Introduction:
On-demand transportation (ODT) services provide passengers with transportation that
meets their individual needs and requests. ODT booking can typically be done using
mobile apps or websites and passengers can choose their pick-up and drop-off location
within the service area. ODT vehicles tend to be smaller and more agile than traditional
buses or taxis, enabling them to navigate narrow streets and crowded areas more
effectively.
ODT services provide several advantages over traditional transportation options. First,
ODT services offer greater convenience since passengers can book rides quickly at their
location of choice; secondly, ODT rides may be more affordable - particularly on short
trips; and finally they help to reduce traffic congestion and pollution as they operate on
demand without requiring passengers to own a car.
ODT services have quickly become a global phenomenon and now can be found in major
cities around the globe. Popular examples of ODT services are Uber, Lyft, and Via; each
provides passengers with various vehicle choices including cars, SUVs and vans;
passengers can also opt for shared ride services which often prove more affordable than
private rides.
In 2022, the Global On-Demand Transportation Market was valued at USD 157.1
Billion. Between 2023 and 2032, this market is estimated to register the highest CAGR
of 19.4%. It is expected that this market will reach USD 885.0 Billion by 2032.
Below are top 10 companies for On-demand transportation market
1. Ola Inc.:
Ola Inc. was established in India in 2010 and quickly emerged as one of the country's
premier ride-hailing platforms, providing various modes of transportation including taxis,
auto rickshaws and shared rides. Ola expanded internationally into countries like United
Kingdom, New Zealand and Australia before venturing into electric mobility through Ola
Electric division, producing scooters with charging infrastructure for this market
segment. Ola's focus has always been innovation as well as cost competitive pricing in its
home country market.
2. BlaBlaCar :
BlaBlaCar is a French long-distance ridesharing service founded in 2006 that connects
drivers traveling between cities with passengers who share similar travel itineraries.
Since then, it has become one of the major players in Europe's sharing economy as it
offers cost-effective and environmentally friendly alternatives to conventional long
distance transport methods like buses and trains.
3. Uber Technologies Inc.:
Uber Technologies Inc., founded in 2009, has quickly become a globally acclaimed
transportation network company since their introduction into the ride-sharing market in
2009. They pioneered smartphone app-driven ride sharing by enabling users to request
rides using an application available across several countries; including UberX, UberEats
and Freight services. Uber's innovative mobility approach has dismantled traditional taxi
services while shaping future of transportation initiatives like autonomous vehicles.
4. Careem:
Careem was established in 2012 as a Dubai-based ride-hailing platform operating
primarily across Middle East and North Africa. In 2019, Careem was acquired by Uber to
strengthen their presence in this region while expanding their services further.
5. Grab:
Grab, based in Singapore and founded in 2012, is an industry leader in Southeast Asia for
ride-hailing and food delivery services. Offering transportation, delivery, digital
payments and food delivery solutions - its vision is to become an everyday app for
Southeast Asians providing essential services for the region's expanding digital economy.
6.Daimler AG:
Daimler AG is a German multinational corporation known for its automotive products.
The company owns several prestigious car brands, such as Mercedes-Benz, and has
explored developing electric and autonomous vehicles. Daimler is dedicated to
sustainable mobility and innovative practices within the automotive industry.
7. Ford Motor Company:
Ford Motor Company, established in 1903, is an iconic American automaker that has
emerged as a global leader. Ford has pioneered innovations such as electric and
autonomous vehicles that represent the future of mobility.
8. General Motors Company:
General Motors Company, or GM, is one of America's premier automakers, known for
such iconic brands as Chevrolet, Cadillac and GMC. Furthermore, GM has invested
heavily in electric vehicle technology and autonomous driving - showing an innovative
outlook to an ever-evolving automotive landscape.
9. Gett Inc :
Gett Inc is an international ride-hailing service with operations in multiple countries including the US, Israel and Russia. Their primary services focus on corporate
transportation solutions and taxi services that cater specifically to business travelers and
enterprises.
10.Robert Bosch GmbH:
Robert Bosch GmbH is a German multinational engineering and electronics company
with a substantial presence in the automotive sector. Bosch provides technology and
components to automakers for vehicle safety, efficiency, and connectivity improvement
projects.
11. International Business Machines:
International Business Machines Corporation (IBM) is a multinational technology and
consulting firm with significant involvement in multiple aspects of automotive
technology, including connected vehicles and data analytics for improved transportation
solutions.
Suggested Reading:
Global On-Demand Transportation Market By Service (Car Sharing, Car Rental, E-Hailing,
and Station-Based-Mobility), By Vehicle Type (Micro Mobility, and Four Wheeler), By
Region and Companies – Industry Segment Outlook, Market Assessment, Competition
Scenario, Trends, and Forecast 2023-2032.
Recent development:
●
Micromobility's Rise: Micromobility options such as e-bikes, scooters and
mopeds have grown increasingly popular in urban environments due to their
convenience, affordability and environmental friendliness. On-demand
transportation companies are responding by offering micromobility services or
integrating them into existing platforms.
● Multi-modal mobility: Multi-modal mobility refers to using multiple forms of
transportation for one journey. This could involve public transit, on-demand
transportation, micromobility solutions such as walking or biking and more.
On-demand transportation providers are increasingly joining forces with other
transportation providers in offering multi-modal mobility options to their users.
● Artificial Intelligence (AI) and Machine Learning (ML): Artificial intelligence and
machine learning (ML) are being combined to increase the efficiency and
effectiveness of on-demand transportation services, such as on-demand taxi
services. AI can predict demand for rides, optimize routes, match riders with
drivers and personalize user experiences while also pinpointing areas for
improvement.
● Transition to Electric Vehicles (EVs): On-demand transportation companies are
rapidly adopting electric vehicles (EVs), in part to reduce environmental impact
and save on fuel costs, as well as to become more affordable with greater ranges.
As more on-demand services migrate towards using these types of EVs for
on-demand services.
● Expanding on-demand transportation services into new markets: On-demand
transportation companies have seen tremendous expansion into new markets
such as rural regions and developing nations due to factors like rising internet
penetration rates and incomes.