According to the latest analysis by Emergen Research, the Global Mobility as a Service Market size is projected to exceed USD 523.61 Billion in terms of revenue from USD 75.97 Billion in 2019, delivering a CAGR of 26.3% through by 2027. Growing challenges of greenhouse gas emission, traffic congestions, and air pollution are the key factors accelerating the shift towards efficient asset utilization by a transition from an ownership model of private assets to user-ownership of shared assets.
Shared transportation is equitable, efficient and cost-effective as compared to traditional mobility. Growing consumer awareness regarding benefits of shared mobility, including affordability, reliability, efficiency, and others will foster MaaS market size. Growing trend of cashless payments with high network connectivity, integration of telecom & transportation industries along with rise in mobility as a service through blockchain, are other key factors stimulating industry growth over the forecast period.
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Key Highlights From Report
- Based on service type, the ride-hailing sub-segment is projected to showcase a CAGR of 25.7% through 2027. The robust growth can be attributed to the global acceptance of ride-hailing at all levels, ranging from personal requirements to enterprises. Moreover, assured pickups and effortless cashless transactions offered by ride-hailing services will supplement segmental revenue share.
- Based on application, the android sub-segment is expected to make major revenue contributions to the Mobility as a Service market share in the forecast period. The robust growth can be attributed to the massive adoption of android smartphones by general public owing to their lower prices and variety of functions as compared to the other application types.
- Based on business model, the Business to Consumer or B2C sub-segment dominated the Mobility as a Service market share with a revenue contribution of nearly USD 35.0 Billion in 2019 and is expected to gain traction on account of innovative methods employed by enterprises to their business value by connecting with their customers in a user-friendly manner.
- In the regional landscape, the Asia Pacific region is expected to exhibit a notable growth rate of 30.5% over the projected timeframe. The robust growth can be attributed to the rise in number of issues associated with the current transportation infrastructure in the region.
- Europe is expected to be a major revenue contributing ground for the mobility as a service industry due to emergence of new mobility concepts in the region. Several countries across Europe are focusing on mitigating the negative environmental effects by formulated an action plan for low-emission mobility and optimizing the transport system along with improving efficiency.
- Key players operating in the global mobility as a service market include Beeline Singapore, UbiGo AB, Shuttl, Citymapper, Uber technologies, Ola, Lyft, Inc., Moovel Group GmBH, Communauto, and Smile Mobility, among others.
For the purpose of this report, Emergen Research has segmented the Global Mobility as a Service Market based on service type, application, business model, vehicle type, and region:
- Service Type Outlook (Revenue, USD Billion; 2017-2027)
- Self-driving car service
- Bi-cycle sharing
- Car sharing
- Bus sharing
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Business Model Outlook (Revenue, USD Billion; 2017-2027)
- P2P Rentals
- Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
- Passenger cars
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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