Berg Insight’s latest research indicates a substantial increase in the global usage of carsharing services. From 123.4 million users in 2022, the number is projected to rise to 269.4 million by 2027, representing a compound annual growth rate (CAGR) of 16.9%.
The forecast also shows an expected growth in the number of vehicles for carsharing services, from 575,000 in 2022 to 979,000 by 2027, at a CAGR of 11.2%. In 2022 alone, the carsharing fleet expanded by 8.7%, while membership saw an impressive 43.8% increase globally.
Martin Cederqvist, an IoT analyst at Berg Insight, pointed out the significant rise in carsharing usage, especially in Europe and the Asia-Pacific region. Other promising markets include South America and the Middle East, with North America showing recovery in 2022 with a 7.9% increase in fleet size and a 9.1% rise in membership.
CarSharing Organisations (CSOs) provide 24/7 access to a shared car fleet, with billing based on time and distance, including costs for fuel, insurance, and maintenance. Predominant models include station-based networks with roundtrip rental requirements and the increasingly popular free-floating carsharing, allowing users to pick up and drop off cars within a designated area. Hybrid models combining both approaches are also being explored.
“Free-floating carsharing is expected to become the most common operational model in Europe in the coming years, both in membership and fleet size,” said Cederqvist.
The operation of carsharing services requires a connected fleet and specialised software platforms, covering various operational activities. While some CSOs have in-house solutions, most rely on products and services from specialised technology vendors.
Key vendors in the hardware and software platforms market include Invers, Convadis, Continental, Humax, Vulog, Ridecell, Optimum Automotive Group, Mobility Tech Green, OCTO Telematics, Targa Telematics, and Glide.io.
Carsharing services are offered by specialist companies, car rental firms, car manufacturers, and public transport operators. Notable CSOs backed by car manufacturers include Free2Move (Stellantis), Volvo On Demand (Volvo Cars), Zity (Renault), Wible (Kia), and Kinto Share (Toyota).
Cederqvist also noted significant market changes, such as BMW and Mercedes-Benz exiting the market by selling Share Now to Stellantis in 2022, and Volkswagen’s departure with the sale of WeShare to Miles.
Car rental and leasing companies, like Sixt, Avis Budget Group, and Leasys, also operate carsharing services like Sixt Share, Zipcar, and e-GO! Drivalia. Other specialist CSOs include Times Car Plus, Socar, EvCard, Liandong Cloud, Enjoy, Mobility Carsharing, Miles, Stadtmobil, Cambio, Citiz, Communauto, and GoGet.
“The top 30 carsharing service providers accounted for approximately 80% of carsharing members and managed close to 64% of the carsharing fleet worldwide at the end of 2022,” Cederqvist concluded.
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