The automotive industry of the UAE is undergoing rapid transformations. Trends like electrification of public transport, shared mobility, autonomous vehicles, etc., are positively influencing the UAE automotive sector. People across the country are now opting for more cost-effective & convenient alternatives to car ownership. It shall help relocate road space, make driving less stressful, and lead to fewer road accidents. Hence, to move forward in a better future, there is a desperate need to change the urban mobility system by adopting shared mobility.
According to MarkNtel Advisors, the UAE Shared Mobility Market is anticipated to grow at a CAGR of around 25.1% during the forecast period, i.e., 2021-26. The growth of the market attributes primarily to the increasing focus of the UAE government on implementing environment-friendly mobility solutions and mounting adoption of connected technologies. Shared Mobility is gaining immense popularity across the UAE since it is a cost-effective solution that eliminates problems associated with traffic congestions & parking spaces.
Strict regulations toward controlling the carbon emissions in the country, coupled with massive investments by the automotive companies in green mobility solutions, are also driving the market. Moreover, the increasing consumer preference toward electric vehicles for cost-effective, comfortable, & clean traveling is likely to create lucrative growth opportunities for the UAE Shared Mobility Market in the coming years, further states the research report, “UAE Shared Mobility Market Analysis, 2021.”
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||Uber, DiDi Chuxing, Drive Now, Lyft, Ekar, and Udrive|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19 on the UAE Shared Mobility Market