MaaS Market Set for Massive Progress in the Nearby Future

Market Highlights

A shift from privately owned modes of transportation towards mobility solutions that are consumed as a service is called as mobility-as-a-service. This is enabled through a combination of services from the private and public transportation sectors via a unified gateway. This gateway can manage the trip, and users pay for it with a single account. The users can pay for these services per trip or purchase a monthly plan for a limited distance.

The global mobility-as-a-service market is expected to accrue higher level of growth over the forecast period. Market Research Future (MRFR), in their latest report has suggested that the market is expected to ascend at a 36% CAGR between 2017-2023. Rapid development of the public infrastructure and various regulatory policies are foundational elements guiding the developments of the cities, making them less vehicle-centric. Hence, MaaS provides solutions for moving traffic and goods in more convenient, faster and cost-effective transportation. These features of the market are known to proliferate the growth of the mobility-as-a-service market over the assessment period.

Various factors are driving the growth of mobility as a service market. These factors, in accordance with the Market Research Future (MRFR) report, include the on-demand transportation services, integrated platform of mobility services, favorable government initiatives to develop MaaS, public-sector participation, and government policies. Additional factors driving the market growth include rapid development of public infrastructure, improved networks coupled with greater proliferation and higher speed, better cashless payment systems, mobility management players, and integration of private and public transportation providers along with telecom service providers.

Segmentation:

The Market Research Future report provides a wide segmental analysis of MaaS market based on deployment, type, application platforms, and services.

Based on type, mobility as a service market is segmented into private type and public type.

Based on services, mobility as a service market is segmented into self-driving car services, pop up bus services, car sharing services, bike sharing services, e-hailing services, and others.

Based on deployment, mobility as a service market is segmented into on-cloud and on-premises.

Based on application, mobility as a service market is segmented into the iOS platform, Android platform, and others.

Detailed Regional Analysis

The global mobility-as-a-service market is studied for the regional segments of North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW). Europe is likely to rule the global mobility-as-a-service market during the forecast period, as per the latest MRFR report. Europe is assessed to accrue significant growth in the mobility-as-a-service market. Finland, Germany, the UK, and France are expected to spearhead the country-specific market for mobility-as-a-service over the assessment period. Growth in the rising standard of living of people residing in the area, coupled with quick developments noted in the automotive and transportation sectors are expected to promote the upscaling of the mobility-as-a-service market in Europe.

North America is anticipated to register substantial market growth over the conjecture period owing to a number of factors. A robust network infrastructure which can aid in smooth deployment of advanced mobility-as-a-service solutions has led to the upsurging implementation of such technologies. Moreover, consumer preference towards such solutions, over public transport has provided an extra push to market growth. The United States is likely to spearhead the mobility-as-a-service market in North America, accounting for a significant market share. Canada is expected to follow the United States and fetch the second-largest share of the regional market by 2023. However, Asia Pacific is expected to upscale at the fastest rate over the forecast period.

Key Players

Some of the well-known players in the mobility-as-a-service market include BMW Group (Germany), Apple Inc. (U.S.), Alliance Corporation (Canada), Xerox Corporation (U.S.), Uber Technologies Inc. (U.S.), Lyft, Inc.(U.S.), MaaS Global (Finland), Daimler AG (Germany), Deutsche Bahn (Germany), and Communauto (Canada).

Industry Update

August 2019: WHILL and Scootaround recently announced their collaboration to develop and offer a mobility-as-a-service model that can be implemented everywhere. The two companies have an objective to improve the current travel landscape for mobility device users by increasing freedom and independence.