack of proper connectivity of public transportation systems are fueling the demand for on-demand transportation services. On the other hand, public transportation facilities across the globe are failing to cater to the demand, due to increasing urbanization and rising population. Increase in number of working class people, rise in income opportunities, increase in per capita income coupled with increased tendency to travel for work and holidays are fueling the demand for on-demand transportation services across the globe.
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Countries from Europe and North America are well-developed and witness extensive adoption of advanced technologies and smartphones. Availability of faster internet connectivity and presence of globally leading service providers coupled with higher rate of adoption from consumers led the organized sector to hold a major share of the market in North America and Europe. However, in other regions, the unorganized segment accounts for major share of the market, in terms of revenue. Vehicles utilized in the unorganized sector are generally privately owned. These are considered as private services, as unorganized services cannot be availed through internet or smartphone-based apps.
In terms of type, ride sourcing is an emerging trend across the globe, in which consumers can book a ride via a smartphone-based app. Ease of operating the app, increased penetration of smartphone users, and availability of reliable internet services are fueling the demand for ride sourcing services. Ride sourcing services are flexible and hence, a large number of consumers traveling to workplaces, homes, to restaurants, and colleges prefer ride sourcing services. Thus, the demand for ride sourcing services is increasing owing to an increase in the working class population. Low rate of motorization, lack of adequate public transportation facility, crowded public transportation, and increase in fuel prices coupled with elimination of driving are fueling the ride sourcing segment of the global on-demand transportation market. The ride sourcing segment of the market is anticipated to expand at a CAGR of about 20% during the forecast period.
Based on business model, the P2P segment is a well-established segment and is expanding at a significant rate owing to the cost-effectiveness of the journey. Moreover, the expansion of the P2P segment can be a solution to reduce emission from vehicles, owing to sharing of the vehicle by multiple travelers on the same route. Furthermore, software solution providers or platform providing companies are increasing their own fleet size in order to boost revenue, which in turn is driving the B2C segment.
Entry level passenger cars are widely adopted for passenger transportation services. Maneuverability, requirement of smaller space, exemption from several taxes, higher fuel efficiency, and lower cost of entry level passenger cars make them suitable for passenger transportation services. Demand for SUVs is rising among consumers, which is attributed to consumer preference for longer journeys, larger space in the vehicle, and high comfort factor. Large number of passenger cars utilized for passenger transportation services are owned by individuals who are willing to share their vehicles. Such services are considered as peer to peer services. Large share of passenger cars has led the P2P segment to hold a major of the global on-demand transportation market. Legality of peer to peer services, increased per capita income of individuals coupled with willingness to share their vehicle, exemption from road taxes in several nations for passenger cars, and increasing demand for ride-sharing sourcing services rather than rental vehicles are fueling the passenger cars segment and subsequently, the P2P segment of the market.
Highlights of the Report:
Based on region, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Factors such as consumer behavior, rising disposable income, and fuel prices, and government initiatives play a pivotal role in influencing the growth across different regions. In 2020, Asia Pacific was the dominant regional segment followed by North America and Europe. The presence of major players coupled with their efforts to deliver efficient driverless shuttles across North America will continue to foster growth.
The market has observed high adoption in European countries such as France and Germany. A supportive regulatory framework is propelling the regional market. In Asia Pacific, increasing fuel prices, traffic congestions, and emission standards are supporting the growth of the market. By 2027, Asia Pacific is expected to rise to the forefront of the market.
COVID-19 Impact on On-Demand Transportation Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the On-Demand Transportation market.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the On-Demand Transportation market 2021 onwards. This trend will however continue through the course of the report’s assessment period
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Recent report on the On-Demand Transportation market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the On-Demand Transportation market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global On-Demand Transportation market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global On-Demand Transportation market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the On-Demand Transportation market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global On-Demand Transportation market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the On-Demand Transportation market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The On-Demand Transportation market is analyzed at both regional and country levels.
Some of the prominent players in the On-demand Transportation Market include: Uber Technologies Inc., Lyft, Inc., ANI Technologies Pvt. Ltd. (OLA), Grab, BlaBlaCar, Wingz, Inc, Careem, Taxify OÜ, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), Curb Mobility, Cabify, Europcar, The Hertz Corporation, Avis Budget Group, Inc., and Enterprise Holdings, Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- Global On-demand Transportation Market, by Type
- Vehicle Rental/Leasing
- Ride Sourcing
- Global On-demand Transportation Market, by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Busses & Coaches
- Micro mobility
- Global On-demand Transportation Market, by Business Model
- Global On-demand Transportation Market, by Autonomy Level
- Global On-demand Transportation Market, by Power Source
- Fuel Powered
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Global On-demand Transportation Market, by Application
- Passenger Transportation
- Goods Transportation
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global On-Demand Transportation market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global On-Demand Transportation market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the On-Demand Transportation market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
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 2021-2027 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.
TABLE OF CONTENT
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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