Global On-Demand Transportation Market To Attain Around USD 294.57 Billion by 2032

Global On-Demand Transportation Market is Likely to Grow at a CAGR Value of 6.84% by 2032

As per the analysts at Zion Market Research, the global on-demand transportation market is estimating its value at USD 162.4 Billion in 2023, with projections indicating that it will reach USD 294.57 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.84% over the forecast period 2024-2032.

The main players active within the global on-demand transportation market consist of Lyft, Inc., ANI Technologies Pvt. Ltd. (OLA), Careem, Grab, Taxify OÜ, Uber Technologies Inc., BlaBlaCar, Gett, Curb Mobility, Wingz, Inc, Europcar, Cabify, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), The Hertz Corporation, Enterprise Holdings, Inc., and Avis Budget Group, Inc. The global on-demand transportation market is observing a rise in acquisitions and mergers in addition to integration activities. To cite, in August 2019, Ola, a Bengaluru-located cab aggregator unicorn, has purchased Pickup.ai, a Bengaluru-located artificial intelligence platform. As an element of the agreement, the employees and co-founders of Pikup.ai will team up with Ola staff.

Increasing Penetration Of Connected Vehicles Likely To Boost The Global Market Growth

The increasing infiltration of connected vehicles and smartphones is escalating the implementation of on-demand transportation services like car rental, car sharing, e-hailing, and station-based mobility. With these, the users are able to modify, pre-book, or call off their taxi reservations through mobile apps like Gett and Uber. Furthermore, developments in IT infrastructure and the rising use of car-sharing services by the young generation are projected to propel the growth of the global on-demand transportation market during the forecast period. In addition, rising prices of fuel and increasing traffic are also expected to drive the market growth.

Based On Vehicle Type, Micro-Mobility Segment Is Expected To Grab Largest Market Share

Micro-mobility provides a number of advantages such as flexible mobility and decreased consumption of fuel. In addition, it enables enhanced energy efficiency and cost, which is driving users to choose this vehicle type. The rising strictness of environmental rules together with rising traffic jamming is projected to promote users to take on micro-mobility in the years to come. Consequently, the segment is anticipated to register a considerable growth rate during the forecast period.

Asia Pacific Region Projected To Lead The Global Market During The Forecast Period

Ride sourcing and ride-sharing services are considerably trendy across nations within the Asia Pacific like India, China, and others. The key mobility sharing service providers active in this region are OLA, DIDI Chuxing, Grab, and Uber. The growth of the on-demand transportation market in the Asia Pacific can be attributed to the swift increase in urban population and ascend in the number of crowded public transits, daily commuters, a rise in fuel prices, and low motorization rate. The huge population and existence of globally ruling on-demand transportation service providers have resulted in the Asia Pacific to grab a key market.

Browse the full “Global On-Demand Transportation Market by Service Type (Car Sharing, e-Hailing, Car Rental, and Station Based Mobility) by Vehicle Connectivity (V2N, V2V, V2P, and V2I), by Vehicle Type (Micro-Mobility and Four-Wheeler) and Region –Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/on-demand-transportation-market

The global on-demand transportation market is segmented as follows:

By Vehicle Type

• Light Commercial Vehicles
• Passenger Cars
• Buses & Coaches
• Heavy Commercial Vehicles
• Micro-Mobility

By Business Model

• B2B
• P2P
• B2C

By Power Source

• HEV
• Fuel Powered
• BEV
• PHEV

By Autonomy Level

• Semi-autonomous
• Manual
• Autonomous

By Application

• Goods Transportation
• Passenger Transportation

By Type

• Vehicle Rental/Leasing
• Ride-Sharing
• Ride Sourcing

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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