Ridesharing to Continue Growing, Target Niche Segments, Accelerate in Europe
A new industry report shows that the grow in the ridesharing market — beyond Uber and Lyft — is expected to continue growing in North America and Europe, particularly as hungry investors jump into the market and the sector increasingly targets specific niches.
According to Frost & Sullivan analyst Geraldine Priya., “Ridesharing can reduce the number of cars needed on urban roads globally by up to 2.49 million vehicles, decrease vehicle kilometres travelled by 40.19 billion and lower the corresponding end-of-life (EOL) emissions by 15.9 megatons.”
As business models continue to evolve in this new market, the most popular ones like RidewithVia and Matchrider combine the benefits of ridesharing and taxi hailing activity in this space, vehicle original equipment manufacturers (OEMs) are interested in partnering with or in investing in ridesharing ventures.
Some prominent deals in the ridesharing market include BMW’s investment in Scoop, GM’s investment in Flinc and Daimler’s investment in Via. Technology companies have also joined in Facebook, for example, recently announced plans to add a ridesharing option to its events page.
In Europe, France is the biggest market for ridesharing, holding almost 26 percent of it, though this spot may well be overtaken by Germany by 2025, noted the Frost & Sullivan report.
In fact, in Europed, Germany, France, the UK, Italy and Spain together make up 85 percent of the ridesharing market. The largest player in France is BlaBlaCar, which serves almost 10 percent of the population
Corporate ridesharing is the most popular in the UK. The country boasts major corporate ridesharing players like Liftshare and Faxi. Corporate ridesharing is also picking up in other countries with players such as Wayzup and Twogo offering customized solutions to corporates.
However, large sections of prospective users are still relatively unaware of the ridesharing concept or the actual differences between ridesharing, hailing and carsharing.
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