The global Mobility as a Service (MaaS) market accounted for US$ 44.33 Bn in 2017 and is expected to grow at a CAGR of 36.4% during the forecast period 2018 – 2025, to account for US$ 476.34 Bn in 2025.
The mobility as a service (MaaS) market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. Currently, the mobility as a service (MaaS) market is experiencing staggering growth that has been by a numerous factor. The most significant factors that have impacted the growth of this industry are rapid urbanization and consequently more number of passenger cars on the roads leading to congestions and parking problems. Apart from the application platform providers, large automotive OEMs have announced their plans to invest in this large business opportunity. MaaS is expected to be a key driver in the growth and profitability of the automotive industry outpacing the profits earned by only manufacturing cars by these automakers.
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The growth of this technology is very high as significant investments are being collected to implement this technology for a better traffic management and public transportation system. In the forecasted period, the mobility as a service (MaaS) market is estimated to grow at a good pace. Some of the key players contributing significantly to the market are Uber Technologies, Inc., Bridi, Moovel, Whimm and Qixxit. Asia Pacific region in global mobility as a service (MaaS) market is expected to witness a CAGR growth rate of 7.3% in the coming years.
Top Key Players profiles in this report includes, Lyft, Inc., Uber Technologies Inc., Beeline Singapore, SKEDGO PTY LTD., UbiGo AB, Whim App (MaaS Global Oy), Moovel Group GmbH, QIXXIT, Splyt Technologies Ltd., Smile Mobility.
The mobility as a service (MaaS) market in Asia Pacific is expected to grow at a CAGR of 38.9% during the forecast period 2018 – 2025. The need for implementation of intelligent transport solutions in the Asia Pacific region is very high that also includes improved infrastructure in transportation system. Rising needs of mobility systems are fully utilized in APAC region including Hong Kong, Australia, China, New Zealand, India, Japan, Malaysia, Taiwan, Singapore, and South Korea. Market of MaaS in APAC region is gaining momentum with growing disposable income and urban population, boosting the market domestically and regionally. Implementation of ride-hailing services is getting adopted rapidly in the developing countries. In Asia Pacific, market penetration for car sharing services is high because of large number of potential users.
The mobility as a service (MaaS) market has been segmented on the basis of service type into self-driving car service, ride-hailing service, car sharing service, bi-cycle sharing service and bus sharing services. Based on application platform the market is categorized as android, iOS, and others. On basis of business model, the mobility as a service (MaaS) market is classified as B2B, B2C, and P2C. Also, the market is segmented based on vehicle type as passenger cars, bike, and bus. On the basis of geography, the mobility as a service (MaaS) market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
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