Mobility as a Service Market

Mobility as a Service market is projected to grow from USD 5.7 billion in 2023 to USD 40.1 billion by 2030, at a CAGR of 32.2% over the forecast period. The prices of fossil fuels have been increasing continuously with the volatile oil prices, which in turn increases transportation costs. With increasing inflation, owning a car has become a challenge, so people are switching to alternate modes of transportation, such as ride-hailing or car-sharing services. These services are flexible and convenient, and cost-effective for consumers.  Finding a proper parking space and paying for the same has become a big hassle for commuters. Such factors are driving the consumers towards MaaS.

The mobility as a service market is poised for substantial growth in the coming years, driven by several key factors:

• Technological Advancements
• Urbanization and Population Growth
• Shift Towards Shared Mobility
• Environmental Consciousness
• Regulatory Support

To know about the assumptions considered for the study download the pdf brochure

Technological Advancements:

• Ongoing innovations in digital platforms, mobile applications, and connectivity solutions are revolutionizing the way people access transportation services. Advanced technologies such as artificial intelligence, machine learning, and IoT enable MaaS providers to offer seamless, integrated mobility solutions tailored to individual needs.

Urbanization and Population Growth:

• Rapid urbanization, coupled with the increasing global population, is putting immense pressure on existing transportation infrastructure. MaaS offers a sustainable solution to urban mobility challenges by providing efficient, convenient, and cost-effective transportation options, thereby addressing the growing demand for mobility in densely populated urban areas.

Shift Towards Shared Mobility:

• The rising popularity of shared mobility services, including ride-hailing, bike-sharing, and car-sharing, is reshaping the transportation landscape. MaaS platforms capitalize on this trend by integrating various shared mobility options into a single interface, offering users greater flexibility and choice in how they travel.

Environmental Awareness and Sustainability:

• Growing concerns about climate change and air pollution are driving the demand for greener transportation alternatives. MaaS promotes sustainable mobility by encouraging the use of electric vehicles, promoting active transportation modes such as walking and cycling, and optimizing route planning to reduce carbon emissions and minimize environmental impact.

Regulatory Support and Policy Initiatives:

• Governments and regulatory authorities worldwide are increasingly recognizing the potential of MaaS to address urban mobility challenges and achieve policy objectives related to congestion reduction, air quality improvement, and sustainable development. Supportive regulations, policy frameworks, and financial incentives are driving the adoption of MaaS initiatives and fostering collaboration between public and private stakeholders.

Based on these factors, the mobility as a service market is projected to experience robust growth in the coming years, with significant opportunities for market players to capitalize on emerging trends and technological advancements.

Mobility as a Service Market Share - Global Industry Landscape

The mobility as a service market is characterized by the presence of several key players competing for market share. Some of the leading companies in the biomarkers industry include: