Mobility as a Service Market (By Service Type: Ride Hailing, Car Sharing, Micromobility, Bus Sharing, Train Services; By Solution Type; By Transportation Type; By Vehicle Type; By Application; By Operating System; By Business Model; By Propulsion Type; By Mode; By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global mobility as a service market was valued at USD 230.1 billion in 2022 and it is predicted to surpass around USD 1,121.28 billion by 2032 with a CAGR of 17.16% from 2023 to 2032.

Key Pointers

• Passenger cars segment is expected to account for a larger revenue share during the forecast period. Increasing penetration of Transport Network Companies (TNCs) such as Uber, Lyft, and Zipcar have resulted in increasing demand for passenger cars.
• Electric vehicle segment is expected to lead in terms of revenue growth rate during the forecast period. Increasing capability of transmitting location details and State of Charge (SoC) elements to the central data system is expected to boost the demand for EVs.
• Ride-hailing segment is expected to expand at a rapid CAGR during the forecast period. Increasing penetration of internet and rising cost of vehicle ownership is expected to boost demand for ride-hailing services. 
• Insurance services segment is expected to lead in terms of revenue growth rate during the forecast period owing to increasing cost of property damage, road accidents, trip cancellations, and delays.
• Android segment is expected to register a significantly rapid revenue growth rate during the forecast period owing to increasing adoption of smartphones with lower prices and a variety of features.
• On the basis of transportation, Private segment is expected to lead in terms of revenue contribution to the market over the forecast period owing to increasing urbanization and fall in car ownership. Increasing need for comfortable, safe, hygienic, and personalized choices of traveling is expected to boost demand for private transportation.
• Business to Customer (B2C) segment is expected to register a significantly rapid revenue growth rate during the forecast period. Increasing use of electric and automated vehicles and customized services such as easy booking, trip planning, scheduling, ticketing, and payment interface are expected to boost the demand for B2C segment. 
• Dynamic journey management segment is expected to lead in terms of revenue contribution to the global market over the forecast period. Dynamic journey management provides users with journey options based on real-time, predictive, and scheduled data, based on data algorithms, which is expected to drive the revenue growth of the segment over the forecast period.
• Asia Pacific is expected to dominate the mobility as a service market share during the forecast period and was valued at USD 74.5 billion in 2022. The rising cost of vehicle ownership, rapid urbanization, and increasing fuel prices, especially in countries, such as India and China, are some of the market growth factors expected to help Asia Pacific continue dominating the market in the forecast period.
• North America is anticipated to hold the second-largest position in the market during the forecast period. Growing awareness among consumers regarding rising emission and growing traffic congestion are the major factors helping this region maintain its position in the market.

Report Scope of the Mobility as a Service Market

Increasing need for decreasing congestion on urban roads and for reducing costs per user are some of the key factors expected to continue to drive global MaaS market revenue growth during the forecast period.

Increasing need for reducing journey time is expected to drive revenue growth of global MaaS market to a significant extent going ahead. Rapidly increasing population has led to increasing traffic congestions. Increasing need for reducing congestions on urban roads is expected to boost the demand for MaaS. MaaS includes ride-hailing, car-sharing, micro-mobility, bus sharing, and train services that result in reducing the number of vehicles on the road, which will help in reducing traffic congestion and reducing emissions. Therefore, the concept of MaaS is also necessary for maintaining the green balance. As a result, the adoption of MaaS is expected to expand exponentially in urban roads in near future. The MaaS minimizes time for the journey by predicting the suitable route, improving fuel efficiency, and increasing convenience for the passengers. In addition, increasing need for real-time data used to plan and facilitate passenger journeys and increasing need to reduce road collisions, and fatalities are expected to drive market revenue growth over the forecast period.

Increasing fuel cost is the major problem in the transportation industry. Mobility services such as ride-hailing, car-sharing, and micro-mobility, among others, are the best solutions for achieving fuel efficiency. These services are transforming transportation and mobility by offering environmental benefits and lowering costs per user. In addition, it is highly expensive to own and maintain a personal vehicle. Therefore, increasing need for mobility services that provide convenient, effective, and secure modes of transportation is expected to drive the market revenue growth during the forecast period.

However, lack of willingness of users to use MaaS, lack of policies, standards, economic models, and concerns regarding data privacy and security are among some of the key factors expected to hamper global MaaS market revenue growth to some extent over the forecast period. Mobility services are considered as an alternative to traditional mode of transportation only in an emergency and there are concerns about security breaches, which results in limiting the use of mobility services. Therefore, governments of all countries should conduct public awareness campaigns to educate people about the benefits of mobility services. In addition, lack of interest in using mobility services among elderly people and lack of internet infrastructure in rural parts of different countries is hampering the market growth.

Mobility as a service on the basis of geographical regions with emerging under developed countries with new developments and features in mobility as a service management. Asia pacific to be at the top position to hold the market growth and increase the revenue share to boost the market of mobility as a service. North America, Europe, Latin America, Middle East and Africa to hold the highest position of mobility as a service with increasing demands due to increased population.

Mobility as a Service Market Segmentations: