Mobility as a service Market to 2025 – Global Analysis and Forecast by Service Type, Application Platform, Business Model and Vehicle Type. Mobility as a service market is expected to grow to US$ 358.35 billion by 2025 from US$ 38.76 billion in 2017. It is estimated that more than 50% of the world population resides in the urban areas and is expected to rise exponentially in the coming years. Also, as per statistician’s estimations, there are more than a billion cars on road worldwide and the people have been keen on keeping cars for longer times with them than ever before. These factors have had far reaching impacts on the urban mobility infrastructure that includes high traffic density on roads, limited space availability within a certain urban city premise incapable of parking the entire fleet of cars available, increased mobility demand and imbalance between supply and demand for transportations. Drivers today spend more than 50 hours per year in traffic congestions behind the wheels which has impacts on the global economy as well. Thus, a large amount of time is spent without much productivity causing inconvenience to the consumer as well as incurring high costs. Furthermore, the utilization of private cars owned by individuals remain largely unutilized. These factors and concerns surrounding the inconsistencies in the transportation infrastructure has created opportunities for innovation in new mobility services.

Mobility as a Service (MaaS) Market to Grow at a CAGR of 33.9% to reach US$ 358.35 Bn from 2017 to 2025

Mobility as a Service (MaaS) Market 2025 – Global Analysis and Forecasts by Service Type (Self-driving Car Service, Ride-Hailing, Car Sharing, Bi-Cycle Sharing and Bus Sharing); Application Platform (Android and iOS); Business Model (B2B, B2C and P2P); & Vehicle Type (Passenger Cars, Bike and Bus)

Download Exclusive PDF Sample Report @ https://www.theinsightpartners.com/sample/TIPTE100000803/

The advent of MaaS market has feared decline in the sales of automobiles in the coming years as individuals gradually give up owning cars. The change in the end-user market with regards to car ownerships has inflicted a significant impact on the innovation management as well as business strategy of some of the most renowned OEMs of the world such as Daimler, BMW and Audi. The OEMs have been looking for business opportunities to offset for this particular decline in passenger car sales. The vehicle sharing market has been focused by many automotive OEMs recently. Today, the industry OEMs have started focusing on generating service business that includes electric mobility, car sharing and car renting. The mobility services position automotive OEMs at the center stage of the growing market with high emphasis on car rentals, car sharing as well as logistic services for transportation of goods.

Daimler has come up with EQ, PSA Group has launched Free2Move and Volkswagen Group launched Moia. Daimler has made the first and smartest move in coming up with mobility service solutions. Portfolio of solutions by Daimler for mobility services include Car2Go and mytaxi applications. General Motors is using Enterprise CarShare as a brand-building tool to promote its budget-friendly Chevrolet portfolio. Honda has formed a partnership with car sharing company ZipCar to enter the mobility service market. The proliferation of some of the reputed OEMs into the MaaS market provides much needed investments and boost to the rapidly expanding market. OEMs occupy the critical interfaces between products and services, hardware and software. Thus, their brands, powerful distribution networks, and customer following can help build and sustain mobile services at scale.

The penetration of ride-hailing services is high in China, France, U.S., U.K., and India. Awareness about the benefits of this services is leading to the increased popularity of ride-hailing services in these countries. Growing popularity of ride-hailing mobility services by different business for their needs to serve passengers is also leading to increased penetration of ride-hailing services. Business such as airports, hotels, even-venue owners and businesses that own self-service kiosks in public spaces are the major customers of ride-hailing mobility services. Also, the ride-hailing market is currently, witnessing a high growth rate owing to increased investments by various OEMs as well as TNCs.  However, owing to the emergence of other inexpensive mobility services, the market share for ride-hailing is anticipated to decrease. The global mobility as a service market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. The key players profiled in the report are Uber Technologies Ltd., Lyft, Inc., SkedGo Pty, Ltd., UbiGo AB, Whim App and Moovel Group GmBH. Also, Transit Systems Pty Ltd., Splyt Technologies Ltd., Qixxit and Beeline Singapore are other key companies in the mobility as a service market.

The tremendous increase in the number of cars being operated worldwide, increases the problems of traffic congestion, increase in harmful emissions and many others. Ride sharing is a concept designed to address this issue around the globe. Because the technology offers a win-win situation for both service provider as well as end users. Several companies in the developed and the developing economies are significantly investing into this trend, as it not only reduces the traffic congestion but also ensures overall sustainable development.

As mobility as a service is becoming a common thing amongst users, consumers and automakers have pushed the mobility as a service system supplier for more innovations and integrations. Consumers demand for more intuitive technology associated with their mobility applications, thus pushing application service providers as well as other stakeholders in this market for advanced integrations. The entry of automotive OEMs into the mobility as a service market is influencing large investments into this market thus driving innovations for the development of the market. The market for mobility as a service globally is a fragmented one where the top 10 companies operating in this market amount to a very insignificant portion of the entire market.

Read More Information@ https://www.theinsightpartners.com/reports/mobility-as-a-service-market