Carpooling Market to see Huge Growth by 2031

The global carpooling market is anticipated to grow at a CAGR of 19.2% during the forecast period. A significant rise in the preference for carpool services among regular office commuters is the primary factor contributing to the growth of the carpooling market. Additionally, the increase in the services offered by key players such as Uber Technologies, Inc., Ola Electric Mobility Pvt Ltd., and others and the option to choose convenient pick-up and drop locations encourages users to opt for carpooling services. For instance, in June 2019, RedBus introduced a new carpooling service with an application named rPool. The services are launched specially for professionals riding intra-cites which provides convenient pickup and drop points for employees. The services are available in cities including Bangalore, Pune, Hyderabad, and New Delhi. The availability of different types of modes of transport such as auto-sharing, bus sharing, car sharing, and others even for short distances attract consumers to adopt carpooling services which is another factor increasing the demand for carpooling services.

Another factor bolstering the market growth includes the rapidly expanding footprints of market players globally to cater to the demand and stay competitive. For instance, in February 2020, Ola Electric Mobility Pvt. Ltd. expanded its services to London with 25,000 drivers registered on a platform offering rides. The company expanded its services across the UK and licensed across 350 license jurisdictions. The company is fully operational in the region with three categories including comfort, comfort XL, and Exec ride classes.

In May 2021, Grab Holdings Inc. expanded its transport offerings with the launch of two new on-demand premier ride options. The new ride options include GrabCar Exec and GrabPet XL. GrabCar Exec is a fleet of luxurious vehicles that serve consumers’ demands to travel in style and comfort, whereas GrabPet XL caters to consumers traveling with pets. For the same, the company provides a fleet of four and six-seater premium vehicles including the BMW 5 Series, Mercedes Benz E-Class, Mercedes-Benz V220, and Toyota Vellfire models.

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Market Coverage

•The market number available for – 2023-2031

•Base year- 2023

•Forecast period- 2024-2031

Segment Covered- 

•By Product Type

•By Service Type

•By Application

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

•Competitive Landscape- including Blablacar, Carma Technology Corp., Fasterminds Gmbh, Grab Holdings Inc., Ibibo Group Pvt. Ltd., Idisha Info Labs Pvt Ltd., Karos, Lyft Inc., and others. 

Carpooling Market Report Segment

By Product Type

•Online Carpooling Platforms

•App-based Carpooling

By Service Type 

•E-Hailing

•Car Sharing and Car Rental

•Station-Based Mobility

By Application  

•Business

•Individuals

•Schools

A full Report of Carpooling Market is Available @  https://www.omrglobal.com/industry-reports/carpooling-market

Carpooling Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•Latin America

•Middle East and Africa 

Company Profiles 

• Blablacar
• Carma Technology Corp.
• Fasterminds Gmbh
• Grab Holdings Inc.
• Ibibo Group Pvt. Ltd.
• Idisha Info Labs Pvt Ltd.
• Karos
• Lyft Inc.
• Meru Mobility Tech Pvt. Ltd.
• Moovit App Global Ltd.
• Octo Telematics S.P.A.
• Poola.App
• Raye7
• Ryde Technologies Pte Ltd.
• Schwarz Mobility Solutions Gmbh
• Scoop Technologies, Llc
• Sride Tech Pvt. Ltd.
• Uber Technologies, Inc.
• Voyage Technologies Ltd. (Safarishare)
• Waze Mobile Ltd.

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Article source: https://article-realm.com/article/Business/62941-Carpooling-Market-to-see-Huge-Growth-by-2031.html