Mobility as a Service Market
Market Research Future Insights
Mobility as a Service (MaaS) is a type of service , typically accessed through a mobile app, that allows users to plan, book, and pay for multiple modes of transportation, such as public transportation, ride-sharing, and bike-sharing, all through a joint digital channel. The concept aims to make transportation more convenient, affordable, and accessible by providing users with personalized trip planning, ticketing, and payments. MaaS typically involves combining transportation services from public and private transportation providers through a unified gateway that creates and manages the trip, which users can pay for with a single account. This service offers travelers mobility solutions based on their travel needs, which can lower the cost of transportation by providing more economical transportation options. Mobility as a Service may cause a decline in car ownership, which could have a significant impact on urban transportation patterns. MaaS is expected to work in different cities, without the user needing to become familiar with a new app or to sign up for new services. Together with other emerging vehicular technologies such as automated driving, connected cars, and electric vehicles, MaaS is contributing to a new type of future mobility, which is autonomous, connected, electric, and shared vehicles
The Mobility as a Service Market is expected to reach over USD 510.22 Billion by the year 2030 registering a CAGR of 27.74%..
Mobility as a Service operation is carried out by integrating several modes of transportation into a single platform with the help of a mobile application. The technology helps the customer in designing the travel including the various transportation methods and payment details. Mobility as a Service is customer-centric and leads the customer to make energy-efficient and cost-effective ways of commute. Several modes of transportation can be accessed on demand. Mobility as a Service operation is carried out with the assistance of data service providers that develop real-time information regarding weather and traffic.
The rising concerns over greenhouse gas emissions, urban road traffic issues, cost-effectiveness and convenience of MaaS (Mobility as a Service Market), and rising government initiatives are smoothing the embracement of MaaS (Mobility as a Service Market), which is likely to behold the market progress.
The countries that are mostly concentrating on reducing carbon dioxide emissions have encouraged their citizens to use Mobility as a Service technology, the increasing usage of smartphones and enhanced 5G technology infrastructure has boosted the Mobility as a Services Market Growth demand in recent years.
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Regional Analysis
The Global Mobility as a Service Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Asia Pacific is estimated to hold the largest mobility as a service market share during the forecast period and was evaluated at USD 74.45 billion in 2021. The surging cost of vehicle possession, speedy urbanization, and raising fuel prices, specifically in nations, similar to India and China, are some of the primary explanations that are prognosticated to assist Asia Pacific to continue dominating the market in the forecast period.
North America is evaluated to hold the second-largest position in the market during the forecast period. Growing awareness among consumers concerning rising releases and increasing traffic jams are the leading aspects supporting this region to maintain its position in the market.
Europe is significantly concentrating on developing solutions and services that are eco-friendly. They're thriving to reduce carbon emissions and present electric vehicles across the nation. The economic conditions of these nations and the changing preference of consumers and riders have positively influenced the Mobility as a Service market in recent years.
Market Segmentation
The Global Mobility as a Service Market is segmented into by;
Service Type
- Ride-Hailing
- Car Sharing
- Micro mobility
- Bus Sharing
- Train Services
Solution Type
- Technology Platforms
- Payment Engines
- Navigation Solutions
- Telecom Connectivity Providers
- Ticketing Solutions
- Insurance Services
Transportation Type
- Public
- Private
Vehicle Type
- Micro mobility
- Four-wheelers
- Buses
- Trains
Application Type
- Personalized Application Services
- Journey Management
- Journey Planning
- Flexible Payments & Transactions
Operating System
- Android
- iOS
- Others (Linux, Symbian OS, Blackberry OS, Windows and KaiOS)
Business Model
- Business-to-Business
- Business-to-Consumer
- Peer-to-Peer
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Key Players
The Global Mobility as a Service Market key players are Daimler AG (Germany), Bayerische Motoren Werke AG (BMW) (Germany), Deutsche Bahn (Germany), Xerox Corporation (US), Lyft Inc. (US), MaaS Global Oy (Switzerland), GrabTaxi Holdings Pte Ltd. (Singapore), Beijing Xiaoju Technology Co. Ltd. (China)
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