Mobility as a Service Market Size, Share, and Trends 2023-2030

The global mobility as a service market size is valued at USD 5.7 billion in 2023 and is expected to reach USD 40.1 billion by 2030, at a CAGR of 32.2% over the forecast period. With rapid urbanization, congestion and traffic-related challenges are increasing. MaaS offers a solution by providing users with multimodal transportation options, which in turn reduces the number of private vehicles on the road, and alleviates traffic congestion. In most cases, these services are flexible and highly customized per independent user. ?Faster internet connectivity, falling vehicle ownership, and the need to reduce traffic congestion and vehicular emissions will fuel the demand for seamless MaaS applications for end-to-end multimodal transport solutions.

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Mobility as a Service Market Dynamics

Driver: Improvements in 4G/5G infrastructure and penetration of smartphones

As an internet-enabled service, connectivity is a basic requirement for MaaS. According to the International Telecommunication Union, by the end of 2023, an estimated 64.4% of the global population, or 5.16 billion people, will be using the Internet. Smartphones are vital infrastructure for new mobility models since mobility services like ride-sharing run on smartphones and require good connectivity. Over the last few years, smartphone use has increased significantly across the world, with developed countries accounting for around 80% of smartphone ownership.

5G network and better telecom infrastructure are expected to pave the way for a revolution in cities and in inter-city mobility. Wireless communication technologies (such as DSRC) can help improve traffic safety and increase traffic flow throughput. With onboard units (OBU), connected and automated vehicles (CAVs) can reduce the driver's perception-reaction time and improve safety. Vehicular communication can enable CAVs to collect information from other vehicles and roadside units (RSUs) and coordinate with other CAVs to control and manage the platoon, such as merging, splitting, and maintaining a particular gap. The ongoing development of OBU, RSU, etc.

B2B to dominate the revenue generation business model.

A business-to-business (B2B) model is one in which a business deals in commercial transactions with another business. B2B mobility sharing allows the sharing of mobility services with other businesses to reduce vehicle parking space and the number of fleets by enabling car-sharing services within an organization; this helps to lower traffic congestion and emission from vehicles. The utilization of B2B mobility services improves business processes and results in higher employee satisfaction with improved productivity of the workforce. Major service sector regions like the US and Europe thus have a dominant share in the segment. IoMob (Spain) is the first B2B player to develop and launch a MaaS solution that simultaneously offers intercity mobility travel coupled with intracity and micro-mobility services.

Payment Engines are the fastest-growing solution type.

Payment engines are a critical component of a MaaS system since service providers use various gateways for online payment processing after they have used their chosen service. Payment plans for users may range from a pay-per-trip/pay-as-you-go offer to partial or full subscriptions.

Currently, the market share of payment engines is ~10%, which is likely to grow fast as more customers demand smoother ticketing solutions. Typically, only one or two payment options other than cash, such as payment merchants, credit card, and payment wallets, are offered. Hence, these services have limited investment. However, with digital payments gaining popularity post-pandemic, investment in these solutions is likely to increase.

Asia Pacific region holds the largest market share in the mobility as a service market in terms of value.

Asia Pacific owing to its large population will hold a significant share of the MaaS market. This is also fueled by the presence of strong MaaS service providers such as DiDi in China, Ola & Uber in India, and Grab in Singapore. Singapore leads the region in terms of MaaS application test center. The Singapore Smart Mobility 2030, as part of Singapore’s Smart Nation plan, is allotted a budget of USD$1.7 billion and primarily focuses on developing autonomous taxis, buses, and shuttles. This development is likely to attract MaaS integrators to the region to boost the growth of the market. Integration of payment systems will play a key role in this region. For example, the Unified Payment ID (UPI) service in India allows its users to pay digitally just with their phones using a simple PIN. Such technologies can be integrated with MaaS applications to smoothen the multimodal integration of transport services and decongest the overpopulation of urban cities in this region.

Key Players

Prominent companies include Citymapper (UK), MaaS Global (Helsinki), Skedgo (Australia), FOD Mobility UK Ltd. (UK), and Moovit (Israel) are the leading mobility as a service providers in the global market.

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