Farmington, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The Global Mobility as a Service Market Size Was Valued At USD 187.31 Billion In 2021. The Market Is Projected To Grow From USD 236.42 Billion In 2022 To USD 774.93 Billion By 2030, Exhibiting A CAGR Of 18.5% During The Forecast Period. The COVID-19 outbreak has been frightening and unprecedented on a worldwide scale. As a result, compared to levels prior to the pandemic, demand for mobility as a service has been lower than anticipated in all regions. Our analysis shows that between 2019 and 2020, the global market for mobility as a service shrank by 25.7%.
A large portion of the air pollution in the globe is caused by the transportation industry. Because of all the cars, air pollution is getting worse all around the planet. Finding alternate means of transportation is becoming more crucial as a result. Due to the increase in popularity and usage of shared mobility over the coming years, the industry is expected to expand. People believe that car sharing is more affordable than owning a car because it saves on fuel and maintenance costs and improves air quality.
Request Sample Copy of Report “Mobility as a Service Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- February 2022: Uber announces that it is expanding its services in Egypt to include a world-first B2B service called "Uber Bus for Business". This service provides businesses with customized transportation programs for their employees' daily commutes. The service also solves Cairo's congestion problem by reducing traffic on the streets.
- May 2021: Uber announces a strategic partnership with Arrival, a global technology company that makes electric vehicles. Uber has entered into a partnership to develop and deploy electric vehicles on its ride-hailing platform. It will also support Uber's plan to become a completely emission-free platform by 2040.
Segment Overview
Service Type Insights
The ride-hailing industry is anticipated to dominate the market for the duration of the mobility as a service market projection. The fact that ride-hailing services provide a variety of booking alternatives and comfort is one of the primary factors influencing the segment's growth. The fact that ride-hailing services make it simpler to be picked up and dropped off than traditional taxis is one factor contributing to the market's expansion.
Application Insights
The Android market segment is anticipated to dominate the MaaS market over the forecast period. The fact that Android OS is less expensive than iOS is one of the key factors influencing this market's expansion. The iOS segment of the market is anticipated to expand quickly over the course of the forecast period. Many consumers choose iOS because it is more secure and protects personal information from prying eyes, despite the fact that it is significantly more expensive than the Android operating system.
Regional Outlook:
Asia Pacific is anticipated to hold the highest share of the mobility as a service market, which was valued at USD 74.45 billion in 2021, over the course of the forecast period. The rising cost of owning an automobile, fast urbanisation, and rising fuel prices, particularly in nations like India and China, are some of the factors that will aid Asia Pacific in continuing to lead the market in the next years. The fact that there isn't enough public transportation to accommodate the rising population is one factor contributing to the expansion of MaaS services in this region.
On the other hand, North America is anticipated to hold the second-largest market share during that time. The key factors keeping this region competitive in the market are consumers' growing awareness of pollution levels and traffic congestion. Additionally, an increasing number of European nations are purchasing electric vehicles (EVs) and installing charging stations so that these EVs may be recharged. These significant aspects are beginning to have an increasing impact on market expansion.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 18.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 774.93 Billion |
| By Service Type | Ride-Hailing, Car Sharing, Taxi Services, Others |
| By Application | iOS, Android, Others |
| By Companies | Uber Technologies Inc. (U.S.), Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), ANI Technologies Pvt. Ltd. (India), Grab (Singapore), Shuttl. (India), BMW Group (Germany), Moovel Group GmbH (Germany), Others |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Trends:
Governments all across the world are enacting tough emission regulations because traditional automobiles emit a lot of carbon, preventing pollution from getting worse. Therefore, the leading mobility as a service firms are converting their fleets to electric vehicles so they can provide clean mobility solutions for the urban population in the future. This is done in order to reduce carbon emissions and develop their businesses in nations with tight emission standards. For instance, Uber Technologies Inc. declared in September 2020 that by 2040, all of its trips within the United States would be made in electric vehicles.
Driving Factors:
Governments all throughout the world are promoting digital payments. For instance, the Indian government launched the Digital-India project to promote cashless commerce and electronic payment methods throughout the nation. Because there are more and more e-commerce businesses and more and more consumers using e-wallets to pay for goods, the market for mobility as a service is expanding. The development of safe and secure payment gateways is also anticipated to have a significant impact on the market throughout the forecast period. Several MaaS companies, like Uber, Lyft, and Ola, give cashback and shopping coupons to customers who pay with e-wallets.
Restraining Factors:
Because so few individuals in several emerging and undeveloped economies have access to the internet, the market's growth throughout the projection period is likely to be restrained. People who use ride-sharing and ride-hailing applications and services are becoming increasingly concerned about data security and privacy. This will probably slow the market's expansion in the near future.
Key Segments Covered:
Top Market Players:
Uber Technologies Inc. (U.S.), Lyft, Inc. (U.S.), Didi Chuxing Technology Co. (China), ANI Technologies Pvt. Ltd. (India), Grab (Singapore), Shuttl. (India), BMW Group (Germany), Moovel Group GmbH (Germany), and others.
By Service Type
- Ride-Hailing
- Car Sharing
- Taxi Services
- Others
By Application
- iOS
- Android
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
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- Disaster Recovery as a Service (DRaaS) Market - The global Disaster Recovery as a Service (DRaaS) Market is eexpected to grow at CAGR of 24.8% from 2022 to 2030. The global market accounts for a valuation of USD 12.81 billion at present, and is predicted to reach USD 75.22 billion by 2030.
- Container As A Service (CAAS) Market - The Global Containers As A Service Market size was valued at USD 1.6 Billion in 2022 and is projected to reach USD 19.28 Billion by 2030, growing at a CAGR of 32.15% from 2023 to 2030.
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