Global Car-as-a-Service Market 2019-2023

The global car-as-a-service market size will grow by USD 143.36 billion during 2019-2023. This report offers an analysis of the market based on type (car rental, ride hailing, and car subscription). The car-as-a-service market research report further presents in-depth insights on the growth prospects of the market across APAC, Europe, MEA, North America, and South America. The report analyzes the market’s competitive landscape and offers information on several companies including BMW AG, DiDi Chuxing, Ford Motor Company, Lyft, and Uber Technologies.

Rapid urbanization is encouraging vendors to expand their ride hailing services, which is one of the critical reasons that will drive car-as-a-service market growth in the coming years. Rising urbanization has led to an improved lifestyle of people in developed and developing countries such as China, India, and Brazil. Additionally, urbanization has also increased the purchasing power of people because of the rise in disposable income. These factors are encouraging individuals to opt for ride-hailing services. As a result, vendors have started focusing on enhancing their customer base and are expanding their operations by offering online on-demand cabs for daily commute.

The development of new mobility concepts is encouraging various enterprises to introduce ride-hailing services. Such mobility concepts offer smart traffic management solutions and maximize environmental compatibility. Leasing companies are providing more comfort to their customers by introducing new technologies such as integrated ticketing, smartphone apps, and in-car communications. In addition to these features, there is also an increase in innovations in leasing and subscription services. This will, in turn, drive car-as-a-service market growth at a CAGR of over 18% during the forecast period.

Top car-as-a-service companies covered in this market research report

The car-as-a-service market is fairly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this car-as-a-service industry analysis report will help clients identify new growth opportunities and design innovative strategies to improve their market share.

The report offers a complete analysis of various companies including:

BMW AG

DiDi Chuxing

Ford Motor Company

Lyft

Uber Technologies

Car-as-a-service market segmentation based on geographic regions

APAC

Europe

MEA

North America

South America

APAC will account for the highest car-as-a-service market share market throughout the forecast period. The various measures taken by the Chinese government to restrict registrations of new private vehicles is one of the major reasons for the high growth of the car-as-a-service market in this region.

Car-as-a-service market segmentation based on the type

Car rental

Ride hailing

Car subscription

The car rental segment will account for the highest car-as-a-service market share because of the increasing need for convenient and quality travel services and the rising inbound and domestic tourism in countries such as France and India.

Key highlights of the global car-as-a-service market for the forecast years 2019-2023:

CAGR of the market during the forecast period 2019-2023

Detailed information on factors that will accelerate the growth of the car-as-a-service market during the next five years

Precise estimation of the global car-as-a-service market size and its contribution to the parent market

Accurate predictions on upcoming trends and changes in consumer behavior

The growth of the car-as-a-service industry across various geographies such as APAC, Europe, MEA, North America, and South America

A thorough analysis of the market’s competitive landscape and detailed information on several vendors

Comprehensive details on factors that will challenge the growth of car-as-a-service companies