DUBLIN, May 2, 2023 /PRNewswire/ — The “On-demand transportation Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global on-demand transportation market grew from $133.09 billion in 2022 to $161.79 billion in 2023 at a compound annual growth rate (CAGR) of 21.6%. The on-demand transportation market is expected to grow to $341.7 billion in 2027 at a CAGR of 20.6%.
The advancement of automotive transportation is a key trend gaining popularity in the on-demand transportation market. Major companies operating in on-road transportation are looking for advancements in transportation to improve the efficiency of existing transportation methods, while new inventions are poised to entirely reshape the way we move.
The advent of self-driving cars such as the Google Car and Telsa is making the idea of autonomous cars a reality. For instance, in December 2021, Uber Technologies Inc., a US-based transportation company operating in the on-road transportation market, rolled out a new service that gives people the option to book an Uber ride through an official Uber Whatsapp chatbot. No longer are riders required to download or use the Uber app. The Whatsapp chat interface has been used to manage everything, including user registration, ride booking, and trip receipts.
In November 2021, Uber Freight, a US-based transportation and logistics platform built on the power of Uber with the goal of reshaping global logistics and delivering reliability, acquired Transplace from TPG Capital for the deal amount of $2.25 billion. This acquisition brings together Uber Freight’s vast network of digitally-enabled carriers with Transplace’s trusted shipper technology and operational solutions, ultimately creating one of the world’s leading logistics technology platforms to meet the rapidly evolving needs of shippers and carriers alike. Transplace is a US-based transportation and logistics service provider operating in the on-road transportation market.
Asia-Pacific was the largest region in the on-demand transportation market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in this on-demand transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the on-demand transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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 January 2022, according to a report shared by the World Tourism Organization (UNWTO), a Spain-based United Nations specialized agency, compared to 2020, there was a 4% increase in global tourism in 2021. (415 million versus 400 million). Therefore, the growing tourism and working-class population are driving the growth of the on-demand transportation market.
The on-demand transportation market includes revenues earned by entities by establishing connections between remote places and providing customers complete mobility through digital apps. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Major players in the on-demand transportation market are
- Avis Budget Group Inc
- Bayerische Motoren Werke Group AG
- Careem Inc.
- Curb Mobility
- Daimler AG
- Europcar Mobility Group
- Ford Motor Company
- General Motor Company
- Gett Inc
- Grab Holdings Inc
- Hyundai Motor Company
- International Business Machines Corporation (IBM)
- Lyft Inc
- Didi Chuxing Technology Co
- Enterprise Holdings Inc.
Key Topics Covered:
1. Executive Summary
2. On-Demand Transportation Market Characteristics
3. On-Demand Transportation Market Trends And Strategies
4. On-Demand Transportation Market – Macro Economic Scenario
4.1. COVID-19 Impact On On-Demand Transportation Market
4.2. Ukraine-Russia War Impact On On-Demand Transportation Market
4.3. Impact Of High Inflation On On-Demand Transportation Market
5. On-Demand Transportation Market Size And Growth
5.1. Global On-Demand Transportation Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global On-Demand Transportation Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. On-Demand Transportation Market Segmentation
6.1. Global On-Demand Transportation Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vehicle Rental/Leasing
- Ride Sourcing
6.2. Global On-Demand Transportation Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Micro Mobility
6.3. Global On-Demand Transportation Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Transportation
- Goods Transportation
7. On-Demand Transportation Market Regional And Country Analysis
7.1. Global On-Demand Transportation Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global On-Demand Transportation Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/brusl7
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