Shared Mobility Market to Hit USD 690.45 Billion by 2030 Owing to Changing Mobility Preferences Coupled with Government Initiatives and Regulations | By SNS Insider

According to SNS Insider’s research, the shared mobility market continues to grow rapidly due to a confluence of factors, including urbanization, environmental concerns, cost-efficiency, technology, changing consumer preferences, government support, partnerships, flexibility, pandemic resilience, and data-driven insights.


Pune, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that in 2022, "The Shared Mobility Market held a valuation of USD 192.64 Billion, and it is projected to attain USD 690.45 Billion by 2030, with an anticipated compound annual growth rate (CAGR) of 17.3% throughout the forecast period from 2023 to 2030".

Market Overview

Shared mobility refers to a transportation concept where individuals share vehicles, often on a short-term basis, rather than owning their own personal cars. This innovative approach to transportation is gaining popularity in urban areas around the world, driven by a variety of factors such as environmental concerns, congestion, cost savings, and the rise of technology platforms that facilitate sharing. Many cities are integrating shared mobility services with traditional public transportation, allowing commuters to combine modes like buses, subways, and shared vehicles to reach their destinations efficiently.

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Market Analysis

The shared mobility market has experienced significant growth in recent years, driven by several key factors that continue to shape its expansion. The rapid pace of urbanization has led to increased traffic congestion in cities worldwide. Shared mobility services, such as ride-sharing and car-sharing, offer convenient alternatives to owning a personal vehicle, reducing the number of cars on the road and easing traffic congestion. Growing awareness of environmental issues and the need to reduce carbon emissions have prompted individuals and governments to seek sustainable transportation solutions. Shared mobility services often include electric or hybrid vehicles, contributing to a reduction in greenhouse gas emissions. Shared mobility options, such as ride-sharing and bike-sharing, are often more cost-effective than owning and maintaining a personal vehicle. This cost savings appeal to both individuals and businesses, particularly in urban areas where parking costs are high.

Shared Mobility Market Overview & Scope:

Report AttributesDetails
Market Size in 2022USD 192.64 Billion
Market Size by 2030USD 690.45 Billion
CAGRCAGR of 17.3% over 2023-2030
Key Segmentsby Service Model (Ride-Hailing, Bike Sharing, Ride Sharing, Car Sharing, Others)

by Vehicles (Cars, Two-Wheelers, Others)

by Business Model (P2P, B2B, and B2C)

by Power Source (Fuel Powered, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, Battery Electric Vehicle)
Key Market PlayersAvis Budget Group, car2go NA LLC, Beijing Xiaoju Technology Co Ltd., global car-sharing car rental Ltd., Grab, Uber Technologies Inc., ANI Technologies Pvt. Ltd., Lyft Inc., Careem, Gett. and other players
20% free customization scope (equivalent to 50 analyst working hours)If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization.
Pricing & Purchase OptionsAvail customized purchase options to meet your exact research needs. Explore purchase options.

Key Takeaway from Shared Mobility Market Study  

  • The Cars Segment is well-positioned to dominate the market due to its appeal to a broad consumer base, adaptability to changing circumstances, technological advancements, sustainability efforts, urbanization trends, and corporate adoption. As the shared mobility landscape evolves, shared cars are likely to play a pivotal role in shaping the future of transportation.
  • The Ride-Hailing Segment is set to dominate the market due to its unmatched convenience, cost-effectiveness, technological advancements, global presence, employment opportunities, eco-friendly initiatives, and integration with public transportation. As these services continue to evolve and expand, they are likely to remain a pivotal component of the future of shared mobility.

Recent Developments

  • In an exciting development within the ever-evolving world of shared mobility, Dutch startup GO Sharing has announced a strategic partnership with Turkey-based BinBin. This collaboration is set to reshape the landscape of shared transportation services, bringing innovative solutions to both local and international markets.
  • Lagos-based start-up Shuttlers has successfully secured $4 million in funding to accelerate its shared mobility solution across Nigeria, marking a significant milestone in the country's burgeoning transportation sector. The funds will be pivotal in expanding Shuttlers' fleet, enhancing its technology infrastructure, and extending its services to more cities across the country.

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Market Dynamics Analysis

The shared mobility market is witnessing dynamic shifts driven by a confluence of factors. On the driver's side, increasing urbanization, rising environmental concerns, and a growing preference for cost-effective transportation options have fueled the demand for shared mobility services. Technological advancements, particularly in the realm of mobile apps and GPS tracking, have made it easier than ever for consumers to access and utilize shared mobility services. Moreover, the COVID-19 pandemic has accelerated the adoption of shared mobility as people seek more flexible and hygienic transportation alternatives. However, several restraints and challenges persist. Infrastructure constraints, such as limited charging stations for electric shared vehicles, pose hurdles to the market's expansion. Regulatory complexities and varying policies across regions also create uncertainty for service providers. Additionally, concerns about data privacy and security are growing, as the industry heavily relies on customer data for personalized services. In navigating these dynamics, industry players must strike a balance between innovation, regulatory compliance, and addressing consumer concerns to sustain and thrive in the evolving shared mobility landscape.

Key Regional Developments

The shared mobility market in the North America has been dominated by ride-hailing services like Uber and Lyft. However, there is a growing interest in electric scooters and bikes, particularly in urban areas. Regulatory challenges, such as the classification of gig workers, continue to impact the industry's growth. Shared mobility is in its nascent stages in many Eastern European countries, but there's growing potential due to increasing urbanization and demand for cost-effective transportation options. China is a global leader in shared mobility, with massive fleets of shared bicycles, e-scooters, and car-sharing services. The government has been supportive of new mobility solutions, and China's vast urban population has driven adoption.

Impact of Recession

The ongoing recession has presented both challenges and opportunities for the shared mobility market. While reduced consumer spending and financial pressures are clear drawbacks, there is also potential for innovation, adaptation, and government support to help the industry weather the economic storm. Shared mobility providers that can navigate these challenges and respond effectively to changing consumer needs may emerge stronger in the post-recession landscape.

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Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Shared Mobility  Market Segmentation, By Service Model

8.1 Ride-Hailing

8.2 Bike Sharing

8.3 Ride Sharing

8.4 Car Sharing

8.5 Others

9. Shared Mobility Market Segmentation, by Vehicles

9.1 Cars

9.2 Two-Wheelers

9.3 Others

10. Shared Mobility  Market Segmentation, by Business Model

10.1 P2P

10.2 B2B

10.3 B2C

11. Shared Mobility  Market Segmentation, by Power Source

11.1 Fuel Powered

11.2 Hybrid Electric Vehicle (HEV)

11.3 Plug-in Hybrid Electric Vehicle (PHEV)

11.4 Battery Electric Vehicle (BEV)

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

13. Company Profiles

13.1 Avis Budget Group

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 car2go NA LLC

13.3 Beijing Xiaoju Technology Co Ltd.

13.4 global car-sharing car rental Ltd.

13.5 Grab

13.6 Uber Technologies Inc.

13.7 ANI Technologies Pvt. Ltd.

13.8 Lyft Inc.

13.9 Careem

13.10 Gett

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share analysis

14.3 Recent Developments

15. Conclusion

Browse Adjacent Markets: Semiconductor Industry Research or Information & Communication Technology Industry Research Reports & Consulting

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