Global Mobility as a Service Market to Grow at a CAGR of 17.50% During 2024-2032, Driven by Improvement in Telecom Infrastructure

The growing usage of the internet and increasing smartphone penetration support the mobility as a service market growth expansion. Internet usage is increasing at a yearly rate of 2.1% worldwide, however, in many developing economies, growth is substantially faster year over year.

The Asia Pacific is witnessing a healthy growth due to rapid urbanisation and growing smartphone and internet penetration in developing economies like China, Indonesia, and India, among others. Continuous research and development are leading to the development of app-based cab services such as the DiDi app in China and Ola and Uber in India, among others.

Partnerships and consumer demand for digitisation drive the market growth. In September 2023, Uber Technologies Inc. (NYSE: UBER) partnered with the Indian Navy in order to provide naval officers, personnel, and families with transportation options for official travel and commuting across the nation. The Indian Navy can also effortlessly incorporate cutting-edge ride-sharing technology via Uber for Business into the naval ecosystem.

Through this agreement, prestigious Indian Navy officers, personnel, and their families will receive dependable, practical, and secure mobility options, including additional privileges such as no cancellation fees, a unique vehicle category, and first-rate customer service, among many other benefits. Such partnerships represent a significant step towards digitisation and are projected to contribute to the Indian Navy's greater mission of embracing technology for positive change. Uber’s initiative towards green or electric vehicles to reduce carbon footprint further expands the market growth.

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Market Analysis by Service Type, Solution Type, Transportation Type, Vehicle Type, Application, and Region:

• The market, on the basis of service type, can be divided into car sharing, micromobility, ride hailing, bus sharing, and train services.

• Based on solution type, the market can be segmented into technology platforms, telecom connectivity providers, ticketing solutions, payment engines, navigation solutions, and insurance services.

• The different transportation types for mobility as a service include public and private.

• The market, on the basis of vehicle type, can be divided into four-wheelers, buses, micromobility, and trains.

• Based on application, the market can be divided into personalised application services, journey management, journey planning, and flexible payments and transactions.

• The major regional markets for mobility as a service include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising internet penetration, growing demand for 5G networks, and improving telecom infrastructure fuel the mobility as a service market growth.

• The development of onboard and roadside units and the availability of several communication mechanisms, including the vehicle-to-vehicle (V2V) mode, vehicle-to-roadside units (V2R), and others, drive the market growth.

• The advent of electric vehicles and automation has fostered the adoption of a subscription-based mobility model for smooth and hassle-free transportation.

• Easy payment services such as IMPS, UPI, and USSD are making transactions easier and cutting down the failure rate, which creates opportunities for mobility as a service business to adopt such models.

Key Offerings of the Report:

• The EMR report gives an overview of the global mobility as a service market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the service types, solution types, transportation types, vehicle types, applications, and major regions of mobility as a service.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global mobility as a service market are MaaS Global Ltd., Moovit App Global Ltd., Uber Technologies Inc., SkedGo Pty Ltd, and FOD Mobility UK Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.