Saturation of smartphones and linked vehicles is in creasingthe acceptance of on-demand transportation services such as car sharing, e-hailing, station-based mobility and car rental. These facilities permitoperators to modify, pre-book, or cancel their taxi/car booking reservations via mobile applications such as Gett, Ola and Uber. Developments in IT organization and rising usage of car sharing facilities by millennials are estimated to propel the acceptance of on-demand transportation services.
However, issues related to high costs and poor connectivity of emerging infrastructure may restrain the development of the On-Demand Transportation industry. Consequently, car sharing facility providers are concentrating on emerging car-sharing applications, which do not need internet connectivity for accessing them. On-Demand Transportation market may be explored by service type, vehicle type, vehicle connectivity, and geography.
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On-Demand Transportation may be explored by service type as E-Hailing, Station-Based Mobility, Car Sharing, and Car Rental. The e-hailing service type of on-demand transportation is anticipated to be the fastest-developing sector. The increasing penetration of car sharing, and smartphones applications are enhancing this segment. Rising cost of fuel and an increasing traffic are expected to boost the development of the sector. In addition, the several development programs started by numerousad ministrations are also likely to bolster On-Demand Transportation industry development.
On-Demand Transportation may be explored by vehicle type as Four-Wheeler, and Micro Mobility. Micro Mobility sector of On-Demand Transportation vehicle type is estimated to grow in the forthcoming period. It offers several benefits such as flexible mobility and fuel consumption. Additionally, it permits energy efficiency and improved cost, which are driving users to choose this vehicle type. Stringentrules regarding environment conservation across the globe, associated with sternness relating to vehicle manufacturing are encouraging operators to accept this vehicle type.
On-Demand Transportation may be explored by vehicle connectivity as V2V, V2P, V2I, and V2N. The vehicle-to-pedestrian (V2P) connectivity sector is anticipated to grow at a CAGR of 22.3% over the upcoming period. V2P helps link pedestrians with vehicles via a wireless system and improves security by providing real-time traffic flow data.
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