Shared Mobility Market Size, Share & Trends Analysis Report By Service Model (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing), By Vehicle, By Region, And Segment Forecasts, 2023 - 2030

Shared Mobility Market Size, Share & Trends Analysis Report By Service Model (Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing), By Vehicle, By Region, And Segment Forecasts, 2023 - 2030

Shared Mobility Market Growth & Trends

The global shared mobility market size is estimated to reach USD 731.54 billion by 2030, registering an estimated CAGR of nearly 15.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market refers to the various modes of transportation shared by multiple users rather than privately owned or used. Shared mobility has grown significantly during the forecast period, driven by factors such as increasing urbanization, rising concerns about the environmental impact of personal transportation, and the growing popularity of alternative modes of transportation.

Increasing urbanization has a significant impact on the market as more people move to cities and urban areas, there is a growing need for transportation solutions that are efficient, affordable, and sustainable. Shared mobility services have emerged as a popular solution to meet the need by providing users access to vehicles and transportation options they can share with others. These services make it easier and more affordable for people to get around in urban areas without relying on personal car ownership. In addition, these services are often more environmentally friendly than traditional modes of transportation since they can help reduce congestion, air pollution, and carbon emissions.

The widespread adoption of the internet had a significant impact on the market, it has made it possible for companies to develop and deploy sophisticated platforms and mobile applications that enable users to access shared mobility services more quickly and efficiently. Internet adoption has allowed companies to offer a range of features that enhance the user experience, such as real-time vehicle tracking, payment processing, and user reviews and ratings. These features help users to feel more comfortable and confident using shared mobility services and can help to build trust and loyalty with customers. Furthermore, internet adoption has made it easier for companies to collect and analyze data about how their services are being used. This data can identify trade and patterns in user behavior and inform the development of new services and features that better meet users' needs.

Several companies have emerged in the Latin American market, offering services such as car sharing, ride-hailing, bike sharing, and scooter sharing. Some of the key players in the market include Uber, Cabify, DiDi Chuxing, Grin, and Lime. In addition to traditional services, there has also been a growing interest in electric mobility solutions in the region. This has led to new services such as electric bike-sharing programs and electric scooter-sharing services. There need to be more infrastructure and regulatory frameworks to support these services. However, some cities have begun to develop regulations and infrastructure to encourage the growth of shared mobility services.

Shared Mobility Market Report Highlights

• The two-wheelers vehicle segment is anticipated to witness the fastest CAGR of over 18% from 2023 to 2030. Two-wheelers have always been a popular mode of transportation due to their low cost and fuel efficiency. Shared mobility companies have recognized this trend and have started to offer shared two-wheeler services, such as bike-sharing and scooter-sharing to cater to the market growth
• The bike-sharing service model segment is expected to register the fastest CAGR from 2023 to 2030. Two-wheeler services are expected to flourish in the coming years as two-wheelers are considered the fastest and fastest way to travel on congested city streets
• Middle East and Africa region is anticipated to register the highest CAGR over the forecast period. The growing demand for shared transportation solutions due to increased corporate travelers in countries such as the UAE and South Africa encourages market growth

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