Latin America (LATAM) Mobility as a Service (MaaS) Market Overview
The Latin American (LATAM) mobility as a service (MaaS) market is expected to witness considerable growth during the forecast period (2020–2030), on account of the rapid urbanization and growing population, coupled with a substantial rise in venture capital investments in the MaaS startups companies in the region.
Based on service type, the LATAM mobility as a service (MaaS) market has been categorized into bike sharing, ride sharing, ride hailing, carsharing, car rental, and shuttle service. During the forecast period, the car rental category is expected to maintain its dominance on the market, as a result of the continuously expanding travel and tourism industry, with a rise in the number of tourist arrivals in the region. According to the World Bank’s data, international tourism (number of arrivals) grew to 6.58 million in 2017 from 4.80 million in 2010, in Brazil. The ride hailing category is expected to witness the fastest growth over the forecast period.
Based on vehicle type, the Latin America mobility as a service market has been categorized into two-Wheeler, car, and bus. During the forecast period, the market is projected to witness the fastest growth in the two-wheeler category. One of the major trends in the region is the rising popularity of kick scooters among the customers of bike sharing services. Moreover, major global players, including Uber Technologies Inc. and Didi Chuxing Technology Co., are expanding and investing heavily in the LATAM region. For instance, in August 2019, Uber (ride hailing company) introduced a new electric bicycle rental system in Mexico City, through the Uber Jump application. In addition, many countries of the LATAM region, such as Brazil and Mexico, are witnessing rapid urbanization, coupled with the rising internet penetration, which is expected to support the market growth of the car and bus categories during the forecast period.
Geographically, Brazil is expected to dominate the Latin America mobility as a service market during the forecast period. The booming population and internet and mobile phone penetration are expected to further fuel the market progress in the country. Countries of the region such as Brazil and Mexico are densely populated and have been witnessing a high rate of urbanization, which has contributed significantly toward the rise in traffic congestion. Therefore, the market and shared mobility service providers in the region have a great potential for growth.
LATAM MaaS Market Dynamics
Drivers
The LATAM MaaS market is expected to witness significant growth during the forecast period, mainly due to the increasing investments by the global players, in the LATAM region. For instance, in January 2018, Didi Chuxing Technology Co. announced the acquisition of 99, a Brazilian ride hailing app. The acquisition builds upon the deep existing partnership between DiDi and 99, to further accelerate the market growth in the LATAM region. Moreover, the ample opportunities for different mobility service providers, to expand their business in the region, coupled with the evolution of mobility, as an ecosystem, is further expected to boost the market growth during the forecast period.
Restraints
Factors such as stringent government regulations and issues related to passenger safety might hinder the LATAM mobility as a service market growth over the forecast period. MaaS providers have been continuously struggling with safety issues, and many consumers have accused these ride hailing service providers of misconduct on various grounds. Moreover, players such as Uber have also been hit with litigations alleging that their hiring process and background checks are inadequate, thereby creating a negative brand image in the minds of customers.
LATAM MaaS Market Competitive Landscape
The LATAM mobility as a service (MaaS) market is concentrated, with the presence of many global and few regional players. Some of the major companies operating in the market are Uber Technologies Inc., Didi Chuxing Technology Co., Tembici, Grin Scooters SAPI de CV, Maxi Mobility S.L. (Cabify), Neutron Holdings Inc. (Lime), Bird Rides Inc., Comuto SA (BlaBlaCar), and TAXIMO SAS.
The report includes a country-wise market analysis. Some of the major countries covered in the report are Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Ecuador.
Latin America Mobility as a Service Market Size Breakdown by Segment
The Latin America Mobility as a Service Market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Service Type
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Bike Sharing
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Ride Sharing
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Ride Hailing
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Carsharing
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Car Rental
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Shuttle Service
Based on Vehicle Type
Based on Commuting Pattern
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Daily Commuting
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Last-Mile Connectivity
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Occasional Commuting
Based on End Use
Geographical Analysis
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Brazil
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Mexico
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Argentina
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Colombia
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Chile
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Peru
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Ecuador
