The Global On-Demand Transportation Market To Witness Major Growth By 2026 Owing To The Rising Acceptance And Demand

Author : Acumen Research and Consulting

The global on-demand transportation market is segmented into service type, vehicle type and geography. The service type segmentation of the global on-demand transportation market can be further divided into e-hailing, car sharing, car rental, and station-based mobility. On the basis of vehicle type segmentation, the global on-demand transportation market is bifurcated into four wheeler and micro mobility. Geographically speaking the global on-demand transportation market is divided into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

There have been various factors pushing the growth of the global on- demand transportation market. These factors include augmented glitches related to traffic, rising costs of fuel, lack of parking spaces and the growing penetration of smartphone and vehicle telematics or connected vehicles have raised the acceptance of on-demand transport services. Furthermore, the younger generation; mainly between the ages of 20-30 years have increased the use of vehicle sharing administrations, ultimately contributing towards the growth of this market.

According to estimates, by 2026, the global on-demand transportation market is expected to have a market size of almost USD 305.2 billion growing at a CAGR of 20.1% in the forecast period.

Here are some more points to help explain about the global on-demand transportation market:

  • Consumer behavior, rising disposable income and fuel costs and government activities assume a critical job in impacting the development crosswise over various districts.
  • Asia Pacific was the prevailing local section pursued by North America and Europe, in 2017.
    North America will proceed with encourage the development owing to the nearness of significant players combined with their endeavors to convey proficient driverless transports crosswise.
  • European nations for instance, Germany and France have witnessed high acceptance of the on-demand transportation market.
  • Asia Pacific region is anticipated to increase to the forefront of the on-demand transportation market by 2026.
  • Some of the major players operating in the global on-demand transportation market are Robert Bosch GmbH, International Business Machines Corporation (IBM),BMW Group,Ford Motor Company, Daimler Group,Gett, Inc., and General Motor Company.

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