Ride Sharing Market to Reach USD 126760 Million by 2028 at a CAGR of 19.8% | Valuates Reports

BANGALORE, India, Sept. 13, 2022 /PRNewswire/ -- The Ride Sharing Market is Segmented by Type (PC Terminal, Mobile Terminal), by Application (Age 18-24, Age 25-34, Age 35-44, Age 45-54, Age 55-64): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Travel Category.

The global Ride Sharing market size is projected to reach USD 126760 Million by 2028, from USD 38160 Million in 2021, at a CAGR of 19.8% during 2022-2028

Major factors driving the growth of Ride Sharing Industry are:

Ridesharing can lower transportation expenses, traffic congestion, and parking demand. These elements are anticipated to fuel the Ride Sharing market.

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TRENDS INFLUENCING THE GROWTH OF RIDE SHARING MARKET:

Less traffic on the roadways results from ridesharing because fewer cars are on the road. As more individuals use ridesharing services, road congestion could become less of a problem. The amount of everyday stress can be greatly reduced if you don't have to deal with traffic and you can save money on petrol and parking. Additionally, it reduces parking shortages. The amount of emissions in the air is greatly reduced via ridesharing. These factors are expected to drive the growth of the ride sharing market.

A vehicle's ownership involves a number of interrelated issues, including financing, gasoline, upkeep, registration/taxes, maintenance & repair, and depreciation. The price of owning a car goes up every year. The expense of fuel and maintenance has multiplied in recent years, and it is predicted that this trend will not reverse. Owning a car has turned out to be more of a liability than an asset as cities get more and more crowded with people and autos. This in turn is expected to increase the growth of Ride Sharing market

Internet and smartphone adoption is expanding, which will help the Ride Sharing market to grow. The growing use of smart devices like smartphones and smart wearables as well as the rising use of internet data have increased the demand for ride-sharing services globally and accelerated the expansion of the global ride-sharing market. The essential need for using ride-hailing services is internet connectivity. To access the information and navigation of the ride, passengers must download ride-providing programs on their cellphones over the internet.

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RIDE SHARING MARKET SHARE

The largest market is in the Asia Pacific, where it accounts for over 65% of sales, with around 18% and 12% of sales in North America and Europe, respectively. The region's rapid population expansion and growing urbanization have increased the demand for transportation. To cut down on traffic and travel time, the majority of the region's nations are refocusing on smart personal mobility.

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Key Companies:

• Uber
• Lyft
• Fasten
• Haxi
• Via
• Didi Chuxing
• Ola Cabs
• Grab
• Go-Jek
• BlaBlaCar
• myTaxi
• Dida Chuxing.

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SIMILAR REPORTS:

-  The global Car-Sharing market size is projected to reach USD 9193.8 Million by 2028, from USD  2932 Million in 2021, at a CAGR of 17.4% during 2022-2028.

-  The globally connected car market size was valued at USD 63.03 billion in 2019 and is projected to reach USD 225.16 billion by 2027, registering a CAGR of 17.1% during the forecast period.

-  The global ride-hailing service market size was valued at USD 36,450.0 Million in 2017, and is projected to reach USD 126,521.2 Million by 2025, registering a CAGR of 16.5% from 2018 to 2025.

-  The global micromobility market was valued at USD 40.19 Billion in 2020, and is projected to reach USD 195.42 Billion by 2030, registering a CAGR of 17.4% from 2021 to 2030.

-  The global smart mobility market size was valued at USD 34.04 Billion in 2019 and is projected to reach USD 70.46 Billion by 2027, registering a CAGR of 20.2%.

-  The global Shared Mobility market size is projected to reach USD 145460 Million by 2027, from USD 90690 Million in 2020, at a CAGR of 6.5% during 2021-2027.

-  Due to the COVID-19 pandemic, the global Automated Guided Vehicle market size is estimated to be worth USD 4674.6 million in 2022 and is forecast to a readjusted size of USD 13890 million by 2028 with a CAGR of 19.9% during the review period.

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-  The global Bike and Scooter Rental market size is projected to reach USD 4740.8 Million by 2027, from USD 2115.4 Million in 2020, at a CAGR of 11.7% during 2021-2027.

-  The global taxi market size was valued at USD 69.18 Billion in 2019, and is projected to reach USD 120.89 Billion by 2027, registering a CAGR of 12.3% from 2020 to 2027.

-  The global folding bikes market was valued at USD 790.90 Million in 2019 and is projected to reach USD 1,260.98 Million by 2027, registering a CAGR of 8.7% from 2020 to 2027.

-  The global electric kick scooter market size was valued at USD 2.10 Billion in 2020, and is projected to reach USD 4.52 Billion by 2028, registering a CAGR of 12.2% from 2021 to 2028.

-  The global E-bikes market was valued at USD 40.3 Billion in 2019, and is projected to reach USD 118.6 Billion by 2030, registering a CAGR of 10.5% from 2020 to 2030.

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