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Mobility as a Service Market Size, Share, and Industry Analysis, By Service Type (Ride-Hailing, Car Sharing, Taxi Services, Others). By Application Type (iOS, Android and Others), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI102066

 

KEY MARKET INSIGHTS

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The global mobility as a service (MaaS) market was USD 182.12 billion in 2018 is projected to reach USD 210.44 billion by 2026, exhibiting a CAGR of 1.9% during the forecast period from 2019 – 2026.

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The transportation sector holds a significant share in contributing to air pollution worldwide. Rising air pollution globally owing to heavy vehicular traffic is, in turn, creating a need for an alternative form of transportation. The rising popularity and adoption of shared Mobility are expected to drive the market over the forecast period. Car sharing is considered to be a cost-effective alternative to car ownership as it reduces the maintenance and fuel cost of consumers; it also helps to reduce the air pollution level. Additionally, increasing the disposable income of consumers and rising investments in transportation infrastructure are fueling mobility as a service market. In developing countries, various initiatives taken by the government to promote the use of mobility as a service is proving beneficial for the transportation industry. For example, the European Union Commission and government agencies such as CERRE are providing subsidies to the owner of the vehicle to encourage the adoption of ride-hailing services. Increasing the use of e-bike sharing by daily office commuters is also another factor driving the market as this saves a lot of time and helps to reduce the emissions caused by conventional taxis.


MARKET TRENDS


Growing Inclination of Power Companies in Car Sharing Market has led to Witnessed Significant Market Trend


As conventional vehicles cause a high amount of emission, governments in developing countries have imposed stringent emission norms to curb rising pollution. Many big players, mainly mobility as a service companies, are making their presence in the transportation industry, which in turn is expected to strengthen their market position globally. Most of the conventional vehicles are to be replaced with Electric vehicles and Hybrid vehicles. Rising inclination towards electric vehicles is likely making a major impact on oil and gas revenue. Power companies can play a significant role by supplying and managing the required electricity and helping the development of long-range batteries and alternative fuels.


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One Transportation ticket is One of the Rising Trend in Mobility as a Service Market


Frequent travelers for inter-state, inter-city have to face a tough time concerning planning and boarding various modes of transportation and reach their destination. Governments of developing countries are making plans to implement the French Mobility Act, i.e., one ticket or smartcard for mobility as a service app. One transportation ticket program offers a wide range of services such as single-pass, which would replace the current subscription of consumers from every service (free float bike subscription, bus sharing, and taxis). Ruling bodies are focusing on developing strategies with stakeholders and mobility operators to maintain the privacy and security of the data exchange. One transportation service app is expected to save the time of consumers and ease out consumer's efforts as it brings all the apps under one roof.


MARKET DRIVERS


Growing focus on Digitalization and Digital Payment Solution is expected to drive the Growth of this Market


Governments across the globe are taking initiatives to promote digital payments. For example, the Indian government launched the Digital-India initiative that focuses on fostering cashless transactions and digital payment methods across the country. The rising number of e-commerce companies and the growing use of e-wallets for making transactions is driving the market. The development of highly secured and safe payment gateways is also expected to drive the market during the forecast period. Various mobility as a service company such as Uber, Lyft, Ola, etc. are offering cashback and shopping coupons on payments made by e-wallets.


Growing Inclination towards Micro-mobility is expected to drive the Market over the Forecast Period


Micro-mobility is expected to be the future of shared transportation, especially in developing countries. Micro-mobility is the use of light vehicles such as bikes and scooters on a shorter distance. For example, in the United States, motorbike and bicycle account for a significant share in the short distance traveling (under 5 miles). The growing inclination of consumers towards micro-mobility has drawn the attention of big players such as Daimler and BMW in micro-mobility transportation. This mobility as a service company has scooters on rent in 6 cities in Europe. Uber is also making plans to include rented bikes and scooters in their app by establishing partnerships with Getaround and Lime. Uber has also acquired JUMP that offers electric scooters and bikes on rent for the short-term. Increasing the use of micro-mobility is, in turn, saving time and money of consumers compared to the regular taxi rides.


MARKET RESTRAINT


Mobility as a Service (MaaS) increase traffic congestions and emissions; this is Anticipate to Restraint the Growth of the Market


Increasing traffic congestion and emissions, especially in developing countries, is one of the major restraints. Most of the time, the drivers are traveling without any passenger in the car; this adds to more vehicular emission and traffic congestion that wouldn't exist without ride-hailing. In several developing countries, governments are encouraging people to use public transport rather than Mobility as a service in order to reduce traffic congestion.


SEGMENTATION


By Service Type Analysis


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Ride-Hailing Segment Is Estimated To Dominate Market over the Forecast Period As It Offers Various Options for Making the Payments


By service type, the market is segmented into ride-hailing, car-sharing, taxi services, and others. The ride-hailing segment is anticipated to dominate the market during the forecast period.  Various options for booking and comfort offered by ride-hailing services is one of the major reason fueling the demand for the ride-hailing segment. Ease of pick and drop facility offered by ride-hailing services compared to conventional taxis is also one of the reasons which are driving the market.


The car-sharing segment is expected to hold the second-largest position in the market during the forecast period. Shifting preferences of consumers from car ownership to the affordable and flexible solution is propelling the growth of the car-sharing segment. Furthermore, growing consumer awareness regarding emissions and traffic congestions is also one of the reasons which are helping to maintain the second-largest position of the car-sharing segment over the forecast period.


By Application Type Analysis


Android Segment is Likely to Experience Significant Growth During the Forecast Period


By application type, mobility as a service market is segmented into iOS, Android, and others. Among them, the android segment is expected to show dominance in the mobility as a service market during the forecast period. The low price of Android OS as compared to iOS is one of the major reasons attributed to the growth of this segment. The iOS segment is expected to show significant growth in the market during the forecast period. Even though its pricing is much higher compared to the android operating system, many consumers are inclined towards iOS owing to its high security and data protection privacy.


REGIONAL ANALYSIS


Asia Pacific Mobility as a Service (MaaS) Market, 2018 (USD Billion)

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By region, the market is segmented into Europe, North America, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to dominate the market during the forecast period. The rising cost of vehicle ownership and increasing fuel prices, especially in countries such as India and China, is one of the primary reasons which is expected to help Asia Pacific continue dominating the market in the forecast period. Lack of public transportation to accommodate the continually growing population is also one of the reasons fueling the growth of Mobility as a services in this region.


On the other side, North America is anticipated to hold the second-largest position in the market during the forecast period. Growing awareness among the consumers regarding rising emission, traffic congestion, and increasing fuel prices are the primary reasons helping this region maintain its position in the market. Increasing the use of e-bike rental and bike-sharing is proving to be cost-effective for consumers who take a conventional taxi to the office.


KEY INDUSTRY PLAYERS


Uber is expected to hold a leading position in this market


Uber continues to lead global mobility as a service market. The latest innovations, such as Uber Freight, Jump, and Transit, have strengthened Uber’s global market position. Ease of payment options, steps are taken to secure consumers data, and technological advancements are prominent factors responsible for the dominance of the company


However, Didi Chuxing, Lyft, Grab have also retained their positions in the competitive landscape with Didi Chuxing, mostly dominating the Asian market compared to its competitors. This is projected to positively influence the global market as these companies are anticipated to drive market innovation during the forecast period.


LIST OF KEY COMPANIES PROFILED:



  • Uber

  • Lyft, Inc

  • Didi Chuxing

  • Grab

  • Ola

  • Gett


KEY INDUSTRY DEVELOPMENTS:



  • January 2018: Didi Chuxing buys Brazil's 99 Ride-hailing apps. This decision of Didi is anticipated to strengthen its position in the global market. Besides this, the company has made considerable investments in smart transportation and AI capabilities to enhance its services. This investment will, in turn, help Didi to compete with its American rival Uber Technologies Inc.

  • July 2019: Ola, an Indian ride-hailing giant, received a license to start their services in London. This, in turn, is expected to help strengthen Ola's position in the global market.


FUTURE OUTLOOK


mobility as a service market is gaining importance owing to increasing fuel prices, emissions, and traffic congestions globally. Growing initiatives from the governments to implement one transportation ticket to secure consumer's data are expected to fuel the growth of the MaaS market. Various developments by the key players such as e-bikes and electric vehicles to curb the rising emission is another reason powering the mobility as a service market growth.


REPORT COVERAGE


The report offers qualitative and quantitative insights on artificial intelligence solutions and services and the detailed analysis of market size & growth rate for all possible segments in the market.


An Infographic Representation of Mobility as a Service (MaaS) Market

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Along with this, the report provides an elaborative analysis of the market dynamics, emerging mobility as service market trends, and competitive landscape. Key insights offered in the report are the current mobility as a service trends of AI solutions by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter's five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key industry trends.


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Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Service Type



  • Ride-Hailing

  • Car Sharing

  • Taxi Services

  • Others



By Application



  • iOS

  • Android

  • Others



By Geography



  • North America (the U.S., Canada, Mexico)

  • Europe (U.K., Germany, France, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, South Korea and the Rest of Asia- Pacific)

  • The Rest of the World



Frequently Asked Questions

Fortune Business Insights says that global Mobility as a Service (MaaS) market was worth USD 182.12 billion in 2018.

The global Mobility as a Service (MaaS) market is projected to be worth USD 210.44 billion in 2026.

The global Mobility as a Service (MaaS) market will grow at a CAGR of 1.9% in the forecast period (2019-2026).

Asia Pacifics Mobility as a Service market was valued to be USD 107.11 billion in 2018.

In terms of service type, the ride-hailing segment will dominate global Mobility as a Service market during the forecast period.

Growing focus on digitalization and digital payments are vital to market drivers. However, the rising traffic congestions may hinder the market growth.

Uber, Didi Chuxing, Lyft are among the top companies in the global Mobility as a Service (MaaS) market.

Mobility as a Service (MaaS) Market Size, Share and Global Industry Trend Forecast till 2026
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