Mobility as a Service Market 2024: Size, Share, Key Players, Future Scope and Business Opportunities By 2032
IMARC Group, a leading market research company, has recently releases report titled “Mobility as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global mobility as a service market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the mobility as a service market?
The global mobility as a service market size reached US$ 5.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 50.5 Billion by 2032, exhibiting a growth rate (CAGR) of 26.58% during 2024-2032.
Factors Affecting the Growth of the Mobility as a Service Industry:
- Increasing Urbanization and Smart City Initiatives:
The rapid urbanization across the globe, driving the demand for efficient and sustainable transportation solutions, is one of the major factors boosting the market growth. Moreover, the rising expansion of cities and populations, leading to congestion, pollution, and inefficiencies, is catalyzing the market growth. In line with this, the increasing adoption of mobility as a service (MaaS) solutions by integrating various forms of transportation into a single and accessible platform is fueling the market growth. Additionally, the rising smart city initiatives that prioritize intelligent transportation systems and digital infrastructure are acting as a growth-inducing factor.
- Rapid Technological Advancements and Digital Integration:
The rapid advancement of technology is a pivotal factor fueling the market growth. In line with this, the rising innovations in mobile technology, cloud computing, and big data analytics that transform how transportation services are delivered and consumed are fueling the market growth. Mobile applications are the backbone of MaaS, providing users with seamless access to various transportation modes such as public transit, ride-sharing, bike-sharing, and car rentals through a unified platform. Additionally, the rising advancements in artificial intelligence (AI) and machine learning (ML) that enhance the predictive capabilities of MaaS platforms, enabling more efficient route planning and personalized travel recommendations, are boosting the market growth.
- Changing Consumer Preferences and Behavioral Shifts:
The changing consumer preferences towards convenience, flexibility, and sustainability are positively impacting the market growth. In line with this, the rise of the sharing economy, characterized by an increasing acceptance of shared mobility services, as urban dwellers prioritize hassle-free and cost-effective transportation options that reduce the need for private vehicle ownership, is favoring the market growth. Furthermore, the growing number of consumers seeking eco-friendly transportation alternatives to minimize their carbon footprint is acting as a growth-inducing factor. Additionally, the rising ability to customize travel plans according to individual preferences, combined with the economic and environmental benefits of shared mobility, is driving the market growth.
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Motor Grader Market Report Segmentation:
Mobility as a Service Market Report Segmentation:
Breakup by Service Type:
- Ride-Hailing
- Ride-Sharing
- Car-Sharing
- Bus/Shuttle Service
- Others
Ride-hailing represented the largest segment due to its widespread adoption and convenience in urban areas.
Breakup by Transportation Type:
- Private
- Public
Private accounted for the largest market share as it offers greater flexibility and comfort for individual users.
Breakup by Application Platform:
- Android
- iOS
- Others
Android represented the largest segment owing to its dominant market share in the global smartphone market.
Breakup by Propulsion Type:
- Electric Vehicle
- Internal Combustion Engine
- Others
Internal combustion engine constituted the largest segment as it remains the most common and widely available engine type for vehicles.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe’s dominance in the mobility as a service market is attributed to its advanced infrastructure, supportive regulatory environment, and high demand for sustainable mobility solutions.
Global Mobility as a Service Market Trends:
The burgeoning integration of autonomous vehicles, as they provide safer, more efficient, and cost-effective transportation solutions, is positively influencing the market growth. Moreover, the rising adoption of micro-mobility options, such as e-scooters, e-bikes, and shared bicycles for short-distance travel within urban areas, as they offer a convenient and eco-friendly alternative to traditional transport modes, is contributing to the market growth. Additionally, the increasing collaborations between MaaS providers and local governments to facilitate the integration of public transit with shared and on-demand mobility services, creating a seamless urban mobility ecosystem, is fueling the market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
- Citymapper, Inc
- DiDi Chuxing Technology Co.
- Europcar Mobility Group
- Gett Inc.
- Lyft Inc.
- Moovit Inc. (Mobileye Global Inc.)
- Ola Cabs (ANI Technologies Private Limited)
- Shuttl (Super Highway Labs Pvt. Ltd.)
- SkedGo Pty Ltd
- Splyt Technologies Ltd.
- Uber Technologies Inc
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