The escalating road congestion levels, especially in the urban areas, is a major factor responsible for the increasing demand for shared mobility solutions in India. The increasing population levels in several cities of the country has contributed significantly toward the huge population of daily commuters all over the country. This is one of the biggest factors driving the progress of the Indian shared mobility market. The regulatory bodies and governments in the various urban cities such as Mumbai, Bengaluru, and Delhi and National Capital Region (NCR) are increasingly implementing policies and measures for encouraging the adoption of shared mobility services.
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Due to the above-mentioned factors, the valuation of the Indian shared mobility market is predicted to rise from $630.7 million to $3,466.7 million from 2018 to 2024. The Indian shared mobility market is expected to exhibit a CAGR of 27.6% during the forecast period (2019—2024). The most widely used vehicles in shared mobility solutions are— two-wheelers, buses/vans, and cars. Amongst these, the two-wheelers are predicted to register the highest growth rate in the Indian shared mobility market during the forecast period, because of the growing popularity of two-wheeler sharing services in Hyderabad and NCR.
Therefore, it can be concluded that the adoption of shared mobility solutions will increase considerably in India in the coming years, owing to the increasing road congestion in urban areas across the country and the greater convenience offered by these services as compared to the private vehicles.
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Market Segmentation by Service Type
- Two-Wheeler Sharing
- Ride Sharing
- Ride Hailing
- Car Rental
- Bus/Shuttle Service
Market Segmentation by Vehicle Type
Market Segmentation by Commuting Pattern
- Daily Commuting
- Last-Mile Connectivity
- Occasional Commuting
Market Segmentation by End Use
Market Segmentation by Region