Car E-hailing Market Outlook 2031

 
  • The global car e-hailing market was valued at US$ 61.58 Bn in 2020

  • It is estimated to expand at a CAGR of 7.09% from 2021 to 2031

  • The global car e-hailing market is expected to exceed the value of US$ 148.41 Bn by the end of 2031

Increase in Demand for Car E-hailing Services Globally

 

Rising population, expanding road networks, and urbanizations are some of the factors responsible for the rapid adoption of car e-hailing services. The growing need of urban people to reach at a certain destination in less time due to hectic lifestyles is driving the demand for car-e-hailing services. Due to inconvenience of public transport services such as buses, trains, etc., people are more likely to opt for efficient car e-hailing services.

 

The global car e-hailing market is significantly driven by the rapid adoption of technology and user-friendly handheld devices such as smartphones. People can book a car from their smartphone application to reach to a certain destination with ease and comfort. These cars also designed in such a way that they ensure high efficiency, performance, and passenger comfort.

 
 
 

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Technological Advancement and Digitalization Contributing to Expansion of Global Market

 

With the help of car e-hailing services, a customer can request for a passenger vehicle by the electronic device such as a mobile, computer, laptop, and tablet. Technological advancement and digital growth are major factors expected to drive the car e-hailing market in the upcoming years. Rising transportation demand of passengers and popularity of convenient & option for traveling is boosting market growth. Sharing cars can be booked by a single mobile application, which is an opportunity for the market contributors to create more revenues.

 
 
 

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Rise in Adoption of Electric Vehicles to Boost Global Car E-hailing Market

 

The unparalleled rise in sales of electric vehicles is being witnessed after the recovery of automobile sector from the coronavirus pandemic. The focus of automobile manufacturers is on reducing emissions caused by conventional fuel vehicles. The increasing fuel prices is the main factor for the increasing popularity of electric vehicles. Manufacturers are paving their ways to introduce highly efficient and low emission electric vehicles to meet the growing demand from the automobile industry.

 

The emergence of electric vehicles across the globe is propelling the demand for car e-hailing services. Rapid urbanization, along with rising disposable income of consumers in many developing countries across the globe is likely to fuel the global car e-hailing market.

 
 
 

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