The size of the global Mobility as a Service (MaaS) market was USD 3.40 billion in 2021, and it is anticipated to grow in revenue at a CAGR of 32.3% over the following five years. During the projected period, rising demand for micro-mobility, rapid adoption of autonomous vehicles, and increasing relevance of digitalization and digital payment solutions are anticipated to propel market revenue growth. Mobility as a service is the idea of shifting mobility services and solutions to an on-demand service.
MaaS suppliers offer a large number of transportation options when a user wants them, enabling the user to travel short as well as long distances, in place of individuals owning and operating their automobiles. MaaS services include peer-to-peer rental services like GoGet and Flexi car, ridesharing apps like Uber, and micro-mobility services (Lime Scooters, Jump Bike).
By placing accessibility at the center of modern transportation and mobility, mobility as a service offers a fresh perspective. The idea of user-centric and integrated mobility has already advanced thanks to companies like Uber, Lyft, and Ola, among others. Through a single payment interface, users can access a wide range of transportation and related services. The adoption of services has accelerated the revenue growth of the mobility service sector. Due to the tremendous demand for their mobility services, customers can now combine a variety of vehicle sharing, bike sharing, and micro-mobility services, including docked and dockless bicycle schemes. Public transportation (buses and trains) and private mobility options form the basis of the MaaS idea.
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Some Key Highlights in the Report
Some major companies in the global market report include UbiGo AB, OLA (ANI Technologies Pvt. Ltd.), Uber Technologies, Inc., Lyft, Inc., Moovel Group GmbH, DiDi Chuxing Technology, Citymapper, Shuttl (Super Highway Labs Pvt. Ltd.), Communauto Inc., and Moovit Inc.
Driver: Rise In Demand For Micro-Mobility Is A Key Revenue Growth Driving Factor
Micro-mobility is the use of lightweight vehicles, like scooters and bicycles, over short distances. For instance, bicycles and motorbikes make up a sizable share of short-distance transportation in the United States. Major companies like Daimler and BMW are now interested in micro-mobility transportation as a result of consumers’ growing interest in it. Additionally, Uber is partnering with Get around and Lime to provide rented scooters and bikes to its app. JUMP, which offers short-term rentals of electric bikes and scooters, has also been acquired by Uber. Micro mobility is growing in popularity since it can save customers money and time compared to typical taxi trips. So, during the projected period, increasing demand for micro-mobility is anticipated to fuel market revenue growth.
Opportunities: Increasing Use Of Autonomous Cars And Electric Vehicles
Both public and private vehicles are used in mobility as a service, with ride-sharing firms accounting for the majority of revenue. Owning a private vehicle and the associated costs will become less necessary as a result of autonomous vehicles. Since drivers currently receive between 60 and 70 percent of the revenue from each ride, the elimination of the need for drivers will enable ride-sharing businesses to generate more money. By 2025, autonomous vehicles will account for a sizable portion of new vehicle sales, according to experts. They are expected to become commercially available in 2022.
Multiple parties, including telecom operators, infrastructure providers, service providers, manufacturers, the public sector, and user groups, must work together to deploy mobility as a service platform. Several areas’ governing bodies favor the Public-Private Partnership (PPP) model for project implementation. With the help of this strategy, private businesses can join government initiatives or vice versa, deploying and funding projects. It becomes difficult to integrate public and private transportation suppliers. Public transportation is based on the supply and demand equation, while private transportation is on demand. The availability of infrastructure for mobility as a service is a significant barrier because it depends on the individual governments’ policies or willingness to adapt to change.
Service Type Outlook (Revenue, USD Billion; 2019-2030)
- Bi-Cycling Sharing
- Ride Hailing
- Car Sharing
- Bus Sharing
- Self-Driving Car Service
Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
- Four Wheelers
Type Outlook (Revenue, USD Billion; 2019-2030)
Business Model Outlook (Revenue, USD Billion; 2019-2030)
- Business-to-Business (B2B)
- Business-to-Customer (B2C)
- Peer-to-Peer (P2P) Rentals
Propulsion Type Outlook (Revenue, USD Billion; 2019-2030)
- ICE Vehicle
- Electric Vehicle
- Hybrid Electric Vehicle
- CNG/LPG Vehicle
Operation System Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Personalized Application Service
- Journey Management
- Journey Planning
- Flexible Payments and Transaction
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- the Asia Pacific
- Latin America
- Middle East & Africa
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