Report : Mobility as a Service (MaaS) Market to 2025 - Global Analysis and Forecasts by Service Type (Self-driving Car Service, Ride-Hailing, Car Sharing, Bi-Cycle Sharing and Bus Sharing); Application Platform (Android and iOS); Business Model (B2B, B2C and P2P); & Vehicle Type (Passenger Cars, Bike and Bus)
According to the new research report published by The Insight Partners, titled “Mobility as a Service (MaaS) Market - Global Analysis and Forecast to 2025”, the global Mobility as a Service (MaaS) market is expected to reach US$ 476.34 Bn in 2025, registering a CAGR of 36.4% during the forecast period 2018 to 2025.
By 2025, APAC is estimated to be the fastest growing region during the forecast period globally.
Before the advent of an integrated Mobility as a Service market, the mobility market across the globe was fragmented with multiple applications running for different services and vehicle types. Lack of proper available information, integration expertise and inferior user experience has had a further large impact on the mobility infrastructure. In such a scenario of rising disparities and growing inconsistencies a need for a more integrated and holistic approach towards the transportation modes has become the need of hour. Accordingly, a multi-modal transportation system offering a large spectrum of transportation services has emerged. MaaS has put travelers and goods at the core of transport services that offer tailor-made mobility solutions fulfilling the various individual needs.
The market for MaaS is influenced by various factors such as rapid urbanization leading to increased pressures on the transportation infrastructure, demand for a one-stop solution fulfilling seamless transportation service needs, and proliferation of large number of OEMs into the MaaS market. These factors are heavily impacting on the growth of MaaS market during the forecast period. However, the deterrent factors, affecting the market growth are the apprehensions about seamless connectivity amongst the various stakeholders involved in the MaaS ecosystem, and huge initial investments and the lack of availability of technological expertise. Nonetheless, advancing technological infrastructure and ease of access to data worldwide, is anticipated to boost the adoption of MaaS application tool among consumers, resulting in market growth. Furthermore, future trends such as convergence of various transport chains forming a holistic transport service ecosystem, and increasing self-driving cars in the developed nations are expected to contribute to the growth of MaaS market in the near future
The mobility as a service (MaaS) market in Asia Pacific is expected to grow at a CAGR of 38.9% during the forecast period 2018 – 2025. The need for implementation of intelligent transport solutions in the Asia Pacific region is very high that also includes improved infrastructure in transportation system. Rising needs of mobility systems are fully utilized in APAC region including Hong Kong, Australia, China, New Zealand, India, Japan, Malaysia, Taiwan, Singapore, and South Korea. Market of MaaS in APAC region is gaining momentum with growing disposable income and urban population, boosting the market domestically and regionally. Implementation of ride-hailing services is getting adopted rapidly in the developing countries. In Asia Pacific, market penetration for car sharing services is high because of large number of potential users. In forthcoming period, car sharing has a possibility to contribute towards growing transport needs in APAC region. Moreover, for better execution of MaaS, adoption of private vehicles instead of public transport to provide more benefits in ridesharing services. To drive the Maas market, combination between ridesharing platforms and support from regulators is required to achieve significant gain as market for MaaS is expected to grow more for private car ownership.
Key findings of the study:
The mobility as a service (MaaS) market has been segmented on the basis of service type into self-driving car service, ride-hailing service, car sharing service, bi-cycle sharing service and bus sharing services. Based on application platform the market is categorized as android, iOS, and others. On basis of business model, the mobility as a service (MaaS) market is classified as B2B, B2C, and P2C. Also, the market is segmented based on vehicle type as passenger cars, bike, and bus. On the basis of geography, the mobility as a service (MaaS) market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
Some of the leading companies in the market are includes Lyft, Inc., Uber Technologies, Inc., Moovel Group GmbH, Beeline Singapore, Whim App (MaaS Global Oy), Splyt Technologies Ltd., Qixxit, UbiGo AB, Tethys Technology, Inc., Smile Mobility, SkedGo Pty Ltd, Transit Systems Pty Ltd., Citymapper, and among others.
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