Mobility as a Service Market worth $40.1 billion by 2030

1. Mobility as a Service Market worth $40.1 billion by 2030 The Mobility as a Service Market size is projected to reach USD 40.1 billion by 2030 from an estimated USD 3.3 billion in 2021, at a CAGR of 32.1% from 2021 to 2030. The growth of this market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, the need to reduce CO2 emissions, improved 4G/5G infrastructure, and the penetration of smartphones. Therefore, the Mobility as a Service Market is expected to witness significant growth in the future. Market Dynamics DRIVER: Increasing urbanization and smart city initiatives Mobility as a service implementations are driven by regulations and an emerging focus on smart city initiatives. Countries are formulating new regulations to encourage the use of mobility as a service in transportation. For instance, the Finnish Act on Transport Services came into force in 2018 and aims to promote the implementation of mobility as a service, amongst other things. France is also at the forefront of the development of new mobility schemes and mobility as a service models. On November 19th, 2019, the French Parliament adopted the “Mobility Orientation Act”, covering all aspects of terrestrial transportation: individual and shared cars, carpooling, buses, railways, and chauffeur-driven vehicles, along with micro-mobility such as rental bikes or electric scooters. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=78519888 RESTRAINT: Increase in demand of car rentals/ station-based car rentals post-pandemic With the increasing necessity to follow social distancing norms amid the COVID-19 pandemic, station- based mobility is likely to gain more popularity. On the other hand, instead of choosing multimodal transportation, commuters would opt for car rental services to ensure minimal contact with people as opposed to public transportation. Commuters would place more trust in car rental enterprises for timely sanitization instead of using car-sharing services. The decrease in demand for multimodal transportation, such as car-sharing, bus-sharing, and train services, would lead to a short-term decline in the market. OPPORTUNITY: Increasing use of autonomous cars and electric vehicles Mobility as a service uses public as well as private vehicles, where a majority of the revenue is generated from ride-sharing services. Autonomous cars will reduce the need for private vehicle ownership and the burdens that come along with it. Riders will no longer be responsible for driving which will help ride- sharing companies to increase their revenue as approximately 60-70%% of its revenue is shared with drivers for each ride. Experts predict that autonomous cars will be available commercially in 2022 and, by 2025, these vehicles will contribute towards a significant volume of new vehicle sales. Electric Mobility as a Service (eMaaS) is also gaining pace in the market. It combines highly innovative technologies and new business models to create conditions for the large-scale adoption of electric

2. vehicles. The use of electric vehicles not only reduces carbon emissions but also lowers noise and air pollution. It can also be cheaper to run per mile as EV’s per-mile cost is 70-80% lower as compared to ICE vehicles, and it reduces dependency on fossil fuels. Encouraging consumers with attractive subscriptions for multimodal transportation can create new opportunities in the Mobility as a Service Market. Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=78519888 Ride hailing segment estimated to lead Mobility as a Service Market during the forecast period The ride hailing segment is expected to command the largest share of the Mobility as a Service Market due to its global acceptance at all levels — from personal use to enterprise use due to its ease of booking and the comfort it provides. Factors such as ease of booking, increasing traffic congestion, passenger comfort & convenience, and government initiatives to increase awareness among people regarding air pollution are boosting the demand for ride sharing, predominantly e-hailing. Ride hailing can be easily integrated with public transport since it is an on-demand transportation service that can be accessed by a single user. However, it may be inconvenient to use public transport (trains and buses) in urgent situations as well as in situations like the current COVID-19 pandemic, which has created more demand for e-hailing services to maintain social distancing, leading to the use of more ride-sharing services instead of public transport. mobility as a service providers have already started to partner with ride hailing service providers to integrate their services with other modes of transportation. For instance, Moovit Inc., the leading mobility application, entered into a partnership with Uber to understand real-time traffic management. Uber is also moving into the Mobility as a Service Market, extending its ride hailing services with new mobility offerings. Key Market Players: The mobility as a service market is dominated by major players such as Moovit Inc. (Israel), MaaS Global Oy (Finland), Citymapper (UK), Mobilleo (UK), SkedGo Pty Ltd (Australia), UbiGo (Sweden), Splyt (UK), Qixxit (Germany), Communauto (Canada), and Tranzer (Netherlands). Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=78519888