Mobility as a Service (MaaS) Market Size - By Service (Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, Train Services), Business Model (B2B, B2C, P2P), Transportation, Solution, Application Platform, Requirement, Organization, Forecast, 2024 - 2032

Mobility as a Service (MaaS) Market Size - By Service (Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, Train Services), Business Model (B2B, B2C, P2P), Transportation, Solution, Application Platform, Requirement, Organization, Forecast, 2024 - 2032

Mobility as a Service Market Size

Mobility as a Service (MaaS) Market size was valued at USD 678.1 billion in 2023 and is anticipated to register a CAGR of 11.6% between 2024 and 2032. The increased investments in MaaS applications will significantly drive market growth. The increasing financial support from investors provides MaaS platforms with the necessary resources to enhance technological capabilities, expand services, and scale operations.

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For instance, in October 2023, the umob platform, an MaaS solution that seamlessly combines shared mobility, taxi services, and public transportation within a single application, secured USD 6.49 million in funding from multiple investors. This financial support aimed to facilitate the expansion of the platform across Europe.
 

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The rapid urbanization and population growth will boost the MaaS market size. As cities expand, the demand for efficient & integrated transportation solutions rises. MaaS, with its multi-modal approach and seamless user experience, addresses the challenges posed by urban mobility. The increasing concentration of populations in urban areas underscores the necessity for innovative, technological solutions, making MaaS a key player in reshaping the landscape of urban transportation.

The proliferation of user data in MaaS platforms raises concerns about data privacy and security. Safeguarding sensitive information is important to building and maintaining user trust. MaaS providers need to implement robust encryption, authentication, and authorization mechanisms to protect data against unauthorized access and potential breaches. Complying with stringent data protection regulations and adopting transparent policies regarding data handling are essential to address the intricate challenges associated with data privacy and security in the MaaS landscape.

Mobility as a Service Market Trends

Partnerships in mobility advancements play a pivotal role in propelling the mobility as a service industry demand. Collaborations between companies with complementary expertise foster innovations and accelerate the development of integrated solutions. For instance, in June 2023, Kakao Mobility of South Korea and Vietnam's Phenikaa Group established a business agreement to promote collaboration in the technology sector of mobility platforms. Under this agreement, Kakao contributed its expertise in platform development to Phenikaa MaaS, facilitating collaborative efforts to explore future advancements in mobility. This collaboration aimed to leverage the core competencies of Phenikaa-X for joint development within the mobility sector.

The integration of advanced technologies including Artificial Intelligence (AI) is fostering the mobility as a service market revenue. AI enhances route optimization, predictive analysis, and personalized user experiences, improving the overall efficiency. Automation in payments and real-time data analysis further streamlines MaaS operations. This technological integration not only enhances service quality but also attracts users, boosting the market's success. As AI is advancing, it will play a pivotal role in shaping MaaS into a more intelligent, user-centric, and efficient urban mobility solution.

Mobility as a Service Market Analysis

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Based on service, the ride hailing segment accounted for 37% of the market share in 2023, due to its convenience and cost-effective transportation solutions. With the growing urbanization, consumers are seeking efficient alternatives to traditional transport. Ride-hailing services offer flexibility, real-time accessibility, and seamless integration into MaaS platforms. The evolving preference for shared mobility and the emphasis on sustainability will boost the expansion of the ride hailing segment within the broader MaaS landscape, addressing the dynamic mobility needs of contemporary urban population.

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Based on application platform, the android segment held around 70% of the mobility as a service market share in 2023, owing to the extensive use of android smartphones. Android's user-friendly interface, extensive app ecosystem, and compatibility with MaaS applications make it a preferred platform for accessing and utilizing mobility services.
 

As MaaS is evolving, the Android segment is expected to witness increased adoption, providing users with seamless and diverse options for planning, booking, and managing their multimodal transportation needs. For instance, in October 2023, Namma Yatri launched the 'Purple Rides' initiative, through its auto-hailing app. It aims to enhance mobility for individuals with disabilities by enabling drivers with disability-friendly services.

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Europe mobility as a service market share was over 38% in 2023 and is poised to reach USD 233 billion by 2032, attributed to robust urban planning, efficient public transportation networks, and a strong emphasis on sustainability. The region's supportive regulatory environment and technological infrastructure foster the integration of diverse mobility services into unified platforms. With a growing preference for seamless, multimodal transportation options, Europe anticipates increased MaaS adoption. This will offer commuters comprehensive and convenient solutions for their mobility needs, further driving market expansion.

Mobility as a Service Market Share

Uber Technologies Inc. and Lyft, Inc. dominates the market by holding over 10% revenue share. The key players in the Mobility as a Service (MaaS) industry dominate due to strategic initiatives, technological prowess, and adaptability to the evolving consumer needs. These companies leverage comprehensive, user-friendly platforms that integrate diverse transportation services. The established players have global reach and extensive user bases, providing seamless mobility experiences.

Innovations, partnerships with transport modes, and effective marketing contribute to their dominance. Financial strength, regulatory compliance, and the ability to navigate complex market landscapes further solidify their positions, shaping the industry.

Mobility as a Service Market Companies

The major companies operating in the mobility as a service (MaaS) industry are

• Beijing Xiaoju Technology Co., Ltd.
• Careem
• Curb Mobility
• Europcar
• HERTZ SYSTEM, INC.
• Lyft, Inc. (U.S.)
• MOBIKO
• Movmi Shared Transportation Services Inc.
• Uber Technologies Inc.

Mobility as a Service Industry News

• In January 2024, May Mobility, an autonomous vehicle startup, initiated a fully driverless service in Arizona. This deployment offers residents autonomous transportation without a safety driver, showcasing advancements in autonomous technology within the mobility sector.
• In September 2023, Brussels introduced a single app called “Floya” that integrates all local mobility services. This user-friendly app allows residents to access transportation solutions including public transit, bike-sharing, and ride-hailing services all in one place. It aims to streamline urban mobility and promote the use of sustainable transportation methods in the city.

The mobility as a service (MaaS) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments

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Market, By Service

• Ride Hailing 
• Car Sharing
• Micro Mobility
• Bus Sharing
• Train Services

Market, By Business Model

• B2B
• B2C
• P2P

Market, By Solution

• Technology Platforms
• Payment Engines
• Navigation Solutions
• Telecom Connectivity Providers
• Insurance Services

Market, By Transportation

• Private
• Public

Market, By Application Platform

• IOS
• Android
• Others

Market, By Requirement

• First & Last Mile Connectivity
• Off-Peak & Shift Work Commute
• Daily Commuter
• Airport or Mass Transit Stations Trips
• Inter-City Trips
• Others

Market, By Organization Size

• Large Enterprises
• SMEs

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Netherlands
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia

Frequently Asked Questions (FAQ)

What is the size of the mobility as a service (MaaS) market?

The market size of mobility as a service reached USD 678.1 billion in 2023 and is set to grow at 11.6% CAGR from 2024 to 2032, owing to the proliferation of smartphones and advanced transportation apps.

How will android application platform contribute to mobility as a service industry growth?

bThe Android segment held around 70% revenue share in 2023 and is pivotal in propelling the market growth as Android-based platforms offer a robust and versatile ecosystem for developing mobility as a service application, enabling seamless integration of various transportation services & functionalities.

Why is Europe emerging as a lucrative growth avenue for mobility as a service market players?

Europe held a dominant market share of over 38% in 2023 and will surpass USD 233 billion by 2032, backed by the rapid urbanization and population growth in major cities, leading to increased traffic congestion & pollution.

Which companies define the competitive landscape of mobility as a service industry?

MOBIKO, Europcar, Curb Mobility, Uber Technologies Inc., HERTZ SYSTEM, INC., Beijing Xiaoju Technology Co., Ltd., Lyft, Inc. (U.S.), Careem, and movmi Shared Transportation Services Inc.