Mobility as a Service (MaaS) Market Size to Reach USD 210.44 billion by 2026, Increasing Prices of Fuel Worldwide will Help Market Gain Impetus says Fortune Business Insights™

Key companies Profiled are Lyft, Inc, Grab, Gett, Uber Technologies Inc., Ola, Didi Chuxing Technology Co, BMW, Moovel Group GmbH, Shuttl and more players.

Pune, March 30, 2020 (GLOBE NEWSWIRE) -- The global mobility as a service (MaaS) market size is anticipated to reach USD 210.44 billion by 2026 on account of the increasing popularity of carpool and shared mobility services to suffice to the growing air pollution. Carpool is considered an alternate form of transport and is cost-efficient as well. A recently published report by Fortune Business Insights™ offers a detailed analysis of the market and its prime growth trajectories. The title of the report is, “Mobility as a Service Market Size, Share, and Global Trend By Service Type (Ride-Hailing, Car Sharing, Taxi Services, Others). By Application Type (iOS, Android and Others), and Geography Forecast till 2026.” As per this report, the market value was USD 182.12 billion in 2018 and is likely to exhibit a CAGR of 1.9% between 2019 and 2026.

Highlights of the Report:

The report is based on extensive research on the market and its growth parameters, including drivers, restraints, challenges, and opportunities in the market. It also includes the table of segmentation, along with a list of segments dominating the market and its attributed factors. The report throws light on the significant industry developments, current mobility as a service (MaaS) market trends, and other interesting insights offered by the market. For more information on the market, log on to the company website.

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Competitive Landscape:

Launch of Electric Vehicles for High Revenue Generation will Intensify Market Competition

Significant mobility as a service (MaaS) market manufacturers are emphasizing on geographical expansion for maintaining a foothold in the market competition. Other strategies acquired by players to attract high mobility as a service (MaaS) market revenue includes merger and acquisitions, company collaborations, joint ventures, amalgamations, and others. Besides this, companies are also investing huge sums into research, development, production, and launch of electric vehicles and e-bikes, keeping in mind the need to conserve the environment.

List of Top Players Operating in the Mobility as a Service Market are as follows;

  • Lyft, Inc
  • Grab
  • Gett
  • Uber Technologies Inc.
  • Ola
  • Didi Chuxing Technology Co
  • BMW
  • Moovel Group GmbH
  • Shuttl

Browse Detailed Insights of This Research with TOC:

Market Drivers

Government-supported E-wallets for Mobility Service Applications to Promote Growth

Various factors are responsible for mobility as a service market growth. The first and most important of them is the increasing price of fuel that has propelled automobile manufacturing industries to promote the growth of alternative fuels such as LNG and CNG. Secondly, the growing population and their increasing transport needs cannot be fulfilled by the public transport provided by the government. Thus, there is a need for quick and personal mobility services without having to worry about maintenance expenditure, thereby boosting the market. Thirdly, currently trending carpool services are also adding impetus to the market. Besides this, the increasing number of e-commerce companies and the growing utilization of e-wallets for cashless payment to mobility service applications, supported by governments, are likely to help augment the market in the forthcoming years as well.

On the flip side, factors such as the rise in traffic congestion during peak hours may pose a threat to the market in the long run. Nevertheless, a lead analyst at Fortune Business Insights™ says, “the increase in popularity of light vehicles such as scooters and bikes for short distances are expected to create lucrative growth opportunities for the market in the forecast duration.”

Regional Segmentation:

Skyrocketing Fuel Prices to Help Asia Pacific Dominate Market

Geographically, the global mobility as a service (MaaS) market is categorized into the regions of Europe, North America, Asia Pacific, and the rest of the World. Among these, Asia Pacific is holding the largest MaaS market share on account of increasing fuel prices and the rise in expenditure in terms of vehicle ownership in developing nations such as China and India. In 2018, Asia Pacific generated a revenue of USD 108.54 billion.

Additionally, rapid urbanization, coupled with the developing infrastructure for transportation facilities in these nations, also stands as a primary reason helping this region emerge dominant in the market. Furthermore, the lack of proper public transportation facilities to suffice to the needs of the growing population will also aid in the expansion of the regional market. On the other side, the North America market is likely to second the market position owing to factors such as increasing awareness among consumers to control pollution levels, reduce traffic congestion, and rise in fuel prices. This, coupled with the rise in the use of e-bike rentals that will save time and fuel cost, is expected to help this region earn high MaaS market revenue in the forecast period.

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Mobility as a Service (MaaS)  Market:

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Merger, Acquisitions, and Partnerships
    • Distributor Analysis – For Major Players
    • Growth and Penetration Analysis
    • Porter’s Five Forces Analysis
    • PEST Analysis
    • Vendor Landscape
  • Global Mobility as a Service (MaaS) Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Service Type
      • Ride-Hailing
      • Car Sharing
      • Taxi Services
      • Others
    • Market Analysis, Insights and Forecast – By Application Type
      • IOS
      • Android
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Rest of the World

TOC Continued…!

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Key Industry Developments of Mobility as a Service (MaaS)
Market Include:

July 2019 – An Indian ride-hailing giant received the license to start their cab service in London. This geographical expansion will help the company gain an essential place in the market competition in the forthcoming years.

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