Currently, the MaaS industry 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.
The global Mobility as a Service market is expected to grow from US$ 38.76 Bn in 2017 to US$ 358.35 Bn by 2025 at a CAGR of 33.9% between 2017 and 2025.
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. 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.
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Some of the global key players operating in the mobility as a service market are Uber Technologies, Inc., UbiGo AB, SkedGo Pty Ltd., Lyft, Inc., Whim App and Splyt Technologies Ltd, Transit Systems Pty Ltd., Smile Mobility, Qixxit, Moovel Group GmBH and Beeline Singapore are other key companies in the mobility as a service market.
As urban density continues to grow, commuting and travelling has become a crucial aspect in everyone’s life. As digitalization grow, various different tools were being developed to find information for planning and conducting trips. However, these applications have some shortcoming in terms of planning trips with different mode of transport as every user have to locate, book, and pay for each mode of transportation separately.
The demand for a compact digital platform has grown in the recent years that has a capability to allow end-to-end trip planning, booking, electronic ticketing, and integrated one payment services for all modes of transportation, either public or private. Mobility as a Service (MaaS) integrates various forms of transport services into a single mobility service platform accessible on demand by end-users. MaaS provides users with the real-time information from throughout the transportation network and takes into consideration all form of possible options to match users preferences (for example, time and convenience vs. cost), and facilitates seamless payment.
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The mobility as a service market segmentation is done on the basis of service type, application platform, business model and vehicle type. The service type segment of mobility as a service market includes self-driving car service, ride-hailing, car sharing, bi-cycle sharing and bus sharing. On the basis of application platforms, the market has been segmented into Android, iOS and others.
Additionally, the mobility as a service market has also been segmented by business model into B2B, B2C and P2P rentals. Different types of vehicles are used in the multi-modal transportations that form the basis for segmentation of the market on vehicle type which are passenger cars, bus and bikes. On the basis of geography, the mobility as a service market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
Reasons to Buy the Report
The report helps the market leaders and new entrants in the Mobility as a Service (MaaS) Market in the following ways:
- The report segments the market into various subsegments; hence, it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments.
- The report helps understand the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
- The report helps better understand competitors and gain more insights to strengthen organizations’ position in the market. In addition to this, the report presents the positioning of the key players based on their product offerings and business strategies.
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