by According to Precedence Research, the global on-demand transportation market size is forecasted to be worth over US$ 701.1 billion by 2030 from US$ 143.55 billion in 2021, by growing at a lucrative CAGR of 19.25% between 2021 and 2030. owing to the growing use of smartphones and increase in traffic congestion caused by the increased number of cars.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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.
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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.
Some of the prominent players in the global on-demand transportation market are listed as below:
- 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
Segments Covered in the Report
By Service Type
- E-Hailing
- Car Sharing
- Car Rental
- Station-Based Mobility
By Vehicle Type
- Four-Wheeler
- Micro Mobility
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
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