According to MarkNtel Advisors' research report, "UAE Shared Mobility Market Analysis, 2021," the market is likely to grow at a CAGR of 25.1% in the forecast period of 2021-26. The most prominent factor for the exponential growth of the market is the growing penetration of associated vehicles & smartphones that are escalating the market. Besides, the increasing on-road vehicle traffic & fuel costs, reduced parking spaces in developed areas across the UAE shall further stimulate the market in the coming years.
Key questions answered in the study
Ride-Hailing Dominates the Market with the Fastest Growth
Based on the Service Type, the UAE Shared Mobility Market segments into Two-Wheeler Sharing, Ride-Hailing, Ridesharing, Car Rental, Car Sharing, Bus/Shuttle Service. Of them all, the Ride-Hailing segment dominated the market in the previous years and is likely to continue its dominance with the largest share in the forecast years. It owes prominently to the rising internet penetration, especially in emerging & densely populated areas of the UAE. The development of service models to ensure utmost customer satisfaction is another critical aspect propelling the overall segment growth. Leading players are actively involved in the market and supporting the overall market growth.
"UAE Shared Mobility Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Shared Mobility providers across the region. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
UAE to Witness the Fastest Growth
The UAE Shared Mobility Market is growing exponentially at a robust pace, and in UAE, it is likely to hold the fastest market growth in the forecast years of 2021-26. It owes to the on-road vehicle traffic & rising prices of vehicle ownership steadily rising in the country. Besides, the rapidly increasing urban population and transportation infrastructure investments by governments and market players are increasing the potential for these shared mobility services. Therefore, based on these factors, UAE is very likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "UAE Shared Mobility Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the UAE Shared Mobility Market are Uber, DiDi Chuxing, Drive now, Lyft, Ekar, Udrive, etc. The pay-per-minute model, operated by Ekar and Udrive, is the fastest growing shared mobility segment in the UAE, further aided by the government through free RTA parking, thus boosting the growth of the Shared Mobility market.