Fueling the Car-as-s-Service Market
The worldwide car sharing activity is more than 86,000 vehicles with 2.5 billion minutes of drive time booked per year, and over $690 million in revenue*. The demand is greatest in urban areas of both developing and developed countries around the world.
Today, car sharing services allow consumers from around the world to participate in such programs with simple access and scheduling through mobile devices. It has changed urban driving possibilities, driver behavior, and offers new types of businesses.
The car sharing market is expected to rapidly grow and is likely to reach nearly 35 million participants by 2021. Given these possibilities, how can OEMs create new revenue channels using the same products that have been in existence, in one form or another, for well over a century? Business leaders at OEMs need to prepare for this period by acquiring the required gear to reap the benefits this model will soon provide.
But, will these programs succeed in the long-term? Or, is this a temporary bubble that is bound to burst in the years to come? How, when, and where will these programs succeed? Find out the answers to these questions and more in this white paper.
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*Source: BCG Research