Industry Analysis & Industry Trends
Over the past five years, the Car Sharing Providers industry has grown rapidly. This has been partly due to the continual climb of world crude oil prices and the demand for cost-efficient and convenient inner-city transport. The industry has also greatly benefited from advancements in mobile technology and the internet. This has resulted in strong dependency by industry operators on online bookings and car tracking. Over the five years through 2013-14, industry revenue is expected to grow at an annualised 25.0% to total $43.1 million. In 2013-14, revenue is forecast to grow by 18.7% as consumers continue to be pressured by high petrol prices, congested inner-city traffic and substantial vehicle upkeep costs... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry for the industry are moderate and increasing. The main barriers to entry are the high capital costs of starting car sharing operations and the rapidly increasing level of competition. The majority of operators must purchase an initial fleet of cars, which can be expensive. In addition, a company will have to secure prime and convenient pods, or parking spots, across a number of inner-city suburbs and within CBDs. Competition within the industry is increasing rapidly, as is the number of enterprises. The industry is also very tech heavy. Operating in the new and evolving social media and mobile application landscape, technology change is relatively rapid.
However, the industry is in the growth stage of its life cycle... purchase to read more