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.

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.  

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. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the global ride-sharing industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on the ride-sharing industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the global ride-sharing Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global ride-sharing Industry.
• Insights about market determinants that are stimulating the global ride-sharing Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.