Global Mobility On Demand Market anticipated being worth US $ 186 BN due to increasing penetration of smartphones in market
Mobility on demand is similar to the public cloud, but it is dedicated to the requirements of a single organization. Market Research Future (MRFR) has published a research report on the global mobility on demand market that anticipates advancement for this market at 18% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 186 bn by the end of forecast period.
Analyzing the market structure, this report forecasts the future growth potential of the market. It monitors the plans of the key players in the market and supports the competitive developments like new product developments, joint ventures, mergers & acquisitions, research and developments (R&D) in the market.
The most critical factors for the global mobility on demand market growth include technological advancements, the emerging internet of things (IoT), and increasing penetration of smartphones. Other factors enabling the market growth include bring your own device (BYOD), big data and new analytics, growing popularity of car sharing services, government initiatives, growing adoption of electric & plug-in hybrid vehicles in shared transportation services, growing reduction in travel cost, increasing fuel prices, smart cities, real-time availability of services, and increasing penetration of smartphones. However, factors that are likely to hinder the market growth include lack of awareness regarding shared transport services, inadequate transportation infrastructure, and low penetration of advanced technology in the underdeveloped regions.
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The global mobility on demand market segmentation segments the market on the basis of services, vehicle type, data service, vehicle connectivity, and lastly, region. The service-based segmentation of this market covers car rental, car sharing, e-hailing, and station based mobility. E-hailing service holds the largest market share because it can provide users with a seamless platform for booking car, limousine, taxi, or any other mode of transportation, with simple booking via smartphone. It is helpful to both driver and passenger.
By vehicle type, the market has been segmented into four-wheelers and micro mobility vehicles. During the forecast period, the electric vehicle is expected to generate maximum sales due to technological advancements in the automobile sector and the growing popularity of driverless cars. Based on data service, the market has been segmented into information, navigation, payment, and others. Regarding vehicle connectivity, the market has been segmented into the vehicle to infrastructure (V2I), vehicle to network (V2N), vehicle to pedestrian (V2P), and vehicle to vehicle (V2V).
The regional segmentation of the global mobility on demand market can segment the market into regional markets known as Asia Pacific, Europe, North America, and rest of the world (RoW). During the forecast period, North America can emerge as the fastest growing market due to increased adoption of e-hailing service by citizens, growing adoption of BYOD technology, presence of major market players, and growing urban population. The vital country-specific markets in these regions are the USA and Canada.
The key players in the global Mobility on Demand Market include Denso Corporation (Japan), Delphi Automotive PLC (UK), Didi Chuxing (China), Gett Inc. (USA), Intel Corporation (USA), International Business Machines Corp. (USA), Lyft (USA), Robert Bosch Gmbh (Germany), Tomtom NV (Netherlands), and Uber Technologies Inc. (USA).
The Asia Pacific region holds the largest market share in the global market due to increasing information technology (IT) infrastructure and growing population in urban areas. The countries that can be perfect markets for mobility on demand in this region are China, India, and Japan.
In Europe, the market is growing due to technological advancement, strong IT infrastructure, and the presence of some key market players. The important country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
Latest Industry News
Global technology company Aptiv PLC is expanding its industry-leading autonomous driving capabilities to the Chinese market, now that it has established the company’s China Autonomous Mobility Center. 17 APR 2019
Via, the world’s leading provider and developer of on-demand shared mobility solutions, has forged a strategic partnership with ITOCHU Corporation and Mori Building Company. The new partnership allows Via to rapidly expand its dynamic, on-demand transportation solutions and solve transit issues across Japan. 15 APR 2019
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LIST OF TABLES
TABLE 1 MOBILITY ON DEMAND MARKET, BY SERVICE,
TABLE 2 MOBILITY ON DEMAND MARKET, BY VEHICLE TYPE
TABLE 3 MOBILITY ON DEMAND MARKET, BY DATA SERVICE
TABLE 4 MOBILITY ON DEMAND MARKET, BY INTERNET CONNECTIVITY
TABLE 5 MOBILITY ON DEMAND MARKET, BY VEHICLE CONNECTIVITY
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 MOBILITY ON DEMAND MARKET: BY SERVICE (%)
FIGURE 3 MOBILITY ON DEMAND MARKET: BY VEHICLE TYPE (%)
FIGURE 4 MOBILITY ON DEMAND MARKET: BY DATA SERVICE (%)
FIGURE 5 MOBILITY ON DEMAND MARKET: BY INTERNET CONNECTIVITY (%)
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