Mobility-as-a-Service Market Report: By Service Type (Ride Hailing, Ride Sharing, Micromobility, Car Rental, Shuttle Service), Vehicle Type (Two-Wheeler, Car, Bus), Commuting Pattern (Daily Commuting, Last-Mile Connectivity, Occasional Commuting), End Use (Personal, Business), Payment Type (Short-Term Subscription, Pay-as-You-Go), Propulsion Type (Electric, ICE) – Global Industry Latest Trends and Demand Forecast to 2030

Market Overview

The mobility-as-a-service market size was valued at $128,489.2 million in 2021, and it is projected to foster at a CAGR of 16.8% during 2021–2030. The growing concerns over greenhouse gas emissions, urban road congestion issues, cost-effectiveness and convenience of MaaS, and rising government initiatives are facilitating the adoption of MaaS, which is likely to behold the market progress.

Furthermore, the increasing pace of urbanization in developing countries, for instance, 68% of the global population would live in cities by 2050, is predicted to worsen traffic congestion on roadways in the near future. MaaS would help to alleviate traffic congestion by effectively utilizing existing public and private transportation infrastructure. Despite spending more than $500 billion on a strategy to widen and develop new roadways around the country, according to research issued in 2020 by Transportation for America, congestion in metropolitan areas rose by 144% between 1993 and 2017.

The COVID-19 pandemic adversely affected the mobility-as-a-service market. With the implementation of lockdowns and social distancing regulations, worldwide, the need for mobility services reduced significantly, except for emergency purposes. With nearly zero public movements, the market growth was severely hit.

Ride Hailing Category Dominates the Market

The ride hailing category held the largest market share, of more than 50%, in 2021. The expansion in the travel and tourism industry across the world and the shift from conventional offline systems to online systems are boosting the demand for ride hailing services.

Moreover, the micromobility category is expected to witness the fastest growth in the forecast period. Local travel habits are rapidly shifting in response to steps to manage the COVID-19 disease, such as shelter-at-home directives. Since the beginning of the epidemic, average micromobility journey distances have increased by 26%, with rides in major places, such as Detroit, increasing by up to 60%. Some towns are also witnessing a shift in consumer use cases on a more specific level. In San Francisco, for example, the lockdown has resulted in a significant shift toward excursions to the pharmacy and to eateries to pick up food.

Daily Commuting Category Will Witness the Fastest Growth

The daily commuting category held the majority of the market share in 2021, and it is also expected to grow at the highest growth rate, of more than 17%, in the years ahead. The market growth in this category can be mainly attributed to the increasing demand for shared mobility services among the young population, such as students and young professionals, for meeting their daily commuting needs. Additionally, several initiatives aimed at reducing the number of private vehicles on roads are expected to encourage the use of shared mobility among people.

Car Category To Lead the Market in the Forecast Period

The car category held the leading market share in 2021. The early introduction of car rental and carsharing services is the primary factor behind the market domination of this category. In addition, the developed value chain and regulatory support in various countries have supported the demand for car rental and carsharing services.

Explore more about this report - Request free sample pages

Electric Propulsion Type Will Grow at a Healthy Growth Rate

The electric propulsion category is expected to grow at the highest CAGR, of over 40%, in the coming years, owing to the surging need for electrification of transport systems. Moreover, the mobility-as-a-service market has been rapidly incorporating electric vehicles, since the demand for EVs has increased globally.

Pay-as-you-Go Payment Type Apprehended the Major Market Stake

The pay-as-you-go payment type held the majority of the market share in 2021. People prefer to pay once while availing of the services, due to their budget constraints. A customer does not need to commit to a prescribed plan and gets charged on a monthly or yearly basis by using this payment model.

Demand for MaaS for Personal Use To Witness Fastest Growth

MaaS utilized for personal use accounted for a larger share in 2021, and the market in this category will grow at a higher CAGR in the foreseeable future. The majority of the customers use shared mobility services for personal work, which may include going to the workplace, running errands such as grocery shopping, and undertaking short trips such as escorting someone to the airport.

APAC Is the Principal Revenue Generator in the Market

In 2021, APAC held the largest share, around 40%, in the global mobility-as-a-service market. Among all the countries around the world, China continues to remain the largest market for shared mobility services. In 2021, several cities across China increased the usage of EVs across various service platforms, to promote a greener environment. With continuous support from the government in the form of policies and incentives, the market in China is expected to demonstrate robust growth in the near future.

In addition, in the region, last-mile delivery is undergoing a big transformation. The increased need for faster delivery times from an ever-increasing number of online buyers is propelling this business in a new direction.

Growing Concerns over Greenhouse Gas Emissions To Propel the Market Growth

The growing environmental concerns, especially as a result of a faster rate of environmental degradation and ozone layer depletion, are propelling the industry globally. Environmental authorities' concerns about air quality degradation caused by rising car exhaust gases are paving the way for a variety of governmental initiatives worldwide, including strict emission control policies. These programs are supplemented by major players, who aimed at lowering private vehicle ownership. Therefore, it has become one of the powerful strategies against pollution's negative effects on the environment. Thus, this factor propels the demand for MaaS.

Moreover, governments of several nations throughout the world are working to raise awareness about sustainable transportation systems and to adopt low- and zero-emission vehicles. To provide an emission-free ecology, vehicles offered for mobility services under these systems are generally powered by electric motors that meet environmental criteria.

Urban Road Congestion Issues Drive the Market

The mobility-as-a-service market is also driven by urban road congestion issues. The growing population of major cities throughout the world has resulted in a rise in daily commuters, causing substantial traffic congestion, particularly during peak hours. In order to fight this problem, some governments are attempting to develop alternate mobility options. People prefer personal vehicles over public transit in the absence of an efficient public transportation system, exacerbating the problem. This scenario is a primary driving force for the MaaS business all over the world. Several countries are encouraging everyday commuters to use shared mobility services in order to reduce the number of vehicles on the road. Thus, with the growing population in metropolitan areas, more efficient modes of transportation, such as MaaS, are becoming popular, especially for short distances.

Market Players Are Involved in Partnerships and Collaborations to Gain a Significant Position

Key players in the industry have been highly involved in partnerships and collaborations to meet the competitive edge in the market. For instance:

• In October 2021, Moovit App Global Ltd. and Bird Rides Inc. partnered to offer multimodal transportation services via EVs in 65 cities across 12 countries, namely, Austria, Belgium, France, Germany, Israel, Italy, Norway, Portugal, Spain, Sweden, Switzerland, and the U.K., with further plans to include U.S. cities.
• In September 2021, Sixt SE and Mobileye, a subsidiary of Intel Corporation, announced their collaboration to offer a driverless robotaxi service in Munich, Germany. The company also aspires to scale driverless ride-sharing services across Germany and other European countries later this decade.

Key Players in the Market Are:

• ANI Technologies Pvt. Ltd.
• Lyft Inc.
• Uber Technologies Inc.
• Beijing Xiaoju Technology Co. Ltd.
• Grab Holdings Inc.
• Hertz Global Holdings Inc.
• Avis Budget Group Inc.
• Enterprise Holdings Inc.
• Europcar Mobility Group S.A.
• Sixt SE

Market Size Breakdown by Segment

The report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.

Based on Service Type

• Ride Hailing
• Ride Sharing
• Micromobility
• Car Rental
• Shuttle Service

Based on Vehicle Type

• Two-Wheeler
• Car
• Bus

Based on Commuting Pattern

• Daily Commuting
• Last-Mile Connectivity
• Occasional Commuting

Based on End Use

• Personal
• Business

Based on Payment Type

• Short-Term Subscription
• Pay-as-You-Go

Based on Propulsion Type

• Electric
• Internal Combustion Engine (ICE)

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • U.A.E.