As cited by the research 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 Market Study Report, global ridesharing market was worth USD 26.72 billion in 2020 and is projected to expand significantly over 2021-2026.
 

Rapid urbanization and improved economic status are primarily driving the global ridesharing market growth. Moreover, growing demand among youngsters coupled with better consumer experience will augment the industry outlook in the upcoming years.
 

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Based on business model, the market is segmented into Peer to Peer (P2P), Business to Customer (B2C), and Business to Business (B2B). Among these, Business to Business (B2B) segment holds a significant market share and is poised to expand lucratively over the forecast timeline, owing to inclination towards ridesharing in organizations. Also, Peer to Peer (P2P) segment is anticipated to grow substantially over 2021-2026, due to the growing trend of providing private vehicles for hire for extra income.
 

Speaking of vehicle type,  global ridesharing marketplace is categorized into electric vehicles, ICE vehicles, and CNG/LPG vehicles. As cited in the report, ICE vehicles segment account for a dominant share in the overall industry but is likely to show sluggish growth over the forecast timeframe, owing to increasing demand for green & renewable fuels. Also, the electric vehicles segment is likely to witness significant growth over the analysis period, due to preference for eco-friendly & sustainable transportation.
 

The geographical analysis of this industry extends to North America, Middle East & Africa, Asia Pacific, Europe, and Latin America. Expert analysts speculate that Asia Pacific market is reckoned to grow enormously over 2021-2026, owing to rapid urbanization, growing internet penetration, along with increasing smartphone proliferation in the region. Moreover, rising pollution level and hike in petrol prices in Asian countries are positively swaying the industry dynamics in the region.
 

Prominent players influencing the worldwide ridesharing industry trends are Ola Cabs, Cabify, Gojek, Curb Mobility LLC, Via Transportation Inc., Bolt (Taxify), DiDi Chuxing Inc., Grab Holdings Inc., Gett, Lyft Inc., and Uber Technologies Inc.