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Global Car-as-a-Service Market 2019-2023
SKU ID : TNV-14032414 | Publishing Date : 11-Mar-2019 | No. of pages : 111
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About this market
A wide range of vehicles with a single subscription package is driving the car-as-a-service market. Users are able to flip between different cars under a single subscription or rental plan. With their own terms and conditions, some subscription plans include long-time rentals allowing users to switch cars on daily, monthly, or weekly basis. In addition, some plans are similar to leasing for a shorter duration offering convenience and comfort. Various OEMs and third-party dealers further offer a different type of cars within the subscription plans. This will further boost the car-as-a-service market growth in the forthcoming years. analysts have predicted that the car-as-a-service market will register a CAGR of over 18% by 2023.
Market Overview
Financial support by service providers to potential drivers
One of the growth drivers of the global car-as-a-service market is the financial support by service providers to potential drivers. Cab service providers are creating a financing program that offers flexible leases to potential drivers for purchasing a car.
The growing use of public transport
One of the challenges in the growth of the global car-as-a-service market is the growing use of public transport. The customers might not opt for CaaS such as ride-hailing due to the increasing public transportation facilities.
For the detailed list of factors that will drive and challenge the growth of the car-as-a-service market during 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented with the presence of several market players. With the growing demand for CaaS from various end-users, vendors are opting for M&A and strategic alliance to improve their market reach and customer base. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
A wide range of vehicles with a single subscription package is driving the car-as-a-service market. Users are able to flip between different cars under a single subscription or rental plan. With their own terms and conditions, some subscription plans include long-time rentals allowing users to switch cars on daily, monthly, or weekly basis. In addition, some plans are similar to leasing for a shorter duration offering convenience and comfort. Various OEMs and third-party dealers further offer a different type of cars within the subscription plans. This will further boost the car-as-a-service market growth in the forthcoming years. analysts have predicted that the car-as-a-service market will register a CAGR of over 18% by 2023.
Market Overview
Financial support by service providers to potential drivers
One of the growth drivers of the global car-as-a-service market is the financial support by service providers to potential drivers. Cab service providers are creating a financing program that offers flexible leases to potential drivers for purchasing a car.
The growing use of public transport
One of the challenges in the growth of the global car-as-a-service market is the growing use of public transport. The customers might not opt for CaaS such as ride-hailing due to the increasing public transportation facilities.
For the detailed list of factors that will drive and challenge the growth of the car-as-a-service market during 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented with the presence of several market players. With the growing demand for CaaS from various end-users, vendors are opting for M&A and strategic alliance to improve their market reach and customer base. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
