Market Size – USD 75.97 Billion in 2019, Market Growth – CAGR of 26.3%, Market trends –Advancement in the telecom industry.
— Emergen Research
VANCOUVER, BC, CANADA, June 1, 2022 /EINPresswire.com/ — The Global Mobility as a Service market is forecasted to be worth USD 523.61 Billion by 2027, according to a current analysis by Emergen Research. The market is experiencing increased demand due to the growing challenges of traffic congestions, air pollution, and the emission of greenhouse gases. The shift will finally enable efficient asset utilization by transitioning from an ownership model of private assets to user-ownership of shared assets.
Rapid urbanization and smart city initiatives, coupled with growth in the transportation industry, is driving the market growth.
Shared transportation has the potential to displace private vehicle ownership, which is usually inequitable, costly, and inefficient as compared to traditional mobility. This unlocks a mobility future that is more reliable, affordable, clean, and efficient for future generations. Certain factors such as integration of telecom and transportation industries in the MaaS market, rise in mobility as a service through blockchain, and growing trend of cashless payments coupled with high network connectivity is anticipated to fuel the market.
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It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Key Highlights From The Report
In April 2019, Reach Now launched its MaaS platform in Asia – Japan. The ‘Iziko’ app not only offers access to buses, trains, rental cars & bikes, and on-demand ridesharing but even tickets for tourist attractions.
The ride-hailing segment is forecast to witness a significant growth rate of 25.7% through 2027 on account of the global acceptance of ride-hailing at all levels, ranging from enterprises to personal requirements. Additionally, cashless transactions and assured pickups services offered are further boosting segmental growth.
The android segment is estimated to contribute significantly to the Mobility as a Service market share on account of the massive adoption of android smartphones owing to their variety of functions and lower prices as compared to the other application types.
Business to business, or B2B, is a form of transaction between businesses involving a MaaS provider and corporate clients availing the MaaS service. B2B business takes place between enterprises, rather than between an enterprise and individual consumers.
The European region has attempted to mitigate the effects of these factors and has formulated an action plan for low-emission mobility related to zero or low-emission vehicles, optimizing the transport system and improving its efficiency. The emergence of new mobility concepts is expected to create significant opportunities to bring about low-carbon mobility.
Key participants include UbiGo AB, Beeline Singapore, Shuttl, Uber technologies, Citymapper, Ola, Moovel Group GmBH, Lyft, Inc., Smile Mobility, and Communauto, among others.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.
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Overview of the Mobility as a Service Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
Emergen Research has segmented into global Mobility as a Service Market on the basis of service type, application, business model, vehicle type, and region:
Service Type Outlook (Revenue, USD Billion; 2017-2027)
Self-driving car service
Application Outlook (Revenue, USD Billion; 2017-2027)
Business Model Outlook (Revenue, USD Billion; 2017-2027)
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
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North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Finally, all aspects of the Mobility as a Service market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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Mobility as a Service Market Size Worth USD 523.61 Billion by 2027