Press Release Description

Expanding fleet size, declining fare, smartphone penetration and growing workforce to contribute to the growth of Mobility as a Service (MaaS) market 

Market Overview
Rapid urbanization, improved transportation infrastructure, and emerging new players in the industry owing to the increasing demand for the one-stop solution of transport service is contributing to the growth of mobility as a service market. Furthermore, the increasing traffic congestion due to the continuous rise in the vehicle fleet and increasing fuel prices across the globe is resulting in the adoption of transport services. It was found that on average a driver in the U.S lost around 99 hours due to traffic congestion. Therefore, the market size of mobility as a service market is escalating with the surging number of vehicles on the road. However, the COVID-19 pandemic across the globe led to a halt in the market growth as all the mobility services suspended due to the lockdown and curfew. 

Market Outlook and Forecast Analysis
According to MarkNtel Advisors’ research report Global Mobility as a Service Market Analysis, 2020”, the market size of mobility as a service market across the globe is forecast to grow at a CAGR of around 32% during 2020-25. The market size is surging on account of increasing high connectivity internet penetration and smart devices. It was found that the global internet penetration in 2015 was 44.44% which increased to 49.7% in 2019 which leads to great connectivity with the service providers. therefore, it results in the growing market of mobility as a service market. 

Furthermore, the benefits associated with mobility as a service model such as time savings and economical services coupled with the surging number of OEMs in the industry is contributing to the growth of mobility as a services market.

Asia Pacific to Witness Robust Growth in the Forecast Period
In 2019, Americas grabbed the major market share in the global mobility as a service market. The mobility as a service market in North America is witnessing an uptick on account of the presence of numerous service providers in the US and Canada. Moreover, the higher internet penetration rate in the US as compared to other countries and smart devices are some of the key contributing factors for the growth in the market of mobility as a service market. 
However, APAC is expected to register an astronomical growth during 2020-25 owing to the emergence of new players in the industry. Also, the government’s concern for poor air quality due to increasing vehicle fleet in countries such as India, Japan, China is resulting in the investment in the transport infrastructure. The government of China invested around USD 328 billion in 2018 on the transport infrastructure.


Ride-Hailing to Grab Significant Market Share During Forecast
The ride-hailing segment is expected to capture the major market share on account of the increasing smartphone penetration and the benefit such as ease of booking and payment. Furthermore, the benefits of global acceptance of ride-hailing for the need ranging from personal to the enterprise are some of the key factors contributing to the market share growth of the ride-hailing segment. Furthermore, the insurance solution would garb the major market share in the forecast period of 2020-25 owing to the offering of new services with the help of data and customer access. 

Based on the commuting pattern, the daily commuting and first & last mile commute combinedly captured the significant market share. A surge in the working population across the globe is resulting in the growth in the market share of the daily commuting pattern. Moreover, the parking problems, hike in fuel prices are some of the reasons due to which end users prefer to go for mobility services. 

 Pay-as-you go pricing model grabbed the major market share in 2019 and is expected to dominate in the forecast period too. The surging number of service providers and offers on the rides or services make the consumer adopt a pay as you go model. However, the service providers are offering the discounts or the free tips on the monthly subscription model, due to which the market share is increasing, as revealed by MarkNtel Advisors’ research report “Global Mobility as a Service Market Analysis, 2020”.

According to MarkNtel Advisors’, the market of mobility as a service across the globe is highly fragmented due to the presence of numerous local and foreign players operating in the market. The major market players with a considerable market share in the industry are Whim, Bla Bla Car, Car2Go, CityMapper, DiDi Chuxing, Grab, LeCab, Lyft, Mobike, Movit, Ola, Ridecell, Uber, Zoox, Scoot, Floatility, Easy Mile, Bridj, Careem, Ofo, InDriver and Curb Mobility among others. The companies are doing strategic alliances, geographical expansion and investing in the new technologies to gain a significant market share in the industry. For Instance, Japan-based real estate company Mitsui Fudosan announced its partnership with “Whim” to incorporate the Maas platform in Japan in 2019.  

“Global Mobility as a Service Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for mobility as a service providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  
     
Market Segmentation:
1.    By Services ((Ride (Hailing, Sharing), Vehicle Sharing (Car Sharing, Bi-Cycle Sharing, Motorbike Sharing), Public Transport (Bus Sharing/ Shuttle Service, Train)), 
2.    By Solution (Technology Platforms, Payment Engines, Navigation Solutions, Telecom connectivity, Ticking Solutions, Insurance Services)
3.    By Commuting Pattern (Daily Commuting, First and Last mile, Inter-City Trips, Off-Peak & Shift Work Commute, Airport or Mass Transit Station, Others)
4.    By Pricing Model (Pay-as-you-go, Monthly subscription)
5.    By Business Model (B2B, B2C, B2I, B2G)
6.    By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America),
7.    By Countries (U.S, Canada, Mexico, Brazil, Japan, China, India, South-Korea, U.K, France, Germany, Sweden, UAE, Saudi Arabia, South Africa)
8.    By Company (Whim, Bla Bla Car, Car2Go, CityMapper, DiDi Chuxing, Grab, LeCab, Lyft, Mobike, Movit, Ola, Ridecell, Uber, Zoox, Scoot, Floatility, Easy Mile, Bridj, Careem, Ofo, InDriver and Curb Mobility, others)

Key questions answered in the study:
1.    What are the current and future market trends of Global Mobility as a Service industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the region followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Global Mobility as a Service industry?
5.    What are the customer orientation, purchase behavior, and expectations from the Global Mobility as a Service across various regions?