Global Demand of Mobility as a Service in Market - Business Revenue Forecast
In 2018, the mobility as a service (MaaS) market
generated a revenue of $171.5 billion and is expected to reach $347.6 billion
in 2024, advancing at a 11.9% CAGR during the forecast period (2019–2024). The
market is growing due to the increasing concerns regarding greenhouse gas
emissions, urban road congestion, cost-effective and convenient mobility
option, and supportive government initiatives for facilitating the adoption of
MaaS. The integration of different transport services in one single mobility
offer, with active mobility and an efficient public transport system as a basis
is referred to as MaaS.
In terms of service type, the mobility as a service market is categorized into shuttle service, bike sharing, car rental, ride
sharing, carsharing, and ride hailing. Out of these, the car rental category
dominated the market during the historical period (2014–2018) and is projected
to hold the largest share of the market during the forecast period as well.
This is because of the growing travel & tourism industry across the globe
across the globe. The shuttle service category is predicted to grow at the
fastest pace during the forecast period.
When commuting pattern is taken into consideration, the mobility
as a service market is divided into occasional commuting, daily commuting,
last-mile connectivity, and others (which include use of business-class
transport by executives and luxury vehicles by individuals for their
vacation/trips). Among these, the daily commuting division held the largest
share of the market during the historical period and is further expected to
retain its position during the forecast period. The reason for this is the
growing demand for shared mobility services among the younger population for
meeting their daily commuting needs.
The surging concerns regrading greenhouse gas emissions is a
key driving factor of the mobility as a service market. The rapid
environmental degradation due to the depletion of ozone layer is resulting in
the rising concerns toward environmental protection. Environmental agencies are
particularly getting concerned regarding the surging amount of exhaust fumes
from vehicles. In order to take care of this situation, different countries are
formulating strict regulations, attributed to which the government is taking
several initiatives to encourage the adoption of MaaS, as it could help reduce
the number of vehicles on the road.
Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/maas-market/report-sample
The deployment of electric fleet in mobility services is a
key trend being witnessed in the mobility as a service market. In
addition to taking initiatives for encouraging the adoption of shared mobility
services, governments and companies are also focusing on introducing electric
vehicle fleets for mobility services. For example, in 2018, Volkswagen AG
announced regarding the launch of an all-electric carsharing service under the
brand name WeShare, by the second quarter of 2019. The fleet would include
1,500 Volkswagen e-Golf and 500 Volkswagen e-up! in the later part of the year.
The introduction of autonomous vehicles in MaaS is predicted
to create wide opportunities for the players operating in the mobility as a
service market. Autonomous taxis are expected to offer ride sharing
services at much lower costs, attributed to the higher utilization rates as
compared to mobility services which are currently present. This will further result
in the shifting interest of consumers from buying personal vehicles and adopt
autonomous MaaS.
Hence, the market is growing considerably due to the
increasing concerns about greenhouse gas emissions.
Comments
Post a Comment