Mobility as a Service (MaaS) Market Size - By Service Type (Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, Train Services), Business Model (B2B, B2C, P2P), Transportation Type (Public, Private), Solution Type, OS, Requirement Type & Forecast, 202

Mobility as a Service (MaaS) Market Size - By Service Type (Ride Hailing, Car Sharing, Micro Mobility, Bus Sharing, Train Services), Business Model (B2B, B2C, P2P), Transportation Type (Public, Private), Solution Type, OS, Requirement Type & Forecast, 2023 - 2032

Mobility as a Service (MaaS) Market size is poised to expand at over 9% CAGR from 2023 to 2032 attributed to the global surge in smart city initiatives. Governments worldwide are investing in urban development strategies for integrating several technologies to enhance transportation efficiency. MaaS is witnessing high demand as it aligns seamlessly with these initiatives for offering comprehensive and interconnected approach to urban mobility.

Moreover, rapid advancements in technology, including IoT, real-time data analytics, and the development of innovative mobile apps to enable seamless integration of various transportation modes under the MaaS umbrella will also contribute to strong market growth. For instance, in September 2023, STIB-MIVB, a major public transportation operator in Brussels, Belgium, launched a new mobility-as-a-service app to allow users to plan, book, and pay for various types of transportation inside the city.

The MaaS industry is segmented into service type, business model, solution, transportation, application platform, requirement, and region.

Based on service type, the market share from the micro-mobility segment is poised to generate substantial revenue by the end of 2032 owing to the increasing preference for efficient last-mile connectivity. Micro-mobility, characterized by compact, short-distance transportation solutions, such as electric scooters and bikes is gaining increasing prominence as a sustainable and convenient option for urban commuters. To that end, companies offering micro-mobility services are witnessing increased user adoption in recent years, boosting the segment growth.

In terms of transportation type, the mobility as a service market from the public transport segment is anticipated to depict considerable growth from 2023 to 2032. The rising urbanization across cites is surging the demand for efficient and interconnected public transportation solutions. Moreover, the convenience of real-time information, ticketing, and multi-modal trip planning is contributing to increased public transport ridership. The surge in government initiatives and investments for enhancing public transportation infrastructure is also expected to bolster the segment growth.

Regionally, the Asia Pacific MaaS industry exhibited robust CAGR in 2022 and is anticipated to witness steady expansion through 2032 driven by the increasing need for sustainable transportation solutions. The diverse and densely populated cities in the continent are creating a ripe environment for MaaS innovations, providing industry players with lucrative growth opportunities. For instance, in July 2023, Yulu, the renowned shared electric two-wheeler platform, expanded its footprint in Gurugram, India, with the launch of MaaS products in the last-mile delivery area. Moreover, the presence of tech-savvy population and the proliferation of smartphone usage will also add to the regional industry expansion.