On-Demand Transportation Market is Ensuing at a CAGR of 20.4% during the forecast period
Rising penetration of smartphones and connected vehicles is increasing the adoption of on-demand transportation services such as e-hailing, car sharing, car rental, and station-based mobility. These services enable users to pre-book, modify, or cancel their taxi reservations via mobile applications such as Uber and Gett. Advancements in IT infrastructure and growing usage of car sharing services by millennials are anticipated to drive the adoption of on-demand transportation services in Europe. The Asia Pacific regional market is estimated to witness considerable growth over the forecast period, owing to increased traffic and fuel prices. Government initiatives, such as Smart Mobility 2030 plan of the Land Transport Authority of Singapore, are also likely to bolster the growth of the market. However, issues regarding poor connectivity and high costs of developing infrastructure may hamper the growth of the market. Therefore, car sharing service providers are focusing on developing