The global shared mobility market size is expected to hit around US$ 608 Bn by the end of 2027, growing at a CAGR of 8% over the period between 2020 and 2027. Based on the type of service, vehicle rental or leasing has emerged as a viable option for several population groups.
Shared mobility is a type of service in which a vehicle is shared based on the time and distance it is used in return for money. In shared mobility, a vehicle owner or the owner of a large fleet provides the vehicle on a rental basis to consumers and other companies. Shared mobility comprises sharing a car, a ride, a two-wheeler, and sharing trucks and buses.
Key driver of the global shared mobility market is low per capita income of people in developing nations. Shared mobility services provide short-term ownership to consumers at a significantly lower price, and hence, consumers prefer shared vehicles instead of owning one. A vehicle, if not shared, is only utilized for up to 5% of its total life; it remains parked for 95% of its life. Considering this, several vehicle owners are readily sharing their vehicles. Increase in number of vehicle owners has led to increased traffic congestion and rise in global emission levels.
The global demand for shared mobility services is increasing at a sturdy pace. Presence of a robust transport industry has helped in introducing new services within shared mobility. Furthermore, investments in the transport industry have further impelled the growth of the global market. The next decade would play a crucial role in the growth of the global shared mobility market, majorly due to the approval of several public transport projects across key regions. Benefits of shared mobility cut through key factors such as cost, energy efficiency, and traffic management. Therefore, the total volume of revenues within the global shared mobility market is expected to grow.
Benefits of Carsharing
A large population of people prefers carsharing over other modes of transport. This trend is gathering momentum in cosmopolitan cities, and could act as a launch pad for market growth. Therefore, the global shared mobility market is projected to tread along a lucrative growth track in the years to follow. Trend of carsharing and bike-sharing has gained greater prominence with the inception of cab-boking apps such as Ola and Uber. The option of taking shared rides on these apps has helped in popularising shared mobility services. Furthermore, investments public transport lines, including trams and metros, has also played a key role in market growth.
Growing Trend of Ride-Sharing amongst University Students
The trend of ride-sharing on bikes is common amongst college students and youngsters. Several universities provide easy options for students to book shared cars for their daily commute. This trend, coupled with the rising demand for better traffic management, has brought shared mobility services under the spotlight of attention. The unprecedented increase in the fleet of on-demand ride services has also emerged as a prominent driver of market demand. A number of experts in the automobile industry consider shared mobility services as a contributor to sluggish sales in the automobile market. However, this assertion has not affected the growth dynamics of the shared mobility market.
The Shared Mobility market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Shared Mobility market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Shared Mobility market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Shared Mobility market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Shared Mobility market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Shared Mobility capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Shared Mobility by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Shared Mobility market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Shared Mobility market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Shared Mobility market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Shared Mobility industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Shared Mobility market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Shared Mobility market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Shared Mobility market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Shared Mobility market. These factors have benefited the growth of the global market for Shared Mobility. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Shared Mobility. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global shared mobility market include Uber Technologies Inc., ANI Technologies Pvt. Ltd. (OLA), Lyft, Inc., Grab, Careem, Taxify OÜ, Gett, Beijing Xiaoju Technology Co, Ltd. (Didi Chuxing), BlaBlaCar, Wingz, Inc, Curb Mobility, Cabify, Europcar, The Hertz Corporation, Avis Budget Group, Inc., and Enterprise Holdings, Inc.
In this study, the years considered to estimate the market size of Shared Mobility are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Container Fleet Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive Sheet Metal Components Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive AC Compressor Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Autonomous and Semi-autonomous Tractors Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Air Powered Vehicle Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...