Global Shared Mobility Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Shared Mobility Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Shared mobility includes various forms of car sharing, bike sharing, ridesharing, carpooling, vanpooling, and on-demand ride services. Shared mobility provides users with short-term access to one of these modes of travel as they are needed. It can also include alternative transit services, such as paratransit, shuttles, and private transit services, called micro transit, which can supplement fixed-route bus and rail services. Shared mobility has had a transformative impact on many global cities by enhancing transportation accessibility, while simultaneously reducing driving and personal vehicle ownership.

Market Overview:

The latest research study on the global Shared Mobility market finds that the global Shared Mobility market reached a value of USD 188085.43 million in 2023. It’s expected that the market will achieve USD 449204.45 million by 2029, exhibiting a CAGR of 15.62% during the forecast period.

The benefits of shared mobility

The main advantages of shared mobility include time and cost reduction, sustainability, and convenience. A growing elderly population, a large customer base, and increasing personal awareness are driving the need for improved shared mobility services around the world. The cost of owning a car has been rising in recent years due to factors such as rising gas, insurance, and maintenance costs. Consumer demand for convenient, flexible, and affordable transportation options continues to increase. The rise of the gig economy and flexible work arrangements has also contributed to the growth of shared mobility, as more people need to travel for work. Unlike passenger cars, which require large capital investments or expensive leasing programs, shared mobility requires no capital outlay for the end user. With ride sharing, passengers can share costs such as tolls or gas. Loss of time due to congestion is most common in city centers, caused by the high ratio of traffic intersections to road space, limited parking spaces in city centers, and the difficulty of expanding transport networks. The most effective way to reduce congestion is to reduce the number of vehicles moving through the city. Shorter journeys can be completed faster using shared mobility, and shared micro mobility (e-scooters, e-bikes) allow for greater mobility in traffic. The main benefit to society as a whole is that by reducing the number of cars in circulation and the amount of pollutants in the air, air quality will improve, thereby reducing health problems. Shared mobility can also improve accessibility in areas where public transportation is scarce. Shared mobility offers the potential to connect first- and last-mile journeys to mainline public transport services, thereby expanding spatial opportunities accessible within a reasonable time frame. In many cases, they can provide services 24/7 and therefore offer wider time accessibility than existing public transport services. Integrating shared mobility into the transportation system makes affordable transportation more accessible to citizens. For individuals, shared mobility can also enhance other aspects of trip quality, such as more exercise, the social benefits of coordinating trips with friends and family, and feelings of satisfaction and happiness. In addition, shared mobility can greatly boost the development of local economies and small businesses. Residents and visitors alike can move around the city, shop at local businesses, and experience the freedom of travel without the hassle of traffic jams and overpriced taxis. Therefore, shared mobility has a positive social impact in saving resources, easing congestion, and reducing pollution and energy consumption.

Development of smart mobility applications

Shared mobility is booming as consumers demand convenient, economical, and sustainable travel options in urban areas. Advances in electronics and wireless technology make it easier and more efficient to share assets and data. This has led to new solutions emerging from automakers, rental car companies, venture capital-backed startups, and city-sponsored projects. Some businesses are starting to offer mobile apps and help with non-ownership rides. The widespread adoption of mobile apps enables users to quickly and easily access and book ride-sharing services. The apps provide real-time information on vehicle availability, pricing, and location, and use time-saving electronic ticketing and payment services to make it easier for users to plan trips and explore the city. Consumers also demand more convenient and flexible services, which has led to the development of business models such as on-demand ride-hailing, hourly pick-up and drop-off services, and monthly subscription services. In addition, some service providers offer various offers and discounts, such as shared ride monthly passes, to reduce the cost of daily commuting. For fleet managers, by leveraging a mobile app for car sharing solutions, owners can control vehicle access and capture all relevant vehicle and ride information needed for billing, statistics, and fleet management. Using the integrated platform, car owners can effectively manage users and automate daily business with the help of a back-end interface. Additionally, mobile apps can connect public and private transportation. Consumers can easily explore a variety of routes and schedules and receive real-time updates on fixed-route buses, light rail, and other public transportation options. If public transport is unavailable, the app provides the most convenient alternative transport options, including renting an electric car and finding an electric moped. For example, Hitachi Rail's world-first 360Pass app, which connects Genoa's entire public transport infrastructure, is now available to all 600,000 citizens and 3.5 million visitors per year, following a new agreement with Genoa Municipal Transport Authority AMT.

Currently, ride-sharing is popular in large cities and densely populated areas. In the future, as technology continues to advance, on-demand ride-sharing systems will enter smaller cities and even rural areas to provide them with cost-effective micro-transit services. Some of today’s new shared mobility options include car sharing, ride-hailing services, and micro mobility, as well as micro mobility, such as shared bikes and shared scooters. Booking, access (e.g. unlocking/locking shared bikes), real-time location tracking, and payment can all be done via an app on your smartphone or computer. McKinsey research shows that nearly 70% of consumers say they would be willing to use micromobility for commuting. This shows that more and more workers are considering smaller vehicles and more sustainable modes of transport. In the future, shared mobility will also include shared autonomous vehicles such as robotaxis and robot shuttles. Self-driving shuttles reduce the price of private cars. As cities introduce policies to promote the development of robot taxi services, consumer acceptance of robot taxis continues to increase. Therefore, the shared mobility market is constantly expanding as consumers become more aware of shared mobile apps and systems and rely more on mobile apps to streamline daily processes.

Region Overview:

In 2022, the share of the Shared Mobility market in Asia Pacific stood at 50.93%.

Company Overview:

The major players operating in the Shared Mobility market include Uber, Didi Chuxing, Lyft, Yandex, Bolt, etc. Among which, Uber ranked top in terms of sales and revenue in 2023.

Uber is a technology company on a mission to revolutionize and improve the way people and things move. We rely on technology to develop and maintain multi-faceted platforms that connect consumers who need rides with independent owners who provide rides, and provide consumers with other travel options, including public transportation, bicycles and scooters.

We also connect consumers, restaurants, grocers and other merchants to buy and sell meals, groceries and other supplies, and help them access delivery services from independent delivery people. Additionally, Uber connects shippers and carriers in the trucking industry.

Our technology reaches 10,000 cities in more than 70 countries around the world, helping people get around and deliver and access services.

Segmentation Overview:

By type, Ride-sharing segment accounted for the largest share of market in 2022.

Application Overview:

By application, the IC Engine Vehicles segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Shared Mobility market covered in Chapter 3:

Mobility Carsharing
Free2move
Enterprise Holdings
Easy Taxi
Cambio CarSharing
BlaBlaCar
Yandex
ANI Technologies (Ola Cabs)
Sixt SE
Via Transportation
Lyft
Didi Chuxing
Wingz
Grab
Bolt
Uber
Gett
Cabify

In Chapter 4 and Chapter 14.2, on the basis of types, the Shared Mobility market from 2019 to 2030 is primarily split into:

Ride-sharing
Carpooling
Car-sharing
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Shared Mobility market from 2019 to 2030 covers:

IC Engine Vehicles
Electric Vehicles

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)