Mobility as a Service Market Size to Worth USD 912.35 Bn by 2032

The global mobility as a service market size was estimated at USD 189 billion in 2022 and is expected to hit around USD 912.35 billion by 2032 and is poised to grow at a CAGR of 17.1% during the forecast period 2023 to 2032.

Key Takeaways:

• Asia Pacific mobility as a service market size was valued at USD 76.5 billion in 2022.
• Europe accounted highest revenue share of over 30% in 2022.
• By vehicle type, the passenger car segment accounted revenue share of over 34.5% in 2022.

Increasing demands with increasing population have thrived the mobility as a service market growth. Improved technologies and developments across the region with different modes of transportation available as per the requirements of the customers which includes ride sharing, bike sharing, car sharing, bike commuting, buses, trains and other services provided for the transportation with developed solutions increased parking management, mobility management, traffic management have raised the market growth high.

Increased mobility as a service with less pollution and less emission of carboondioxide due to decreased number of vehicles on the road. Developed technologies such as 3G, 4G, 5G, Wi-Fi, embedded systems have also contributed for connection of one user to another user over internet connectivity or Wi-Fi with high speed for better performance.

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Key Insights

• Asia Pacific mobility as a service market size was estimated at USD 76.5 billion in 2021.
• Europe region has contributed revenue share of over 30% in 2021.
• By vehicle type, the passenger car segment has made up revenue share of around 34.5% in 2021.

Regional Snapshots

The mobility as a service with advanced developed technologies in various region have helped the market to grow across various regions with wide innovations in the technologies and increasing demands due to increased populations for the new technologies taking place in the regions.

Asia pacific region to hold the top position in mobility as a service market. Newly developed mobility options in the regions with improved safety and efficiency of modes of transport. Countries included are India, China, Japan, France, Italy, and Germany. Other regions included are North America, Europe also have the highest position in mobility as a service market.

Report Scope of the Mobility as a Service Market

Market Dynamics

Drivers

Mobility as a service has various factors affecting the growth of the market. Increased modes of transportation includes such as bike sharing, ride sharing, bike commuting, buses, trains which increased the mobility service market growth with various developed technologies. Increased solutions more over includes parking management, traffic management, mobility management, easy navigation, ease of payment through online transaction, less pollution due to decreased usage of personal vehicles which led to less emission of carbon dioxide. Which gives development to the green city. Improved technology with 3G, 4G, 5G, Wi-Fi, other wireless systems are used to connect with smart phones for mobility as a service. Support from the government for developing emission free technologies have enhanced the mobility as a service market growth.

Restraints

Mobility as a service market with developed technologies and features by automotive industry have thrived the market growth. Lack of awareness among the people about developed technologies of mobility as a service with improved modes of transportation available at low cost and increased efficiency, low emission may hamper the growth of the mobility as service market with lack of knowledge of smart phones with the wireless connectivity of 3G, 4G, and 5G connections available. Decreased connection may hamper the growth of the mobility as a service.

Opportunities

The underdeveloped countries with advance developing technologies across the regions and increased demand due to increased population and increased demands as per the customers requirement and facilities provided by the mobility as a service management for safe journey with in given time schedules gained the attention of the market with increased revenue share and rise of the market during the forecast period.

Improved technologies such as 3G, 4G, 5G, Wi-Fi connectivity and other systems helps to connect the mobility management for transport system over wireless connections information is transmitted from one user to another user with improved cyber security and the internet connectivity have expanded the market to grow high.

Challenges

Increased technologies and various innovative developments in mobility as a services. Lack of awareness regarding the mobility services and facilities available in the market such as increased modes of transport system, technologies and solution having no knowledge of mobility types and lack of skill regarding usage of the smart phones among the people which can hamper the growth of the market.

Wireless connectivity is the major source for connecting with the people for transportation low connectivity can disconnect the contact and decrease the growth of the mobility as a service market.

Recent Developments

• In the year 2018 February, Citymapper pass was introduced by the citymapper, subscription of the smart travelling card with the multimodal mobility app to all the mobility managements. Launched in London for public transport such as buses, cycles and cabs.
• In the year 2019 April, Mobile involved a hailing ride transport option which can connect wireless for contacting the car or a taxi ride services nearby. Collaboration with multiple services and can connect globally from anywhere for a mobility service such as hailing ride.
• In the year 2020 May, mobility as a service Global Oy collaborated with Finland largest, Enfuce to startup new payment mode to introduce a payment through card through mobility app. The collaboration gave rise to issue master card prepaid cards and to the mobility as a service market.

Market Segmentation

By Service Type

• Ride Hailing
• Car Sharing
• Micromobility
• Bus Sharing
• Train Services

By Solution Type

• Technology Platforms
• Payment Engines
• Navigation Solutions
• Telecom Connectivity Providers
• Ticketing Solutions
• Insurance Services

By Transportation Type

• Public
• Private

By Vehicle Type

• Micromobility
• Four-wheelers
• Buses
• Trains

By Application

• Personalized Application Services
• Journey Management
• Journey Planning
• Flexible Payments & Transactions

By Operating System

• Android
• iOS
• Others (Linux, Symbian OS, Blackberry OS, Windows, and KaiOS)

By Business Model

• Business-to-Business
• Business-to-Consumer
• Peer-to-Peer

By Propulsion Type

• ICE Vehicle
• Electric Vehicle
• Hybrid Electric Vehicle
• CNG/LPG Vehicle

By Mode

• Public
• Private

By End User

• Business Developments
• Transport Services
• Academics
• Civil Work
• Hospital Transport Facility
• Municipal Sector

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)