In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSAugust, 2021: Moovit Inc. to collaborate with Spin e-scooters, subsidiary of Ford Motor Company for its MaaS services in the UK, Spain and Germany.
The global mobility-as-a-service (MaaS) market is estimated to grow at a CAGR of ~30% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing need for transportation for the public, for various purposes, such as, commuting to work, out of station travels, and others. Increasing adoption of public transportation is one of the major factors estimated to boost the growth of the market. Owing to the growing urbanization, more people are migrating to cities, which is estimated to generate demand for efficient transport system for the growing urban population. According to the United Nations Population Division around 56.15% of the world population lives in urban areas in 2020, which is expected to increase to 68% by 2050. Furthermore, growing penetration of Internet of Things (IoT), is expected to fuel the market growth. Along with this, evolving urbanization, with the introduction to smart cities, is also estimated to play crucial role in the market growth.
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The market is segmented by service into car sharing, self-driving, e-hailing, bus sharing, and others, out of which, the e-hailing segment is anticipated to hold the largest share in the global mobility-as-a-service (MaaS) market over the forecast period on account of increasing penetration of internet and software that allow passengers to hail online mobility services. Moreover, this is convenient, time saving, and easily accessible, especially for the tech-savvy generation, which is estimated to boost the segment growth.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global mobility-as-a-service (MaaS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to witness highest growth over the forecast period on the back of increasing adoption of advanced technology amongst the population, along with development of successful smart cities in developed nations, such as, the United States.
The market in the Europe region is estimated to gain significant share over the forecast period owing to the expanding area of cities, increasing need for efficient transport system, and adoption of advanced technology. Cities, such as, Amsterdam, London, Copenhagen, and others, are smart cities, which device mobility as a service on a large scale. This is estimated to boost the regional market growth.
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The global mobility-as-a-service (MaaS) market is further classified on the basis of region as follows:
Our in-depth analysis of the global mobility-as-a-service (MaaS) market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing penetration of internet and growing demand for efficient transport system is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~30% over the forecast period, i.e., 2022 – 2030.
High initial investment is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities for growth owing to the successful adoption of smart cities and growing urban population.
The major players in the market are FOD Mobility UK Limited, Citymapper Limited, MaaS Global, Moovit Inc., Qixxit, Splyt Core Foundation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by service, vehicle type, application, and by region.
The four-wheeler segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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