Mobility as a Service Market worth $40.1 billion by 2030

The mobility as a service market was valued at USD 3.3 Billion in 2021, and it is expected to reach USD 40.1 Billion by 2030, registering a CAGR of about 32.2% in terms of revenue during the forecast period (2022-2030).

The growth of this mobility as a service market is influenced by factors such as increasing smart city initiatives, growing adoption of on-demand mobility services, the need to reduce CO2 emissions, improved 4G/5G infrastructure, and the penetration of smartphones. Therefore, the mobility as a service market is expected to witness significant growth in the future.

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Ride hailing segment estimated to lead mobility as a service market during the forecast period

The ride hailing segment is expected to command the largest share of the mobility as a service market due to its global acceptance at all levels — from personal use to enterprise use due to its ease of booking and the comfort it provides. Factors such as ease of booking, increasing traffic congestion, passenger comfort & convenience, and government initiatives to increase awareness among people regarding air pollution are boosting the demand for?ride sharing, predominantly e-hailing. Ride hailing can be easily integrated with public transport since it is an on-demand transportation service that can be accessed by a single user. However, it may be inconvenient to use public transport (trains and buses) in urgent situations as well as in situations like the current COVID-19 pandemic, which has created more demand for e-hailing services to maintain social distancing, leading to the use of more ride-sharing services instead of public transport. mobility as a service providers have already started to partner with ride hailing service providers to integrate their services with other modes of transportation. For instance, Moovit Inc., the leading mobility application, entered into a partnership with Uber to understand real-time traffic management. Uber is also moving into the market, extending its ride hailing services with new mobility offerings.

Android segment to register highest CAGR from 2021 to 2030

Today, more than half of the world’s population lives in developing countries where the usage of Android smartphones is higher than iOS ones. According to MarketsandMarkets analysis, the market share of Android is estimated at 64.3% and is projected to be 65.0% by 2030. The share of the market is larger in North America and Europe, where the use of iOS is on the higher side. However, with the growth of the market in Asia Oceania and RoW, the growth of Android applications will be predominant. Furthermore, the growth of Android OS is expected to be driven by more usage of Samsung and LG smartphones in Latin America. Hence, the market for Android will register the fastest growth and the largest share during the forecast period.

Asia Oceania projected to be the largest mobility as a service market by 2030

A high population growth rate and increasing urbanization in the region have intensified the need for efficient transportation. Developing countries in Asia Oceania are expected to experience significant growth in urban transportation with many countries in the region shifting their focus toward smart personal mobility to reduce travel time and congestion. The market size in Asia Oceania is estimated to be the largest, at USD 1,431.3 million in 2021, which can be attributed to the significant growth potential in India, China, Australia, and Singapore. With increasing focus on?smart cities?and improving 5G infrastructure, Asia Oceania is also projected to have the largest market share by 2030.

Key Market Players:

The mobility as a service market is dominated by major players such as Moovit Inc. (Israel), MaaS Global Oy (Finland), Citymapper (UK), Mobilleo (UK), SkedGo Pty Ltd (Australia), UbiGo (Sweden), Splyt (UK), Qixxit (Germany), Communauto (Canada), and Tranzer (Netherlands).

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