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Mobility as a Services (Maas) Market to Reach USD 210.44 Billion by 2026; Replacement of Conventional Vehicles with Hybrid and EVs will Aid in Expansion of Market

March 27, 2020 | Automotive & Transportation

The global mobility as a service market size is prognosticated to reach USD 210.44 billion by 2026, on account of the lack of proper public transportation to suffice to the needs of the growing population. The primary concept behind MaaS is to provide mobility to travelers as per their convenience. More information on this market is presented in a recently published report by Fortune Business Insights™ titled, “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.” As per this report, the market was USD 182.12 billion in 2018 and is anticipated to rise at a CAGR of 1.9% within the forecast period set between 2018 and 2026.


Merger and Acquisitions for Ride-Hailing Application between China and Brazil to Set New Competitive Benchmarks


Didi Chuxing, the ride-hailing application based in China, agreed and acquired the control of 99 apps of Brazil in Jan 2018. The stake acquired, and both companies did not disclose the value of the contract but they declared their objective of creating a global rivalry with their counterpart Uber Technologies, Inc., and that Didi will hold a majority of share in the Brazilian firm. Didi revealed their desire to expand beyond the geographies of China, taking into consideration the increasing number of Chinese Customers who travel overseas. Such initiatives taken by companies will not only attract high mobility as a service market revenue but also help intensify the overall market competition in the years to follow.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/mobility-as-a-service-maas-market-102066


Trending E-wallet Transactions for Mobility Services Supported by Governments will Augment Growth


The rise in prices of fuel has propelled the current trend of carpooling and adoption of mobility as a service on a large scale. This is considered as a significant growth driver. This, coupled with the lack of public transport for sufficing to the travel needs of the growing population, will also add impetus to mobility as a service market growth. Furthermore, the increasing popularity of electric vehicles and hybrid vehicles will also aid in the expansion of the market. This, coupled with the current trend of using e-wallets in carpooling service or sharing cab service, supported by the government, are likely to create lucrative growth opportunities for the market in the long run.


Players Aiming at Geographical Expansion for Improving Portfolio


Major mobility as a service market, manufacturers are focusing on expanding their geographical reach to gain a competitive edge in the market. Besides this, companies are investing in the launch of electric and hybrid vehicles to reach the top position in the market. Additionally, players are adopting other strategies such as mergers and acquisitions, joint ventures, company collaborations, and others to attract high revenues to the market in the forecast duration.


Notable Industry Developments of Mobility as a Service Market are:



  • July 2019 – Ola, a ride-hailing company in India, received a license to start their services in London. This will not only count as an achievement in the company’s portfolio but also help to strengthen its grip in the world market.


List of Vendors in the Mobility as a Service Market are as follows:



  • Didi Chuxing

  • Lyft

  • Uber

  • Gett

  • Grab

  • Ola


 Further Report Findings



  • Asia Pacific held the most significant mobility as a service market share by earning USD 108.54 billion in 2018. This is owing to the increasing cost of vehicle ownership, coupled with the rise in prices of fuel.

  • North America will witness significant growth on account of traffic congestion, and the increasing popularity of e-bikes and e-vehicles.

  • Concerning segmentation by service type, the market is dominated by ride-hailing service on account of availability of multiple booking and paying options, easy pick and drop facility, and the overall comfort offered by these services. However, the car-sharing segment earned a 17% share and is likely to witness considerable growth in the following years. This is attributable to the increasing concerns about traffic congestions, air pollution, and the expensive maintenance of personal automobiles.


Global Mobility as a Service (MaaS) Market is classified into:








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD million)



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


Mobility as a Services (Maas) Market
  • PDF
  • 2018
  • 2015-2017
  • 120

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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