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| Report Code: A10188 | Feb 2021 | Pages: 248 | ||
| Tables: 114 | Charts: 60 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Car Subscription Market
Request Now !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%. Europe was the highest revenue contributor, accounting for $1,465.9 million in 2019, and is estimated to reach $4,491.6 million by 2027, with a CAGR of 21.7%.
The COVID-19 outbreak is resulting in economy uncertainty, restricted commute activities and reduced consumer demands, thus hindering the demand for car subscription services. the outbreak of COVID-19 health crisis has negative impact on the overall market, owing to the weak financial performance of the original equipment manufacturers, as they are expected to focus on working capital management. Furthermore, the recovery of the market is quite fast as digital technologies are evolving in the time of such health crisis. The expected time to recover the market will start from the fourth quarter of the 2021, and to gain momentum in 2022.
Car subscription is mode of service which is new model of ownership with fixed periodic recurring fees that mainly covers the insurance as well as maintenance expenses of the car. The car subscription mainly opts normally for the duration of minimum 1 month to the maximum 2 years. The car subscription is midpoint service solution between the car rental and car leasing services, which having benefits over these two modes of services. Moreover, car subscription also includes the multiple switches of the subscribed car and additional vehicle expenses such as insurance and maintenance are taken care by the service provider.
OEM and their captives are integral part of the global car subscription market; however, independent service provider is strategically involved in partnership and product development to gain the competitive advantage. COVID-19 health crisis has significantly impacted the overall market activities as commute restrictions across the globe and lower consumer confidence.
Factors such as flexibility, affordability, and convenience of car subscription, and benefits over leasing is expected to drive the growth of the market. However, well-established and dominance of vehicle leasing, rental, and sharing market, and the leasing model is cost-efficient compared to subscription schemes, which hinder the market growth. Entering into strategic partnership with automakers to gain competitive advantage, development of strong digital platform to operate the services effectively, and expansion of dealer network to better reach or effective provide services are some of the factors that are expected to foster the market growth.
The global car subscription market is segmented into service providers, vehicle type, end use, subscription period, and region. Depending on service providers, the market is bifurcated into OEM/captives and independent/third party service provider. By vehicle type, it is divided into IC powered vehicle and electric vehicle. On the basis of end use, it is categorized into private and corporate. By subscription period, it is divided into 1 to 6 months, 6 to 12 months, and more than 12 months. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the car subscription market are 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.
Vehicle leasing is a cost-effective solution over car subscription service in the long run; however, car subscription has bunch of benefits over car leasing. Car subscription is associated with multiple switches of the subscribed vehicles under the certain prefixed terms, which is not provided in the car leasing service. Moreover, car leasing incurred various costs such as maintenance cost, repair cost, insurance cost, license fees, and taxes. However, in car subscription, these all costs are handled by the service providers. Moreover, the agreement duration is long in the car leasing; however, it is not longer than 2 years generally which enables the short durational usage and changing the vehicle easily. These benefits over car leasing service are anticipated to spur the demand for car subscription service in the recent years.
Car subscription end users are preferring the authorized vehicle providers for reliability vehicles. Moreover, automotive manufacturers are introducing its own car subscription service vertical along with development of partner chain to cater the untapped markets. Changing consumer sentiments toward vehicle subscription as they adopt the service from the particular vehicle brand provider, market participants of car subscription market need to undergo strategic partnership to attain the long-term business opportunities and gain competitive advantage in the car subscription market. For instance, in 2019, Hyundai Motor India has launched subscription model operating in six cities across India as part of the partnership with Revv.
In the recent years, end users of car subscription services utilize and operate the services through the offline as well as online platforms. In the era of digital technology, end users are more inclining toward online business platform, owing to its operational efficiency and time-effective output. Additionally, market players are developing the websites and mobile application to cater to the changing need of end users and effective fulfillment of the requirement. For instance, car subscription market players such as Drover Limited, Facedrive Inc., Fair Financial Corp., OpenRoad Auto Group, and Porsche AG have well developed website and mobile applications to fulfill the business operations through online digital platform. Changing service offering outlook and increasing internet penetration across the globe sour the demand for strong digital online presence. This shifting trend toward online platforms creates requirement for well-developed website and mobile application to operate the business activities effectively. To attain the changing consumer need, market players need to develop its own website and mobile application with additional features to cope up with the immense competition from the leading players.
The global impacts of the COVID-19 already hit the market significantly in 2020, and it is expected to affect the car subscription market momentum in 2021. The spread of the COVID-19 pandemic has negatively impacted the global car subscription market, owing to commute restrictions and expected weak financial performance of the market players in 2020. The economic impact of the pandemic has been witnessed by the organizations preparing strategic cost-saving plans. Organizations with vehicle assets are considering sale and leaseback options to improve cash flow.
The major risk factors of the car subscription market participants are supply chain execution, regulatory & policy changes, meeting the safety measures, dependency on labor, working capital management, and liquidity & solvency management. For the car subscription market, the year 2020 was a negative performing year, owing to the negative demand and supply outlook from the COVID-19 crisis restrictions in end user. This momentum is anticipated to continue in the first quarter of the year 2021, however, market is expected to witness a small recovery by the end of the fourth quarter of the FY 2021. Commute restrictions and lower consumer confidence are the major factors for decrease in demand for car subscription in the COVID-19 health crisis duration. Demand from end users has reduced as there is limited operational activity. The overall consumer confidence level of these industries has declined, owing to operations with limited workforce capacity and inadequate health safety measures. This expected weak business performance directly impacts the overall service operations of car subscription. Service providers are expected to focus on the working capital management and there are very less chances for heavy investment in advanced technology.
Key Benefits For Stakeholders
Car Subscription Market Report Highlights
| Aspects | Details |
|---|---|
| By SERVICE PROVIDERS |
|
| By Vehicle Type |
|
| By End Use |
|
| By Subscription Period |
|
| By Region |
|
| Key Market Players | Drover Limited, The Hertz Corporation, DAIMLER AG, Porsche AG, Primemover Mobility Technologies Pvt Ltd, Toyota Motor Corporation, Volvo Car Corporation, Facedrive Inc., OpenRoad Auto Group, Fair Financial Corp |
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies
3.3.Porter’s five forces analysis
3.4.Market share analysis, 2019
3.5.Market dynamics
3.5.1.Drivers
3.5.1.1.Flexibility, affordability, and convenience of Car subscription
3.5.1.2.Benefits over leasing are propelling the car subscription market
3.5.2.Restraints
3.5.2.1.Well-established and dominance of vehicle leasing, rental, and sharing market
3.5.2.2.The leasing model is cost-efficient compared to subscription schemes
3.5.3.Opportunities
3.5.3.1.Entering into strategic partnership with Automakers to gain competitive advantage
3.5.3.2.Development of strong digital platform to operate the services effectively
3.5.3.3.Expansion of dealer network to better reach or effective provide services
3.6.COVID-19 impact analysis
3.6.1.Evolution of outbreaks
3.6.2.Macro-economic impact analysis
3.6.3.Micro-economic impact analysis
3.6.4.Impact on industry analysis
CHAPTER 4:CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS
4.1.Overview
4.2.OEMs & Captives
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.Independent/Third Party Service Provider
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
CHAPTER 5:CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE
5.1.Overview
5.2.IC powered vehicle
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.Electric Vehicle
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
CHAPTER 6:CAR SUBSCRIPTION MARKET, BY END USE
6.1.Overview
6.2.Private
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country
6.3.Corporate
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country
CHAPTER 7:CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD
7.1.Overview
7.2.1 to 6 Months
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region
7.2.3.Market analysis, by country
7.3.6 to 12 Months
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.3.3.Market analysis, by country
7.4.More than 12 Months
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.4.3.Market analysis, by country
CHAPTER 8:CAR SUBSCRIPTION MARKET, BY REGION
8.1.Overview
8.2.North America
8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market size and forecast, By Service Providers
8.2.3.Market size and forecast, by Vehicle Type
8.2.4.Market size and forecast, by End Use
8.2.5.Market size and forecast, by Subscription Period
8.2.6.Market analysis, by country
8.2.6.1.U.S.
8.2.6.1.1.Market size and forecast, By Service Providers
8.2.6.1.2.Market size and forecast, by Vehicle Type
8.2.6.1.3.Market size and forecast, by End Use
8.2.6.1.4.Market size and forecast, by Subscription Period
8.2.6.2.Canada
8.2.6.2.1.Market size and forecast, By Service Providers
8.2.6.2.2.Market size and forecast, by Vehicle Type
8.2.6.2.3.Market size and forecast, by End Use
8.2.6.2.4.Market size and forecast, by Subscription Period
8.2.6.3.Mexico
8.2.6.3.1.Market size and forecast, By Service Providers
8.2.6.3.2.Market size and forecast, by Vehicle Type
8.2.6.3.3.Market size and forecast, by End Use
8.2.6.3.4.Market size and forecast, by Subscription Period
8.3.Europe
8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Market size and forecast, By Service Providers
8.3.3.Market size and forecast, by Vehicle Type
8.3.4.Market size and forecast, by End Use
8.3.5.Market size and forecast, by Subscription Period
8.3.6.Market analysis, by country
8.3.6.1.Germany
8.3.6.1.1.Market size and forecast, By Service Providers
8.3.6.1.2.Market size and forecast, by Vehicle Type
8.3.6.1.3.Market size and forecast, by End Use
8.3.6.1.4.Market size and forecast, by Subscription Period
8.3.6.2.UK
8.3.6.2.1.Market size and forecast, By Service Providers
8.3.6.2.2.Market size and forecast, by Vehicle Type
8.3.6.2.3.Market size and forecast, by End Use
8.3.6.2.4.Market size and forecast, by Subscription Period
8.3.6.3.France
8.3.6.3.1.Market size and forecast, By Service Providers
8.3.6.3.2.Market size and forecast, by Vehicle Type
8.3.6.3.3.Market size and forecast, by End Use
8.3.6.3.4.Market size and forecast, by Subscription Period
8.3.6.4.Spain
8.3.6.4.1.Market size and forecast, By Service Providers
8.3.6.4.2.Market size and forecast, by Vehicle Type
8.3.6.4.3.Market size and forecast, by End Use
8.3.6.4.4.Market size and forecast, by Subscription Period
8.3.6.6.Rest of Europe
8.3.6.6.1.Market size and forecast, By Service Providers
8.3.6.6.2.Market size and forecast, by Vehicle Type
8.3.6.6.3.Market size and forecast, by End Use
8.3.6.6.4.Market size and forecast, by Subscription Period
8.4.Asia-Pacific
8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Market size and forecast, By Service Providers
8.4.3.Market size and forecast, by Vehicle Type
8.4.4.Market size and forecast, by End Use
8.4.5.Market size and forecast, by Subscription Period
8.4.6.Market analysis, by country
8.4.6.1.China
8.4.6.1.1.Market size and forecast, By Service Providers
8.4.6.1.2.Market size and forecast, by Vehicle Type
8.4.6.1.3.Market size and forecast, by End Use
8.4.6.1.4.Market size and forecast, by Subscription Period
8.4.6.2.India
8.4.6.2.1.Market size and forecast, By Service Providers
8.4.6.2.2.Market size and forecast, by Vehicle Type
8.4.6.2.3.Market size and forecast, by End Use
8.4.6.2.4.Market size and forecast, by Subscription Period
8.4.6.3.Japan
8.4.6.3.1.Market size and forecast, By Service Providers
8.4.6.3.2.Market size and forecast, by Vehicle Type
8.4.6.3.3.Market size and forecast, by End Use
8.4.6.3.4.Market size and forecast, by Subscription Period
8.4.6.4.South Korea
8.4.6.4.1.Market size and forecast, By Service Providers
8.4.6.4.2.Market size and forecast, by Vehicle Type
8.4.6.4.3.Market size and forecast, by End Use
8.4.6.4.4.Market size and forecast, by Subscription Period
8.4.6.5.Rest of Asia-Pacific
8.4.6.5.1.Market size and forecast, By Service Providers
8.4.6.5.2.Market size and forecast, by Vehicle Type
8.4.6.5.3.Market size and forecast, by End Use
8.4.6.5.4.Market size and forecast, by Subscription Period
8.5.LAMEA
8.5.1.Key market trends, growth factors, and opportunities
8.5.2.Market size and forecast, By Service Providers
8.5.3.Market size and forecast, by Vehicle Type
8.5.4.Market size and forecast, by End Use
8.5.5.Market size and forecast, by Subscription Period
8.5.6.Market analysis, by country
8.5.6.1.Latin America
8.5.6.1.1.Market size and forecast, By Service Providers
8.5.6.1.2.Market size and forecast, by Vehicle Type
8.5.6.1.3.Market size and forecast, by End Use
8.5.6.1.4.Market size and forecast, by Subscription Period
8.5.6.2.Middle East
8.5.6.2.1.Market size and forecast, By Service Providers
8.5.6.2.2.Market size and forecast, by Vehicle Type
8.5.6.2.3.Market size and forecast, by End Use
8.5.6.2.4.Market size and forecast, by Subscription Period
8.5.6.3.Africa
8.5.6.3.1.Market size and forecast, By Service Providers
8.5.6.3.2.Market size and forecast, by Vehicle Type
8.5.6.3.3.Market size and forecast, by End Use
8.5.6.3.4.Market size and forecast, by Subscription Period
CHAPTER 9:COMPANY PROFILES
9.1.DAIMLER AG
9.1.1.Company overview
9.1.2.Company snapshot
9.1.3.Operating business segments
9.1.4.Product portfolio
9.1.5.Business performance
9.2.Drover Limited
9.2.1.Company overview
9.2.2.Company snapshot
9.2.3.Key strategic moves and developments
9.3.Facedrive Inc.
9.3.1.Company overview
9.3.2.Company snapshot
9.3.3.Product portfolio
9.3.4.Key strategic moves and developments
9.4.Fair Financial Corp.
9.4.1.Company overview
9.4.2.Company snapshot
9.4.3.Product portfolio
9.5.OpenRoad Auto Group
9.5.1.Company overview
9.5.2.Company snapshot
9.5.3.Product portfolio
9.6.Porsche AG
9.6.1.Company overview
9.6.2.Company snapshot
9.6.3.Business performance
9.6.4.Key strategic moves and developments
9.7.Primemover Mobility Technologies Pvt Ltd.
9.7.1.Company overview
9.7.2.Company snapshot
9.7.3.Product portfolio
9.8.The Hertz Corporation
9.8.1.Company overview
9.8.2.Company snapshot
9.8.3.Operating business segments
9.8.4.Product portfolio
9.8.5.Business performance
9.8.6.Key strategic moves and developments
9.9.Toyota Motor Corporation
9.9.1.Company overview
9.9.2.Company snapshot
9.9.3.Operating business segments
9.9.4.Product portfolio
9.9.5.Business performance
9.9.6.Key strategic moves and developments
9.10.Volvo Car Corporation
9.10.1.Company overview
9.10.2.Company snapshot
9.10.3.Product portfolio
9.10.4.Business performance
LIST OF TABLES
TABLE 01.GLOBAL CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 02.CAR SUBSCRIPTION MARKET REVENUE FOR OEMS & CAPTIVES, BY REGION, 2019–2027 ($MILLION)
TABLE 03.CAR SUBSCRIPTION MARKET REVENUE FOR INDEPENDENT/THIRD PARTY SERVICE PROVIDERS, BY REGION, 2019–2027 ($MILLION)
TABLE 04.GLOBAL CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 05.CAR SUBSCRIPTION MARKET REVENUE FOR IC POWERED VEHICLE, BY REGION, 2019–2027 ($MILLION)
TABLE 06.CAR SUBSCRIPTION MARKET REVENUE FOR ELECTRIC VEHICLE, BY REGION, 2019–2027 ($MILLION)
TABLE 07.GLOBAL CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 08.CAR SUBSCRIPTION MARKET REVENUE FOR PRIVATE, BY REGION, 2019–2027 ($MILLION)
TABLE 09.CAR SUBSCRIPTION MARKET REVENUE FOR CORPORATE, BY REGION, 2019–2027 ($MILLION)
TABLE 10.GLOBAL CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 11.CAR SUBSCRIPTION MARKET REVENUE FOR 1 TO 6 MONTHS, BY REGION, 2019–2027 ($MILLION)
TABLE 12.CAR SUBSCRIPTION MARKET REVENUE FOR 6 TO 12 MONTHS, BY REGION, 2019–2027 ($MILLION)
TABLE 13.CAR SUBSCRIPTION MARKET REVENUE FOR MORE THAN 12 MONTHS, BY REGION, 2019–2027 ($MILLION)
TABLE 14.NORTH AMERICAN CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 15.NORTH AMERICAN CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 16.NORTH AMERICAN CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 17.NORTH AMERICAN CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 18.U. S. CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 19.U. S. CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 20.U. S. CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 21.U. S. CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 22.CANADA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 23.CANADA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 24.CANADA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 25.CANADA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 26.MEXICO CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 27.MEXICO CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 28.MEXICO CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 29.MEXICO CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 30.EUROPEAN CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 31.EUROPEAN CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 32.EUROPEAN CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 33.EUROPEAN CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 34.GERMANY CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 35.GERMANY CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 36.GERMANY CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 37.GERMANY CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 38.UK CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 39.UK CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 40.UK CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 41.UK CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 42.FRANCE CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 43.FRANCE CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 44.FRANCE CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 45.FRANCE CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 46.SPAIN CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 47.SPAIN CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 48.SPAIN CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 49.SPAIN CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 50.REST OF EUROPE CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 51.REST OF EUROPE CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 52.REST OF EUROPE CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 53.REST OF EUROPE CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 54.ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 55.ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 56.ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 57.ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 58.CHINA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 59.CHINA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 60.CHINA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 61.CHINA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 62.INDIA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 63.INDIA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 64.INDIA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 65.INDIA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 66.JAPAN CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 67.JAPAN CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 68.JAPAN CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 69.JAPAN CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 70.SOUTH KOREA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 71.SOUTH KOREA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 72.SOUTH KOREA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 73.SOUTH KOREA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 74.REST OF ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 75.REST OF ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 76.REST OF ASIA-PACIFIC CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 77.REST OF EUROPE CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 78.LAMEA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 79.LAMEA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 80.LAMEA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 81.LAMEA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 82.LATIN AMERICA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 83.LATIN AMERICA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 84.LATIN AMERICA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 85.LATIN AMERICA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 86.MIDDLE EAST CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 87.MIDDLE EAST CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 88.MIDDLE EAST CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 89.MIDDLE EAST CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 90.AFRICA CAR SUBSCRIPTION MARKET, BY SERVICE PROVIDERS, 2019–2027 ($MILLION)
TABLE 91.AFRICA CAR SUBSCRIPTION MARKET, BY VEHICLE TYPE, 2019–2027 ($MILLION)
TABLE 92.AFRICA CAR SUBSCRIPTION MARKET, BY END USE, 2019–2027 ($MILLION)
TABLE 93.AFRICA CAR SUBSCRIPTION MARKET, BY SUBSCRIPTION PERIOD, 2019–2027 ($MILLION)
TABLE 94.DAIMLER AG: COMPANY SNAPSHOT
TABLE 95.DAIMLER AG: OPERATING SEGMENTS
TABLE 96.DAIMLER AG: PRODUCT PORTFOLIO
TABLE 97.DROVER LIMITED: COMPANY SNAPSHOT
TABLE 98.FACEDRIVE INC.: COMPANY SNAPSHOT
TABLE 99.FACEDRIVE INC.: PRODUCT PORTFOLIO
TABLE 100.FAIR FINANCIAL CORP.: COMPANY SNAPSHOT
TABLE 101.FAIR FINANCIAL CORP.: PRODUCT PORTFOLIO
TABLE 102.OPENROAD AUTO GROUP: COMPANY SNAPSHOT
TABLE 103.OPENROAD AUTO GROUP: PRODUCT PORTFOLIO
TABLE 104.PORSCHE AG: COMPANY SNAPSHOT
TABLE 105.PRIMEMOVER MOBILITY TECHNOLOGIES PVT LTD.: COMPANY SNAPSHOT
TABLE 106.PRIMEMOVER MOBILITY TECHNOLOGIES PVT LTD: PRODUCT PORTFOLIO
TABLE 107.THE HERTZ CORPORATION.: COMPANY SNAPSHOT
TABLE 108.THE HERTZ CORPORATION.: OPERATING SEGMENTS
TABLE 109.THE HERTZ CORPORATION: PRODUCT PORTFOLIO
TABLE 110.TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 111.TOYOTA MOTOR CORPORATION: OPERATING SEGMENTS
TABLE 112.TOYOTA MOTOR CORPORATION: PRODUCT PORTFOLIO
TABLE 113.VOLVO CAR CORPORATION: COMPANY SNAPSHOT
TABLE 114.VOLVO CAR CORPORATION: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.EXECUTIVE SUMMARY
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TOP WINNING STRATEGIES, BY YEAR, 2018–2021*
FIGURE 07.TOP WINNING STRATEGIES, BY YEAR, 2018–2021*
FIGURE 08.TOP WINNING STRATEGIES, BY COMPANY, 2018–2021*
FIGURE 09.MODERATE-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 10.HIGH-TO-MODERATE THREAT OF NEW ENTRANTS
FIGURE 11.MODERATE-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 12.MODERATE-TO-HIGH INTENSITY OF RIVALRY
FIGURE 13.MODERATE-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 14.MARKET SHARE ANALYSIS, 2019
FIGURE 15.GLOBAL CAR SUBSCRIPTION MARKET SHARE, BY SERVICE PROVIDERS, 2019–2027 (%)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR OEMS & CAPTIVES, BY COUNTRY, 2019 & 2027 (%)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR INDEPENDENT/THIRD PARTY SERVICE PROVIDERS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 18.GLOBAL CAR SUBSCRIPTION MARKET SHARE, BY VEHICLE TYPE, 2019–2027 (%)
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR IC POWERED VEHICLE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR ELECTRIC VEHICLE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 21.GLOBAL CAR SUBSCRIPTION MARKET SHARE, BY END USE, 2019–2027 (%)
FIGURE 22.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR PRIVATE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR CORPORATE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 24.GLOBAL CAR SUBSCRIPTION MARKET SHARE, BY SUBSCRIPTION PERIOD, 2019–2027 (%)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR 1 TO 6 MONTHS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 26.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR 6 TO 12 MONTHS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 27.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET FOR MORE THAN 12 MONTHS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 28.CAR SUBSCRIPTION MARKET, BY REGION, 2019–2027 (%)
FIGURE 29.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 30.U. S. CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 31.CANADA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 32.MEXICO CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 33.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 34.GERMANY CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 35.UK CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 36.FRANCE CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 37.SPAIN CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 38.REST OF EUROPE CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 39.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 40.CHINA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 41.INDIA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 42.JAPAN CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 43.SOUTH KOREA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 44.REST OF ASIA-PACIFIC CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 45.COMPARATIVE SHARE ANALYSIS OF CAR SUBSCRIPTION MARKET, BY COUNTRY, 2019–2027 (%)
FIGURE 46.LATIN AMERICA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 47.MIDDLE EAST CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 48.AFRICA CAR SUBSCRIPTION MARKET, 2019–2027 ($MILLION)
FIGURE 49.DAIMLER AG: NET SALES, 2017–2019 ($MILLION)
FIGURE 50.DAIMLER AG: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 51.DAIMLER AG: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 52.PORSCHE AG.: NET SALES, 2017–2019 ($MILLION)
FIGURE 53.THE HERTZ CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 54.THE HERTZ CORPORATION: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 55.THE HERTZ CORPORATION: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 56.TOYOTA MOTOR CORPORATION: NET SALES, 2018–2020 ($MILLION)
FIGURE 57.TOYOTA MOTOR CORPORATION: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 58.VOLVO CAR CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 59.VOLVO CAR CORPORATION: REVENUE SHARE BY REVENUE CATEGORY, 2019 (%)
FIGURE 60.VOLVO CAR CORPORATION: REVENUE SHARE BY REGION, 2019 (%)
Car subscription is the new era of car as a service offering, and it is center solution for the car leasing and car rental services. Car subscription is gaining momentum in the near future as it is having advantages such as short durational mobility solution, new era commute solution, and cost-effective for the vehicle expenses. Car subscription is accepted by majority of the urban commuter as it allows multiple switches for the vehicles and even less complex than leasing services.
The global car subscription market is highly fragmented due to presence of several market participants operating in the market. OEM and their captives have entered in this business model and become integral part of the business cycle. Independent or third-party service providers are mostly start-ups and has witnessed strategic partnership with automakers to provide effective services to the consumers. Moreover, the car subscription market participants are catering to their domestic markets as it relates to maintaining the large fleets and majority of the operations are preferred at the dealer end so there is no requirement of the direct presence of the market participants. In addition, India and ASEAN countries are expected to witness as a land of opportunities for the market players as majority of the consumers of these countries are millennial generation and they are more likely to attracted toward the car as service mode of ownership with additional benefits such as multiple swaps of the cars, which is prominent driving factor for such business model.
The global car subscription market is segmented on the basis of service providers, vehicle type, end use, subscription period, and region. Depending on service providers, the market is bifurcated into OEM/captives and independent/third party service provider. By vehicle type, it is divided into IC powered vehicle and electric vehicle. On the basis of end use, it is categorized into private and corporate. By subscription period, it is divided into 1 to 6 months, 6 to 12 months, and more than 12 months. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Car subscription is the new era of car as a service offering, and it is center solution for the car leasing and car rental services. Car subscription is gaining momentum in the near future as it is having advantages such as short durational mobility solution, new era commute solution, and cost-effective for the vehicle expenses. Car subscription is accepted by majority of the urban commuter as it allows multiple switches for the vehicles and even less complex than leasing services.
The global car subscription market is highly fragmented due to presence of several market participants operating in the market. OEM and their captives have entered in this business model and become integral part of the business cycle. Independent or third-party service providers are mostly start-ups and has witnessed strategic partnership with automakers to provide effective services to the consumers. Moreover, the car subscription market participants are catering to their domestic markets as it relates to maintaining the large fleets and majority of the operations are preferred at the dealer end so there is no requirement of the direct presence of the market participants. In addition, India and ASEAN countries are expected to witness as a land of opportunities for the market players as majority of the consumers of these countries are millennial generation and they are more likely to attracted toward the car as service mode of ownership with additional benefits such as multiple swaps of the cars, which is prominent driving factor for such business model.
The global car subscription market is segmented on the basis of service providers, vehicle type, end use, subscription period, and region. Depending on service providers, the market is bifurcated into OEM/captives and independent/third party service provider. By vehicle type, it is divided into IC powered vehicle and electric vehicle. On the basis of end use, it is categorized into private and corporate. By subscription period, it is divided into 1 to 6 months, 6 to 12 months, and more than 12 months. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
A. 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% from 2020 to 2027.
A. COVID-19 helath crisis has direct impact on the global car subscription market, growing adoption of digital technology in transportation front and changing consumer sentiments towards vehicle ownership is expected to spur the demand for car subscription
A. The report sample for global car subscription market report can be obtained on demand from the website.
A. Adoption of electric vehicles as a car subscription services are gaining traction in the global market
A. Product Development, Expansion, Partnership, and Acquisition are the key strategies adopted by the key players of global car subscription market
A. The company profiles of the top ten players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated
A. Based on the car subscription market analysis, Europe accounts to be highest revenue contributor in 2019. However, Asia-Pacific is expected to see a lucrative growth provides more business opportunities during the forecast period
A. By Vehicle Type, Electric Vehicle segment is expected to gain traction over the forecast period in global car subscription market
A. U.S., UK, and Germany has wirnessed as a key matured markets growing in the global car subscription market
A. The demand for mordern urban mobility solution to improve the operational efficiency; and increasing expansion activities of market players
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