SAN FRANCISCO, January 23, 2019
SAN FRANCISCO, January 23, 2019 /PRNewswire/ --
The global shared mobility market size is projected to reach USD 619.51 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 25.1% during the forecast period. Growing use of smartphones and connected vehicles, along with an elevated problem of traffic congestion in prominent cities worldwide, is anticipated to drive the market. Increasing fuel costs are impelling individuals to shift towards alternative transportation solutions, further escalating the growth of the market during the forecast period.
Key suggestions from the report:
Read 113 page research report with TOC on "Shared Mobility Market Size, Share & Trends Analysis Report By Vehicle (Cars, Two-Wheelers), By Service Model (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/shared-mobility-market
Reluctance towards sharing personal vehicle with strangers in ride sharing is one of the major factors challenging market growth. Furthermore, high costs of developing internet infrastructure in some low-income countries and substandard connectivity are inhibiting the upward rise of the market.
Proliferation of internet-based technologies, mass marketing of connected vehicles, and burgeoning popularity of intelligent transportation systems (ITS) are prominent technological breakthroughs that are estimated to positively influence the growth of the market. Web-integrated services offer advanced features, such as V2V, V2X, and V2I communication, for vehicles. Moreover, availability of real-time information pertaining to parking and congestion is expected to further augment the shared mobility market over the coming years.
Grand View Research has segmented the global shared mobility market on the basis of service model, vehicle, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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