Opting for shared mobility is way more cost-effective than buying an automobile and then maintaining it throughout its lifetime. This is why the Indian shared mobility market will witness a massive 56.8% CAGR between 2020 and 2025. At this rate, the revenue generated from the provision of such services across the country is expected to increase from $1,025.8 million in 2019 to $3,952.8 million by 2025, according to P&S Intelligence.
Key Findings of India Shared Mobility Market
- Ride-hailing services remain ever popular
- Urban road congestion major factor impelling people to share vehicles
- Shared mobility services in India presently used most for occasional commuting
- Use of shared mobility services by corporates to witness rapid rise
- Electric and autonomous vehicles in sharing fleets could offer market players lucrative opportunities
- Service providers focusing on raising funding for service launch and expansion
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