Mobility as a Service Market Research Report

Mobility as a Service Market Size:

The global mobility as a service market size reached US$ 5.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 50.5 Billion by 2032, exhibiting a growth rate (CAGR) of 26.58% during 2024-2032. The market is experiencing steady growth driven by the growing implementation of stringent regulations associated with sustainable transportation, increasing innovations in ridesharing apps, and rising environmental awareness and the pressing need for sustainability among the masses.

Mobility as a Service Market Analysis:

• Market Growth and Size: The mobility as a service (MaaS) market is experiencing robust growth, driven by increasing urbanization and the need for efficient transportation solutions.
• Major Market Drivers: Key drivers include urbanization and congestion mitigation, advancements in technology, environmental concerns and sustainability, and government support for integrated transportation systems.
• Technological Advancements: Innovations are playing a pivotal role in the growth of market with mobile apps making multi-modal transportation accessible and user-friendly. Investments in data analytics and artificial intelligence (AI) are enhancing user experience and optimization.
• Industry Applications: MaaS is being used across various sectors, including public transportation, ride-hailing, ride-sharing, and micro-mobility, offering diverse mobility solutions to urban and suburban users.
• Key Market Trends: Key trends include the integration of electric and autonomous vehicles, partnerships with public transit agencies, and the expansion of micro-mobility options like e-scooters. MaaS providers are also focusing on sustainability and reducing emissions. 
• Geographical Trends: North America leads the market due to its adoption of sustainable transportation solutions. However, Asia Pacific is emerging as a fast-growing market driven by the availability of diverse transportation options.
• Competitive Landscape: Key players are diversifying their services, investing in electric and autonomous vehicles, and forming partnerships to offer comprehensive MaaS solutions. The industry is competitive, with startups also making significant strides.
• Challenges and Opportunities: Challenges include regulatory complexities, infrastructure development, and changing user preferences. Nonetheless, opportunities in addressing these challenges and expanding into emerging markets while promoting sustainable and efficient transportation solutions are projected to overcome these challenges.

Mobility as a Service Market Trends:

Urbanization and Congestion Mitigation

Metropolitan areas are facing unprecedented challenges related to traffic congestion, pollution, and limited transportation infrastructure. Urban areas are becoming more densely populated, leading to increased traffic on already congested roadways. This phenomenon is creating a pressing need for innovative solutions to alleviate congestion and improve mobility for urban residents. Mobility as a service (MaaS) is emerging as a strategic solution to address these challenges. By offering a comprehensive, integrated approach to transportation, MaaS streamlines the mobility experience for urban dwellers. It combines various transportation modes, including public transit, ridesharing, car rentals, and bike-sharing, into a single platform accessible through mobile apps. This integration not only provides commuters with more convenient options but also reduces the number of private vehicles on the road, contributing to reduced congestion. Moreover, MaaS encourages the use of public transportation, which is often underutilized in favor of personal vehicles. As more people embrace MaaS platforms, public transit systems experience increased ridership, leading to improved efficiency and reduced traffic congestion. MaaS also promotes the use of shared mobility services, such as carpooling and ridesharing, further reducing the number of vehicles on the road during peak hours.

Advancements in Technology

The rapid advancements in technology, particularly in the realm of mobile applications and connectivity, have played a pivotal role in driving the MaaS market. These technological developments are transforming the way people plan, book, and utilize transportation services, making MaaS more accessible and attractive to a wider audience. Smartphones are becoming ubiquitous, with a vast majority of the population carrying these powerful devices. This widespread adoption is allowing MaaS providers to develop user-friendly mobile applications that serve as central hubs for accessing various transportation options. Users can seamlessly plan multi-modal journeys, book tickets or rides, and make payments through these apps. The real-time data capabilities of modern smartphones are also enhancing the MaaS experience. Users can receive up-to-the-minute information on transit schedules, traffic conditions, and ride availability, enabling them to make informed decisions and reduce waiting times. This real-time data exchange is critical for the successful operation of MaaS systems, as it ensures the reliability and convenience that users demand. Furthermore, the growth of the internet of things (IoT) is facilitating the integration of smart devices with MaaS platforms.

Environmental Concerns and Sustainability

Environmental concerns and the pressing need for sustainability are becoming crucial factors behind the growing demand for MaaS solutions. With the recognition of the adverse impacts of excessive car usage, such as air pollution and greenhouse gas emissions, individuals and governments alike are seeking alternatives that reduce the carbon footprint of transportation.

MaaS promotes sustainability in several ways. It encourages the use of public transportation as a primary mode of commuting. Public transit systems are typically more energy-efficient and emit fewer emissions per passenger mile compared to private vehicles. By making public transit more accessible and user-friendly, MaaS helps increase its utilization, thereby reducing the number of single-occupancy cars on the road. MaaS platforms integrate various modes of shared mobility, such as ridesharing and carpooling. These services optimize vehicle occupancy, reducing the overall number of vehicles needed for transportation. Fewer vehicles on the road translate to decreased traffic congestion and lower emissions, contributing to cleaner air and a smaller carbon footprint. Additionally, MaaS providers often emphasize the inclusion of electric and hybrid vehicles within their fleets. This shift toward cleaner, more sustainable transportation options aligns with global efforts to combat climate change and reduce the reliance on fossil fuels.

Mobility as a Service Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on service type, transportation type, application platform, and propulsion type.

Breakup by Service Type:

• Ride-Hailing
• Ride-Sharing
• Car-Sharing
• Bus/Shuttle Service
• Others
   

Ride-hailing accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the service type. This includes ride-hailing, ride-sharing, car-sharing, bus/shuttle service, and others. According to the report, ride-hailing represented the largest segment.

Ride-hailing services revolutionized urban transportation by offering users the convenience of booking rides on-demand through mobile apps. One of the primary reasons for their popularity is the seamless experience they provide. Passengers can track their rides in real-time, know the fare upfront, and pay electronically. Furthermore, ride-hailing services often offer a diverse fleet, including standard sedans, sports utility vehicles (SUVs), and environment friendly options like electric and hybrid vehicles, catering to varying preferences and environmental concerns. With their extensive reach, ride-hailing companies are transforming the way people move within cities, reducing the reliance on personal vehicles and promoting shared mobility.

Ride-sharing services focus on carpooling and sharing rides with others traveling in the same direction. This segment promotes efficient use of vehicles and reduces the environmental impact of transportation. Ride-sharing aligns with environmental goals and offers a sense of community by encouraging passengers and drivers to share their journeys, making efficient use of vehicles, and promoting responsible mobility.

Car-sharing services introduce a flexible approach to urban mobility, allowing users to rent vehicles by the hour or minute when needed. Companies operate in this segment, providing access to a variety of vehicles on a pay-as-you-go basis. Car-sharing is ideal for individuals who do not require a car full-time but still need occasional access to one. This segment promotes the efficient utilization of vehicles, reducing the number of cars on the road and contributing to reduced congestion and emissions in urban areas.

Public transit agencies partnering with MaaS providers and private shuttle services are pivotal components of the MaaS ecosystem. These services offer scheduled routes, reliability, and cost-effectiveness for daily commuters and event transportation. Bus and shuttle services provide a critical backbone to the MaaS network, connecting passengers to key transit hubs and complementing other mobility options. They are particularly important for mass transit and large-scale events, ensuring that users have convenient and efficient transportation choices.

Breakup by Transportation Type:

• Private
• Public
   

Private holds the largest share in the industry

A detailed breakup and analysis of the market based on the transportation type have also been provided in the report. This includes private and public. According to the report, private accounted for the largest market share.

Private transportation, which includes personal cars, taxis, and ride-hailing services, stands as the dominant segment in the MaaS market. This segment appeals to individuals seeking convenience, privacy, and flexibility in their daily commute or travel. Personal cars offer the utmost autonomy, allowing users to travel at their own pace and on their preferred routes. Taxis, on the other hand, offer on-demand private transportation, while ride-hailing services combine the convenience of taxi services with the benefits of mobile technology. The allure of private transportation lies in its ability to provide door-to-door service, catering to the specific needs and preferences of users. It is particularly popular in regions with limited or less developed public transportation infrastructure.

Public transportation encompasses buses, trams, subways, trains, and other communal modes of transit. This segment caters to individuals who prioritize cost-effective and sustainable mobility solutions. Public transit is often seen as an environment friendly option, as it encourages the use of shared vehicles and reduces the carbon footprint associated with private transportation.

Breakup by Application Platform:

• Android
• iOS
• Others
   

Android represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application platform. This includes android, iOS, and others. According to the report, android represented the largest segment.

Android is the dominant platform in the MaaS market, accounting for the largest user base. This segment is characterized by the widespread availability of MaaS applications on the android operating system. Android has an open-source nature and its broad adoption across various smartphone manufacturers is contributing to its popularity. MaaS providers prioritize developing and optimizing their applications for android devices, ensuring seamless access to mobility services for a vast user demographic. The android segment benefits from the flexibility and customization options that android offers, enabling MaaS providers to offer a diverse range of features and integration possibilities, making it a go-to choice for the majority of users.

The iOS platform, used exclusively by Apple devices, represents another significant segment within the MaaS market. MaaS providers recognize the importance of catering to iOS users and develop dedicated applications that provide a seamless and user-friendly experience. iOS users often expect a high level of quality and security from their applications, which is leading to the development of robust and feature rich MaaS apps on the iOS platform.

Breakup by Propulsion Type:

• Electric Vehicle
• Internal Combustion Engine
• Others
   

Internal combustion engine exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the propulsion type have also been provided in the report. This includes electric vehicle, internal combustion engine, and others. According to the report, internal combustion engine accounted for the largest market share.

Internal combustion engine vehicles, powered by gasoline or diesel fuel, represent the dominant segment in the MaaS market. This segment includes traditional cars, taxis, and some ride-hailing services that rely on conventional combustion engines. Internal combustion engines still have a substantial presence in the market, particularly in regions with well-established infrastructure and user preferences for conventional vehicles. Their widespread availability and ease of refueling contribute to their continued prominence within the MaaS ecosystem.

The electric vehicle (EV) segment is rapidly gaining momentum as an alternative propulsion type within the MaaS industry. EVs, which run on electricity stored in batteries, offer significant environmental benefits by producing zero tailpipe emissions. This segment includes electric cars, e-scooters, and e-bikes integrated into MaaS platforms. EVs are particularly appealing to environmentally conscious individuals and regions with strong commitments to reducing carbon emissions.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Europe leads the market, accounting for the largest mobility as a service market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

The Europe mobility as a service (MaaS) market is driven by the presence of well-established and efficient public transportation networks in many European cities. Europe has been at the forefront of promoting sustainable and integrated transportation systems. Governments and regulatory bodies have been actively supporting MaaS initiatives by providing incentives, subsidies, and favorable regulations to encourage the adoption of shared mobility and environment friendly transportation.

North America maintains a strong presence driven by the growing interest in MaaS as a means to reduce traffic congestion and promote eco-friendly transportation options.

Asia Pacific stands as another key region in the market, driven by the presence of a diverse mobility ecosystem, including well-established public transit systems, bike-sharing services, and emerging electric scooter rentals.

Latin America exhibits growing potential in the MaaS market, fueled by the increasing emphasis on sustainability and reducing emissions.

The Middle East and Africa region show a developing market for MaaS, primarily driven by the launch of policies and initiatives to modernize transportation systems and reduce reliance on personal vehicles.

Leading Key Players in the Mobility as a Service Industry:

Key players in the mobility as a service (MaaS) market are actively pursuing various strategies to stay competitive and expand their influence in the rapidly evolving mobility landscape. Leading companies are focusing on diversifying their service offerings beyond traditional ride-hailing. They are investing in electric and autonomous vehicles, aiming to reduce environmental impact and enhance safety. Furthermore, MaaS providers are forging partnerships with public transit agencies to integrate their services, making it easier for users to access multi-modal transportation options through a single platform. Top companies are also exploring micro-mobility solutions, such as e-scooters and e-bikes, to offer users even more choices for short-distance travel. Additionally, they are investing in data analytics and artificial intelligence to optimize route planning, pricing, and user experience, all while adhering to evolving regulatory frameworks to ensure compliance and safety.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Citymapper
• Communauto Inc.
• DiDi Chuxing Technology Co.
• Europcar Mobility Group
• Gett Inc.
• Lyft Inc.
• Moovit Inc. (Mobileye Global Inc.)
• Ola Cabs (ANI Technologies Private Limited)
• Shuttl (Super Highway Labs Pvt. Ltd.)
• SkedGo Pty Ltd
• Splyt Technologies Ltd.
• Uber Technologies Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• October 2023: Communauto Inc. and Modulauto announced a strategic partnership to accelerate round-trip car-sharing development in Occitania and Île-de-France.
• March 2022: Europcar Mobility Group becomes the first mobility service company to have its ambitious carbon reduction objectives approved by the Science Based Targets initiative (SBTi).

Mobility as a Service Market Report Scope:

Key Questions Answered in This Report:

• How has the global mobility as a service market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global mobility as a service market?
• What is the impact of each driver, restraint, and opportunity on the global mobility as a service market?
• What are the key regional markets?
• Which countries represent the most attractive mobility as a service market?
• What is the breakup of the market based on the service type?
• Which is the most attractive service type in the mobility as a service market?
• What is the breakup of the market based on the transportation type?
• Which is the most attractive transportation type in the mobility as a service market?
• What is the breakup of the market based on the application platform?
• Which is the most attractive application platform in the mobility as a service market?
• What is the breakup of the market based on the propulsion type?
• Which is the most attractive propulsion type in the mobility as a service market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global mobility as a service market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the mobility as a service market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global mobility as a service market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the mobility as a service industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.