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Ride Sharing Market is Expected to Achieve 667.9 Million Members by 2025 in China
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A total of 20.81 billion ride sharing services were offered in China in 2017. The overall ride sharing member size in China has achieved 207.4 million in 2017. The percent share breaks down as follows: commuting ride sharing 45.6%, dynamic ride sharing 32.3%, and fixed long distance ride sharing services 22.1%.Ride sharing services in China are of three types: commuting, dynamic, and fixed long-distance. Commuting and dynamic ride sharing are the most common. They target working adults, university students and intra-city travelers. Fixed long-distance ride sharing is less common due to the large national land area in China. Thus, it is less compatible in regard to time and cost savings when compared to air, rail and bus travel.Internet Plus Strategy encourages the utilization rate increment of passenger vehicle. The common utilization rate is expected to be raised from 4% up to 15% through employing ride sharing services. The strategy will also help solve the congestion issue, especially in tier I cities in China, through the adoption of real-time traffic data. High-occupancy lanes have been established in major cities such as Shenzhen and Chengdu.The Chinese ride sharing market is well developed, with Didi, Dida, AA Pinche, Laihui, and Tiantian being the major participants. These companies lead in terms of number of service offerings, riders. and driver subscriptions. Didi is the market leader. Its large geographical coverage offers a key competitive advantage. The company achieved a 71.4% share of service offerings, 53.1% of riders, and a 49.7% share of drivers in 2017. It was followed by Dida with a 28.5% share of service offerings. Commission-based earnings and monthly subscriptions drive revenues. Commission-based revenue is the charge per ride – 10% in the case of Didi; $0.15 or $0.75 in the case of Dida – and varies by the number of passengers. Monthly subscription revenue ranges $600-$1,400, and varies by the number of rides per month.This research provides an overview of the ride sharing market, along with an analysis of the market, government policies and regulations, market drivers and restraints. It also details profiles of leading ride sharing companies and lists the growth opportunities. It closes with offering conclusions and am outlook for the future.
The aim of this study is to evaluate the ride sharing market and differentiate ride sharing business models in China. It emphasizes the investment, growth opportunities and partnerships within the automotive industry. It is also analogizing the stratagems of the main ride sharing companies in China.
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