Car Sharing Market Analysis, Trends, and Automation in 2024

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di Sylvestre Dupont
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Fasten your seatbelts as we delve into the fast lane of the car sharing market in 2024, exploring the vital role automation plays in driving this industry forward.

The global car sharing market is projected to reach $9 billion by 2026, growing at a CAGR of over 24% - Global Market Insights, April 09, 2020.

10% of the population is expected to adopt car sharing as their primary mode of transportation by 2025 - Zipcar

What is Car Sharing?

Car sharing offers short-term vehicle rentals, providing convenient access to cars for shorter durations. Users are typically charged based on usage, such as distance traveled or time. It's a disruptive approach to car rental, much like Airbnb revolutionized accommodations and Uber transformed the taxi industry. - Car2go

According to a Frost & Sullivan study on the future of the car sharing market to 2025, there are already 10 million people in the shared mobility market.

The European car sharing market size is estimated to exceed $4 billion in valuation by 2024; The peer-to-peer segment will boost growth in the North American market; The Asia Pacific industry will register 31.5% CAGR during the forecast timeframe.

A screenshot of the car sharing market
Global Car Sharing Market, 2021

Within the European automotive industry, there's a growing focus on shared electric vehicles. To meet this demand, Zipcar partnered with Volkswagen to provide the UK's largest electric vehicle fleet. Zipcar, a major player in the car sharing sector, operates in over 384 US cities, offering 16,000 vehicles to over a million members. Founded in 2000, Zipcar pioneered the membership-based car sharing model.

In early 2008, Car2go (Daimler Group) and DriveNow (BMW) formed a joint venture to create the world's largest shared mobility system, now known as ShareNow. This merger resulted in one of the largest electric vehicle fleets in Europe, operating 3,030 electric cars across various cities.

Driven by the global success of car sharing, numerous automotive players in the North American market have invested in these services. According to a Global Market Insights industry analysis, the car sharing market is expected to surpass $9 billion by 2026.

In 2019, Movmi's Shared Mobility City Index compared shared mobility data across 20 North American cities, ranking San Francisco as a leader in the car sharing market due to its diverse offerings, including one-way, round-trip, and peer-to-peer options.

The car sharing market also targets millennials who drive less and may not be able to afford personal vehicles. This convenient service caters to their on-demand transportation needs.

Growth in the car sharing market is projected to accelerate due to environmental concerns and rising taxi fares. Companies are investing heavily in technology to enhance customer experience and safety. Around 36 million drivers are expected to use car sharing services worldwide by 2025, driven by millennial lifestyles and advanced technologies.

ABI Research predicts 400 million people will rely on robotaxi car sharing by 2030.

Government incentives also support the smooth entry of new operators, further fueling market growth. This shared mobility offering has demonstrably positive impacts on communities.

Key market players include Zipcar, ShareNow, Getaround, Turo, Hour Car, and Urbi.

Benefits of Car Sharing: Efficient, Sustainable, and Economical

Smartphones and technology are the engines of car sharing companies. Your smartphone is your key to unlocking cars, locating nearby vehicles, and managing your subscription, all through a dedicated app.

  • Environmental Friendliness: Car sharing reduces personal car ownership and encourages walking and cycling, with one shared car potentially replacing up to 20 privately owned vehicles.
  • Cost Savings: Eliminates the fixed costs of car ownership (insurance, maintenance, parking). You pay only for what you drive.
  • Ideal for Urban Environments: A perfect solution for densely populated cities with traffic congestion.
  • 24/7 Accessibility and Convenience: Find and unlock the nearest available vehicle anytime, anywhere, using your smartphone.

3 Types of Car Sharing Programs

P2P (Peer-to-peer) Car Sharing

This model allows car owners to rent out their personal vehicles short-term, generating additional income when their cars aren't in use. Turo, based in San Francisco, is the world's largest P2P car sharing company. Their $500 million in funding highlights the increasing demand for the P2P market. Getaround and Drivy are other examples of peer-to-peer car sharing.

B2C Car Sharing

Drivers rent vehicles owned by private car sharing companies like Zipcar, DriveNow, and Car2Go. Car2Go vehicles can be left in municipal parking spaces in cities like Seattle, Portland, Minneapolis, and across Texas.

B2C car sharing is further categorized into:

  • Free Floating: (station-less transport sharing service) This flexible, cost-effective model doesn't require fixed stations. Electric vehicle options simplify charging, as designated areas offer readily available charging points, promoting eco-mobility.
  • Station-based: Vehicles are located at designated stations. Rentals begin and end at the same station.
  • A-B Model: Rentals begin at point A and end at a designated point B.

A screenshot of the types of car sharing
Types of car sharing programs

Corporate Car Sharing

B2B or corporate car sharing caters to specific groups or communities, such as companies providing shared mobility services to their employees.

Non-profit Car Sharing

Non-profit organizations support car sharing for its positive environmental and social impact, exemplified by eGo Car Share in Colorado.

Automating Your Car Sharing Business to Reduce Time-Consuming Tasks

While the car sharing business is booming, efficient management is crucial. Like any business, you'll need to handle accounting, financials, sales pipelines, and customer service. Regardless of your car sharing program, as your market presence grows, so do your operational needs. This might include managing repetitive emails from potential customers and an overflowing inbox.

Why Integrate Parseur with Your Car Sharing Business?

  • Do you receive numerous emails daily through a contact form on your website?
  • Do you need to extract specific data from these emails, like lead email addresses and phone numbers?
  • Do you need to send this data to your CRM or another application?

If so, an automated workflow can save time, reduce manual effort, and help you scale your business more effectively.

What is Parseur?

Parseur is an AI-powered data extraction tool that automatically extracts data from emails and PDFs. The parsed data can be downloaded, sent to Google Sheets, or exported to any application via Zapier.

Parseur is free for a limited number of parsed documents per month.

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Risparmia tempo e fatica con Parseur. Automatizza i tuoi documenti.

Benefits of Integrating Parseur with Your Car Sharing Business

Parseur's robust AI engine requires no coding knowledge, making it user-friendly even for non-technical users. Unlike other email parsers, you don't need to create parsing rules.

With Parseur, you can:

  • Parse support emails from renters and automatically create support tickets in your helpdesk system.
  • Centralize rental bookings from multiple platforms into a single calendar or business application by parsing booking confirmation emails.
  • Aggregate invoices into your accounting system to consolidate monthly and annual revenue across different car sharing platforms.
  • Integrate with thousands of CRM, accounting, and productivity applications.

Real-World Use Case Example in Parseur

Let's consider Julien, who rents out his vehicles on platforms like Getaround. With Getaround, cars can be rented anytime with 24/7 roadside assistance. The Getaround Connect™ device provides GPS tracking and anti-theft functionality, allowing only verified owners and renters to unlock cars via the Getaround app.

After each rental, Julien receives a summary email with important information he needs to extract and input into a Google spreadsheet. Before using Parseur, this process was manual and time-consuming, especially with a high volume of emails.

By integrating Parseur, Julien automated this workflow, eliminating hours of manual work. From the moment an email arrives, the data is automatically extracted and sent to Google Sheets.

How Does Data Extraction Work in Parseur?

Once you've created your mailbox, forward your email to your Parseur mailbox. The email will arrive within seconds. You can also set up an automatic forwarding rule to streamline the process.

Parseur is template-based. Simply highlight the information you want to extract and create data fields. You can create as many templates as needed.

A screenshot of creating a field
Creating your first field in Parseur

What Specific Data Can Parseur Extract from Car Rental Emails?

Parseur can extract various data points based on your requirements, including:

  1. Car Owner Name
  2. Car Owner Address
  3. Driver's License Number
  4. License Issue Date
  5. Vehicle Type
  6. License Plate Number
  7. Fuel Type
  8. Vehicle Pickup Date/Time
  9. Initial Mileage
  10. Initial Fuel Level
  11. Rental Price
  12. Distance Traveled
  13. Vehicle Return Date/Time

Export Parsed Data to Any Application

You can export parsed data to thousands of applications via MS Flow, Make, IFTTT, Webhook, and Zapier.

Zapier is a popular cloud-based automation tool that connects apps, enabling real-time, automated data export to applications like Google Sheets.

A screenshot of Etsy data on Google Sheets
Parsed data sent to Google Sheets

With a few clicks, you can eliminate time-consuming manual tasks.

The car sharing business is undoubtedly experiencing tremendous growth and opportunity. The Car Sharing City Awards 2020, organized by the car sharing association in partnership with Movmi, celebrates the cities and individuals dedicated to the car sharing ecosystem. This transformative shift in the transportation sector is poised for continued expansion in the years to come.

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