Registering CAGR of 23.1% | The Car Subscription Market Size Reach USD 12.09 Billion by 2027

Factors such as flexibility, affordability, and convenience of car subscription, and benefits over leasing is expected to drive the growth of the market.

WILMINGTON, DE, UNITED STATES, December 5, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, Registering CAGR of 23.1% | The Car Subscription Market Size Reach USD 12.09 Billion by 2027. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global car subscription market was valued at $3,550.4 million in 2019, and is projected to reach $12,090.6 million by 2027, registering a CAGR of 23.1%.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 248 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A10188

Covid-19 Scenario:

● Due to the Covid-19 outbreak, several governments had imposed strict lockdown across the country. The restrictions on travel and commute across local, intercity, and interstate locations resulted in decrease in demand for car subscriptions during the pandemic.

● The original equipment manufacturers (OEMs) witnessed weak financial performance during the pandemic, which forced them to focus on working capital management.

● However, the demand for car subscription services is expected to rise slowly as digital technologies have been evolving.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A06955

Benefits of car subscriptions over leasing and flexibility, convenience, and affordability have boosted the growth of the global car subscription market. However, cost-efficiency of the leading model and dominance of well-established rental, vehicle-sharing, and leasing market hamper the market growth. On the contrary, development of digital platforms to operate services, strategic partnership with automakers, and expansion of dealer networks are expected to open lucrative opportunities for the market players in the future.

The global car subscription market is segmented on the basis of service provider, vehicle type, end use, subscription period, and region. On the basis of vehicle type, the electric vehicle segment is projected to portray the highest CAGR of 26.5% during the forecast period. However, the IC-powered vehicle segment held the lion's share in 2019, contributing to around three-fourths of the market.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟒𝟏𝟏 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/car-subscription-market/purchase-options

Based on end use, the corporate segment dominated the market in terms of revenue, holding more than half of the market. However, the private segment is estimated to register the highest CAGR of 23.9% during the forecast period.

The global car subscription market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to register the highest CAGR of 27.1% during the forecast period. However, the market across Europe held the largest share in 2019, accounting for more than two-fifths of the market.

The global car subscription market report includes an in-depth analysis of the prime market players such as Daimler AG, Drover Limited, Facedrive Inc., Fair Financial Corp., OpenRoad Auto Group, Porsche AG, Primemover Mobility Technologies Pvt. Ltd., The Hertz Corporation, Toyota Motor Corporation, and Volvo Car Corporation.

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Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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