Mobility As A Service Market Size By Service Type (Bi-Cycle Sharing, Bus Sharing, Car Sharing), By Business Model (B2B, B2C, P2P Rentals), By Industry Vertical (Bikes, Buses, Passenger Cars), By Applications (Android, iOS), By Geographic Scope And Forecast

Mobility As A Service Market Valuation – 2024-2031

The Mobility as a Service (MaaS) market is a rapidly growing sector that is transforming the way people travel. It offers a convenient and sustainable alternative to traditional car ownership by providing users with access to a variety of transportation options through a single platform. The market was valued at USD 141.44 Billion in 2023 and is expected to expand to USD 674.63 Billion in 2031, growing rapidly at a CAGR of 23.78% from 2024 to 2031.

Technological advancements are also propelling the MaaS market forward. The development of user-friendly platforms integrating various transportation options, like public transit, ride-sharing, and bike-sharing, is being fueled by advancements in mobile technology and data analytics.  These platforms empower users to seamlessly plan, book, and pay for their journeys while offering real-time information on traffic and pricing. The MaaS market, though young, holds the potential to revolutionize how we travel by offering a convenient, sustainable, and cost-effective solution. This could lead to reduced traffic congestion, improved air quality, and, ultimately, more livable cities.

Mobility As A Service MarketDefinition/ Overview

Mobility as a Service (MaaS) is revolutionizing urban transportation by offering a user-centric alternative to car ownership. A single MaaS platform integrates various public and private transportation providers, including public transit authorities, ride-sharing services, bike-sharing programs, and car rentals. This allows users to plan their trips seamlessly, with options for booking various modes of transport for a connected journey.  Payment is also streamlined through a unified system within the MaaS app.

How will factors like urbanization, environmental concerns, and technological advancements impact the future growth of the MaaS market globally and regionally?

The Mobility as a Service (MaaS) market is anticipated to be significantly influenced by a combination of urbanization, environmental concerns, and technological advancements on a global and regional scale. Urbanization is expected to act as a key driver. As cities grow denser, traffic congestion is likely to worsen. This will create a demand for more efficient and alternative transportation options. MaaS, with its ability to integrate various modes of transport, is expected to be particularly attractive in such circumstances.

Environmental concerns are also poised to play a significant role. Growing public awareness regarding the environmental impact of car ownership is expected to fuel the demand for sustainable solutions. MaaS, by promoting the use of public transportation, cycling, and shared mobility options, has the potential to contribute to a reduction in carbon emissions. Technological advancements are another crucial factor. The development of user-friendly MaaS platforms that seamlessly integrate various transportation options is expected to be facilitated by advancements in mobile technology and data analytics. The potential integration of autonomous vehicles with MaaS in the future could lead to even more expansive service offerings and potentially reduce reliance on personal car ownership.

The impact on global and regional growth is also expected to vary. Developed regions with existing smart city infrastructure and high smartphone penetration are likely to see faster MaaS adoption. However, developing regions experiencing rapid urbanization might also witness significant MaaS market growth as they leapfrog traditional transportation infrastructure development. Government policies promoting sustainable transportation and public-private partnerships between MaaS providers and local authorities are expected to influence regional growth patterns. Additionally, the existing public transportation infrastructure in a region will also play a role. Well-developed public transportation systems can be easily integrated into MaaS platforms, potentially accelerating adoption rates.

Will privacy concerns surrounding user data collection and integration across various transportation providers in a MaaS platform pose a threat to the market?

The potential for privacy concerns surrounding user data collection and integration within MaaS platforms is acknowledged as a threat to the market’s growth. This threat stems from a confluence of factors. Stricter data privacy regulations like GDPR and CCPA are being enforced globally. These regulations impose limitations on how companies collect, use, and store user data. MaaS platforms, by their nature, aggregate data across various transportation providers, which could trigger scrutiny from regulatory bodies.

User trust is paramount. As consumers become more aware of how their data is used, a lack of transparency from MaaS platforms regarding data collection practices can be detrimental. If users perceive excessive data collection or a lack of control over its usage, they may be hesitant to adopt MaaS altogether, hindering market growth. Finally, the integration of data from multiple sources creates a complex system that is inherently vulnerable to cyberattacks. A data breach exposing user travel patterns or personal information could be catastrophic for a MaaS platform. This could not only damage user trust but also lead to hefty regulatory penalties.

Category-Wise Acumens

How Does Widespread Adoption of Ride-hailing Service Promoting Market Growth?

The ride-hailing service segment is estimated to dominate the market during the forecast period. Ride-hailing apps provide a convenient and user-friendly way to move about. Users can request a trip from practically anywhere, at any time, eliminating the necessity for automobile ownership or dealing with public transportation timetables. This ease of use is a key driver of market adoption.

Ride-hailing services profit from significant network effects. As more people use the service, the number of drivers and transportation possibilities grows, making it even more appealing to new customers. This generates a feedback loop that drives rapid growth and market supremacy.

Furthermore, many ride-hailing applications are progressively merging with other MaaS services, such as bike sharing and public transportation. This enables consumers to smoothly transition between multiple means of transportation based on their needs, increasing the simplicity and appeal of ride-hailing as the key platform in the MaaS ecosystem.

How Does the Growth in the B2B Business Model Promote the Sales in the Market?

The B2B segment is estimated to dominate the market during the forecast period. Businesses with big vehicle fleets can greatly benefit from MaaS platforms. These platforms can combine a variety of transportation choices, such as ride-hailing, car sharing, and public transit, allowing businesses to optimize fleet usage while lowering total transportation expenses.

Companies are increasingly providing MaaS solutions as an employee benefit. This can give employees more flexible and convenient transit options for commute and business travel. Integrating MaaS systems into business travel programs simplifies expense administration and enhances employee experience.

Furthermore, B2B MaaS platforms provide useful data analytics to enterprises. This information can be utilized to determine travel trends, optimize routes, and increase overall transportation efficiency. It can also help organizations evaluate the performance of their mobility programs and make data-driven transportation budget decisions.

Gain Access to Mobility As A Service Market Report Methodology

Country/Region Wise Acumens

What are the Factors Promoting the Growth of North America in the Market?

North America is estimated to exhibit substantial growth within the market during the forecast period. North America has a high smartphone penetration rate, with a big percentage of the population comfortable utilizing mobile apps for a variety of purposes. This provides a solid platform for MaaS adoption, as most MaaS systems rely on mobile apps for booking, payment, and navigation. Furthermore, North America is a hotbed of technical innovation, with companies constantly inventing new and improved MaaS platforms and integrating them into current transportation infrastructure.

Environmental concerns and traffic congestion are pushing a movement in North America toward alternate modes of transportation. MaaS platforms that combine multiple mobility services, such as public transportation, bike sharing, and carpooling, provide a more sustainable alternative to automobile ownership. This is consistent with increased customer desire for environmentally friendly solutions.

What role can government policies and partnerships between public and private entities play in promoting MaaS adoption and infrastructure development in Asia Pacific?

Governments and public-private partnerships (PPPs) hold significant influence in promoting MaaS adoption and infrastructure development in Asia Pacific. Governments can establish clear and consistent regulations for MaaS operations, addressing data privacy, micromobility safety standards, and licensing for various transportation providers.  Financial incentives like subsidies or tax breaks for MaaS providers can be implemented to encourage investment and make MaaS services more affordable for users. Additionally, incentives promoting electric vehicle integration and shared mobility options can be explored.  Policy initiatives can prioritize integrating existing public transportation systems with MaaS platforms, potentially involving standardized ticketing systems, real-time data sharing, and infrastructure upgrades for seamless connections.

PPPs can leverage private sector funding and expertise to develop infrastructure crucial for MaaS. This includes dedicated lanes for buses and bicycles, charging stations for electric vehicles, and smart parking solutions. Collaboration between public and private entities is essential for establishing open data standards and facilitating seamless information exchange within the MaaS ecosystem.  Governments can partner with private companies to launch pilot programs for innovative MaaS solutions, providing valuable insights and testing the feasibility of new technologies and service models before widespread adoption. By working together, governments and private entities can create an environment conducive to MaaS growth in Asia Pacific. This collaboration can lead to increased MaaS adoption due to clear regulations, financial incentives, and infrastructure improvements.  Additionally, PPPs can accelerate the development of MaaS-supportive infrastructure, leading to a more efficient and integrated transportation network.  Partnerships can also foster innovation in the MaaS sector, resulting in new solutions tailored to the specific needs of Asia Pacific.

Careful consideration is required to balance promoting innovation with ensuring user safety and data privacy. Effective partnerships necessitate trust and collaboration between public and private entities that might have competing interests.  The diverse needs and infrastructure across different Asian countries necessitate a tailored approach to policy and PPP development. Through collaboration and addressing these challenges, governments and private entities can play a transformative role in shaping the future of MaaS in the Asia Pacific, fostering a more sustainable and user-centric urban mobility landscape.

Competitive Landscape

The Mobility as a Service (MaaS) market thrives on a dynamic interplay between established transit authorities, resourceful startups, and innovative technology providers. These entities offer a diverse array of integrated mobility solutions catering to the evolving needs of users seeking seamless and sustainable transportation options. Key players in the MaaS market differentiate themselves through cutting-edge technological advancements, strategic partnerships with public and private transportation providers, and a comprehensive suite of mobility services.

Some of the prominent players operating in the Mobility as a Service market include

Whim, Citymapper, Skedgo, Moovit, Moovel, Splyt, Ubigo, Qixxit, Smile Mobility, Communauto, Uber Technologies Inc., Didi Chuxing, The Hertz Corporation.

Latest Developments

• In February 2023, Uber partnered with HSBC to launch a digital payments solution for unbanked drivers in Egypt. The solution allows on-demand cashouts into mobile wallets, providing access to 100% of earnings via HSBC Net’s payment solution.
• In January 2023, DiDi partnered with Jordan Transfer Guidance to dispatch taxis on routes with the last mile in the app. This is part of Jordan’s MaaS & Tourism DX business, aiming to attract tourists from China & other countries.
• In December 2022, Moovit, a new urban mobility app, launched in Tampa. Users can plan multimodal trips, including walking, biking, scooting, driving, streetcars, or buses. The app also integrates with HART mobile ticketing. The city hopes the app will improve connectivity between modes of transportation and address gaps in transit access.

Report Scope

Mobility As A Service Market, By Category

Service Type

• Bicycle sharing
• Bus sharing
• Car sharing
• Ride-hailing
• Self-driving car service

Business Model

• B2B
• B2C
• P2P rentals

Industry Vertical

• Bikes
• Buses
• Passenger cars

Application

• Android
• iOS
• Others

Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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