The global mobility-as-a-service market accounted for a value of USD 3.9 billion in 2019 and is projected to register growth at a CAGR of 26.3% during forecast period.
COVID-19 has impacted the mobility-as-a-service market. Many countries across world are trying contagion the spread of corona virus by adopting measures such social distancing, lockdown, self-quarantine and testing. Many companies such as Uber and Lyft etc. have seen price drop as the people are avoiding using such services due to spread of corona virus. The use of public transport is also reduced immensely as majority of people are working from home. The mobility-as-a-service market will decline due to COVID-19.
For more details, visit: Global Mobility-as-a-Services Market By Service Type (Ride Hailing, Car Sharing, Others), By Application (Android and iOS), By Transportation Type, By Vehicle Type, By Solution Type, By Region, Forecast & Opportunities to 2026
The urbanization is increasing rapidly in many countries around the world. The majority of world’s population lives in urban areas and this population is likely to increase in coming years which increases road traffic, congestion and parking problems in such areas. The leads to increase in demand for smart technologies and development of transport systems. This increases demand for mobility-as-a-service market during forecast period.
On the basis of service type, the mobility-as-a-service market is segmented into ride hailing, car sharing, micromobility, bus sharing and train sharing. The ride hailing segment is expected to dominate the market during forecast period. The ride hailing segment is globally accepted and it used for personal as well as for enterprise use as it is easy to book and it provides comfort. The government is also implementing various initiatives to increase awareness among people regarding increasing pollution. The ride sharing can help in reducing air pollution which increases demand for this segment. Ride hailing is integrated with public transport service as it is on demand transport service which can be accessed by a single user. This drives growth in rail hailing market during forecast period.
On the basis of Application, the mobility-as-a-service market is segmented into android and iOS. The android segment is estimated to register growth at fastest CAGR during forecast period. Nearly more than half of the population is using android smartphones. The android consumers are higher than iOS ones. The popularity for android smartphines is increasing. The market share for android reason is estimated to reach around 64% in coming years. This drives growth in android segment during forecast period.
On the basis of transportation type, the mobility-as-a-service market is segmented into public and private. The private transportation segment is estimated to hold largest market share during forecast period. This segment includes services that provide easy integration into mobility-as-a-service platform. The need for personal mobility is increasing due to rise in urbanization across many countries of the world. Because of mobility-as-a-service, it is unnecessary for a city resident to own a private car. People prefer using private transportation and this drives growth in private transportation segment during forecast period.
Asia-Pacific region is estimated to dominate the market during forecast period. This region has high population and urbanization is also increasing in this region and this increases the demand for efficient transportation. The developing countries in this region are estimated to experience significant growth for transportation service. Many countries are shifting their focus towards smart personal mobility which reduces travel time and congestion. The countries such as India, Singapore, China and Australia are focusing on smart cities and improving 5G infrastructure which increases market for urban transportation in this region. This drives growth in Asia-Pacific region during forecast period.
The key market players in mobility-as-a-service sector are Citymapper, Whim, Moovit, Mobilleo, Skedgo, Ubigo, Splyt Technologies, Communauto, Qixxit, Tranzer, Uber, Lyft, Grab and Moovel Group.
- What are the expected industry trends over the next three to five years?
- Which of the mobility-as-a-service solution type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?