Car-as-a-Service market has been trending. It’s a new trend but a lot of people have shown their interest in utilizing such services because of cost-efficiency. Since mobility has always been a megatrend, all emerging Car-as-a-Service companies are now providing even more flexible transport solutions. New applicates and segments in this industry has driven the recent modification in the market place and also created both opportunities and challenges for existing operators. Over the past one decade, mobility has been emerging as a new platform and it has now steered the Car-as-a-Service industry towards a much more rewarding future.
The factors pertaining to growth in the global market include the ever-increasing demand in different segments and also better economical situations in the developed countries. Now, a lot of Car-as-a-Service companies have started expanding their businesses. They are doing this around airports because high cost of airport transportation creates a great opportunity for Car-as-a-Service business owners. Market leaders are creating new strategies every day which has been providing better opportunity for both the consumers and the service providers. Furthermore, the alliances with airlines and other transportation fleets is becoming a new approach for commercializing the Car-as-a-Service in the global market.
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The manufacturers in global market adopt different approaches when segmenting the target market. For this product, the market is chiefly divided on the basis of geography, demography, psychography, and consumer behavior. The product purchase differs in terms of interests, preferences, values, and they also vary dramatically through states and countries. The market can however be categorized on the basis of end-user, who are utilizing the product, and in what manner. When sorted in terms of end-users, the global market has following categories: Car-as-a-Service Ride Service and Car-as-a-Service Rental Service. When the global market of this product is segmented on the basis of application, it has the following segments: Car-as-a-Service online and offline.
The company’s manufacturing the product target their customers on a defined geographic boundary. These regional segments create various target groups according to their geographies and understanding the climatic regions. One of the biggest markets for product is North America, and next to this stands UK. In 2018, both the countries allowed the distribution and sales of the product to over a million retailers across the country and in the global market as well. Other significant manufacturers and consumers include several Asian (Pakistan, India, China), African (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria), European, and South American regions. Secondary consumers are Southeast Asia (Malaysia, Singapore, Philippines, Indonesia, Thailand, Vietnam) and South America (Brazil, Mexico, Colombia), and Middle East (Saudi Arabia, Yemen, Oman, Qatar, Bahrain, Kuwait).
Given the broad segmentation, the market is expected to differentiate even further, and expand in terms of revenue as well. In terms of sales, the key players who are dominating global market are as follows: BMW Ag, Ford Motor Company, Lyft, DiDi Chuxing, Uber Technologies, and CARZ rentals.
Table of Contents
Global Car-as-a-Service Market Growth (Status and Outlook) 2019-2024
1 Scope of the Report
2 Executive Summary
3 Global Car-as-a-Service by Players
4 Car-as-a-Service by Regions
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Car-as-a-Service Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion
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