Mobility As A Service (MaaS) Market Competitive Landscape, Growth Factors, 2030
Increasing importance of digitalization and digital payment solution is one of the key factors driving market revenue growth
Market Size – USD 3.40 Billion in 2021, Market Growth – at a CAGR of 32.3% Market Trends – Power firms are becoming more engaged in car-sharing industry
The global Mobility as a Service (MaaS) market size is expected to reach USD 41.63 Billion in 2030 and register a revenue CAGR of 32.3% over the forecast period, according to latest report by Reports and Data. Increasing importance of digitalization and digital payment solution is expected to drive market revenue growth during the forecast period. Power firms are becoming more engaged in car-sharing industry, which is also expected to boost revenue growth of market. Governments across the world are taking initiatives to boost digital payments. For instance, Indian Government announced Digital-India project, which aims to promote cashless transactions and electronic payment systems throughout the country. Increasing adoption of e-wallets for transactions and growing number of e-commerce enterprises are driving mobility as a service market.
As regular vehicles emit a lot of pollution, governments in developing nations have implemented stringent emissions standards to reduce pollution. Several major firms, mostly mobility as service providers, are establishing positions in transportation industry, which is projected to increase their global market position. The majority of current automobiles would be replaced by electric and hybrid vehicles. Growing popularity of electric vehicles is projected to impact oil and gas profits significantly. Power companies would play a significant role by delivering and controlling essential electricity and assisting in developing long-range batteries and alternative fuels.
However, an increase in traffic congestion and emission may hinder market revenue growth. Most of the time, drivers are driving alone, resulting in increased vehicular emissions and traffic congestion that would not be present if ride-hailing was not available. In order to minimize traffic congestion, governments in various developing countries are encouraging citizens to use public transportation instead of mobility as a service.
Some major companies in global market report include UbiGo AB, OLA (ANI Technologies Pvt. Ltd.), Uber Technologies, Inc., Lyft, Inc., Moovel Group GmbH, DiDi Chuxing Technology , Citymapper, Shuttl (Super Highway Labs Pvt. Ltd.), Communauto Inc., and Moovit Inc.
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Some Key Highlights in the Report
- Ride hailing segment is expected to account for largest market share in global MaaS market over the forecast period due to increasing demand for ride hailing, owing to the advantages offered by ride-hailing as convenience of booking and passenger comfort
- Private segment is expected to grow at a faster CAGR during the forecast period as it is more convenient than public transportation since it avoids the need to wait for buses or trains
- MaaS market in Asia Pacific is expected to account largest revenue share in global market over the forecast period due to rising number of issues with present transportation infrastructure. In order to increase smart mobility, 5G implementation is gaining traction in developing countries, and governments have started to develop a MaaS-friendly ecology. This is expected to boost market revenue growth.
- Europe MaaS market is expected to register a significantly rapid revenue growth rate during the forecast period. Market growth is expected to be driven by planned expenditures to improve urban transportation and traffic infrastructure. Governments of France and the Netherlands have been investing in smart transportation infrastructure for years. At same time, governments of countries such as Finland and Germany were early adopters of MaaS, supporting market revenue growth significantly.
- In July 2019, Ola, an Indian ride-hailing company, was granted permission to operate in London. As a result, Ola's position in the worldwide market is expected to increase.
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For the purpose of this report, Reports and Data has segmented global mobility as a service market based on service type, vehicle type, type, business model, propulsion type, operation system, application, and region:
Service Type Outlook (Revenue, USD Billion; 2019-2030)
- Bi-Cycling Sharing
- Ride Hailing
- Car Sharing
- Bus Sharing
- Self-Driving Car Service
Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
- Four Wheelers
Type Outlook (Revenue, USD Billion; 2019-2030)
Business Model Outlook (Revenue, USD Billion; 2019-2030)
- Business-to-Business (B2B)
- Business-to-Customer (B2C)
- Peer-to-Peer (P2P) Rentals
Propulsion Type Outlook (Revenue, USD Billion; 2019-2030)
- ICE Vehicle
- Electric Vehicle
- Hybrid Electric Vehicle
- CNG/LPG Vehicle
Operation System Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Personalized Application Service
- Journey Management
- Journey Planning
- Flexible Payments and Transaction
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Advantages of Mobility As A Service (MaaS) Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Mobility As A Service (MaaS) industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Mobility As A Service (MaaS) 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.
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.