Increasing urbanization and smart city initiatives is the significant factor for growth of the mobility as a service market globally. The global mobility as a service market is projected to reach USD 70.
New York, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mobility as a Service Market by Service, Solution, Application, Transportation, Vehicle Type, Operating System, Business Model and Region - Global Forecast to 2030" - https://www.reportlinker.com/p05806383/?utm_source=GNW
4 billion by 2030, from an estimated USD 4.7 billion in 2020, at a CAGR of 31.1%. With 12 cities in the region ranking among the top 25 in the world, Europe continues to be the best positioned geographical area for smart cities.
According to the European Commission, the smart cities project market is expected to exceed USD 2.00 trillion by 2025, with Europe speculated to have the highest investment globally. Copenhagen, Amsterdam, London, Vienna, Paris, Barcelona, Stockholm, Berlin, and Helsinki have already initiated the development of smart city platforms. Besides, smart city initiatives, other factors driving the MaaS market include improving 4G/5G infrastructure and penetration of smartphones and need for reduced CO2 emissions. However, integration of various MaaS stakeholders and limited internet connectivity in developing countries will restrict the mobility as a service market in the coming years.
Peer-to-Peer segment is expected to grow at the highest CAGR as people could use peer-to-peer services to rent out their vehicles when not in use in the future, which presents opportunities for growth
In a peer-to-peer (P2P) ride-sharing service, drivers use their own vehicles to provide a service to registered users via an app.Another model is peer-to-peer rentals where an owner rents out their vehicle.
Various modes of transport can be integrated into one digital mobile app that covers the process from start to finish, including booking, trip planning, and electronic payment.For instance, Uber, a peer-to-peer transportation provider, is branching out into short-term car rental and public transit ticket purchasing.
Similarly, Turo, a peer-to-peer rental company, enables private owners to rent out their cars to others. The company recently partnered with Porsche to launch a pilot program in San Francisco and Los Angeles that allows drivers to rent sports cars for around USD 100/day.
Journey planning segment is expected to hold a dominant share throughout the forecast period as the user is able to select the preferred mode of transportation
Journey planning involves providing journey options to users through a combination of real-time, predictive, and scheduled data based on a data algorithm.Journey planning includes providing a list of service offerings and combines the optimal use of transport modes based on user preferences and transport infrastructure.
Thus, the user is also granted some level of personalization in terms of preference for transport mode and accessibility.
Technology platform segment is expected to be the largest market from 2020 to 2030
The technology platform segment is likely to command the largest market share through the forecast period from 2020 to 2030 as it provides integrated services for ride hailing, car sharing, micromobility, bus sharing, and train services.In July 2020, Google announced a digitization fund of USD 10 billion to boost India’s digital economy.
Google plans to enable affordable internet access for every Indian as the country has the second-highest number of internet users in the world. Such initiatives are expected to create immense opportunities for high-growth niche markets like mobility as a service market.
The Asia Oceania market is expected to hold the largest market share by 2030 while Rest of the World is projected to register the fastest growth during the forecast period
Asia Oceania mobility as a service market is projected to hold the largest market share by 2030 because of increasing adoption of MaaS in China, Singapore, Indonesia, India, Vietnam, Malaysia, and Myanmar. The region has started creating a sustainable ecosystem for MaaS. 5G deployment is gaining pace in developing economies to boost smart mobility. For instance, in July 2020, Reliance Industries Limited announced that Reliance Jio has designed and developed a complete 5G solution for India. It said it will be ready for trials as soon as the 5G spectrum is available and can be ready for field deployment in 2021. Hence, the region is expected to hold a lion’s share in the global MaaS market.
Rest of the World mobility as a service market is estimated to be the fastest growing region during the forecast period.Some of the Latin American countries such as Brazil, Chile, Columbia, Peru, and Mexico are expected to drive the market in the next decade.
Presence of several mobility companies and their partnerships in the region has created huge opportunities for MaaS.Grin, an e-scooter company has partnered with Rappi to cater to Columbian market.
It also merged with Yellow, a bike-sharing start-up in Brazil, to cater to Latin America market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Tier I - 60%, Tier II - 30%, and Others - 10%
• By Designation: C Level - 30%, D Level - 30%, and Others - 40%
• By Region: Europe - 40%, Asia Oceania - 40%, North America - 10%, and Rest of the World – 10%
The mobility as a service market comprises prominent players such as Moovit Inc. (Israel), MaaS Global Oy (Finland), Citymapper (UK), Mobilleo (UK), SkedGo Pty Ltd (Australia).
The study segments the mobility as a service market and forecasts the market size based on service type (Ride Hailing, Car Sharing, Micromobility, Bus Sharing, Train Services), solution type (Technology Platforms, Payment Engines, Navigation Solutions, Telecom Connectivity Providers, Ticketing Solutions, Insurance Services), transportation type (public and private), vehicle type (Micromobility, Four-wheelers, Buses, Trains), application type (Personalized Application Services, Journey Management, Journey Planning, Flexible Payments & Transactions), operating system (Android, iOS, Others), business model (Business-to-Business, Business-to-Consumer, Peer-to-Peer), and region (North America, Europe, Asia Oceania, and Rest of the World).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall mobility as a service market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05806383/?utm_source=GNW
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