Ridesharing Market Report | Ridesharing Market
Increasing vehicular emission leading to move towards a green economy, and demand for reduction of on-road traffic is likely to give impetus to the market growth over the forecast period. Furthermore, integration of smart phone technology with ridesharing services is also expected to fuel the market growth during 2018 to 2024.
Connecting passengers with drivers through an app or a website is called ridesharing. The companies providing these services are called transport network companies (TNC). These companies choose a business model based on the targeted demographic of the urban area. Due to traffic congestion problems across the globe there is an increased focus on restructuring the existing transportation network. Moreover, increasing vehicular pollution and climate change have led to stringent government policy framework supporting these innovative services offered by TNCs.
Geographically, Asia-Pacific (APAC) is likely to witness the fastest CAGR during 2018-2024. This can be attributed to the huge population in the region. The commuting demographic of this region is likely to be the fastest growing segment in China and India. Moreover, increasing focus on restructuring the urban transport network in the region and major transport network companies (TNC) investing in the APAC market are likely to give impetus to the market growth over the forecast period. China’s dynamic ride sharing segment holds the second largest share of the market, and is expected to experience a significant CAGR over the forecast period owing to increasing awareness of the people about ridesharing. Europe and North America are expected to experience significant growth during 2018-2024, owing to strict government regulations limiting vehicular emissions.
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|Target State: New York|
Target City : All Cities
Last Update : Sep 14, 2018
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|Item Owner : Energias Market Research|
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