Mobility as a Service Market Research Report: By Type (Public and Private), Service Type (Car, Bus, Ride), Business Model (Business to Business, Business to Customer and Peer to Peer), Application Platform (Android, iOS and others) and Region (North America, Europe, China, Asia-Pacific and Middle East & Africa) - Forecast 2027

ID: VPR/A&T/1058 Publishing Year: January 2022 Pages: 62 Format:   


Mobility as a Service Market Overview:

The Mobility as a Service Market is projected to grow from USD 107 Billion in 2020 to reach USD 750 Billion by 2027; it is expected to grow at a CAGR of 32.07% from 2020 to 2027.

The concept of transferring Mobility Services and Solutions to an on-demand service is known as Mobility as a Service (MaaS). Instead of individuals owning and managing their own vehicles, MaaS benefactors provide a wide selection of transportation options when and when the user needs them, allowing the user to travel in existing and future cities. MaaS services include rideshare apps (Uber), peer-to-peer rental services (GoGet, Flexicar), and micromobility services (Lime Scooters, Jump Bike). The government is attempting to implement tight laws and regulations to limit environmental pollutants because ordinary automobiles are the source of pollution. The recent trend of power company growth has accelerated market growth. The Deloitte Centre for Energy Solutions works with firms in and around mobility to promote the future of mobility, and electric power companies are confident in their ability to play an important part in that ecosystem. There have been times when frequent passengers have had to board multiple types of transportation at the same time. The LOM was established to address issues of transportation inequity, to maintain transportation commuting, and to preserve infrastructure. Its goal is to assist isolated places by launching innovative, sustainable, and accessible transportation options (carpooling, autonomous shuttles, transportation on-demand, etc.).

Key Players:

The Key Players of the Global Mobility as a Service Market are Daimler AG (Germany), BayerischeMotorenWerke AG (BMW) (Germany), Deutsche Bahn (Germany), Xerox Corporation (US), Lyft, Inc (US), MaaS Global Oy (Switzerland), GrabTaxi Holdings Pte Ltd (Singapore), Beijing Xiaoju Technology Co., Ltd (China), Uber Technologies, Inc. (US), Communauto (Canada), Moovit Inc. (Israel), ANI Technologies Private Limited (India), Bridj Pty Ltd (Australia), JapanTaxi Co., Ltd (Japan), and Wiwigo (India)

Market Drivers:

Rapid urbanisation around the world is one of the most important drivers for MaaS development. According to the World Health Organization (WHO), over half of the world's population lives in cities, with that percentage expected to rise to around 60% by 2025. The growing usage of automobiles by a wide segment of the population has exacerbated traffic congestion and parking issues in urban areas. As a result, regularised public transportation systems have developed quickly. Countries are now working on a variety of projects, with an emphasis on inter-city public transportation networks such intra-city buses, metros, light rail, and high-speed rail. Smart cities, which require MaaS, provide effective solutions for moving traffic in a more convenient, faster, and cost-effective manner, hence generating demand for these services.

RESTRAINT:

The COVID-19 epidemic has had a significant influence on the travel, hotel, ride-sharing, and in-venue entertainment industries, among others. The lack of drivers, passenger reluctance to use shared rides, and the cost of sanitization SOPs are just a few of the significant issues that ride sharing service providers will face. All players in the mobility as a service ecosystem are likely to be impacted in the current scenario. Big players might survive with cash reserves; but, startups would be susceptible in such circumstances, since funding transactions are likely to take longer to materialise as the pandemic has moved investors and decision-making processes to the back burner. Furthermore, decision-makers may wish to assess the economic impact of the COVID-19 pandemic before investing in MaaS, given the social distancing norms that exist during and after the COVID-19 scenario.

Market Segmentation:

Service type, solution, transportation type, vehicle type, application platform, need type, organisation size, and usage are all used to segment the Mobility as a Service Market. The growth of segments allows you to analyse specific pockets of growth and market approaches, as well as establish your main application areas and target market differences.

The Mobility as a Service Market is divided into car sharing, bus sharing, rail, ride hailing, bicycling sharing, self-driving automobiles, and others based on service type. Due to the rising options for booking and comfort, which has increased demand for rail hailing services, the ride hailing segment held a higher share in the Mobility as a Service Market in 2021.

The Mobility as a Service Market is divided into navigation solutions, ticketing solutions, technology platforms, insurance services, telecom connectivity providers, and payment engines based on the solution. The navigation solutions category accounted for the largest share of the market in 2021, owing to the growing importance of passenger safety and the need to reduce journey time, which has increased demand for navigation solutions.

The Mobility as a Service Market is divided into public and private segments based on the mode of transportation. Due to expanding vehicle traffic, which has increased demand for mobility services, the public category accounted for the largest share of the market in 2021.

Regional Analysis:

The Global Mobility as a Service Market is examined, with market size data provided by nation, service type, solution, mode of transportation, vehicle type, application platform, requirement type, organisation size, and usage, as mentioned previously.

The United States, Canada, Mexico, the United Kingdom, Germany, France, Spain, Italy, the Netherlands, Switzerland, Russia, Belgium, Turkey, the rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, the rest of Asia-Pacific, South Africa, Saudi Arabia, the United Arab Emirates, Israel, Egypt, and the rest of the Middle East are among the countries covered in the global Mobility as a Service Market Report.

Because of the existence of top Mobility as a Service (MaaS) providers and a high rate of public adoption of IoT devices across the region, China dominates the Asia-Pacific Mobility as a Service Market. The increase of the enterprise sector, internet penetration, and Mobile Devices for the public sector in the United States is contributing to the country's growth in the North American Mobility as a Service Market. However, there is a growing demand for mobility as a service (MaaS) among commercial organisations in Germany in order to comply with strict European government rules for public emission control, which is adding to the country's growth in the Europe Mobility as a Service Market.



Frequently Asked Questions
Mobility as a Service Market is predicted to grow at 32.07% through forecast period of 2020-2027
By 2027, worth USD 750 Billion is estimated for the Mobility as a Service Market.
Rapid urbanisation around the world is one of the most important drivers for MaaS development.
Daimler AG (Germany), BayerischeMotorenWerke AG (BMW) (Germany), Deutsche Bahn (Germany), Xerox Corporation (US), Lyft, Inc (US), MaaS Global Oy (Switzerland), GrabTaxi Holdings Pte Ltd (Singapore), Beijing Xiaoju Technology Co., Ltd (China), Uber Technologies, Inc. (US), Communauto (Canada), Moovit Inc. (Israel), ANI Technologies Private Limited (India), Bridj Pty Ltd (Australia), JapanTaxi Co., Ltd (Japan), and Wiwigo (India)

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