With 12.45% CAGR, Shared Mobility Market to Reach USD 398.61 Billion by 2029 – Growth Demand, New Product Launch, Key Companies, Latest Innovations, and Business Opportunities - Adroit Market Research

Asia Pacific will lead as the largest revenue share through the projected period in the global shared mobility market. The vehicle segment is likely to dominate the shared mobility industry by the end of the forecast period

Dallas,Texas, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The global Shared Mobility Market is expected to reach close to US$ 389.61 Bn by end of 2031 at an annualized growth rate of 12.45% through the forecast span 2022-231.

Today more than 40 million sharing trips are being booked through e-hailing platforms every day. The number of shared mobility trips has almost doubled in last four years. People would share their ride with strangers which is making their travel time less than 15% while also reducing the costs. Moreover, auto-players are making high volume investments in the shared mobility industry. As a result, shared mobility shared mobility has expanded over time and has gained wider prominence in past few years.

According to studies, around 72 percent of the total amount of disclosed investment, venture capital and private-equity players invested in shared mobility.  Owing to benefits such as reduced individual passenger vehicles, reduced carbon emissions, greater environmental awareness, reduced fuel consumption, cost savings, convenience, increased economic activity, improved accessibility, the shared mobility is experiencing rapid adoption thus fostering remarkable progress of global shared mobility market.

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Global Shared Mobility Market Scope

Study Period2019-2031
Market Size in 2031 USD 389.61 Billion
Segment Coveredby Service Model, Vehicle , BY Region, 
by Service Model Coveredride hailing, ride sharing, bike sharing, car sharing, and others
Vehicle Coveredcars, two-wheelers, and others
Regions CoveredNorth America, Europe, Asia Pacific, Middle East and Africa, South America
Key Players ProfiledANI Technologies Pvt. Ltd., car2go NA, Beijing Xiaoju Technology Co, Ltd., Avis Budget Group, LLC, Grab, Mobiag, movmi Shared Transportation Services Inc., Uber Technologies Inc., Lyft, Inc.

The emergence of new transportation options including ridesharing with strangers in groups, peer-to-peer car sharing, and shared electric scooters indicate a significant expansion of the global shared mobility market. Next big thing is robo-taxies which have seen as a huge investment by public and government entities has escalated the global shared mobility market.

However, private vehicles still remain the popular mode of transport worldwide which is around 67 percent and public mode of transportation is 38 percent. This significantly lowers the number of trips likely to have a greater effect on the expansion of the global market for shared mobility.

On the other hand, people are widely using shared mobility due to convenience, reduced travel time and cost, safety, competitive pricing, and availability. Competitive pricing and availability are the most important factors anticipated to replace private car ownership with shared mobility.

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The global shared mobility market is classified into car sharing, peer-to-peer car sharing, shared micro-mobility, urban aerial mobility, robo-taxi and shuttle, and e-hailing on the basis of type. Among these, the e-hailing segment drove the market. E-hailing segment accounted for the highest market share contributing more than 90% share the market. The key reason for growth of e-hailing segment growth is higher convenience.

Western European countries are financial benefits, population growth and urbanization, employment opportunities, business-to-consumer (B2C) taking place, business entities coming up with environmentally sustainable and cost-efficient alternatives, and recent technological advances have contributed to shared mobility paradigm in the region.

Here Are The Most Innovative And Cutting Edge Trends In Shared Mobility Market:

  • Startups and Scaleups are working on developing robo-taxis, Internet of Things technology integration, micromobility, electrification, and other advancements that will make mobility more efficient and reliable.
  • Recently, Bird Global, Reno, and University of Nevada partnered on shared mobility program. The e-scooters allow environmentally friendly electric transportation.

Major Points from Table of Contents:

1. Introduction
2. Research Methodology
3. Market Outlook
4. SHARED MOBILITY Market by Service, 2018-2028 (USD Billion)
5. SHARED MOBILITY Market by Vehicle, 2018-2028 (USD Billion)
6. SHARED MOBILITY Market by Region 2018-2028 (USD Billion)
7. Competitive Landscape
8. Appendix

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