Outlook on the Car Sharing Global Market to 2025 - by Car Type, Business Model, Application and Region
DUBLIN, April 8, 2021 /PRNewswire/ -- The "Car Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global car sharing market grew at a CAGR of around 8% during 2014-2019. Carsharing refers to a car rental service wherein individuals rent cars for a short time. It supports community transit, helps achieve environmental goals, decreases personal car ownership, reduces total distance traveled by the vehicle, improves urban land use and development, and provides affordable access to vehicles. At present, the rising need for cost-effective and convenient mobility services, in confluence with advancements in technology that facilitate simplified access to shared mobility platforms, is positively influencing the demand for carsharing.
Furthermore, various organizations are relying on corporate carsharing as it enables employees to stay punctual, reduces fleet management costs of the company and eliminates the requirement for large parking spaces. However, due to the sudden outbreak of the coronavirus disease (COVID-19) and consequent lockdowns imposed by governments of several countries, the market has been adversely impacted. It is anticipated to witness growth once normalcy is regained. Looking forward, the publisher expects the global car sharing market to exhibit moderate growth during the next five years.
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