Press release
Mobility on Demand Market Regions Outlook, Trends, Segments and Leading Players: Al-Futtaim, Avis Budget Group, Cabify, Didi, asy Tax, Enterprise Rent-A-Car, Europcar, Grab, Lyft, Uber
Mobility on Demand Market
Transport forms a vital component of the travel industry for the sustainable growth of the sector. Using mobile technologies, travelers are seeking more freedom of movement, demanding advanced mobility solutions such as car rental services and positively impacting the mobility on demand market. Furthermore, several tourism & hospitality companies are offering services such as car rental and ride-hailing.
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Growing trend of adoption of electric and plug-in hybrid vehicles in shared transportation services is dominating the mobility on demand market. Increasing stringency of regulations regarding the emissions of hazardous greenhouse gases from the vehicles is compelling the drivers and fleet owners to opt for these environment-friendly alternatives. Various automobile manufacturers are forming strategic partnerships with mobility on demand vendors to promote the use of electric or plug-in hybrid cars.
The legalization of ride-hailing services, such as Uber and Grab, by the government of Malaysia will drive the mobility on demand market growth in the region. The government of Malaysia has made amendments to the Commercial Vehicles Licensing Board (CVLB) Act and Land Public Transport Act to allow the ride-hailing operators to work as an intermediary. The intermediary business license will allow these operators to facilitate transactions and booking of these services.
Technological advancements and the emerging IoT trend are further propelling the mobility on demand market growth. Rise in the number of connected vehicles and the increasing penetration of smartphones are anticipated to drive the industry. Various government organizations are focusing on encouraging digitalization for the overall economic growth. Technological developments, such as autonomous and AI-enabled vehicles, are expected to revolutionize the industry. Innovations, such as electric vehicles and GPS-based navigation systems, are anticipated to fuel the mobility on demand market growth.
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The mobility on demand market in business applications is poised to grow at a significant pace as these services help the corporate organizations to reduce the dependency on private fleets. Also, these services allow the organizations to significantly reduce fleet-related costs and optimize the fleet management. Companies such as Omoove and Ubeeqo provide these services to the corporations that are tailored according to their specific requirements.
The Germany mobility on demand market is expected to grow over the next six years due to the stringent regulations imposed on taxi drivers such as the obligation to operate taxi service and obligation to set rates. Increasing environmental consciousness and openness to innovations among the consumers are expected to drive industry growth. Several automobile companies in the country are entering the mobility on demand market to regain the declining positions due to the reduction in car ownership.
Key players operating in the mobility on demand market include Al-Futtaim, Autolib, Avis Budget Group, Cabify, Car2Go, Cambio CarSharing, CityHop, Communauto Inc., Didi Chuxing, DriveNow GmbH & Co. KG, Drivy, Easy Tax, Enterprise Rent-A-Car, Europcar, Getaround, Inc., Gett, Grab, Hertz Corporation, Localiza, Lyft, Inc, Orix Corporation, SideCar, Sixt, Uber Technologies, and Zipcar, Inc.
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