Pune, India, April 07, 2022 (GLOBE NEWSWIRE) -- The Mobility as a Service Market size is projected to reach USD 210.44 billion in 2026, at a CAGR of 1.9% during the forecast period. The global Mobility as a service market size was USD 182.12 billion in 2018. Mobility as a Service Market to Witness Remarkable Growth Owing to Increasing Concern about Environmental Pollution and Need to Control them. Uber, Ola, and Lyft Holding Majority Shares in Market on Account of Collaborative Efforts to Expand Geographical Reach Projects.
Increasing popularity of carpool and shared mobility services to suffice to the growing air pollution. Carpool is considered an alternate form of transport and is cost-efficient as well. A recently published report by Fortune Business Insights™ offers a detailed analysis of the market and its prime growth trajectories.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2021 to 2028 CAGR | 1.9% |
| 2026 Value Projection | USD 210.44 billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 182.12 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 120 |
| Segments covered | Ride-Hailing, Car Sharing, Taxi Services, Others |
| Growth Drivers | Government-supported E-wallets for Mobility Service Applications to Promote Growth |
| Skyrocketing Fuel Prices to Help Asia Pacific Dominate Market |
Market Drivers-
Government-supported E-wallets for Mobility Service Applications to Promote Growth
Various factors are responsible for mobility as a service market growth. The first and most important of them is the increasing price of fuel that has propelled automobile manufacturing industries to promote the growth of alternative fuels such as LNG and CNG. Secondly, the growing population and their increasing transport needs cannot be fulfilled by the public transport provided by the government. Thus, there is a need for quick and personal mobility services without having to worry about maintenance expenditure, thereby boosting the market. Thirdly, currently trending carpool services are also adding impetus to the market. Besides this, the increasing number of e-commerce companies and the growing utilization of e-wallets for cashless payment to mobility service applications, supported by governments, are likely to help augment the market in the forthcoming years as well.
On the flip side, factors such as the rise in traffic congestion during peak hours may pose a threat to the market in the long run. Nevertheless, a lead analyst at Fortune Business Insights™ says, “the increase in popularity of light vehicles such as scooters and bikes for short distances are expected to create lucrative growth opportunities for the market in the forecast duration.”
Highlights of the Report-
The report is based on extensive research on the market and its growth parameters, including drivers, restraints, challenges, and opportunities in the market. It also includes the table of segmentation, along with a list of segments dominating the market and its attributed factors. The report throws light on the significant industry developments, current mobility as a service (MaaS) market trends, and other interesting insights offered by the market. For more information on the market, log on to the company website.
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Regional Segmentation-
Skyrocketing Fuel Prices to Help Asia Pacific Dominate Market
Geographically, the global mobility as a service (MaaS) market is categorized into the regions of Europe, North America, Asia Pacific, and the rest of the World. Among these, Asia Pacific is holding the largest MaaS market share on account of increasing fuel prices and the rise in expenditure in terms of vehicle ownership in developing nations such as China and India. In 2018, Asia Pacific generated a revenue of USD 108.54 billion. Additionally, rapid urbanization, coupled with the developing infrastructure for transportation facilities in these nations, also stands as a primary reason helping this region emerge dominant in the market. Furthermore, the lack of proper public transportation facilities to suffice to the needs of the growing population will also aid in the expansion of the regional market. On the other side, the North America market is likely to second the market position owing to factors such as increasing awareness among consumers to control pollution levels, reduce traffic congestion, and rise in fuel prices. This, coupled with the rise in the use of e-bike rentals that will save time and fuel cost, is expected to help this region earn high MaaS market revenue in the forecast period.
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Competitive Landscape-
Launch of Electric Vehicles for High Revenue Generation will Intensify Market Competition
Significant mobility as a service (MaaS) market manufacturers are emphasizing on geographical expansion for maintaining a foothold in the market competition. Other strategies acquired by players to attract high mobility as a service (MaaS) market revenue includes merger and acquisitions, company collaborations, joint ventures, amalgamations, and others. Besides this, companies are also investing huge sums into research, development, production, and launch of electric vehicles and e-bikes, keeping in mind the need to conserve the environment.
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List of Players Operating in the Mobility as a Service (MaaS) Market are as follows:
- Lyft
- Grab
- Gett
- Uber
- Ola
- Didi Chuxing
Mobility as a Services Market Segmentation:
By Service Type:
- Ride-Hailing
- Car Sharing,
- Taxi Services
- Others
By Application Type:
- iOS
- Android
- Others
Table Of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Analysis
4.3. SWOT Analysis
4.4. Technological Developments
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on Mobility as a service Market
5. Global Mobility as a Service Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
Continued…
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