TOKYO, September 20, 2022 (GLOBE NEWSWIRE) – World horse riding services market The volume was $44.8 billion in 2021 and it is estimated that it will achieve a market size of $178.2 billion by 2030 at a compound annual growth rate of 17% from 2022 to 2030.
The main points of the Transportation and Guidance Services market report:
- The global car reservation services market capitalization was $44.8 billion in 2021, growing at a compound annual growth rate of 16.9% from 2022 to 2030
- The North American car reservation services market will dominate over 35% of the market share in 2021
- According to surveys, 15 million trips occur daily, and this number is expected to rise to 100 million by 2030.
- According to the US Bureau of Labor Statistics, full-time drivers are 40% more likely to be employed than part-time drivers.
- Declining car ownership among millennials is increasing the size of the car reservation services market
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|Market||horse riding services market|
|horse riding services market Size 2021||44.8 billion US dollars|
|horse riding services market 2030 forecast||178.2 billion US dollars|
|horse riding services market Compound annual growth rate during 2022 – 2030||17%|
|horse riding services market Analysis period||2018 – 2030|
|horse riding services market base year||2021|
|horse riding services market forecast data||2022 – 2030|
|covered slices||display and geography|
|horse riding services market Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|An overview of the main companies||Addison Lee, BlaBlaCar, Didi Chuxing, Grab, Gett, Lyft, My Taxi, Ola, Uber, ViaVan, Zoox, Yandex.taxi.|
|Report coverage||Market trends, drivers, restraints, competitive analysis, player rating, regulations analysis|
In recent years, the demand for passenger transportation services has increased in developed regions like Europe and the United States along with increasing preferences of passengers in developing nations like India, China, Vietnam, etc. The emergence of on-demand transportation services, job creation, and declining car ownership among millennials are driving the revenue growth of the global taxi services market. Furthermore, developments in connected and fully automated vehicles to reduce carbon dioxide emissions, as well as a significant increase in sales of these vehicles for use with transportation services, are driving the growth of the global ride-hailing services market.
Moreover, rapid rise in urban population due to relocation from rural areas for better opportunities leads to increased traffic congestion and shortage of parking spaces. These factors encourage consumers to use taxis and taxis for transportation, which will contribute to the ride-hailing service market trend in the forecast time frame.
Impact of COVID-19 on the global riding services market
During the pre-pandemic period, passenger transportation services grew exponentially thanks to benefits such as lower travel expenses, road congestion, as well as emissions levels. However, as a result of the effects of COVID-19, the market share of the insurgency as a means of transportation has shrunk. According to a research study by Scholastica, the use of transportation that commends riding has dropped dramatically during the pandemic. The decrease in ride-hailing trips was much greater than the decrease in the total number of passengers. Second, during the pandemic, non-shared flight distances were much longer, although flight times were not necessarily longer due to problems with the overall traffic network. Third, as the distance between census spaces continued to increase, the number of short trips between census spaces decreased. According to the results of this study, travelers in the pre-pandemic period were more likely to use horseback riding on short trips, but these trips decreased during the global epidemic.
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The global car reservation services market has been segmented by Acumen Research and Consulting on the basis of supply and geography. By offer, the market is segmented into electronic calling, leasing and car sharing services. According to the mobile transport services market forecast, the electronic transport services segment is expected to retain significant market shares in the coming years.
Regional Forecast of the Global Flight Services Market
The global taxi ordering services market is segmented into five geographical regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
North America has the largest market share; The Asia Pacific region will experience the fastest growing CAGR of the horse riding service market.
North America led the car reservation services market in 2021 and is expected to continue to do so through the remainder of the forecast period. The presence of major companies in this region is one of the main factors driving the growth of the regional market. According to the ICCT report, Uber controls more than 65% of the US industry. Lyft and other major players account for nearly all non-Uber rides in the US. Regardless, the rapid expansion of these services has had a side effect on urban centers, accelerating protests and lawsuits, as well as regulations. The proportion of the elderly American population who used Internet-connected mobile apps that matched them with car owners at least once rose from 15% to 36% between 2015 and 2018, according to a report published by the Inter-American Development Bank. These elements support the overall growth of the passenger transportation services market.
In contrast, according to the Transportation Services Industry Analysis, the Asia Pacific Car Reservation Services Market is expected to be the fastest rising compound annual growth rate (CAGR) in the next few years. The increasing modernization of riding services contributes to the expansion of the regional market of Asia Pacific. Due to the impact of charging infrastructure, electric cars are becoming more and more attractive for rides. These notable developments are fueling the growth of the regional market, which in turn is helping in the growth of the overall market.
the future to Riding Services Market in Latin America
According to an IDB report, the digital revolution has the potential to improve the performance of markets characterized by poor problem coordination and high levels of fragmentation, such as the transportation market. Latin America’s current adoption of online portals, especially in car reservation services, is impressive. These recent developments enhance the availability of better job opportunities in this region. Building on these noteworthy developments, it leverages transportation service platforms to improve the lives of Latin American drivers, such as enabling the participation of women and immigrants as motorists, promoting economic inclusion and financial literacy, and other initiatives.
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Horse riding services market players
Some of the notable passenger transportation services market companies are Addison Lee, Bolt Technology OÜ, Didi Chuxing, Gett, My Taxi, Uber, BlaBlaCar and Grab Holdings Inc. and Lyft, Ola, ViaVan, Yandex.taxi, Curb Mobility, and Zoox.
- In April 2021, Gett signed a partnership with Curb to increase business travel after the pandemic. The partnership between the two companies will enable it to offer its corporate clients on the platform of limousines, local taxis and transportation services such as Lyft.
- In June 2021, Hyundai Motor Group and Grab Holdings Inc. (Grab) is in a strategic partnership in mobility services. The first phase of the cooperation will accelerate the adoption of electric vehicles in Southeast Asia. The group and delivery partners will collaborate to develop pilot programs and new initiatives that lower barriers to entry for partner organizations by lowering total cost of ownership and reducing scale anxiety.
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