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The public carsharing fleet will reach 971,000 vehicles worldwide in 2025

 

Gothenburg, Sweden - April 26, 2021 (Investorideas.com Newswire) According to a new research report by IoT analyst firm Berg Insight, the number of users of carsharing services worldwide is forecasted to grow from 71.9 million people in 2020 at a compound annual growth rate (CAGR) of 21.5 percent to reach 190.3 million people in 2025. Berg Insight forecasts that the number of vehicles used for carsharing services will grow at a CAGR of 16.0 percent from 463,000 at the end of 2020 to 971,000 at the end of 2025. The carsharing fleet grew 10 percent worldwide in 2020 despite the COVID-19 pandemic but the performance varied on regional level. "Several carsharing operators' expansion plans were put on hold during 2020 but are now continued in 2021 instead", said Martin Svegander, Senior Analyst at Berg Insight. Carsharing operators have in the past year adjusted their operations to accommodate new mobility needs during the COVID-19 pandemic such as longer domestic holiday rentals, short trips replacing public transport and taxi as well as an increased demand for roundtrip rentals as a replacement for car ownership.

CarSharing Organisations (CSOs) offer members access to a fleet of shared cars 24/7 from unattended self-service locations. Usage is billed by the minute/hour and by distance driven, with rates that include fuel, insurance and maintenance. Today, most CSOs use station-based networks with roundtrip rental. This operational model requires members to return a vehicle to the same designated station from which it was accessed. Some CSOs also offer one-way carsharing that enables users to return the car to any station operated by the CSO. Another model that is rapidly gaining in popularity is free floating carsharing, which enables members to pick up and drop off cars anywhere within a designated area. Leading vendors of hardware and software telematics platforms enabling carsharing services include INVERS, Convadis, Continental, Octo Telematics, Vulog, Mobility Tech Green, Targa Telematics and Wunder Mobility.

Carsharing services are offered by specialist carsharing companies, car rental companies, leasing companies, carmakers, as well as other players such as public transport operators. Examples of leading CSOs owned by carmakers include SHARE NOW (owned by Daimler and BMW), Free2Move (owned by Stellantis), WeShare (owned by Volkswagen) and Volvo Car Mobility. "The leading carsharing operator in the car OEM segment SHARE NOW today only operates in Europe with a fleet of 11,000 cars serving about 3.0 million members in 2020", said Mr. Svegander. Ubeeqo (owned by Europcar Mobility Group), Sixt Share (owned by Sixt) as well as Zipcar (owned by Avis Budget Group) and LeasysGO! (owned by Leasys) are examples of carsharing companies owned by car rental and leasing players. Specialised CSOs include Times Car Plus in Japan, Socar in South Korea, GoFun and EvCard in China, Enjoy in Italy, Mobility Carsharing in Switzerland, Stadtmobil and Cambio in Germany, Communauto in Canada and GoGet in Australia. "The top 25 carsharing service providers accounted for about 72 percent of the carsharing members and managed close to 58 percent of the carsharing fleet worldwide at the end of 2020", concluded Mr. Svegander.

Download report brochure: The Carsharing Telematics Market

About Berg Insight

Berg Insight is a dedicated M2M/IoT market research firm based in Sweden. We have been specialising in all major M2M/IoT verticals such as fleet management, car telematics, smart metering, smart homes, mHealth and industrial M2M since 2004. Our vision is to be the most valuable source of intelligence for our customers. Berg Insight offers numerous market reports, detailed market forecast databases and advisory services. We provide custom research tailored to your requirements including focussed research papers, business case analysis, go-to-market strategies and bespoke market forecasting. We have provided analytical services to 1400 clients in 72 countries on six continents to date. Our customers range from many of the world's largest mobile operators, IT companies and telecom vendors, to venture capitalists, technology start-ups and specialist consultants.

For additional information, please contact:

Johan Fagerberg, CEO
E-mail: johan.fagerberg@berginsight.com
Phone: +46 31 711 30 91
Twitter: www.twitter.com/berginsight

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