Fort Collins, Colorado, Oct. 08, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research published a report titled, "Mobility as a Service Market Size, Growth, Share, Statistics Report, By Service Type (Ride Hailing Car Sharing, Taxi Services, Others), By Deployment (Micromobility, 4 Wheelers, Buses, Trains), By Operating System (IOS, Android, Others), By Region, and Segment, Forecasts, 2023-2032."
According to DataHorizzon Research, the mobility as a service market size was valued at USD 327.4 Billion in 2022 and is expected to reach USD 822.8 Billion by 2032 at a CAGR of 9.8%.
Mobility as a Service (MaaS) combines various modes of transportation and transportation-related services into a single, all-inclusive, on-demand mobility service. It provides end-users the added benefit of accessing mobility via a single application and payment channel (instead of multiple ticketing and payment operations). A MaaS operator provides diverse transport options to meet customer's requests, including public transport, cycles, car/bike-sharing, taxis, car rentals or leases, or a combination of both. MaaS aims to provide the best value proposition to the users and the companies.
Consumer preferences are rapidly changing, influenced by convenience, sustainability, and cost-effectiveness. The younger generation is less interested in owning a car as the trend shifts away from car ownership and towards shared mobility services. Instead, they choose a car-pooling option that provides flexibility and cost savings. Consumers are increasingly prioritizing sustainability in their transportation choices, in addition to a preference for carpooling. This has increased the market's use of electric and hybrid vehicles and the growth of bike-sharing and scooter-sharing services.
The widespread use of mobile apps allows users to access carpool services easily. These apps provide users with real-time information on vehicle availability, pricing, and location, thereby helping a user to plan and navigate the city easily. This helps in driving the market growth. The advancements in battery technology have also increased the range of electric vehicles, making them more suitable for car-pooling services. Electric and hybrid vehicles are increasingly used in the MaaS service because they provide more environmentally friendly and sustainable transportation options.
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Segmentation Overview:
The global mobility as a service market has been segmented into service type, deployment, operating system, and region. The ride-hailing segment is expected to account for a significant share in the following years due to its popularity and wider acceptance. Based on the operating system, android OS enjoyed a strong position in the past few years. Smartphone compatibility and ease of use are some features accounting for its robust growth.
Asia Pacific is a leading region for mobility as a service market due to the rapid urbanization and rise in fuel prices. China is a prominent market for mobility-as-a-service due to the rise in popularity of MaaS due to the population increase and the growing need for better public infrastructure. Also, the emergence of digital startups with innovative solutions for public transport has increased the footprint of MaaS apps.
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Mobility as a Service Market Report Highlights:
- The global mobility as a service market growth is anticipated at a CAGR of 9.8% by 2032.
- The growth of mobility as a service market is significantly induced by the growing need to reduce traffic congestion and offer commuters a better alternative to daily commutes. Besides, the growing popularity of MaaS apps has supplemented the market growth in the past few years.
- The ride-hailing segment accounted for a significant share in 2022 and is projected to remain dominant in the following years.
- Based on the operating system, android accounted for a prominent growth in 2022.
- Some prominent players in the mobility as a service market report include Lyft, Drive Now (BMW), Moovit, Uber, Communauto, Zipcar, Car2Go, SkedGo, Flinkster, and EVCARD.
Industry Trends and Insights:
- Umob, a Europe-based Mobility-as-a-service provider, has raised €6 million from a pool of investors. It plans to use €2 million to launch the platform, create innovative mobility products for commuters, and scale internationally. Besides, it also emphasizes the idea of shared mobility under an integrated platform.
- Lithuanian tech firm, Trafi has launched MaaS app named Floya that offers users an integrated solution under a single platform for different modes of travel and transport within Brussels, Belgium. The platform supports a combination of vehicles, including bus, rail, car, metro, bike, and scooters.
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Mobility as a Service Market Segmentation:
- By Service Type: Ride hailing, car sharing, taxi services
- By Deployment: Micromobility, 4 wheelers
- By Operating System: IOS, Android, others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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