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(USGovernment-News.Com, July 03, 2018 ) The global mobility as a service market is estimated to grow at a CAGR of 33.9% during the forecast period 2018 – 2025 and accounts for US$ 358.35 Bn in the year 2025.
As urban density continues to grow, commuting and travelling has become a crucial aspect in everyone’s life. As digitalization grow, various different tools were being developed to find information for planning and conducting trips. However, these applications have some shortcoming in terms of planning trips with different mode of transport as every user have to locate, book, and pay for each mode of transportation separately.
The demand for a compact digital platform has grown in the recent years that has a capability to allow end-to-end trip planning, booking, electronic ticketing, and integrated one payment services for all modes of transportation, either public or private. Mobility as a Service (MaaS) integrates various forms of transport services into a single mobility service platform accessible on demand by end-users. MaaS provides users with the real-time information from throughout the transportation network and takes into consideration all form of possible options to match users preferences (for example, time and convenience vs. cost), and facilitates seamless payment.
The mobility as a service market segmentation is done on the basis of service type, application platform, business model and vehicle type. The service type segment of mobility as a service market includes self-driving car service, ride-hailing, car sharing, bi-cycle sharing and bus sharing. On the basis of application platforms, the market has been segmented into Android, iOS and others. Additionally, the mobility as a service market has also been segmented by business model into B2B, B2C and P2P rentals. Different types of vehicles are used in the multi-modal transportations that form the basis for segmentation of the market on vehicle type which are passenger cars, bus and bikes. On the basis of geography, the mobility as a service market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
Currently, the MaaS industry is experiencing staggering growth that has been by a numerous factor. The most significant factors that have impacted the growth of this industry are rapid urbanization and consequently more number of passenger cars on the roads leading to congestions and parking problems. Apart from the application platform providers, large automotive OEMs have announced their plans to invest in this large business opportunity. MaaS is expected to be a key driver in the growth and profitability of the automotive industry outpacing the profits earned by only manufacturing cars by these automakers. The growth of this technology is very high as significant investments are being collected to implement this technology for a better traffic management and public transportation system.
The on-demand bus transit model is still in the nascent stages of operation as developed and developing nations have implemented mobility services by bus systems differently. The private operators of bus services have come up with flexible route model for transportation in the developed countries of the world, whereas in the developing nations, public bus operators have preferred to operate on a foxed route model with higher efficiencies.
The on-demand bus transit services have witnessed huge adoptions in North America and European regions. Also, they are anticipated to grow at a very high pace in the Asia Pacific region owing to high density of population staying in the urban areas in this region. Ride-hailing players such as Ola, Uber and Didi Chuxing have expanded their scope with inclusion of private buses on their platforms. Bridj, OurBus, and Chariot are other major players in the Bus market for MaaS. Some of the global key players operating in the mobility as a service market are Uber Technologies, Inc., UbiGo AB, SkedGo Pty Ltd., Lyft, Inc., Whim App and Splyt Technologies Ltd. Also, Transit Systems Pty Ltd., Smile Mobility, Qixxit, Moovel Group GmBH and Beeline Singapore are other key companies in the mobility as a service market.
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