The Business Research Company’s report on the On-demand transportation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the on-demand transportation industry?
Growing tourism and a working-class population are expected to propel the growth of the on-demand transportation market going forward. Tourism refers to a social and economic phenomenon that entails the movement of people to countries or places outside their usual environment for personal, business, or professional purposes. On-demand transportation helps tourism and the working-class population by booking their journey at a convenient time and being picked up from an agreed location that is quicker and easier to use. For instance, in November 2023, according to the UNWTO (United Nations World Tourism Organization), a Spain-based non-profit organization, estimated 975 million international tourists travelled between January and September 2023, an increase of 38% compared to the same period in 2022, with a 22% rise in international tourist arrivals during the third quarter of 2023. Therefore, the growing tourism and working-class population are driving the growth of the on-demand transportation market.
Access Your Free Sample of the Global On-demand transportation Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=7482&type=smp
What is the estimated market size of the on-demand transportation sector by 2029, based on current forecasts?
The on-demand transportation market size has grown exponentially in recent years. It will grow from $195.08 billion in 2024 to $236.86 billion in 2025 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to proliferation of smartphones and mobile applications, increase in urbanization and congestion in cities, changing consumer preferences towards convenience and flexibility, growth inThe gig economy and freelance work, advances in GPS and navigation.
The on-demand transportation market size is expected to see exponential growth in the next few years. It will grow to $506.99 billion in 2029 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to surge in adoption of electric and autonomous vehicles, integration of multimodal transportation options, growth in the demand for eco-friendly and sustainable transportation solutions, rise of ride-hailing services, increasing in fuel prices. Major trends in the forecast period include use of artificial intelligence for predictive demand analysis and route optimization, development of on-demand transportation services catering to specific demographics, emphasis on contactless and cashless payment options in on-demand platforms, customization of on-demand services for niche markets and specialized needs, integration of real-time communication and feedback features.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=7482&type=smp
#Who are the top players in the on-demand transportation market?
Major companies operating in the on-demand transportation market include Avis Budget Group Inc., BlaBlaCar SA, Bolt Financial Inc., Cabify SA, Careem Inc., Curb Mobility Private Ltd., Daimler AG, Europcar Mobility Group SA, Ford Motor Company, General Motor Company, Grab Holdings Inc., Hyundai Motor Company, Lyft Inc., Didi Chuxing Technology Co, Enterprise Holdings Inc., Jugnoo, Uber Technologies Inc, Bird Global Inc., MOIA GmbH, ANI Technologies Pvt Ltd., PT Gojek, Bolt Mobility
#What are the major trends in the on-demand transportation market?
Major companies operating in on-demand transportation market are focusing on developing technology advancement such as public transport trial to improve service efficiency, enhance user experience, and increase accessibility. The trial aims to determine the viability of on-demand services as a sustainable and efficient public transport option, potentially influencing future transportation strategies in the region. For instance, in May 2024, Skånetrafiken, a Sweden-based organization is responsible for public transportation in the Skåne region, including bus and train services. The new on-demand public transport trial involves implementing a flexible transit service that allows passengers to request rides via a mobile app, offering a tailored transportation solution that adapts to real-time demand.
Which geography holds the highest on-demand transportation market share?
Asia-Pacific was the largest region in the on-demand transportation market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the on-demand transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/on-demand-transportation-global-market-report
How do different segments contribute to the overall expansion of the on-demand transportation market?
The on-demand transportation market covered in this report is segmented –
1) By Type: Ride-Sharing, Vehicle Rental Or Leasing, Ride Sourcing
2) By Vehicle: Four-Wheeler, Micro Mobility
3) By Application: Passenger Transportation, Goods Transportation
Subsegments:
1) By Ride-Sharing: Carpooling Services, Shuttle Services, Luxury Ride-Sharing, Pooling Services
2) By Vehicle Rental Or Leasing: Short-Term Rentals, Long-Term Rentals, Peer-To-Peer Rentals, Corporate Rentals
3) By Ride Sourcing: E-Hailing Services, App-Based Booking Platforms, Taxi Dispatch Services, Limousine Services
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7482
What defines the structure and scope of the on-demand transportation market?
The on-demand transportation refers to a service that is used by the passengers to book their journey at a convenient time (during service operating hours) and to be picked up from an agreed location. It is a mobility service that is tailored to places with a low demand for shared transportation. From dial-a-ride shuttle services to taxis and now App-based pick-up and drop-off options, transport services that are ‘on-demand’ are making life easier and more convenient for commuters.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
