As per the latest report titled ‘Global Ridesharing Market (2021 Edition) - Analysis By Business Model (P2P, B2B, B2C), Vehicle Type (ICE, CNG, EV), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global ridesharing market which accounted for a valuation of USD 26.72 Bn in 2020 is estimated to accumulate strong returns by 2026.

Unprecedented economic growth across the globe, coupled with rapid urbanization are the major factors fueling the augmentation in global ridesharing market.

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In addition, increasing preference for shared rides among the younger generation, and constant improvements in consumer experience are fostering market expansion in the foreseeable future.

Apart from growth drivers and opportunities, the research literature highlights imminent challenges that may adversely affect profit margins of stakeholders during the analysis timeframe, while also divulging effective solutions to lessen the impact.

For the purpose of comprehension, the industry landscape is bifurcated into business model, vehicle type, and region.

With respect to business model, the business to business (B2B) segment is expected to account for a humongous share in worldwide ridesharing market during the evaluation period, owing to its popularity, and demand from several business organizations.

Meanwhile, the peer to peer (P2P) segment is estimated to gain steady momentum during the analysis timeframe, attributable to the growing trend of sharing private vehicles for rides as a source of extra income. 

Speaking of vehicle type, the ICE vehicles segment held the largest industry share over the past few years but is expected to lose momentum through the study period, creditable to inclination for renewable fuel resources.

On the other hand, the electric vehicles (EV) segment is likely to gain substantial traction during the forecast period, ascribed to escalating demand for substantiable and eco-friendly transportation methods.

From a regional frame of reference, Asia Pacific is anticipated to lead the global ridesharing market development during the evaluation timeframe, owing to a variety of factors such as tremendous rise in petrol prices, population explosion, rapid urbanization, and proliferation of internet services & smartphone devices across APAC countries.

The competitive framework of this marketplace is defined by key players such as Via Transportation Inc., Gojek, Curb Mobility LLC, Bolt, Ola Cabs, Cabify, Gett, Lyft Inc., DiDi Chuxing Technology Co., and Uber Technologies Inc., are major players influencing global ridesharing market trends.