Ride-sharing or Real-Time Ride Sharing means a transportation service that allows you to use a private vehicle through a mobile application. Ride-sharing reduces commuting costs, air pollution problems due to lowering urban congestion. In addition to these advantages, the demand for such services decreases in economies for which the cost of fuel is low and the number of personal vehicles is high, and the demand appears in the form of environmental concerns. Unfortunately, the lack of proper technical and support infrastructure for businesses in this field limits the market growth.
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Market / Industry segment of ride-sharing
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2019 | 34 | 7 | 6.50% | GMInsight |
| 2019 | 7.73 | 6 | 7.50% | PR news wire |
| 2018 | 61.3 | 7 | 19.87% | Market and market |
| 2017 | 6.68 | 8 | 7.50% | Grand view research |
| 2018 | 62.15 | 8 | 20.20% | verified market research |
Influencing factors that changes market size of ride-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 ride-sharing
Direct drivers:
- Increasing concerns about public transportation safety
- The outbreak of viral diseases and infections
Reverse drivers:
- Increase in the ownership of private cars
- Limitations of technology and supportive infrastructure
This market may also be threatened by following risks:
In all different markets and industries, the risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment identifying risks in the market to perform risk management. The market of ride-sharing may also be threatened by the following risks:
- Technology risk
- Litigation risk
- Stage of business
- Legislation risk
- Competition risk
