PUBLISHER: SkyQuest | PRODUCT CODE: 1133452
PUBLISHER: SkyQuest | PRODUCT CODE: 1133452
The Global Mobility as a Service (MaaS) Market Size was valued at USD 3.27 Billion in 2021, and it is expected to reach a value of USD 22.18 Billion by 2028, at a CAGR of 31.45% over the forecast period (2022 - 2028).
The Global Mobility as a Service (MaaS) Market's growth is impacted by factors such as increased smart city initiatives, increased acceptance of on-demand mobility services, the desire to reduce CO2 emissions, enhanced 4G/5G infrastructure, and smartphone penetration. As a result, the market for mobility as a service is likely to increase significantly in the future. Over the projected period, the Mobility as a Service (MaaS) Market is probably going to be driven by the increased popularity and adoption of shared mobility. Automobile sharing is viewed as a financially savvy alternative to car possession since it saves buyers' maintenance and fuel costs; it also adds to bring down degrees of air contamination. Moreover, rising purchaser disposable pay and increased interest in transportation infrastructure are supporting mobility as a service area. Various government initiatives in arising nations to advance the utilization of mobility as a service are demonstrating advantageous to the transportation business. For example, the European Union Commission and government organizations, for example, CERRE offer motivations to car proprietors to stimulate the utilization of ride-hailing services. Another component driving the business is the increased usage of e-bicycle sharing by everyday office suburbanites, which saves time and assists with cutting outflows created by traditional taxis.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mobility as a Service (MaaS) Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The Global Mobility as a Service (MaaS) Market segmentation is based on Type, Application, and Region. Based on the Type, the Global Mobility as a Service (MaaS) Market is segmented as Ride-Hailing, Car Sharing, Taxi Services, and Others. Based on the Application, the Global Mobility as a Service (MaaS) Market is segmented as IOS, Android, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
The major Mobility as a Service (MaaS) driver is governments all across the world are taking steps to encourage digital payments. The Indian government, for example, created the Digital-India programme, which aims to promote cashless transactions and digital payment systems throughout the country. The industry is being driven by the increasing number of e-commerce enterprises and the expanding use of e-wallets for transactional purposes. During the forecast period, the Mobility as a Service (MaaS) Market is also projected to be driven by the development of highly secure and safe payment gateways.
One of the key constraints is increased transportation congestion and pollution, particularly in developing nations. Most of the time, drivers are driving alone; this contributes to increased vehicle emissions and traffic congestion that would not exist without ride-hailing. In order to minimize traffic congestion, governments in numerous developing nations are pushing citizens to use public transportation rather than Mobility as a service.
The growing interest of power companies in the car-sharing market has resulted in a significant Mobility as a Service (MaaS) Market trend. Because traditional cars emit a large quantity of pollution, governments in developing nations have enforced tough emission standards in order to reduce growing pollution. Many large firms, mostly mobility as a service provider, are establishing a foothold in the transportation industry, which is projected to increase their worldwide market position.