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We expect the global on-demand transportation market to exhibit a CAGR of around 17% during 2021-2026.
The growing travel and tourism sector, rising penetration of IoT-based devices, increasing traffic and parking related problems, and expanding automobile fleet, are some of the key factors driving the global on-demand transportation market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary restrictions on interstate and intrastate transportation services, thereby limiting the adoption of on-demand transportation.
Based on the service type, the global on-demand transportation market can be segmented into E-hailing, car sharing, car rental, and station-based mobility. Among these, E-hailing accounts for the majority of the global market share.
Based on the vehicle type, the global on-demand transportation market has been divided into four-wheeler and micro mobility, where four-wheeler currently exhibits a clear dominance in the market.
Based on the application, the global on-demand transportation market can be categorized into passenger transportation and goods transportation. Currently, passenger transportation accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global on-demand transportation market include ANI Technologies Pvt. Ltd, Avis Budget Group Inc., Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, Gett Inc., Grab Holdings Inc., International Business Machine Corporation, Lyft Inc., Robert Bosch GmbH, Toyota Motor Corporation, and Uber Technologies Inc.
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