Mobility as a Service (MaaS) Market
Growth Factors of Mobility as a Service (MaaS) Market
The mobility as a service (maas) market size was valued at USD 391.69 billion in 2023, and the market is now projected to grow from USD 410.63 billion in 2024 to USD 1698.14 billion by 2032, exhibiting a CAGR of 19.4% during the forecast period of 2024-2032.
Pandemic impacted the mobility as a service (MaaS) market, because of decline in call for transportation services due to lockdowns and tour regulations. However, as regulations eased and vaccination quotes accelerated, the focal point shifted to contactless and on-call for transportation answers, promoting more secure and greater efficient journey experiences.
The global market is developing because of the growing adoption of digitalization and charge solutions. Consumers are increasingly more the usage of digital systems for various components in their lives, collectively with transportation, essential to a reshaping of the mobility panorama. The convenience and performance of virtual structures for making plans, booking, and figuring out to buy transportation offerings are improving the individual experience. Digital charge techniques like mobile wallets, contactless bills, and digital banking facilitate problem-free transactions, permitting MaaS carriers to provide cutting-edge pricing fashions, loyalty packages, and incentives to draw and hold clients.
Governments international are enforcing stringent emission norms to minimize rising pollution from traditional motors. To reduce carbon emissions and extend agencies in economies with stricter emissions, leading MaaS carriers are reworking their fleets to electric cars.
Comprehensive Analysis of Mobility as a Service (MaaS) Market
The experience-hailing market is predicted to dominate due to its diverse booking alternatives and luxury, in addition to it select-and-drop facility. The automobile-sharing segment is expected to hold the second one-biggest role because of transferring customer preferences in the direction of low cost and flexible answers, in addition to developing cognizance of emissions and site visitors’ congestion. The MaaS market is segmented into iOS and Android, with the Android section dominating due to its low price in comparison to iOS. The iOS phase is anticipated to experience full-size growth because of its excessive safety and information protection privacy, no matter its better pricing. Overall, the journey-hailing and vehicle-sharing segments are expected to dominate the marketplace during the forecast duration.
The Asia Pacific region lead the mobility as a service (maas) market share by benefitting a market size of USD 157.9 billion in 2023 due to rising vehicle ownership costs, rapid urbanization, and rising fuel prices, particularly in India and China. The vicinity's lack of public transportation is also contributing to the increase of MaaS services, in spite of the area's developing population.
The marketplace is having key players like Uber Technologies Inc., Lyft, Didi Chuxing Technology Co., ANI Technologies Pvt. Ltd., Grab, Shuttl, BMW Group, Moovit Inc., and Citymapper. Uber, a leading shipping services issuer, offers trip-hailing, journey-sharing, and food shipping offerings in over 85 international locations.
Asia Mobility Technologies launched the primary MaaS answer in Greater Kuala Lumpur, providing multimodal journey planning and ticketing through the Trek app, which incorporates public transport, park and experience, and active transport.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 19.4% over 2024 to 2032
Unit Value (USD billion)
Segmentation By Service Type
- Ride-Hailing
- Car Sharing
- Taxi Services
- Others
By Application Type
By Geography
- North America (By Service Type, By Application Type)
- U.S. (By Service Type, By Application Type)
- Canada (By Service Type, By Application Type)
- Mexico (By Service Type, By Application Type)
- Europe (By Service Type, By Application Type)
- U.K. (By Service Type, By Application Type)
- Germany (By Service Type, By Application Type)
- France (By Service Type, By Application Type)
- Rest of Europe (By Service Type, By Application Type)
- Asia Pacific (By Service Type, By Application Type)
- China (By Service Type, By Application Type)
- India (By Service Type, By Application Type)
- Japan (By Service Type, By Application Type)
- South Korea (By Service Type, By Application Type)
- Singapore (By Service Type, By Application Type)
- Australia (By Service Type, By Application Type)
- Rest of Asia Pacific (By Service Type, By Application Type)
- Rest of the World (By Service Type, By Application Type)
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