The Shared Mobility Market to Surpass USD 238.03 Billion by 2026: Facts & Factors

PUNE, India - Dec. 8, 2020 - PRLog -- Shared mobility is the advanced and innovative transportation service that enables the user to borrow or use the vehicles for short term access. The shared transportation is significantly influenced by the advancements in social networking, internet, location-based services, and mobile technologies. There are various types of shared mobility that include car sharing, taxi sharing, bike sharing, ride sharing, and others. Share mobility offers large number of advantages such as reduced congestion, social and environmental benefits, and monetization for the under used resources. Several countries are adopting the shared mobility for achieving their environmental goals.

As per research report published on Facts & Factors website (https://www.fnfresearch.com/shared-mobility-market-by-service-ride-hailing-bike-1240), global shared mobility market share increases from USD 99.08 billion in 2019 to reach USD 238.03 billion by 2026, with the rate of 15.42% CAGR through 2026.

The shared mobility market is classified on the basis of service, vehicle, and business model. Based on service segment the shared mobility market is bifurcated into ride hailing, bike sharing, ride sharing, car sharing, and others. Ride hailing segment dominate the market in terms of revenue share in the year 2019. The growth is mainly driven by the increasing participation of automotive players into shared mobility services.

P2P (Peer-to-Peer), B2B, and B2C are the business model segments for the shared mobility market. P2P segment accounts significant market share due to growing utilization of vehicles for rental and leasing services.

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Top Players in the Industry Are:

• Uber Technologies Inc.
• Cabify
• ANI Technologies Pvt. Ltd. (OLA)
• Gett Lyft Inc.
• Europcar
• Grab
• Careem
• Taxify OÜ
• BlaBlaCar
• Wingz Inc
• Curb Mobility
• Beijing Xiaoju Technology Co Ltd. (Didi Chuxing)
• The Hertz Corporation
• Avis Budget Group Inc

Key Drivers and Restraints: Shared Mobility Market

Some of the high impact rendering drivers for the shared mobility market is increasing traffic congestion and low per capita income in the developing countries. Shared mobility provides short-term transportation facility to the consumers at lower price. Increased traffic congestion and the growing adoption of shared mobility have influenced several transport and technology companies to sign shared mobility principle.