Pune, India, November 2019, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Mobility as a Service Market.
Overview
Global Mobility as a Service Market is expected to expand at 38.9% CAGR to reach a market value of USD 484.20 Billion by 2024.
According to the United Nations, by 2030, approximately 5 billion of the world’s total population are projected to shift to urban areas, thereby increasing the need for urban transportation services. This adversely affects the climate, increases traffic and congestion, and causes serious health problems. According to the World Health Organization, air pollution leads to the death of around 2 million people every year, a primary source of the pollution being emissions from vehicles. Therefore, it is essential to minimize the use of private vehicles and shift toward more sustainable modes of transport. MaaS integrates a range of mobility services such as cars, motorcycles, and buses to efficiently limit the number of vehicles on the roads and reduce traffic congestion in cities. Furthermore, MaaS enables people to use carpool and other shared means of transportation.
Over the past few years, several countries in the world are undergoing a considerable transformation in mobility services with the emergence of new technologies across the automotive industry. The growing Internet access and the rising use of smartphones in developing economies are likely to increase the adoption of technology-enabled mobility solutions. For instance, Japan, China, and India are poised to transform their transportation services by shifting toward new mobility solutions. For instance, several car manufacturers in Japan are aiming at making their mobility services more affordable and flexible. Toyota Motor Corporation invested around USD 500 Million in Uber Technologies in order to support the latter’s self-driving technology for enhancing mobility services in Japan.
Segmental Analysis
The Global Mobility as a Service Market has been segmented on the basis of Type, Service Type, Business Model, Application Platform and Region.
By type, mobility as a service has been segmented into private and public. The private segment accounted for the largest market share of 90.1% in 2017. The public segment was valued at USD 3.78 Million; it is projected to register a higher CAGR of 40.8%. This type of MaaS assists in increasing the utilization of existing vehicles. This takes place via share schemes and other incentives. Thus, providing a cost-effective and reliable alternative to car ownership.
By service type, mobility as a service has been segmented into cars, buses, and bikes. The car segment accounted for the largest market share of 73.5% in 2017. Whereas, the bike segment is expected to register the highest CAGR of 43.7%. MaaS for bikes helps provide rental as well as bike-sharing services to the customers at affordable rates with the help of the MaaS application.
By business model, mobility as a service market has been segmented into business to business (B2B), business to customers (B2C), and peer-to-peer (P2P). The B2C segment accounted for the largest market share of 69.7% in 2017. Whereas, the P2P segment is expected to register the highest CAGR of 41.3%. This type of service helps the customer in expense sharing and is beneficial for the service providers to gain profits.
By application platform, mobility as a service has been segmented into Android, iOS, and others. The Android segment accounted for the largest market share of 73.5% in 2017 and it is expected to register the highest CAGR of 39.7% during the forecast period. This is because the majority of the population using Android-based smartphones as compared to iOS.
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Competitive Analysis
The Prominent Players operating in the Global Mobility as a Service Market are Daimler AG (Germany), Bayerische Motoren Werke AG (BMW) (Germany), Lyft, Inc (US), MaaS Global Oy (Switzerland), GrabTaxi Holdings Pte Ltd (Singapore), Beijing Xiaoju Technology Co., Ltd (China), Uber Technologies, Inc. (US), Communauto (Canada), Moovit Inc. (Israel), ANI Technologies Private Limited (India), Bridj Pty Ltd (Australia), JapanTaxi Co., Ltd (Japan), Deutsche Bahn (Germany), Xerox Corporation (US), and Wiwigo (India).
Regional Analysis
By region, mobility as a service market has been divided into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to be the largest market for mobility as a service during the forecast period. The reason for the growth in the adoption of mobility as a service in the region includes the presence of a large number of MaaS providers. Approximately 12 of the top 17 B2Bmobility platform providers in the world have their headquarters in Europe, making the region one of the largest hubs for MaaS operators.
According to MRFR, North America is expected to register the highest CAGR in the mobility as a service market during the forecast period. The factors driving the growth of MaaS in the region include continuous development and investment by MaaS players and the transportation authority of the region/country. Also, strong support from various governments as well as non-profit organizations, including the American Public Transportation Association, is driving the market in the region.
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Report details
| Base Year | 2019 |
| Companies Covered | 15 |
| Pages | 87 |
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