PUNE, India, February 22, 2023 (GLOBE NEWSWIRE) — According to a report titled “ride sharing market2021-2028”, the global ridesharing market is expected to reach a CAGR of 16.3% during the forecast period and reach a market size of USD 242.73 billion by 2028, which will attract key players to invest heavily in these regions and To contribute to the growth of the market. The market size for 2020 was USD 76.48 billion.

Important points:

• Increasing use of smartphones and internet to drive market growth
• Resistance from traditional transportation services and high cyber threat risks could hamper the market growth
• E-hailing is said to dominate the market due to government initiatives to raise awareness of air pollution
• The intercity segment is expected to hold the largest market share due to increasing congestion in public transport

Get a free sample of the report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/ride-sharing-market-103336

Market Growth Drivers and Restraints:

The increasing demand for micro mobility consisting of light vehicles such as mopeds, bicycles, scooters and longboards is expected to have a significant impact on the market growth. In addition, increasing traffic congestion in metro cities has created a need for hassle-free travel that generates market revenue. Concerns over CO2 emissions have also created a need for ride-sharing and boosted market growth.

Market segment analysis:

The market is segmented by commuter type (corporate, long-distance, and intercity) and application type (Android, iOS, and others). The intercity segment is expected to hold the largest market share, and the Android segment accounted for the highest share in 2020.

Competition overview:

The industry is highly competitive and fragmented, with major market players such as Uber Technologies Inc., Lyft, Inc., Didi Chuxing Technology Co., Bolt Technology OÜ, Gett and…