(MENAFN- Ameliorate Digital Consultancy)
Global mobility on demand market could become USD 250 billion industry by 2026. Surging demand for alternative transportation options over private vehicles is expected to drive global market expansion. Service providers worldwide are looking for investments from automakers, governments, and investors to roll out flexible service portfolios and expand their business reach.
Automakers meanwhile are collaborating with other industrial entities to introduce numerous ride-hailing, car sharing, and car rental platforms to offer mobility services. For instance, in Apr. 2019, Enterprise Holdings declared plans to introduce a new car subscription service, which would enable consumers to pay a monthly fee for its six-vehicle options.
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Technological advancements and changing environmental & social needs are reshaping mobility on demand market growth. Industry participants are spending heavily on innovations to develop efficient and convenient service models.
Reportedly, the Federal Transit Administration has started a mobility on demand initiative to build automated, efficient, connected, and integrated transportation systems that delivers tailored mobility options. Moreover, governments worldwide are promoting on-demand mobility options to decrease traffic congestion and maintain favourable environmental conditions.
Surging automobile prices and the cost of ownership of advanced vehicles have restricted consumers from purchasing new vehicles. These factors have compelling consumers to opt for on-demand mobility solutions. Apart from this, a noticeable size of working population demands for time-reliable and flexible mobility solutions, which has in return fuelled the mobility on demand market growth.
Notably, prominent industry players operating in this market include Grab, Drivy, Didi Chuxing, Daimler AG, Enterprise Holdings, Uber Technologies, Lyft, Zipcar, Delphi Automotive, Localiza Rent a Car S.A., Hertz Corporation, Gett, Getaround, Inc., Europcar Mobility Group, Enterprise Rent-A-Car, Easy Taxi, Communauto, Inc., Avis Budget Group, Autolib, and Al Futtaim Vehicle Rentals.
On a regional front, North America is expected to offer lucrative growth opportunities to the mobility on demand market. MoD services provide numerous benefits to consumers, such as eliminates the need for extra financial funds like vehicle lease, repair, maintenance, and insurance. Companies operating in North America are incorporating corporate mobility on-demand solutions to retain and attract employees without incurring high transportation costs.
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Partial Chapter of the Table of Content
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Mobility on demand market insights and validation
1.1.4 Definition and forecast parameters
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Mobility on demand market 3600 synopsis, 2015 – 2026
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Service trends
2.1.4 Application trends
2.1.5 Car sharing business model trends
2.1.6 Car rental vehicle type trends
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