Dublin, Nov. 25, 2021 (GLOBE NEWSWIRE) -- The "Car Subscription Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global car subscription market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 17% during 2021-2026.
Rapid digitization of the automotive industry across the globe is one of the key factors driving the market growth. With the increasing availability of high-speed internet and utilization of smartphone applications, car subscription service providers are offering online and offline-based platforms to facilitate convenient booking, pick up and drop and maintenance activities.
Moreover, as the coronavirus disease (COVID-19) continues to spread, consumers are minimizing the usage of public transport facilities, such as metro, taxis and buses, and adopting car subscription services to travel in private vehicles.
Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. These innovative technologies provide real-time tracking, consumer feedback, driving analysis, alerts of rash driving, geofencing, engine monitoring and service history facilities.
Other factors, including rising expenditure capacities of the consumers, along with extensive infrastructural developments, especially in the developing economies, are anticipated to drive the market toward growth.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global car subscription market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, service providers, vehicle type, subscription period and end-use.
Breakup by Service Providers
- OEMs and Captives
- Independent/Third Party Service Provider
Breakup by Vehicle Type
- IC Powered Vehicle
- Electric Vehicle
Breakup by Subscription Period
- 1 to 6 Months
- 6 to 12 Months
- More Than 12 Months
Breakup by End-use
- Private
- Corporate
Breakup by Region
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Carly Holdings Limited
- Cluno GmbH (Cazoo Limited)
- Cox Enterprises Inc.
- Facedrive Inc.
- Lyft Inc.
- Onto Ltd.
- OpenRoad Auto Group
- The Hertz Corporation
- Wagonex Limited
- ZoomCar
For more information about this report visit https://www.researchandmarkets.com/r/wkcddu
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