The mobility-as-a-service market will reach USD 519,697.5 million, advancing at a 16.8% compound annual growth rate, by 2030.
The growth of the industry can be attributed to the increasing worries of greenhouse gas emissions, convenience and cost-effectiveness of MaaS, increasing initiatives of the governments, and growing issues of urban road congestion.
Moreover, the mounting rate of urbanization in emerging economies is likely to worsen the congestion of traffic on roadways in the years to come. For instance, by 2050, 68% of the worldwide population would live in cities. Mobility-as-a-service can benefit in decreasing traffic congestion by effectively using existing private and public transportation infrastructure.
In recent years, the daily commuting category, based on commuting patterns accounted for the largest mobility-as-a-service market share, and it will advance at the highest rate, of over 17%, in coming years. This is primarily because of the growing requirement for shared mobility services among younger people, for instance, young professionals and students, to meet their daily commuting requirements.
In the past few years, the car category, based on vehicle type, lead the industry. This is mainly because of the early arrival of carsharing and car rental services. Additionally, the advanced value chain and regulatory support in several nations have boosted the requirement for carsharing and car rental services.
APAC dominated the mobility-as-a-service industry in recent years. China remains to be the largest industry for shared mobility services all over the world. This can be attributed to the increase in the adoption of electric vehicles across several platforms in many cities of China, to encourage a greener environment.
Moreover, with constant government support in the form of incentives and policies, the Chinese industry will further observe robust advancement in the years to come.
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