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:
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