Car E-hailing Market: Overview
Car e-hailing is a process by which the customer request for the passenger vehicle by means of an electronic device such as a mobile, computer, laptop, and tablet. Cars used in an e-hailing service are precisely designed for meeting the desired requirements such as high utilization, additional mileage, robustness, and passenger comfort.
Car E-hailing Market: Drivers and Restraints
The increasingly fast-paced lifestyle of people and the rising necessity to reach a particular destination at the earliest is expected to drive the car e-hailing market during the forecast period. Increasing technological advances such as the usage of smartphone apps, navigation systems, and social media in order to book a car for a ride is simplifying the process of commuting. This is likely to boost the car e-hailing market in the near future. The inconvenience caused by utilizing public transport such as buses, trams or trains in times of urgency can be easily avoided by hailing a car online in order to reach the desired destination. This is anticipated to propel the car e-hailing market in the next few years.
However, car e-hailing requires more number of commuters and in certain situations such as after a concert or during heavy rains, where a large number of people leave a certain place at the same time, car e-hailing cannot be a practically feasible solution since several people are trying to leave the place at the same time.
Car E-hailing Market: Key Segments
The global Car E-hailing Market can be segmented based on distance of commuting, vehicle, device, internet connectivity, and region. In terms of distance of commuting, the car e-hailing market can be segmented into short-distance ride and long-distance ride.
Based on vehicle, the car e-hailing market can be divided into micro mobility vehicles, mini mobility vehicles, sedan, premium vehicles and SUV (sport utility vehicles). The micro mobility segment is expected to expand at a remarkable growth rate during the forecast period owing to the ability of micro mobility vehicles to find their way through small spaces in crowded cities and thus, ensuring faster travel of the commuter.
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Based on the device used, the car e-hailing market can be classified into GPS navigation devices, smartphones, and computers or laptops. The GPS navigation devices segment is expected to expand at a rapid pace during the forecast period. This is primarily attributed to the convenience of hailing a car through the usage of GPS navigation devices which provide the exact location of the car with respect to the commuter. GPS navigation devices help both the commuter and the car driver in exactly locating each other.
Based on internet connectivity, the car e-hailing market can be segregated into 3G, 4G, 5G, Wi Fi, cloud and broadband. The Wi Fi segment is anticipated to expand at a significant growth rate during the forecast period owing to the numerous advantages such as faster connectivity, provision to allow users to access network resources from nearly any convenient location within their primary networking environment, and a nearly constant affiliation of users with their desired network even if they move from place to place, which are provided by Wi Fi over other means of connectivity.
Based on geographical region, the car e-hailing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe witness a high number of car owners However, the people in some countries of Asia Pacific have been witnessing a gradual transition in their lifestyle due to the rapid urbanization and industrialization in recent years. The increasingly hectic lifestyle of people in the developing countries of Asia Pacific is expected to propel the car e-hailing market during the forecast period.
Car E-hailing Market: Key Players
Key players operating in the car e-hailing market include Uber, Lyft, Didi, Ola, GrabTaxi, Yidao yongche, Sidecar, BlaBlaCar, Shenzhou Zhuanche, and Hailo.
