Mobility as Service (MaaS) Market 2018 to 2023 | Global Key Players: BMW Group, Alliance Corporation, Apple Inc., Xerox Corporation, Lyft, Uber Technologies, MaaS Global, Deutsche Bahn
The Global Mobility as a Service Market is growing with the rapid pace mainly due to the high travel demand on transport networks and increasing need of both workplaces and employees that may support a reducing the traffic in peak hours. According to a recent study report published by the Market Research Future, The global market of Mobility as a Service is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2023).
The smartphone and the evolution of big data are the driving factors of the Mobility as a Service Market growth. With this technological evolution, the companies are investing into these services. The smartphones generates the data which is required to manage a system that combines public and private transport as well. The smart city concept is becoming a big opportunities for the companies to implement their services of Mobility as a Service across the world. With these services, the companies are offering convenient services to the consumers to avail these services with low cost at massive time saver process. It will reduce the number of private cars, as alternative transport options become more integrated. These services are widely used as a private, public and commercial transportation.
According to MRFR, The global Mobility as a Service market is expected to reach approximately USD 253.16 billion by 2023 growing with a 36% CAGR over the forecast period 2017-2023.
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Major Key Players
Some of the key players of Mobility as a Service market include BMW Group (Germany), Alliance Corporation (Canada), Apple Inc. (U.S.), Xerox Corporation (U.S.), Lyft, Inc.(U.S.), Uber Technologies Inc. (U.S.), MaaS Global (Finland), Deutsche Bahn (Germany), Daimler AG (Germany), and Communauto (Canada).
Some other vendors for involved in mobility as a service market are Car2go (U.S.), Hailo (U.K.), Bridj (U.S.), Ola (India), Ridepal (U.S.), Make My Trip (India)
The Market of Mobility as a Service appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of Mobility as a Service targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to invent new Mobility as Service modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among Mobility as Service Equipment industry marketers on inbound lead generation over branding-oriented efforts.
North-America is dominating the Global Mobility as a Service Market with the largest market share and is expected to grow over its previous growth records by 2023. The advancements in ease of transportation system to handle traffic control and cover the distance in time is propelling the growth of Mobility as a Service in these regions. Mobility as a Service Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 as MaaS is providing best services to travel and security to the travellers which is increasing the demand for mobility as a service in the region. The European market for Mobility as a Service Market is expected to grow at a considerable CAGR (2017-2023).
The Mobility as a Service industry is segmented by online mobility systems, services, end-users, and region. The online mobility system are sub-segmented into bus, cab, flight. Service by E-hailing services, bike sharing, car sharing, pop up bus services, self-driving car. Out of this car sharing will lead the market. End users divided by public and private sectors.
The regional analysis of market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is leading the market due to technological advancements in transportation systems. Followed by Europe, it is predicted that during forecast period market for this region will grow rapidly. Asia-Pacific will show fair growth as concept is still emerging in this region but it will grow strongly in coming years.
• System Security
• Software investors
• Mobility as a Service solution vendors
• Mobility as a Service Providers
• Network providers
• Transportation providers
• Data providers
• Transport operators
• Transport Tracking
• MaaS Service providers
• Value-added Resellers
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