Mobility as a Service Market Size & Share - Future Growth Expectations
Mobility as a Service market is projected to grow from USD 5.7 billion in 2023 to USD 40.1 billion by 2030, at a CAGR of 32.2% over the forecast period. The prices of fossil fuels have been increasing continuously with the volatile oil prices, which in turn increases transportation costs. With increasing inflation, owning a car has become a challenge, so people are switching to alternate modes of transportation, such as ride-hailing or car-sharing services. These services are flexible and convenient, and cost-effective for consumers. Finding a proper parking space and paying for the same has become a big hassle for commuters. Such factors are driving the consumers towards MaaS.
The mobility as a service market is poised for substantial growth in the coming years, driven by several key factors:
- Technological Advancements
- Urbanization and Population Growth
- Shift Towards Shared Mobility
- Environmental Consciousness
- Regulatory Support
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Technological Advancements:
- Ongoing innovations in digital platforms, mobile applications, and connectivity solutions are revolutionizing the way people access transportation services. Advanced technologies such as artificial intelligence, machine learning, and IoT enable MaaS providers to offer seamless, integrated mobility solutions tailored to individual needs.
Urbanization and Population Growth:
- Rapid urbanization, coupled with the increasing global population, is putting immense pressure on existing transportation infrastructure. MaaS offers a sustainable solution to urban mobility challenges by providing efficient, convenient, and cost-effective transportation options, thereby addressing the growing demand for mobility in densely populated urban areas.
Shift Towards Shared Mobility:
- The rising popularity of shared mobility services, including ride-hailing, bike-sharing, and car-sharing, is reshaping the transportation landscape. MaaS platforms capitalize on this trend by integrating various shared mobility options into a single interface, offering users greater flexibility and choice in how they travel.
Environmental Awareness and Sustainability:
- Growing concerns about climate change and air pollution are driving the demand for greener transportation alternatives. MaaS promotes sustainable mobility by encouraging the use of electric vehicles, promoting active transportation modes such as walking and cycling, and optimizing route planning to reduce carbon emissions and minimize environmental impact.
Regulatory Support and Policy Initiatives:
- Governments and regulatory authorities worldwide are increasingly recognizing the potential of MaaS to address urban mobility challenges and achieve policy objectives related to congestion reduction, air quality improvement, and sustainable development. Supportive regulations, policy frameworks, and financial incentives are driving the adoption of MaaS initiatives and fostering collaboration between public and private stakeholders.
Based on these factors, the mobility as a service market is projected to experience robust growth in the coming years, with significant opportunities for market players to capitalize on emerging trends and technological advancements.
Mobility as a Service Market Share - Global Industry Landscape
The mobility as a service market is characterized by the presence of several key players competing for market share. Some of the leading companies in the biomarkers industry include:
- Moovit (Israel),
- MaaS Global (Finland),
- Citymapper (UK),
- FOD Mobility UK Ltd. (UK),
- SkedGo (Australia).
These companies, along with several others, collectively shape the global mobility as a service industry landscape. Market dynamics are influenced by factors such as technological innovation, regulatory compliance, strategic partnerships, and market consolidation. As the demand for mobility as a service continues to rise, companies are expected to intensify their efforts to capture market share and drive innovation in mobility as a service discovery, development, and commercialization.
Moovit (Israel):
- Market Share: Moovit holds a significant share in the global MaaS market, particularly in providing real-time public transit data and trip planning services.
- Key Offerings: Moovit offers a comprehensive MaaS platform that integrates public transit information, ride-sharing options, and micromobility services. Their platform provides users with accurate, real-time data for planning multimodal journeys, improving urban mobility and accessibility.
MaaS Global (Finland):
- Market Share: MaaS Global is a leading player in the MaaS market, known for its Whim app, which offers integrated mobility services in various cities worldwide.
- Key Offerings: MaaS Global's Whim app allows users to plan, book, and pay for different modes of transportation, including public transit, taxis, rental cars, and bike-sharing, all within a single application. Their platform prioritizes user convenience and offers subscription-based models for seamless mobility access.
Citymapper (UK):
- Market Share: Citymapper is a prominent player in the MaaS market, known for its innovative transit navigation app that provides real-time public transit information and route planning services.
- Key Offerings: Citymapper offers a user-friendly app that aggregates public transit data, ride-sharing options, and cycling routes to help users navigate cities efficiently. Their platform features interactive maps, live updates, and multimodal trip planning capabilities, enhancing urban mobility and commuter experience.
FOD Mobility UK Ltd. (UK):
- Market Share: FOD Mobility UK Ltd. is a notable contributor to the MaaS market, specializing in providing mobility solutions for disabled and elderly individuals.
- Key Offerings: FOD Mobility offers accessible transportation services, including wheelchair-accessible vehicles, mobility scooters, and assistance services, to ensure inclusive mobility for all individuals. Their platform focuses on addressing the specific needs of disabled and elderly passengers, facilitating independent and comfortable travel experiences.
SkedGo (Australia):
- Market Share: SkedGo is a key player in the MaaS market, recognized for its advanced trip planning and mobility-as-a-service solutions.
- Key Offerings: SkedGo provides customizable MaaS platforms for cities, transit agencies, and corporate clients, offering features such as trip planning, booking, payment integration, and real-time updates. Their platform emphasizes flexibility, scalability, and interoperability, enabling seamless integration with existing transportation systems and services.
Related Reports:
Mobility as a Service Market by Service (Ride-Hailing, Car Sharing, micro-mobility, Bus, Train), Solution, Transportation, Vehicle, OS, Business Model, Payment (Subscription, PAYG), Commute (Daily, Last Mile, Occasional) Region - Global Forecast to 2030
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