Mobility-as-a-service market size to grow by USD 456.64 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Dec. 6, 2022 /PRNewswire/ — Technavio categorizes the global mobility-as-a-service market as a part of the application software market, the parent market. The parent global application software market covers companies that are engaged in developing and producing application and system software. The global mobility-as-a-service market size is estimated to increase by USD 456.64 billion from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 33.84%.

Discover some insights on market size before buying the full report. Request a Sample

Vendor Offerings –

• Beeline.com Ltd.: The company offers mobility-as-a-service such as employee shuttle.

• Beijing Xiaoju Technology Co. Ltd.: The company offers mobility-as-a-service such as taxis, hitch, and bikes.

• Communauto Inc.: The company offers mobility-as-a-service such as taxis, and shared cabs.

• GoEuro Corp.: The company offers mobility-as-a-service such as taxis, and shared cabs.

• Greenlines Technology Inc: The company offers mobility-as-a-service such as taxis, and shared cabs.

• For Details on vendors and their offerings – Buy the report!

Global Mobility-as-a-Service Market – Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

Global Mobility-as-a-Service Market – Vendor Analysis

Vendor Landscape – The global mobility-as-a-service market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer mobility-as-a-service in the market are Beeline.com Ltd., Beijing Xiaoju Technology Co. Ltd., Communauto Inc., GoEuro Corp., Greenlines Technology Inc, Kyyti Group Ltd, Lyft Inc, Mercedes Benz Group AG, Mobilleo, moovel North America LLC, Moovit Inc, SkedGo Pty Ltd., and others.

The global mobility-as-a-service market is at its growing stage. The companies cater to the specific requirements of their clients by offering them customized cab services, such as ride-sharing services, defined-route cab services, luxury car cab services, and car rental services for tourists and corporate clients. At present, the major competition comes from e-hailing apps, such as Uber and Ola, which connect riders with independent drivers that use their own vehicles. However, such cab service operators have begun to exert intense pressure on the traditional yellow taxi model. Such factors will increase the market growth during the forecast period.

Story continues

Global Mobility-as-a-Service Market – Segmentation Assessment

Geography Overview

Based on geography, the global mobility-as-a-service market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global mobility-as-a-service market.

• APAC account for 45% of the global cloud data warehouse market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. Rising urbanization, growing disposable income in countries such as China, Japan, India, and Australia, and an increasing population in the age group of 15-64 years, which is the target customer base, are expected to propel the growth of the MaaS market in APAC during the forecast period.

Segment Overview

Based on service, the global mobility-as-a-service market is segmented into ride-hailing, car sharing, and others.

• The market share growth of the ride-hailing segment will be higher than the other segments during the forecast period. Ride-hailing services reduce waiting times, increase the convenience of hailing a cab, and provide real-time location updates using global positioning systems for customers. Moreover, with innovative and technologically advanced pricing algorithms, better customer service, and most importantly, user-friendly app designs and services, ride-hailing car services have been gaining traction, particularly among Millennials. These factors will lead to the exponential growth of the global ride-hailing services market during the forecast period.

Download a sample report

Global Mobility-as-a-Service Market – Market Dynamics

• Impactful Driver – The increase in the use of smart connected devices is notably driving market growth. As the number of smart devices increases, it becomes more difficult to manage, monitor, and maintain the data that is generated in an organization. Thus, the demand for M2M and M2H communications will rise as they help end-users simplify the management, monitoring, and maintenance of connected devices. These technologies help in the efficient monitoring and managing of physical assets in many sectors. The surge in the number of connected devices across the globe is a major factor that drives the demand for Maas. Such factors will increase the market growth during the forecast period.

• Key Trend – Ongoing efforts for the development of autonomous vehicles are the key trend in the market. Commercial autonomous vehicles are expected to reduce the cost of point-to-point travel, ease traffic congestion, and make travel safer and more convenient. The integration of these features with seamless trip planning and payments is expected to be a key driver for the greater adoption of MaaS platforms. The advent of better cellular communication technologies and high-speed processing equipment is expected to result in the commercial deployment of level 4 and level 5 autonomous vehicles, which are completely automated vehicles. Corporations are in the phase of developing such fully autonomous vehicle technologies influx of more such services is expected to drive the popularity of MaaS during the forecast period.

• Major Challenge – The need for high initial investments in infrastructure is a major challenge impeding market growth. Nowadays controlling and monitoring ongoing projects have become a concern, owing to the high costs of the data-capturing devices installed in and on vehicles. Information technology-enabled services (ITES) support the public sector by reducing the costs involved in maintaining IT infrastructure. Hence, governments outsource these services. In addition, the price of MaaS applications includes the cost of licensing, system design and customization, implementation, and upgrades. Also, the proper implementation and functioning of MaaS solutions require the services of experts. Moreover, the integration of these applications with existing operational processes at airports, railway stations, and bus stations can be quite challenging.

Driver, Trends, & Challenges are the factors of market dynamics, which state about consequences & sustainability of the businesses. Find a few insights from a sample report!

What are the key data covered in this mobility-as-a-service market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the mobility-as-a-service market between 2023 and 2027

• Precise estimation of the size of the mobility-as-a-service market size and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the mobility-as-a-service market industry across APAC, North America, Europe, Middle East and Africa, and South America

• Thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of mobility-as-a-service market vendors

Register for a trial today and gain instant access to 17,000+ market research reports. 
Technavio’s SUBSCRIPTION platform

Related Reports:

• The firewall as a service market is estimated to grow at a CAGR of  19.9% between 2022 and 2027. The size of the market is forecast to increase by USD 1.06 billion. The market is segmented by end-user (BFSI, healthcare, retail, education, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The home service market in US  is estimated to grow at a CAGR of 36.22%. The size of the market is forecast to increase by USD 1.08 billion. The market is segmented by distribution channel (online and offline) and type (home care and design, repair and maintenance, HW and B, and others).

Table Of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Service

7 Market Segmentation by Vehicle Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

 About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/mobility-as-a-service-market-size-to-grow-by-usd-456-64-billion-from-2022-to-2027-a-descriptive-analysis-of-customer-landscape-vendor-assessment-and-market-dynamics—technavio-301694572.html

SOURCE Technavio