Mobility as a Service Market Trends, Opportunities, Challenges, Profits, Revenue Forecast, Competitive Landscape, Strategies, Statistics and Impact of COVID-19

Market Highlights

Mobility as a Service (MaaS) is refer to a service that bring different mode transportations (train, bus, airline, taxi and others) under the single mobility service. That can be accessible on demand, for traveling from one point to another. The users with compatible apps can book there prefer way of transport mode to reach their location. This service is also focusing on regions or area where, door to door transport service are not available.

MaaS is whole new concept it will revolutionize the transportation sector across the globe. To achieve this goal, follwing factor will play major role first the penetration of smartphones globally, strong connectivity (5G, 4G, and 3G), up to date database, and most important security. Thus, MaaS will be a great alternative for private cars and eco-friendly ride.

MaaS has created new opportunities for many small and big business apart from being alternative option and pollution free ride.  In view of this growth, ‘Market Research Future’ recently gave out the market insights till 2023. According to this MRFR analysis, the global mobility market is set to witness huge growth during the forecast phase. The industry will excel further in regard to market volume.

Drivers:

Transportation sector is one of biggest consumer market. The consumers are spending huge amount for traveling or reaching particular location. Same with smartphones and smart devices, each passing year penetration level is increasing. The player across globe, focusing on enhancing the consumers lives. ‘Pop -up-bus service’ is one trending concept, the bus with advance technology, big displays, and wi-fi enable functionality.

Bus study the demographic data collected from Google earth and various other sources and guide the driver & passengers like what is current location, where they are heading, traffic alert and numbers of passengers in bus and others. Service like this, will drive the growth of mobility as a service market.

Going further, there are possibility that MaaS may associate with self-drive car. Countries like Singapore, Pittsburgh and Japan among others are who have taken initiative and started their experiment for driver-less cabs. The Japan is experimenting on self-drive buses as 2020 Olympic event is near about.

On other side, MaaS is at initial level of development and many of them are still not aware about this idea, this may hold the market growth.

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Segmentation:

The Mobility as a Service industry is segmented by online mobility systems, services, end-users, and region. The online mobility system is sub-segmented into bus, cab, flight. Service by E-hailing services, bike sharing, car sharing, pop up bus services, self-driving car. Out of this car sharing will lead the market. End users divided by public and private sectors. 

The regional analysis of market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is leading the market due to technological advancements in transportation systems. Followed by Europe, it is predicted that during forecast period market for this region will grow rapidly. Asia-Pacific will show fair growth as concept is still emerging in this region, but it will grow strongly in coming years.

Regional Analysis:

Region-specific approach to analyze the Mobility as a Service market includes namely North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).

Europe is registering significant growth in the MaaS market. Germany, Finland, the U.K., and France are countries that are contributing substantially to the regional market growth. These nations are also benefitting more than the rest reaping the best of the beginner’s charm.

The APAC market is huge with Hong Kong, Australia, China, New Zealand, India, Japan, Malaysia, Taiwan, Singapore, and South Korea joining the bandwagon. A considerable increase in the number of urban population index, are growing disposable income boosting the market. Furthermore, the concept of car sharing is picking up the pace which is also helping the market score more in terms of revenue. China is doing remarkably good. Smartphone user’s number is quite high in China and India which is helping people in getting the MaaS at their fingertip.

Competitive Analysis:

The MaaS market is getting benefitted from strategic developments integrated and implemented by major market players. These tactical moves include merger, acquisition, new product launch, research and development, and other methods that take the individual companies ahead in sync with the market expansion.

Ola, in 2018, has taken several steps such as the acquisition of Ridlr, a ticketing app to strengthen their mobility platform with public transportation infrastructure.

Latest news reveals that Uber is in talks with Careem for a big acquisition. Careem is Uber’s biggest Middle East competitor. This acquisition would help Uber in expanding their market reach.

MaaS Global has recently secured a USD 10 million fund to expand their region-based operation in Finland, as well as, in other countries. Their app Whim is the world’s first mobility service provider.

Some of the key players of Mobility as a Service market include BMW Group (Germany), Alliance Corporation (Canada), Apple Inc. (U.S.), Xerox Corporation (U.S.), Lyft, Inc.(U.S.), Uber Technologies Inc. (U.S.), MaaS Global (Finland), Deutsche Bahn (Germany), Daimler AG (Germany), Communauto (Canada), Car2go (U.S.), Hailo (U.K.), Bridj (U.S.), Ola (India), Ridepal (U.S.), Make My Trip (India), and others.

Trends:

2018- Toyota market leader in automobile sector, reveals their self-driving mix hybrid mobility known as “e-Palette”. The new vehicle can be used in different business such as ride-sharing, pizza delivery, transporting good & packages, etc. As per makers, e-Palette platform will be the backbone for mobility as a service, in coming years.

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