Mobility as a Service Market Size – Global Opportunities & Forecast, 2020-2027
Mobility as a Service Market
The GMI Research anticipates that the Mobility
as a Service Market is likely to expand at a growth rate of 23.79% over the
tenure of seven years, i.e., from 2021 to 2028. Rapidly accelerating urban
population has raised the pressure on transportation infrastructure, and the
proliferation of SMEs into the MaaS market will complement the market growth.
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Mobility
as a Service Market Dynamics
The Mobility as a Service offers several advantages such as customized services for users, real-time route design, streamlined payment using smartwatches, ph
ones, and bank cards, less traffic obstruction, and a better level of road safety. Also, the rapidly accelerating urban population and the growing level of pollution resulting from vehicle discharge have elevated the market growth. Further, the rising espousal of the smart transportation system has elevated the market growth. In accordance with the United Nations, nearly 55% of the world's population resides in urban areas and is projected to reach 68% by 2050. This is likely to increase the issue of urban traffic jams, thereby encouraging market growth. The Mobility as a Service provides various advantages such as real-time route planning, personalized service for users, simplified payment using phones, smartwatches, and bank cards, reduced traffic congestion, and increased level of road safety. Furthermore, the prevalence of various Maas solutions such as ridesharing apps like LYFT, Uber, Via, BlaBla Car, Hitch, peer-to-peer rental services such as Flexicar, GoGet, Getaround, car2Go, and Turo will further proliferate the the Mobility as a Service market growth.
However, the evolution of the coronavirus crisis has
negatively influenced several industries such as hospitality, travel, and
ridesharing which may restrain the market growth. The insufficient powerful
network infrastructure in emerging and underdeveloped nations accompanied by
the growing safety concern will hinder the market growth.
Transport
Type Segment Drivers
By transport type, the public segment is likely to lead the
Mobility as a service market during the forecast period. This is because of the
increasing emphasis of government towards promoting awareness concerned with
fuel effectiveness and acquisition of public transport system. Additionally,
several organizations such as International Transport Forum, The United Nations Economic Commission for
Europe (UNECE), MaaS Alliance are engaged in the development of an incorporated
transport system in order to expedite the development of Mobility as a Service,
especially across the public transportation vertical, which is anticipated to
propel the Mobility as a Service market size.
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clients in making effective investment and business decisions.
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