Automotive

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

The global mobility as a service market size was valued at USD 220.37 billion in 2023 and is projected to reach around USD 912.35 billion by 2032, at a CAGR of 17.1% from 2023 to 2032.

Key Points

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.

Mobility as a Service (MaaS) is a market that encompasses the integration of various forms of transport services into a single, accessible platform, allowing users to plan, book, and pay for their journeys through a single interface. MaaS aims to provide a seamless, user-centric experience by combining different transportation modes such as public transit, ride-hailing, car-sharing, bike-sharing, and more.

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Growth Factors:

The MaaS market is experiencing growth due to the increasing urbanization, the need for efficient transportation options, and growing awareness about the environmental impact of traditional transport. Technological advancements, such as real-time data processing and mobile payment systems, have also facilitated the rise of MaaS. Furthermore, the shift towards sustainable transportation and the adoption of electric and autonomous vehicles have played a role in boosting the MaaS market.

Region Insights:

MaaS is expanding rapidly in urban areas across the world, with Europe and North America leading the way in terms of adoption. Cities like Helsinki, London, and Los Angeles have been at the forefront of implementing MaaS solutions. In the Asia-Pacific region, countries such as China and Japan are also investing in MaaS due to their dense urban populations and technological infrastructure.

Mobility as a Service Market Scope

Report Coverage	Details
Market Size in 2023	USD 220.37 Billion
Market Size by 2032	USD 912.35 Billion
Growth Rate from 2023 to 2032	CAGR of 17.1%
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Service Type, Solution Type, Transportation Type, Vehicle Type, Application, Operating System, Business Model, Propulsion Type, Mode, End User, and Geography

Drivers:

The main drivers of the MaaS market include increased demand for convenient and efficient transportation solutions, rising concerns about urban congestion and pollution, and the proliferation of smartphones and internet connectivity. Additionally, governments worldwide are supporting MaaS through policies promoting public transportation and sustainable mobility.

Opportunities:

Opportunities in the MaaS market lie in the development of innovative, user-friendly platforms and partnerships between transportation providers. Integrating autonomous and electric vehicles into MaaS networks can further enhance its appeal. Expanding into emerging markets and rural areas can open up new avenues for growth.

Challenges:

Challenges facing the MaaS market include regulatory hurdles, data privacy concerns, and the need for interoperability between different transportation modes and providers. Additionally, ensuring seamless and reliable service across all modes of transport can be difficult. Overcoming these challenges will be crucial for the sustained growth and success of the MaaS 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, Mobilleo 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.