The global mobility as a service (MaaS) market is predicted to touch USD 253.16 billion at a 36% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Mobility as a service includes a combination of different modes of transport such as bikes, bus, and car on one mobility solution that is available on demand. It is used to improve transportation offerings and combines various types of transportation modes from different providers, thus controlling everything right from payments to travel planning and more. MaaS keeps all worries away regarding car maintenance, parking, and route planning.
Mobility as a service smartly handles people’s travel requirements, yet the monthly subscriptions make it truly special. Mobility as a service is a paradigm shift in the transportation space. People no longer need to worry regarding paying for individual fares, buying tickets, or topping up cards anymore. Personalized service, simplified payments, and easy route planning are the top three features that have led to the immense popularity of mobility as a service.
Various factors are driving the growth of mobility as a service market. These factors, in accordance with the Market Research Future (MRFR) report, include the on-demand transportation services, integrated platform of mobility services, favorable government initiatives to develop MaaS, public-sector participation, and government policies. Additional factors driving the market growth include rapid development of public infrastructure, improved networks coupled with greater proliferation and higher speed, better cashless payment systems, mobility management players, and integration of private and public transportation providers along with telecom service providers.
The Market Research Future report provides a wide segmental analysis of mobility as a service market based on deployment, type, application platforms, and services.
Based on type, mobility as a service market is segmented into private type and public type.
Based on services, mobility as a service market is segmented into self-driving car services, pop up bus services, car sharing services, bike sharing services, e-hailing services, and others.
Based on deployment, mobility as a service market is segmented into on-cloud and on-premises.
Based on application, mobility as a service market is segmented into the iOS platform, Android platform, and others.
Based on the region, the COVID-19 analysis of mobility as a service market report covers growth opportunities and the latest trends across Europe, Asia Pacific, North America, and Rest of the World. Among these, Europe will lead the market over the forecast period. France, the UK, Finland, and Germany are the key contributors here as they are contributing to the market growth substantially.
The mobility as a service market in the APAC region will have a notable growth over the forecast period. South Korea, Singapore, Taiwan, Malaysia, Japan, India, New Zealand, China, Australia, and Hong Kong are the key contributors here. A substantial rise in the urban population index and increase in disposable income are pushing the market growth. Moreover, the car sharing trend is picking up the pace that is helping the mobility as a service market score higher with regards to revenue. China is doing exceptionally good. The number of smartphone users in India and China is quite high that is enabling people to get mobility as a service at their fingertip.
Leading players profiled in the mobility as a service market report include Make My Trip (India), Ridepal (US), Ola (India), Bridj (US), Hailo (UK), Car2go (US), Communauto (Canada), Daimler AG (Germany), Deutsche Bahn (Germany), MaaS Global (Finland), Uber Technologies Inc. (US), Lyft Inc. (US), Xerox Corporation (US), Apple Inc. (US), Alliance Corporation (Canada), and BMW Group (Germany).
June 2019: Isuzu Motors, Daihatsu Motor, Subaru, Suzuki Motor, and Mazda Motor will enter a joint venture, Monet Technologies that was announced by SoftBank and Toyota in 2018. This venture aims to offer services such as on-demand rides in Japan in self-driving vehicles. The five automakers are teaming to gather and analyze data to offer MaaS (mobility as a service).