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