PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1531090
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1531090
Demand-Responsive Transit Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Market Overview
By the end of 2024, the demand-responsive transit market will generate USD 462.4 million in revenue. It is projected to grow at a CAGR of 70.5% from 2024 to 2030, and will reach USD 11,378.5 million in 2030. The market is expanding because of growing urbanization, the need for flexible and convenient transportation, increased pollution and traffic, the development of contemporary technology, changing customer preferences, and laws and regulations from the government.
Market Insights
Recent trends of ride-hailing services and application-based taxis let customers simply book rides using their smartphones.
Due to this, customers can book a ride without having to phone a dispatcher or make an offline taxi reservation. Additionally, it saves plenty of time because all procedures may be completed quickly using a mobile application.
The applications offer a variety of vehicles, including SUVs and shuttles, for users to select from. Due to this, passengers can select the kind of vehicle that best suits their requirements.
The main factors propelling the demand-responsive transit industry are these services' ease and flexibility. Fixed-route transportation systems in urban areas create problems for passengers since they are unable to meet the growing demand from passengers.
DRT systems allow users to reserve transportation services in advance for the exact location they need to go, which helps lessen reliance on traditional public transportation options.
The industry is expected to see growth in the upcoming years due to the increased need for convenient and adaptable transportation options brought on by the fast urbanization. Additionally, this will modernize transportation and change urban mobility.
These systems need a lot of vehicles in order to profitably and efficiently meet passenger demand.
Acquiring and maintaining a large fleet of vehicles is difficult, particularly in places with inadequate transportation infrastructure or scarce resources.
Ridesharing, which includes services such as Ola and Uber, is the most popular mode of transportation, accounting for the largest market share of 40% in 2024. This is because ridesharing is affordable, easy to use, and convenient.
Several businesses are investing in expanding their service networks, innovating, and enhancing the quality of their services.
Cars will hold the larger market share of 75% in 2024, and it is also the faster-growing category. This is because of the wide range of options, ease of use, renowned brand, and established infrastructure for car services.
Europe is projected to grow at the fastest rate, with a CAGR of 70.9% during 2024-2030 because of its well-established transportation infrastructure.
The Rural and Urban Bus Challenge initiatives have provided funds to local authorities, allowing them to develop demand-responsive transit, hence encouraging market growth.
APAC will hold the largest market share of 50% in 2024. This is because of urbanization and population growth, which raise the need for adaptable and effective transportation options, particularly in metropolitan areas.
The middle class is expanding quickly in the region and is looking for convenient transportation options that are also reasonably priced.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by transport service
- 1.4.2. Market size breakdown, by vehicle
- 1.4.3. Market size breakdown, by booking type
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Transport Service (2019-2030)
- 6.3. Market Revenue, by Vehicle (2019-2030)
- 6.4. Market Revenue, by Booking Type (2019-2030)
- 6.5. Market Revenue, by Region (2019-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Transport Service (2019-2030)
- 7.3. Market Revenue, by Vehicle (2019-2030)
- 7.4. Market Revenue, by Booking Type (2019-2030)
- 7.5. Market Revenue, by Country (2019-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Transport Service (2019-2030)
- 8.3. Market Revenue, by Vehicle (2019-2030)
- 8.4. Market Revenue, by Booking Type (2019-2030)
- 8.5. Market Revenue, by Country (2019-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Transport Service (2019-2030)
- 9.3. Market Revenue, by Vehicle (2019-2030)
- 9.4. Market Revenue, by Booking Type (2019-2030)
- 9.5. Market Revenue, by Country (2019-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Transport Service (2019-2030)
- 10.3. Market Revenue, by Vehicle (2019-2030)
- 10.4. Market Revenue, by Booking Type (2019-2030)
- 10.5. Market Revenue, by Country (2019-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Transport Service (2019-2030)
- 11.3. Market Revenue, by Vehicle (2019-2030)
- 11.4. Market Revenue, by Booking Type (2019-2030)
- 11.5. Market Revenue, by Country (2019-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Transport Service (2019-2030)
- 12.3. Market Revenue, by Vehicle (2019-2030)
- 12.4. Market Revenue, by Booking Type (2019-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Transport Service (2019-2030)
- 13.3. Market Revenue, by Vehicle (2019-2030)
- 13.4. Market Revenue, by Booking Type (2019-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Transport Service (2019-2030)
- 14.3. Market Revenue, by Vehicle (2019-2030)
- 14.4. Market Revenue, by Booking Type (2019-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Transport Service (2019-2030)
- 15.3. Market Revenue, by Vehicle (2019-2030)
- 15.4. Market Revenue, by Booking Type (2019-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Transport Service (2019-2030)
- 16.3. Market Revenue, by Vehicle (2019-2030)
- 16.4. Market Revenue, by Booking Type (2019-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Transport Service (2019-2030)
- 17.3. Market Revenue, by Vehicle (2019-2030)
- 17.4. Market Revenue, by Booking Type (2019-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Transport Service (2019-2030)
- 18.3. Market Revenue, by Vehicle (2019-2030)
- 18.4. Market Revenue, by Booking Type (2019-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Transport Service (2019-2030)
- 19.3. Market Revenue, by Vehicle (2019-2030)
- 19.4. Market Revenue, by Booking Type (2019-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Transport Service (2019-2030)
- 20.3. Market Revenue, by Vehicle (2019-2030)
- 20.4. Market Revenue, by Booking Type (2019-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Transport Service (2019-2030)
- 21.3. Market Revenue, by Vehicle (2019-2030)
- 21.4. Market Revenue, by Booking Type (2019-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Transport Service (2019-2030)
- 22.3. Market Revenue, by Vehicle (2019-2030)
- 22.4. Market Revenue, by Booking Type (2019-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Transport Service (2019-2030)
- 23.3. Market Revenue, by Vehicle (2019-2030)
- 23.4. Market Revenue, by Booking Type (2019-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Transport Service (2019-2030)
- 24.3. Market Revenue, by Vehicle (2019-2030)
- 24.4. Market Revenue, by Booking Type (2019-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Transport Service (2019-2030)
- 25.3. Market Revenue, by Vehicle (2019-2030)
- 25.4. Market Revenue, by Booking Type (2019-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Transport Service (2019-2030)
- 26.3. Market Revenue, by Vehicle (2019-2030)
- 26.4. Market Revenue, by Booking Type (2019-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Transport Service (2019-2030)
- 27.3. Market Revenue, by Vehicle (2019-2030)
- 27.4. Market Revenue, by Booking Type (2019-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Transport Service (2019-2030)
- 28.3. Market Revenue, by Vehicle (2019-2030)
- 28.4. Market Revenue, by Booking Type (2019-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Via Transportation Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Uber Technologies Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Lyft Inc.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Moovit App Global Ltd.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. ANI Technologies Private Limited
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Transdev Group S.A.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Zemcar Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Spare Labs Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. SUOL INNOVATIONS LTD
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Comuto SA
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Grab Holdings Limited
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
