Mobility as a Service 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 expecting an excellent 36% CAGR during the forecast period (2017-2023) and reach a valuation of USD 253.16 billion in that time. The mobility as a service market has hit the right key at the perfect time to zoom ahead with a stellar speed. Its impact has been revolutionary in the transportation sector. Mobility as a Service can be integrated into a single mobile application with which the system can book, plan, buy tickets, and make payments for transportations in both public and private sector.

Furthermore, elevating penetration of smartphones with 3G and 4G supportability and high connectivity levels are anticipated to foster growth in the global mobility-as-a-service market. A surge in cashless transactions is also assessed to drive the adoption of mobility-as-a-service solutions by consumers. The global mobility-as-a-service market is expected to garner the revenue valuation of USD 253.6 billion by the end of 2023.

Segmentation:

The Mobility as a Service (MaaS) market share can be segmented by type, deployment, services, and application platform.

On the basis of type, the Mobility as a Service market is categorized into public type and private type.

By services, the Mobility as a Service market is sub-segmented as e-hailing services, bike sharing services, car sharing services, pop up bus services, self-driving car services, and others.

Based on deployment, the MaaS market can be segmented into on-premises and on-cloud.

On the basis of the application platform, the Mobility as a Service market comprises an Android platform, iOS 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.

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