Asia-Pacific Shared Mobility Market

Asia-Pacific Shared Mobility Market

Asia-Pacific Shared Mobility Market is anticipated to grow with a rapid CAGR in the upcoming years. The two main market-driving variables are rising Internet usage and rising investment in applications for shared mobility, with the rise of smart mobility, which is a game-changing method of discovering new ways to commute in a safe, efficient, and environmentally friendly manner. Shared mobility reduces emissions, ownership, and accidents.

The public transportation system has also advanced greatly over the past few decades in terms of travel time, contactless payment, and general effectiveness. Growing market prospects have led to numerous recent advancements in technological start-ups. Market participants are also rapidly devising innovative motorcycle or cab-sharing strategies.

In recent years, shared mobility has developed a particular interest in becoming smarter, as the vehicle is newly introduced with Internet of Things (IoT) Technology. Furthermore, numerous companies have begun to develop smartphone apps to aid in the transition to non-ownership rides. In such a module, the rider can book their journey according to their needs, route, time, and vehicle type without owning or renting the car for that time duration.

The COVID-19 pandemic's lockdown and economic crisis have had a significant influence on many mobility service providers. With the spread of the pandemic, governments around the world introduced social distancing, contact tracing, self-quarantining, testing, and other rules to prevent further spread. This resulted in a substantial decrease in rides for firms like Uber and Lyft. In May 2020, Uber announced the layoff of 600 employees in India as part of a cost-cutting drive in response to the coronavirus outbreak. Additionally, Lyft announced in April 2020 that it would lay off 982 employees, accounting for 17% of its workforce, due to the Covid-19 Pandemic.

Increasing Traffic Congestion and Pollution to Support the Asia Pacific Market

The increased use of ride-sharing services can be attributed to overcrowding in Asia Pacific public transportation infrastructure. Population growth in nations such as China and India has resulted in overcrowding of transit facilities and an increase in pollution levels. This has pushed people to use carpooling for their everyday journeys. Furthermore, factors such as lower travel costs and less congestion are increasing the regional market demand.

Increasing Electric mobility

Governments all over the world are enforcing strict emission norms to reduce the rising pollution since conventional automobiles produce significant amounts of carbon emissions. Therefore, several top mobilities as a service companies are converting their fleet to electric to provide sustainable future mobility solutions for the urban population in order to cut carbon emissions and grow their business in economies with strict emission regulations. Uber Technologies Inc. stated in September 2020 that all its rides in the United States will be in electric vehicles by the year 2040. Blu Smart Mobility's all-electric cab ride-sharing service stands out. With Blusmart mobility, you can travel faster and more efficiently, As The company has effectively reduced 3350 tonnes of CO2 emissions, conducted 1410,000 electric rides, and traveled 51 million kilometers on sustainable energy. Many BluSmart cab riders have stated that the environmentally responsible nature of the ride enhances their overall experience.

Growing Demand for Shared Mobility

Micromobility is predicted to represent the future of shared transportation, particularly in underdeveloped countries. Micro-mobility refers to the use of light vehicles, such as bicycles and scooters, for short distances. Consumers' increased interest in micro-mobility has spawned vital manufacturers in micro-mobility transportation, such as Daimler and MW. Taxis, passenger vehicles, and charter cars are examples of on-demand services that provide end users with flexibility and features such as real-time feedback, vehicle monitoring, and rating. A plethora of mobile applications make it easy to locate available passenger vehicles and compare fares with neighbors. Alto, a newly founded startup, began offering ride-sharing services comparable to Uber and Lyft in March 2022. Customers can use their particular smartphone application to call.

Market Segmentation

The Asia-Pacific Shared Mobility Market is segmented by service type, vehicle type, booking type, commute type, and by region. Based on service type, the market is segmented into Shared and Rental. Based on Vehicle type, the market is segmented into two-wheelers, Passenger cars, and Commercial vehicles. Based on booking type, the market is segmented into online and offline booking. Based on commute type, the market is divided into inter-city and intra-city.

Company Profiles

Uber Technologies Inc., Ola Cabs (ANI Technologies Pvt. Ltd.), Superhighway Labs Pvt. Ltd, Lyft, Inc, Europcar Mobility Group, Grab Holdings Inc, Bolt Technology OU, Easy Mile SAS, Didi Chuxing Technology Co., Ltd. Zoomcar India Private Limited and Drivemate Pte Ltd. are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Report Scope:

In this report, ASIA-PACIFIC Shared Mobility Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

• Asia-Pacific Shared Mobility Market, By Service Type:
• Shared
• Rental
• Asia-Pacific Shared Mobility Market, By Vehicle Type:
• Two-Wheeler
• Passenger Car
• Commercial Vehicle
• Asia-Pacific Shared Mobility Market, By Booking Type:
• Online
• Offline
• Asia-Pacific Shared Mobility Market, By Commute Type:
• Inter-City
• Intra-City
• Asia-Pacific Shared Mobility Market, By Country:
• China
• Japan
• India
• Singapore
• Thailand
• Indonesia
• South Korea
• Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the ASIA-PACIFIC Shared Mobility Market.

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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