Mobility as a Service Market By Service Type (E-Hailing, Bike-Sharing, Car Sharing, and Micro Mobility), By Transportation Type (Public and Private), By Business Model (B2B, B2C, and Peer-to-Peer (P2P)), By Vehicle Type (Passenger Car and Commercial Vehicle), By Route (Fixed and On-Demand) - Analysis & Forecast 2020-2030.
Report ID : 403 | Published Date : Oct 2020 | Pages : 170 | Region : Global | Report Code : ICT-42
Mobility as a Service Market Overview and Introduction
Mobility as a Service (MaaS), also known as Transportation as a Service (TaaS), enables users to book, pay, or plan multiple types of mobility services using a single joint digital channel. Moreover, it is a platform to access various mobility services including ride-sharing, bike sharing, car sharing, scooter-taxi sharing, bus sharing, car renting, and others. MaaS has adopted various trending payment methods such as monthly subscription, pay-as-you-go, and others. Furthermore, the pay-as-you-go payment method is one of the popular payment methods owing to its advantages such as cheap prices based on distance.
New collaborations between OEMs and technology providers and increasing investments by the OEMs are expected to boost the market growth during the forecast period. For instance, in 2019, two big automotive giants (BMW and Daimler) invested around US$ 1.17 billion in a mobility joint venture. Moreover, the rising trend of micro-mobility as a service across Europe and North America is expected to create new opportunities during the forecast timespan.
Parking problems and traffic congestion are the major factors responsible for the growth of mobility as a service market. Moreover, rapid digitalization across the globe and continuous improvements in networking technologies, such as 4G and 5G, is boosting the penetration of smartphones & internet users. This is further supplementing the market growth.
However, delays in investments owing to COVID-19, reduced tourism, and the availability of other modes of transportation are the major factors limiting the growth of the market. Concerns associated with security & privacy and connectivity issues in various geographical regions will also hamper the market growth to a certain extent during the forecast period.
The global mobility as a service market can be segmented into service type, type, vehicle type, business model, route, and region.
Mobility as a Service Market By Service Type
Based on the service type, the market can be segmented into E-hailing, bike sharing, car sharing, and micro-mobility. The car sharing segment accounted for the largest market share in 2019 and is expected to follow similar trends for the coming years. The growth of this segment can be attributed to the high availability of car sharing services in various geographical regions due to the presence of key players, such as Uber and Lyft, across the world. Also, Car2Go (Daimler’s subsidiary) is considered as the biggest car sharing service provider in the market. Such established companies are supplementing the growth of this segment.
Mobility as a Service Market By Vehicle Type
Based on the vehicle type, the market can be segmented into passenger cars and commercial vehicles. The passenger car segment accounted for the largest market share in 2019. The growth of this segment can be attributed to the increasing demand from working populations. Moreover, the passenger car segment offers a wide range of applications including car sharing services, rental services, ride hailing, and others. This is further contributing to the growth of this segment.
Mobility as a Service Market by Transportation Type
Based on the transportation type, the market can be segmented into public and private. The public segment is expected to grow at a healthy CAGR during the forecast period. The growth of this segment can be attributed to the development of new platforms associated with public transportation and increasing investments by key market players. For instance, in February 2016, Üstra launched a new mobility shop that offers mobility as a service for public transportation including booking and invoicing.
Mobility as a Service Market by Region
Based on the region, the global ethanol market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to growing urbanization and the increasing demand for efficient transportation solutions. Moreover, the rising number of smartphone users and growing investments in the development of 5G infrastructure are also expected to create new opportunities in this region.
Mobility as a Service Market Prominent Players
Some of the prominent players in the mobility as a service market include Uber Technologies Inc., Lyft, Inc., Zipcar, Inc, car2go NA, LLC, Drive Now, MaaS Global Oy, Moovit Inc., Mobilleo, SkedGo Pty Ltd, and UbiGo.