It's been clear for some time that Uber, Lyft and other ridesharing firms are taking share from traditional taxis.
But the ridesharing industry is not just stopping there. It's starting to have major impacts on adjacent industries.
For example, Skift's article Skift Survey: More Evidence of Uber Becoming a Rental Car Replacement covers data showing that more consumers are turning to ridesharing services instead of renting cars.
Business travelers, the mainstay of the rental car industry, are also switching from rental cars to ridesharing. The chart below, from business expense tracking company Certify, shows that ridesharing has surpassed rental cars in terms of total trips taken by business travelers. They also rate ridesharing higher than car rentals.
Auto companies are also starting to feel the impact of ride and car sharing.
Strategy consulting firm BCG's What’s Ahead for Car Sharing? looks at ride and car sharing's impact on vehicle sales. While they say it won't have a huge near term impact on sales, they do believe ride and car sharing services will have a big impact on the auto industry over the next 5 years. Key quote:
The trend toward car sharing should nonetheless make automotive OEMs consider reconceiving their mission, at least in part. While continuing to serve as manufacturers and distributors of personally owned vehicles, OEMs should also experiment with providing mobility services and devise new business models accordingly. Manufacturers can set up units to provide vehicles to consumers on an as-needed basis, substituting a stream of fee income for sales revenues. At the same time, this can give them access to potential customers who might buy a car at some point in the future.
Most of the major car manufacturers are following this advice. GM's recent investment in and partnership with Lfyt is a good example, as is BMW's experiment with car sharing in Seattle.
Logistics is yet another industry that is starting to be impacted by Uber and/or Uber like companies. The industry is skeptical about this type of competition having an impact, but so was the hotel industry about Airbnb being a competitor a year or two ago - but no longer.
The On-Demand is economy has clearly captured the attention of consumers and business customers. It's impact on the overall economy will continue to grow over the next few years as it ripples across the economy and moves into new industries.