Mobility as a Service (MaaS) Market Size is Projected to Reach USD 230400 Million by 2025 - Valuates Reports

Mobility as a Service (MaaS) Market Size is Projected to Reach USD 230400 Million by 2025 - Valuates Reports

PR Newswire

BANGALORE, India, Aug. 26, 2020

- The Global Mobility as a Service (MaaS) market size will reach 230400 Million USD by 2025, from 43440 million USD in 2019, at a CAGR of 32.6% during the forecast period 2020-2026

BANGALORE, India, Aug. 26, 2020 /PRNewswire/ -- The report studies and forecasts the global market status of Mobility as a Service (MaaS), classifying the Mobility as a Service (MaaS) market size ( value & volume) by key players, type, application, and region. This study focuses on the top players in North America, Europe, China, Japan, India, and other regions of Southeast Asia (the Middle East & Africa, Central & South America).

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TRENDS INFLUENCING MOBILITY AS A SERVICE MARKET SIZE

Major factors that are expected to increase the growth of Maas market size include increasing demand for MaaS among customers for better transport infrastructure, increasing demand for a one-stop solution to meet transportation service needs, and an increasing number of original equipment manufacturers ( OEMs). 

Rising mobile app adoption and increasing internet data services penetration are expected to propel the growth of the MaaS market size.

The need to improve the traffic organization is expected to fuel the growth of the MaaS market size. The advent of new technology has altered people's movement through the cities. The increase in rideshare apps, map applications, carpooling services, and the growth of autonomous vehicles shows that there is no lack of choices to reach the destination required. By adapting to a MaaS approach for transportation, the restraint on individuals to own their vehicles is reduced.

Increasing urbanization and smart city initiatives are expected to increase the MaaS market size during the forecast period. The growing number of cars used by a large portion of the urban population has led to congestion in road traffic and parking in urban areas. This has resulted in the rapid growth of regularized public transit networks. Smart cities, which need MaaS, provide more efficient, cheaper, and less costly ways to move traffic, increasing the demand for Mobility as a Service.

On the contrary, the government initiatives to encourage people to use public transport could hamper the growth of MaaS market size. MaaS infrastructure availability is another major challenge as this depends on the respective governments and their policies and willingness to implement reform. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-33X48/global-mobility-as-a-service-maas

MOBILITY AS A SERVICE MARKET SHARE ANALYSIS

Based on the region, North America is expected to hold the largest MaaS market share due to the presence of an advanced transportation system. Uber dominates North America, with a market share of over 80 percent at the end of 2016, and other companies like Lyft are increasing rapidly. Lyft held a 20 percent share in the United States in July 2017.

The Asia Pacific is expected to witness the highest growth rate during the forecast period. In China, the market is dominated by Didi Chuxing. Other small players are gradually expanding their MaaS market size through diversifying their service and competitive pricing. 

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KEY PLAYERS

MOBILITY AS A SERVICE (MASS) MARKET BREAKDOWN DATA BY TYPE

MOBILITY AS A SERVICE (MASS) MARKET BREAKDOWN DATA BY APPLICATION

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SIMILAR REPORTS :

The European region is expected to witness significant growth during the forecast period. Major players dominating the market are, 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3B301/emea-mobility-as-a-service

The global smart mobility market size was USD 34.04 Billion in 2019 and is projected to reach USD 70.46 Billion by 2027, registering a CAGR of 20.2%. 

COVID-19 pandemic has raised the demand for safe and reliable means of transportation as a result of which the need for car-sharing or carpooling has been impacted, resulting in the slow growth of the global smart mobility market.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-2B32/smart-mobility

The global ride-hailing service market size was USD 36,450.0 Million in 2017 and is projected to reach USD 126,521.2 Million by 2025, registering a CAGR of 16.5% from 2018 to 2025.

North America was the highest contributor to the global market in 2017, garnering a CAGR of 12.7% during the forecast period.

Growth in the global ride-hailing service market size is driven by growing developments in on-demand transport services, job creation opportunities, and low car ownership rates among millennials. Furthermore, the developments in connected & automated vehicles to minimize CO2 emissions and significant increases in sales of such vehicles for ride-hailing services drive the growth of the market.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-3H343/ride-hailing-service

The global car-sharing market size was 33.5 Billion USD in 2018 and will reach 103 Billion USD in 2025, with a CAGR of 17.2% during the forecast period.

This report focuses on global Car-Sharing status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Car-Sharing development in the United States, Europe, China, Japan, Southeast Asia, India, Central & South America, and Other Regions.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1A197/global-car-sharing

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