Mobility as a Service Market Research Report- Forecast till 2024
According to Market Research Future (MRFR), the global mobility as a service market is projected to reach USD 484.20 Billion with 38.9% CAGR from 2017 to 2024 (forecast period). The study outlines the strengths, opportunities, challenges, and potential business risks and provides a detailed description of the global market situation with the effects of COVID-19.
Mobility as a service or MaaS is the incorporation of different modes of transport services into a single platform provided in a mobile application that can be accessed on demand. The MaaS operator offers a range of options, such as public transport, ride-, car-or bike-sharing, taxi or car rental/lease, or any combination of these. The MaaS operator works with data service providers to collect real-time weather or traffic information. The operator works with local fleet operators, transport manufacturers, and government bodies like the department of transportation to ensure the effective functioning of MaaS. MaaS providers also work collaboratively with payment gateway providers to allow customers to subscribe to or use a pay-per-use model.
Increased demand for MaaS among consumers for better transport infrastructure, increased demand for a one-stop solution to meet transport service needs, an increase in the number of original equipment manufacturers (OEMs) is set to propel global mobility as a service industry. In addition, the growing proliferation of mobile devices and the rising penetration of internet data services are expected to fuel the market. However, the need for capital investment and the lack of technical expertise are likely to constrain the market. The combination of different transport provider chains in a comprehensive transport service ecosystem creates business opportunities. Some of the standard payment methods used by users for mobility as a service include a monthly subscription model and pay-as-you-go model. The advent of electric vehicles for convenient and clean transport at a lower cost also plays a crucial part in the growth of mobility as a service (MaaS) market.
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The global mobility as a service market has been segmented based on service type, business model, type, and application platform.
Based on the service type, the global mobility as a service market has been segmented into cars, buses, and bikes.
Based on the type, the global mobility as a service market has been segmented into public and private.
Based on the business model, the global mobility as a service market has been categorized into business to business (B2B), business to customer (B2C), and peer-to-peer (P2P).
Based on the application platform, the global mobility as a service market has been segmented into Android, iOS, and others.
Region-wise, the global mobility as a service market has been segmented into North America, Europe, Asia Pacific, and the rest of the World.
Europe had the highest market share of 38.9% in 2017, and the market is projected to record a CAGR of 37.1% during the forecast period. The market in this region has been further classified as the United Kingdom, Germany, France, and the rest of Europe. The UK led mobility as a service market in 2018, followed by Germany and France. North America was the second-largest market in 2018, estimated at USD 9.63 billion; the market is predicted to record a CAGR of 42.1%. The market in this region has been further classified as the USA, Canada, and Mexico. In 2018, US-dominated global mobility as a service market, followed by Canada and Mexico.
The prominent participants in the global mobility as a service market are Daimler AG (Germany), Bayerische Motoren Werke AG (BMW) (Germany), Deutsche Bahn (Germany), Xerox Corporation (US), Lyft, Inc (US), MaaS Global Oy (Switzerland), GrabTaxi Holdings Pte Ltd (Singapore), Beijing Xiaoju Technology Co., Ltd (China), Uber Technologies, Inc. (US), Communauto (Canada), Moovit Inc. (Israel), ANI Technologies Private Limited (India), Bridj Pty Ltd (Australia), JapanTaxi Co., Ltd (Japan), and Wiwigo (India).
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Global Mobility as a Service Market Research Report: By Type (Public and Private), Service Type (Car, Bus, Ride), Business Model (Business to Business, Business to Customer and Peer to Peer), Application Platform (Android, iOS and others) and Region (North America, Europe, China, Asia-Pacific and Middle East & Africa) – Forecast till 2024
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