Shared transportation using private vehicles is now very common in cities, and its low costs has convinced many people not to buy a car. Internet technology and penetration have made sharing request easier and more accessible through web platforms, and P2P systems have provided opportunities for mobile owners to make money via it.
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Market / Industry segment of car sharing
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2019 | 2.5 | 7 | 24.00% | gminsight |
| 2018 | 33.5 | 7 | 17.20% | prnewire |
| 2018 | 5.57 | 7 | 11.00% | Psmarketresearch |
| 2018 | 5.49 | 7 | 9.85% | marketwatch |
| 2020 | 7.65 | 4 | 16% | globenewswire |
Influencing factors that changes market size of car sharing
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of car sharing.
Direct drivers:
- Reduce of transportation costs
- Internet penetration
- Technology advancement
- Environmental problems of air pollution
Reverse drivers:
- Increased ownership of personal cars
- Lack of proper infrastructure and support
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This market may also be threatened by following risks:
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of car sharing may also be threatened by the following risks:
- Legislation risk
- Litigation risk
- Management risk
- Sales and marketing risk
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