CHICAGO, April 27, 2023 (GLOBE NEWSWIRE) -- The newest report from Data Bridge Market Research, "Shared Mobility Market" examines growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive environment in great detail. In an exceptional Shared Mobility market analysis report, several aspects of the market research and analysis for the Shared Mobility industry have been underlined. By understanding that the market is regarded as the heart of the economy, this report is prepared on the basis of the ever-changing behavior of the market to make it the best one. Competent data and brilliant forecasting techniques used in this report are synonymous with accuracy and correctness. With the study of competitor analysis, the Shared Mobility industry can get a knowhow of the strategies of key players in the market that includes but are not limited to new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions.
A few of the most important objectives of the significant Shared Mobility market document include; studying and forecasting the market size in the worldwide market. The report also studies and compares the market status and forecast between major regions, namely, the US, Europe, China, Japan, India, Southeast Asia, and the rest of the world. The research studies involved in the global Shared Mobility market analysis report help to estimate several important aspects that include but are not limited to investment in a rising market, the success of a new product, and expansion of market share.
Data Bridge Market Research analyses that the shared mobility market is expected to reach USD 39.10 billion by 2030, which is USD 4.46 billion in 2022, at a CAGR of 31.18% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Private vehicles are the most popular mode of transport in almost every nation. Globally, 67% of survey respondents said they use their private vehicles normally, while 38% said they used public transportation regularly. With regards to that, it has been witnessed that hailing services especially e-hailing accounted for the largest share form $120 billion to $130 billion, which is more than 90% of the total market. Also, peer-to-peer car sharing and car sharing account for less than 10% of this market, which reflects higher convenience of e-hailing. The investments in car-sharing market, at around $3 billion, are small compared to investments in the e-hailing.
Opportunities
- Increasing demand for ride-hailing service model
The demand for the ride-hailing service model increases due to the increasing internet penetration in developing countries around the world. The rise in introduction of new types of services to ensure customer satisfaction is also anticipated to act as a major factor for the market growth. For instance, Uber, a shared mobility provider, has introduced different business variants such as UberLUX, UberSUV and Uber Black, including the use of dedicated Uber vehicles in the rental business. The increasing demand for ride-hailing services could be attributed to increased traffic congestion, passenger comfort, easier bookings and augmented government programs to increase public awareness regarding air pollution and encourage to participate in riding, especially ride-hailing. Therefore, increasing demand for ride-hailing service model will create lucrative opportunities for the market growth
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Shared Mobility market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the worldwide Shared Mobility Industry are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
The Shared Mobility Market is Dominated by Firms Such as
- Avis budget group (U.S.)
- car2go NA, LLC (U.S.)
- Beijing Xiaoju Technology Co, Ltd. (China)
- Mobiag (Portugal)
- movmi Shared Transportation Services Inc. (Canada)
- Uber Technologies Inc. (U.S.)
- ANI Technologies Pvt. Ltd. (India)
- Lyft, Inc. (U.S.)
- Careem (U.A.E)
- Bolt Technology OÜ (Estonia)
- Gett (U.K.)
- HERTZ SYSTEM, INC. (U.S.)
- Aptiv (Ireland), Enterprise Holdings Inc. (U.S.)
- MOBIKO (Germany)
- Europcar (France)
- Curb Mobility (U.S.)
- BlaBlaCar (France)
- Wingz (U.S.)
Recent Developments:
- In 2022, The Toro Company, a provider of innovative solutions for outdoor environment has acquired The Intimidator Group Inc, US-based side-by-side vehicle manufacturer. With this acquisition, the Toro Company goals at strengthening its position in zero-turn mower market and emerging as a major market player in the global market.
- In 2020, Polaris Inc. launched RideReady, an industry-first on-demand digital service platform. This new RideReady digital strategy aims at leveraging digital technology and solutions for offering industry-leading tools, which break down the barriers of building affinity, ownership and loyalty with existing customers. RideReady connects the shared mobility dealers and owners with Indian Motorcycle for easily scheduling service appointments online.
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Important Features that are under Offering Market Highlights of the Reports:
- Detailed overview of this market
- Changes in industry market dynamics
- Detailed market segmentation by type, application, etc.
- The historical, current, and projected market size in terms of quantity and value
- Recent industry trends and developments
- Competition situation of this Market
- Key companies and product strategies
- Potential niche segment/region showing promising growth.
Finally, this Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers
Key Growth Drivers:
- The increasing emergence of new modes and services
New services and modes have emerged such as pooled ride-sharing, shared electric scooters, peer-to-peer car sharing and many more. This emergence has been attributed to their automated processes, personalized travel on demand, potential integration, and environment-friendly nature. The growth and expansion in penetration of connected cars and smartphones is a key factor expected to drive the growth of the shared mobility market.
- The growing popularity of ridesharing among consumers
Various companies have started making mobile apps that help toward non-ownership rides. In this module, the rider can book their ride easily according to their requirements such as time, route and type of vehicle for the particular time frame. Ridesharing is increasing at the significant rate in the forecast period, and this can be owing to the wide adoption of the elegant and cost-effective mode of transport rides among customers. Therefore, growing popularity of ridesharing among consumers is likely to impel the market growth.
Restraints:
- Multiple issues associated with shared mobility services market
Lack of preference in travelling with strange people while sharing transportation and increasing concerns about theft of private information are some of the major factors which are expected to hinder the market growth. Furthermore, the responsibility to take a longer route because of sharing transportation is likely to challenge the market during the forecast period.
This shared mobility market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the shared mobility market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Key Market Segments Covered in Shared Mobility Industry Research
Service Model
- Ride Hailing
- Bike Sharing
- Car Sharing
Vehicle Type
- Cars
- Two-Wheelers
Business Model
- Peer-To-Peer (P2P)
- Business-To-Business (B2B)
- Business-To-Consumer (B2C)
Sector Type
- Unorganized
- Organized
Autonomy Level
- Manual
- Autonomous
Power Source
- Fuel Powered
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
Shared Mobility Market Regional Analysis/Insights:
The countries covered in the shared mobility market report are report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the shared mobility market in terms of revenue growth and market share owing high costs of vehicle ownership and increasing on-road vehicle traffic in countries such as India and China in this region.
Europe is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly because of high demand for shared transportation solutions owing to the increasing number of corporate travelers in this region.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Shared Mobility Market: Regulations
- Market Overview
- Global Shared Mobility Market, By Service Model
- Global Shared Mobility Market, By Vehicle Type
- Global Shared Mobility Market, By Business Model
- Global Shared Mobility Market, By Sector Type
- Global Shared Mobility Market, By Autonomy Level
- Global Shared Mobility Market, By Power Source
- Global Shared Mobility Market, By Region
- Global Shared Mobility Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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