Mobility As A Service Market size To Witness Noteworthy Growth And Reach $1968.85 Billion By 2032

The mobility as a service market is USD 207.7 Billion in 2023, with projections indicating that it will reach USD 1,968.85 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 28.39% over the forecast period 2024-2032. MaaS provides efficient solutions to shift traffic in faster, more convenient, and less expensive way. In addition to this, the rapid development of the telecom industry, extensive penetration of handsets on 4G, 3G, and 5G networks, and high levels of connectivity will facilitate the development of mobility as a service market.

Some of the major players active in the mobility as a service market are Whim, Moovit, Citymapper, Skedgo, Mobilleo, Smile mobility, Ubigo, Qixxit, Splyt, and Beeline. Whim is one of the well-known companies and an internationally distinguished service supplier of MaaS. The firm follows the tactic of supply partnerships/contracts and expansion to attain a competitive advantage in the mobility as a service market. In July 2017, the most extensive bikeshare provider in the world, Nextbike, joined hands with Whim.

Insurance Services Are The Quickest Developing Segment In The Mobility As A Service Market

The shift towards mobility as service market is attaining speed but it is still too early to forecast with confidence that how it will impact the dynamics of auto insurance services industry. The current model of insurance is expected to be restored by commercial insurance of fleets of the global market vehicles. MaaS suppliers can provide fully new services by professionally using their customer access and data. The insurance services sector will witness amazing development with the market growth.

Ride Hailing Projected To Be The Biggest Segment Of Mobility As A Service Market During The Forecast Period

The ride hailing section is projected to see maximum development due to its worldwide acceptance at all levels—from enterprises to personal need. The passenger comfort and ease of booking provided by ride hailing are the primary reasons for its attractiveness. It can also be integrated easily with the public transportation since it is an on-demand service. It has a lion’s share in the ride sharing sector due to these factors and consequently will have huge share in the mobility as service market too.

Europe Projected To Add Up For The Biggest Market Share During The Forecast Period

Europe is the biggest market due to the dominance of some of the top merchants such as Citymapper, Whim, Moovel, and Tranzer. In addition to this, developed nations in Europe such as the Netherlands, Finland, and Germany are the early accepters of MaaS services. Nations such as Germany, the UK, the Netherlands, and France have been spending in smart transportation infrastructure. The planned spending to enhance urban traffic and transport infrastructure are projected to boost the market in Europe.

Browse the full “Mobility as a Service Market - By Service (Ride Hailing, Car Sharing, Station Based Mobility, Bus Sharing, and Train), By Solution (Platforms, Payment, Navigation, Telecom Connectivity, Ticketing, and Insurance), By Transportation (Public and Private), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/mobility-as-a-service-market

The global mobility as a service market is segmented as follows:

By Service Type

• Ride hailing
• Car sharing
• Micro mobility
• Bus sharing
• Train service

By Solution Type

• Technology platforms
• Payment engines
• Navigation solutions
• Telecom connectivity providers
• Ticketing solutions
• Insurance services

By Transportation Type

• Public
• Private

By Vehicle Type

• Micro mobility
• Four wheelers
• Bus
• Train

By Application OS

• Android
• iOS
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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