According to a recent report published by Allied Market Research, titled “Ride Sharing Market by Booking Type, Commute Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2020–2027”, the global ride sharing market was valued at $59.53 billion in 2020, and is projected to reach $205.83 billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030.
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📍 Regional Performance
Europe emerged as the highest revenue contributor in 2020, with Asia-Pacific forecasted to dominate the market growth through 2030. This growth is driven by rapid technological advancements, increasing adoption of shared mobility as a solution to traffic congestion, and government initiatives supporting ride-sharing ecosystems.
🚗 Understanding Ride Sharing
Ride sharing allows passengers to join a private trip where both driver and riders share a common route or destination. This model, encompassing services like carpooling and vanpooling, improves vehicle utilization while offering cost-effective travel. Bookings are enabled through smartphone apps, web platforms, or even offline methods, making ride sharing a flexible and accessible urban mobility solution.
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The global ride sharing market is analyzed across booking type, commute type, vehicle type, and region.
Based on booking type, the online booking segment accounted for 87% of the total market share in 2020, and is expected to rule the roost by 2030. The same segment would also garner the fastest CAGR of 13.7% throughout the forecast period.
Based on commute type, the intracity segment contributed to nearly four-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The intercity segment, however, would exhibit the fastest CAGR of 15.2% during the forecast period.
Based on region, the market across Europe held the major share in 2020, garnering nearly one-third of the global market. LAMEA, on the other hand, would manifest the fastest CAGR of 16.0% throughout the forecast period. The other provinces discussed in the report include North America and Asia-Pacific.
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The key market players analyzed in the global ride sharing market report include
Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), BlaBlaCar, Cabify Espana S.L.U., Uber Technologies Inc., Careem, Gett, GrabTaxi Holdings Pte. Ltd., Lyft, Inc., Yandex, and ANI Technologies Pvt. Ltd. (OLA).These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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