Friday, September 17, 2021

India E-Rickshaw and On-Demand Ride Hailing Market Expected To Reach Highest CAGR by 2030

Due to the increasing pollution levels in many towns and cities, the usage of e-rickshaws and on-demand ride-hailing services is growing rapidly in India. Moreover, the growing prevalence of various lung diseases, on account of the escalating air pollution levels, is pushing up the requirement for eco-friendly modes of transportation such as e-rickshaws and also convenient modes of traveling such as on-demand ride-hailing solutions in the country. These traveling modes are highly environment-friendly and massively reduce the road congestion levels.


This, in turn, reduces the chances of road accidents in the country. In cities such as Chandigarh, Kolkata, Ahmedabad, and Delhi-NCR, people are increasingly preferring low-speed electric vehicles, particularly e-rickshaws for traveling over the conventionally used vehicles. Moreover, the Indian government is enacting various initiatives and policies for promoting the usage of e-rickshaws in the country. Many public bodies and government organizations are rapidly announcing partnerships with each other for augmenting the deployment rate of e-rickshaws in the country.

This is driving the expansion of the Indian e-rickshaw and on-demand ride-hailing market. The increasing operations of various transportation network companies (TNC) in this domain are facilitating the rapid adoption of several advanced mobile technologies such as global positioning service (GPS)-enabled apps. These technologies are used for enabling the smooth and faster booking of rides and mitigating the various challenges that are usually present with regards to last/first mile connectivity, thereby improving the user experience. 

Hence, it can be said with full confidence that the demand for e-rickshaws and on-demand ride hailing services is rising explosively in India, mainly because of the growing requirement for environment-friendly and convenient modes of traveling especially among the daily commuters. 

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