Mobility as a Service Market worth $40.1 billion - Global Key Players, Trends, Industry Size & Forecast 2030
The Mobility as a Service Market size is projected to reach USD 40.1 billion by 2030 from an estimated USD 3.3 billion in 2021, at a CAGR of 32.1% from 2021 to 2030. The growth of this market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, need to reduce CO2 emissions, improved 4G/5G infrastructure, and penetration of smartphones. Therefore, the mobility as a service market is expected to witness significant growth in the future.
Electric
Mobility as a Service is boosting the mobility as a service market (MaaS. It
combines highly innovative technologies and new business models to create
conditions for the large-scale adoption of electric vehicles. For example, more
than 20% of Communauto’s fleet consists of electric vehicles. The use of
electric vehicles not only reduces carbon emissions but also lowers noise and
air pollution. They can also be cheaper to run per mile and reduce dependency
on fossil fuels. Along with the use of electric vehicles, autonomous
self-driving vehicles are expected to be used for ride-sharing purposes and
would create immense opportunities for MaaS.
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With the
growing popularity and usage of MaaS solutions, the journey management segment
is expected to register the highest growth rate of 34.7% from 2021 to 2030. Journey management includes creating a
seamless travel experience (single or multi-modal). It also includes providing
a range of data generated by users over their transit to the network operators
to better understand the network operation and feedback/requirements of users.
Journey management allows users to choose any multi-modal commute along with
personalization options. It is a dynamic service that gives users real-time
information about traffic congestion for an optimized commute.
The bus sharing segment is expected to register the highest CAGR of
35.6% from 2021 to 2030. MaaS players provide monthly passes or subscriptions
for bus services, prompting customers to avail buses as a preferred mode for
short as well as long-distance commute. Bus sharing is an emerging concept with
multiple pilot projects running across the world. The integration of bus
services with private transport like ride-hailing and car-sharing services will
be key to the success of the market for mobility as a service in this segment. Buses
and cars are widely used for enterprise/corporate mobility. Thus, integrating
on-demand car-sharing transportation with bus-sharing services will be highly
efficient and easy to implement.
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Asia Oceania is estimated to be the
second-fastest-growing market due to significant growth in the adoption of
on-demand mobility services in China, Indonesia, Singapore, and Australia. The
region is expected to lead the market by 2030. The Asia Oceania MaaS market is
witnessing impressive growth with increasing mergers and acquisitions,
collaborations, and MaaS offerings. In 2018, Grab acquired Uber’s Southeast
Asia operations and merged Uber’s ride-hailing and food delivery businesses
with its own operations. In the same year, Toyota collaborated with Grab to
expand ride-sharing and MaaS in Southeast Asia. Toyota invested USD 1 billion
in Grab to boost its operations in more than 200 cities in the Southeast Asian
region. In 2019, Grab integrated public transportation options in its app, and
became the first company to introduce MaaS solutions for mass consumers in
Thailand.
Key Market Players:
The mobility as a service market is dominated by major players
such as Moovit Inc. (Israel), MaaS Global Oy (Finland), Citymapper (UK),
Mobilleo (UK), SkedGo Pty Ltd (Australia), UbiGo (Sweden), Splyt (UK), Qixxit
(Germany), Communauto (Canada), and Tranzer (Netherlands).
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