The common feature of ride-sharing services is the ability of a person to request a vehicle through a smartphone application whereby needed. With the assistance of GPS technology, routing algorithms, and digital maps, users are provided with real-time information about waiting times, location, and so on; therefore these features create the fast acceptance of ride-sharing services across the globe. The increasing adoption of smartphones embedded with GPS, linked with the availability of digital road maps, offered the essential supporting facilities such as navigation and tracking for ride-sharing services. Other factors augmenting the global ride-sharing market include the development of shared mobility services, such as Uber, Lyft, and Zipcar, which are getting increasingly adopted in established transportation business patterns across the globe.

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However, after the COVID-19 pandemic, social distancing and staying home are expected to affect the ride-sharing industry. As most of the peoples are advised to stay at home to prevent the spread of the COVID-19, therefore, a downfall in the usage of cabs and taxis will be witnessed globally. Various ride sharing providers and drivers have reported a loss of income as a result of reducing demand for ride shares during the COVID-19 quarantine period.

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The global ride-sharing industry report is segmented based on type and vehicle type. By type, the market is segmented into e-hailing, station-based, car sharing, and car rental. Car sharing segment was growing significantly due to its economic benefits all across the globe however as there is a need for social distancing after the COVID-19 pandemic, the growth of the segment w be affected considerably for at least the next two years globally. By vehicle type, the market is segmented into sedan & hatchback, utility vehicle, and buses & coaches. The outbreak of COVID-19 had an impact on these segments due to the social distancing and lockdown of workplaces and offices across the globe. Moreover, the ride-sharing for sedan & hatchback cars has mostly affected the industry as these are mostly used for car-sharing and car-hailing services. Ride-sharing companies have come up with different models of service offerings to cater to the requirements of various user groups, targeting high-end, mid-market, and budget users separately. For instance, Uber, one of the largest ride-sharing platforms globally, offers premium services through its service offerings such as Uber Black, Black SUVs, and Uber Select.

The ride-sharing industry in various regions such as North America, Europe, Asia-Pacific, and the Rest of the world are impacted by the novel COVID-19 pandemic. The countries in which most of the cases recorded include the US in North America; Italy, Spain, France, and Germany in Europe and China in Asia-Pacific. The ride share industry in China is affected mainly due to the trend towards work from home and the shutdown of factories and workshops in the country. Key companies getting involved in the market include Uber Technologies Inc., DiDi Chuxing Technology Co., Ltd., Lyft, Inc., Comuto SA (BlaBlaCar), ANI Technologies Pvt. Ltd. (OLA), BYKEA Technologies Pvt. Ltd., Carma Technology Corp., and others. Uber Technologies serves customers across the globe to provide applications for road transportation, navigation, ride-sharing, and payment processing solutions. On 17 March 2020 Uber Technologies Inc. along with Lyft Inc. announced the suspension of shared-ride services due to COVID-19 pandemic across the globe. Therefore, these suspensions of ride-sharing services further impact the revenue generation of the company that will affect market growth.

Segmentation

By Type
E-hailing
Station-based
Car Rental
Car Sharing
By Vehicle Type
Sedan & Hatchback
Utility Vehicle
Buses & Coaches
Impact of COVID-19 on major economies

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles

ANI Technologies Pvt. Ltd. (OLA)
DiDiChuxing Technology Co., Ltd.
Lyft, Inc.
Comuto SA (BlaBlaCar)
BYKEA Technologies Pvt. Ltd.
Carma Technology Corp.
Gett Group
Grab Holdings Inc.
Maxi Mobility Holding Co.
RideCharge, Inc.
Uber Technologies Inc.
Wingz, Inc.
ZoomCar India Pvt Ltd.


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