Global On-Demand Transportation Market Size, Trends, and Analysis- Forecasts To 2026 By Service Type (E-Hailing, Car Rental, Station-Based, Mobility, Car Sharing), By Vehicle Type (Four-Wheeler, Micro Mobility), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
On-demand transport is an innovative transportation system that strives to provide revolutionary services for both transport and traffic management systems. This type of transportation system helps different users to be more coordinated, making the use of transport networks smarter and safer. The increase in the number of owners of cars has contributed to increased traffic congestion and has ultimately increased the global pollution levels. On-demand transportation systems are anticipated to provide enhanced safety and protection by integrating smart communication systems into them, thus fuelling market growth. Furthermore, the rising tourism and the population of the working class, combined with the increasing trend of road trips, are significantly fuelling the growth of the on-demand transport market exponentially from 2020 to 2026.
The market can be segregated into e-hailing, car rental, station-based mobility, and car-sharing segments. It is anticipated that e-hailing services will expand over the expected timeframe with the highest CAGR value. It is also estimated that the transport development programs pursued by many governments would fuel the demand for services in the market.
The segment for vehicle types can be divided into two segments namely, micro-mobility and four-wheeler. In 2019, micro-mobility will expand over the expected timeframe at a high CAGR. Growing stringent environmental regulations combined with increasing traffic congestion are expected to enhance the segmental growth from 2020-2026.
The region of North America is projected to boost the market over the expected time frame from 2020 to 2026. The growing developments in IT infrastructure and the increasing number of funding schemes structured by the government are expected to propel the market growth. On the other hand, the Asia Pacific region will be the fastest-growing segment in the market. Growing individual utilization of cab/taxi sharing services will boost the development of the APAC region's business growth. Moreover, due to increasing fuel prices, environmental emission standards, and traffic congestion this region is ought to be the fastest-growing region in the market.
The main players competing in this market are IBM Corporation, Daimler AG, General Motors Company, Robert Bosch GmbH, Toyota Motor Corporation, BMW Group, Ford Motor Company, Gett Inc., Avis Budget Group, Inc., Uber Technologies Inc., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In December 2020, Bosch launched its new solution i.e. human skin temperature detection solution.
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The Global On-Demand Transportation Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the On-Demand Transportation Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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