Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Bitcoin and Blockchain Stocks


Uber, Lyft, & Other Ride Sharing Services to See Driver Numbers Double, Reaching 8.6 Million by 2022

 

Hampshire, UK - September 25, 2017 (Investorideas.com Newswire) A new study from Juniper Research has found that a surge in shared transport will continue, with driver and passenger numbers seeing substantial growth over the next 5 years.

The new research, Sharing Economy: Opportunities, Impacts & Disruptors 2017-2022, forecasts that the number of ride sharing drivers will increase from an estimated 4.3 million in 2017, to 8.6 million by 2022, representing an annual average growth of 14.8%.

For more insights, download the free whitepaper: Sharing Economy: 3 Industries Ripe for Disruption

Innovation Drives Ride Sharing

The research found that operators in ride sharing, a market set to represent 47% of sharing economy platform revenues by 2022, are growing established markets through innovation.

Research author Lauren Foye explained: “Players including BlaBlaCar, which is expanding its operations through carpooling, and Lyft which is strengthening its partnerships towards the development of autonomous vehicles, are setting their sights on diversifying their business models in order to out-pace rivals.”

The research found platform providers can expect revenues to almost double across the period; from an estimated $11 billion this year, to $19 billion in 2022, as surge pricing events during times of high demand aid in boosting revenues. The study noted that providers are increasingly relying upon these periods of high demand, with surge pricing events set to account for 30% of total revenues by 2022, yet the research cautions against overuse, which could see cries of extortion from consumers.

Legal Issues Pressure Service Providers

However, Juniper found that in established markets, currently regulatory approaches, coupled with increased wage pressures on workers, will see driver numbers fall. The research found that driver numbers in Western markets will peak at 390,000 in 2020, before falling to 322,000 by 2022, as changes to employment laws in a number of key markets are expected to come into play; including UK legislation post Brexit.

As such providers are encouraged to seek appeasement with their workers, whether that be through restructuring of wages, or through greater clarification of rights, as we have seen attempted by food delivery provider Deliveroo.

Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

Contact:

sam.smith@juniperresearch.com
www.juniperresearch.com


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.


Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max



Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner