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SOURCE Grand View Research, Inc.
SAN FRANCISCO, March 8, 2018 /PRNewswire/ --
The global on-demand transportation market size is expected to reach USD 290.3 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 20.4% during the forecast period. Rising penetration of smartphones and connected vehicles is increasing the adoption of on-demand transportation services such as e-hailing, car sharing, car rental, and station-based mobility. These services enable users to pre-book, modify, or cancel their taxi reservations via mobile applications such as Uber and Gett.
Advancements in IT infrastructure and growing usage of car sharing services by millennials are anticipated to drive the adoption of on-demand transportation services in Europe. The Asia Pacific regional market is estimated to witness considerable growth over the forecast period, owing to increased traffic and fuel prices. Government initiatives, such as Smart Mobility 2030 plan of the Land Transport Authority of Singapore, are also likely to bolster the growth of the market.
However, issues regarding poor connectivity and high costs of developing infrastructure may hamper the growth of the market. Therefore, car sharing service providers are focusing on developing car-sharing applications, which do not require internet connectivity for accessing them.
Browse full research report with TOC on "On-Demand Transportation Market Size, Share & Trends Analysis Report By Service Type (E-Hailing, Car Rental, Car Sharing), By Vehicle Type, By Vehicle Connectivity (V2V, V2P), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/on-demand-transportation-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global On-Demand Transportation market based on service type, vehicle type, vehicle connectivity, and regions:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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