Westford, USA, Aug. 11, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Shared Mobility market, increased adoption of ride-hailing services, car-sharing programs, bike-sharing and scooter-sharing systems, electric and hybrid vehicles, autonomous vehicles, mobility-as-a-service (MaaS) platforms, integration of multiple transportation modes, data-driven insights and analytics, user-friendly mobile applications, personalized and on-demand transportation, partnerships and collaborations, focus on sustainability and eco-friendly options, enhanced user experience, innovative pricing models, expansion into suburban and rural areas are the trends that aid in the market's growth.
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Shared mobility is a transportation system where travelers share a vehicle either simultaneously as a group (e.g., ride-sharing) or over time as personal rental (e.g., bike sharing or car sharing). This allows users to access transportation services on an as-needed basis, reducing the need for personal car ownership and improving transportation efficiency.
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Prominent Players in Shared Mobility Market
- Uber
- Lyft
- Zipcar
- Car2Go
- Lime
- Bird
- Ofo
- Mobike
- Spin
- Jump
- Via
- Chariot
- Getaround
- Turo
- ReachNow
- Whim
- Avail
- Jiffy
Ride-Hailing Service Type Demand to Grow Substantially in the Forecast Period
Ride-hailing service type dominated the global market owing to its high convenience and versatility. It operates on an on-demand model, allowing users to request rides whenever they need them. This flexibility caters to various travel needs, whether it's commuting to work, running errands, or attending social events. Users can access rides 24/7, making ride-hailing services available at any time, providing a level of convenience that traditional transportation options may not offer.
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Tourist and Travellers is the Leading User Segment
In terms of application, the passenger car segment is the leading segment due to the demand for convenience and accessibility. In addition, shared mobility services enable tourists to efficiently explore a new destination. They can easily access transportation when and where they need it, allowing them to visit multiple attractions or move between different areas of the city without the constraints of fixed schedules or routes. This flexibility and on-demand availability empower tourists to make the most of their limited time and experience a wide range of attractions and activities.
Asia-Pacific is the leading Market Due to the Emerging Economies in the Region
The Asia-Pacific region is expected to dominate the shared mobility market in the coming years. The region is home to some of the world's fastest growing economies, such as China, India, and Indonesia. These economies are characterized by high economic growth, rising disposable incomes, and increasing urbanization. This is leading to a growing demand for shared mobility services, which is driving the demand for the shared mobility market. Several government initiatives have aided market growth, such as In China, the government has provided subsidies to shared mobility companies to help them reduce their operating costs. In India, the government has waived off registration fees for shared mobility vehicles. In Singapore, the government has introduced a congestion pricing scheme to discourage private car ownership and encourage the use of shared mobility services
A recent report thoroughly analyzes the major players operating within the Shared Mobility market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Shared Mobility.
Key Developments in Shared Mobility Market
- In January 2023, Uber acquired Jump, a dockless electric scooter company. This acquisition gave Uber a major foothold in the electric scooter market and expanded its shared mobility offerings.
- In March 2023, Lyft acquired Motivate, a bike-sharing company that operates in major cities across the United States. This acquisition gave Lyft a strong presence in the bike-sharing market and expanded its shared mobility offerings.
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Key Questions Answered in Shared Mobility Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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