The global Carpooling Software market size is projected to grow at a CAGR of 18.7% from 2022 to 2030. Carpooling is the sharing of car journeys so that more than one person travels in a car. It reduces pollution since fewer cars are on the road and creates an economic advantage for individuals especially if they share expenses and meet new people on their travels. Traveling with others can make a boring journey much funnier and enables people to socialize with other passengers which are stress-relieving. Many websites and applications have been developed to aid people to meet to share rides. Those applications enable users to create and share their trips, find passengers, know how many miles each rider has cycled, as well as rates for different destinations like airports or hotels.
COVID-19 Impact Analysis
One of the biggest impacts of the recent pandemic has been on carpooling software sales. While carpooling software sales were steady leading up to the pandemic, sales dropped by over 50% in the last 6 months. Industry professionals attribute this to the fact that carpooling software prices are being slashed and sales are only being driven by fear of the deadly virus. Sales are expected to pick up when the pandemic has passed, although some people worry that carpooling software will have lost its appeal completely.
Carpooling Software Market Dynamics
With the rapid increase in inflation all around the world, people are looking for cheaper options, especially for the commute. Though public transport provides the cheapest option for commute, it does have inconveniences regarding the time consumption and lack of reach to exact locations, hence people have started adopting carpooling, it offers cheaper and more convenient transport options due to which the demand for the carpooling software is increasing. Additionally growing government incentives for the reduction of the number of cars on the road are also fueling the market.
Ø Increasing Government Initiatives for the reduction of Carbon Emission
Government initiatives designed to minimize the number of greenhouse gases released into our atmosphere are likely to encourage car-pooling in metropolitan cities. Major metropolitan cities have traffic congestion which is a result of an increase in the number of vehicles on the road, which means more carbon emissions. For example, New York, Beijing, and Tokyo are among the top ten countries with the highest amount of carbon emissions in our atmosphere today. In an attempt to reduce these numbers, governments, companies and organizations alike are encouraging car-pooling in metro areas as a way for people to commute without adding to all of this toxic pollution by simply limiting the number of vehicles on roads. For example, last year China introduced a new law called “Pending Vehicles” that was intended to cut back on emission rates in China’s most populated city: Shanghai.
- Lack of awareness and understanding
A primary barrier to carpooling is the lack of awareness and understanding. Carpooling is known to be a good way to reduce carbon emissions and traffic congestion. This process usually requires coordination and communication between car riders and drivers, which can be difficult to coordinate with people who are not acquaintances. Drivers and passengers often don’t know each other or have mutual respect for each other.
Carpooling Software Opportunity:
- Growing Investment by large players in the Automobile Industry
Automakers are increasingly investing in carpooling services to cater to the growing demand for car-sharing options. For instance, BMW and Daimler have created a partnership allowing them to expand their reach geographically. Similarly, Tesla announced its plan to launch an application allowing customers to request a ride from one of Tesla’s self-driving vehicles in February 2020. The increasing investments from automakers into the sale of cars aligned with a fleet of autonomous vehicles will positively impact the overall carpooling industry in the coming years.
Carpooling Software Segment Overview
Based on type, the global Carpooling Software market has been divided into Standalone Platforms and Integrated. Integrated software is expected to gain the highest growth over the forecasted period due to the growing demand for all-in-one software.
By Application, the global Carpooling Software market has been segmented into Businesses, Individuals, and Schools. The Business segment is expected to witness the highest growth in the forecasted period due to the increasing initiatives by large companies for enabling carpooling for their employees.
Global Carpooling Software Market Share, by Segmentation
Based on region, the global Carpooling Software market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Carpooling Software market followed by the European region.
North America Market
The automotive pedestrian protection system market in the North American region held the dominant position in 2021 and is expected to retain its dominance over the forecast period owing to the increasing demand for public transportation in the region. Among the various cities in the region, San Francisco is widely known for having a system of public transportation that is considered widely accessible as well as cost-effective. Thus, carpooling software is widely expected to gain demand in the market by catering to the need of the customers. In addition, the market has benefited from the increasing number of business startups in the region.
It is a fact that Carpooling Software Market is growing exponentially in Europe. There are several reasons behind this fact. Firstly, the presence of a large number of developers and software companies in the market. Moreover, the existence of a developed transport and transportation infrastructure in the market positively impacts the growth of Carpooling Software market. Fourthly, the presence of a large number in the market.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Uber, Ola BlaBlaCar, Karos, and Carma lead the global Carpooling Software business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Wunder Carpool
- SPLT (Splitting Fares)
- Waze Carpool
- Shared Rides (Lyft Line)
- Via Transportation
- Zimride by Enterprise
- Scoop Technologies
- Ola Share
- Meru Carpool
Scope of the Report
Global Carpooling Software Market, by Type
- Standalone Platform
Global Carpooling Software Market, by Application
Global Carpooling Software Market, by Region
- North America
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2030: XX Billion|
|CAGR||18.7% CAGR (2022-2030)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||Uber, BlaBlaCar, Wunder Carpool, Karos, Carma, SPLT (Splitting Fares), Waze Carpool, Shared Rides (Lyft Line), Via Transportation, Zimride by Enterprise, Scoop Technologies, Ola Share, SRide, Meru Carpool, Grab and others|
|Key Market Opportunities||Increasing Government Initiatives for the reduction of Carbon Emission|
|Key Market Drivers||Growing Investment by large players in the Automobile Industry|
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Carpooling Software market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Carpooling Software market historical market size for the year 2020, and forecast from 2021 to 2028
- Carpooling Software market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Carpooling Software market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Carpooling Software Market FAQs
- What is the study period of this market?
- The study period of the global Carpooling Software market is 2020 – 2030
- What is the growth rate of the global Carpooling Software market?
- The global Carpooling Software market is growing at a CAGR of ~ XX% over the next 7 years
- Which region has the highest growth rate in the global Carpooling Software market?
- Europe is expected to register the highest CAGR during 2022 – 2030
- Which region has the largest share in the global Carpooling Software market?
- North America holds the largest share in 2021
- Who are the key players in the global Carpooling Software market?
- Uber, BlaBlaCar, Wunder Carpool, Karos, Carma, SPLT (Splitting Fares), Waze Carpool, Shared Rides (Lyft Line), Via Transportation, Zimride by Enterprise, Scoop Technologies, Ola Share, SRide, Meru Carpool, Grab and others are the major companies operating in the global Carpooling Software market.
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- Yes, we offer 16 hours of analyst support to solve the queries
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