Mobility as a service involves the use of public and private vehicles for travel purposes. The concept of transportation services and solutions has shifted to an on-demand service by the consumers. These services are offered to individuals owning and operating their vehicles, with ample transport options as per the requirement of the user. In addition, the users get the benefit of exploring new cities and places. The upspringing and popular apps that provide mobility as a service such as Uber, GoGet, Flexi car, and other micro-mobility services such as Lime Scooters, and Jump Bike have created a new wave of change and are trending in mobility as a service.
Stringent Laws Regarding Emissions to Bring Huge Shift in Mobility as a Service Market
The concerns related to the environment have led to the imposition of various stringent regulations which have contributed to offering pollution-free services by use of updated and new cars with PUC compulsion. Further, the growth of power industries in the current scenario may create multiple growth opportunities for the mobility as a service market.
The regulations regarding emissions have led to the growth of electric power companies. These companies play a crucial role in maintaining the ecosystem. The safe and secure travel options provided by several providers that are convenient for the travelers have gained popularity.. Such services may create multiple growth avenues for mobility as a service market.
The Law on Mobility (LOM) has been established to tackle transport-related problems, handle road transport, and maintain infrastructure. The services such as carpooling, autonomous car drives, transportation on-demand, and other services are provided on a go as per the consumer demand. The systems of mobility as a service are well developed, full-fledged, and safe for travelers which have offered lucrative growth opportunities for the mobility as a service market.
Safe and Secure Travel Option Act as Growth Booster for Mobility as a Service Market
The transportation sector is enhancing the systems to make the customer experience better and provide the best possible services. Rapid urbanization has created a huge demand for transportation services. The daily commutation needs to be hassle-free and convenient. Hence, the consumers are inclined toward easy and convenient transport services. The technological advancements have brought in new mobile apps which make the entire travel hassle-free. These apps allow the choice of destination, ticket bookings, and payment just at a click which has proved to be a game-changer for the mobility as a service market.
The B2B, B2C, and P2P rentals are the business models in the mobility as a service market. The deployment of bikes, passenger cars, and buses for transportation has facilitated transportation services and enhanced the travel experience for commuters.
R&D Activities in Mobility as a Service Market to Enhance Consumer Experience
Rigorous research and development activities are being conducted to bring new innovative techniques into the mobility as a service market to enhance the consumer experience. The development of user-friendly apps with multi-features to offer the best travel experience to the consumers may prove to be a growth booster for the mobility as a service market. The consumer shift towards mobility as a service has opened multiple growth avenues for the mobility as a service market. The collaborations and tie-ups with various service providers have strengthened the presence of key players in the market and increased the scope of expansion.
Asia Pacific to Emerge as Frontrunner in Global Mobility as a Service Market
Asia Pacific is anticipated to dominate mobility as a service market owing to the growing population and rapid urbanization in this region. Furthermore, the development of IT infrastructure and focus on smart city initiatives may bring substantial growth to this region.