Car Sharing Act has the authority to give priority to shared vehicles with regard to parking fees and parking spaces on public road for the benefits of the end users. The benefits will be given to those who have registered and identified as car sharing vehicles with the authorities. The Car Sharing Act also allows car sharing providers to apply for compound sites on federal town roads. Such sites can only be requested by providers offering pre-bookable vehicles at specific collection and return points. According to the American Association of Automobiles (AAA), the average annual costs to own and operate vehicles are about USD 8,698.
The article cited AMA's "Global Car-Sharing Market Study" explored substantial growth in Europe and CAGR of 19.57%. According to the report, Rise in Fuel Prices, Public Policy in Shared Mobility
is one of the primary growth factors for the market. Government Initiatives to Increase the Usage of the Services
is also expected to contribute significantly to the Car-Sharing market. Overall, Business
applications of Car-Sharing, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Model, such as P2P, is boosting the Car-Sharing market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Car-Sharing market identified that the demand is rising in many different parts of the world as "Development of Autonomous Vehicles for Ride Sharing
". Furthermore, some recent industry insights like "In September 2018, Uber revved up its Canadian operations with a new engineering hub in Toronto and the expansion of its self-driving vehicle center in the city. The company said the engineering hub—Uber’s eighth outside the US—will be complete by early 2019 and will form the “building blocks” for stronger and faster global deployment of new offerings such as jump bikes and e-scooter rentals." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Car-Sharing market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Car-Sharing market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Car-Sharing market size is calculated using market estimation process, the Car-Sharing market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Car-Sharing market size has been validated using both top-down and bottom-up approaches.