Mobility on Demand Market 2018-2024 Key Players: Al-Futtaim, Avis Budget Group, Cabify, DiDi, Easy (Easy Taxi), Enterprise Rent-A-Car, Europcar, Gett, Grab, Hertz, Localiza Hertz, Lyft, Sixt, Uber, Zipcar, Drivy, ORIX Corporation, DriveNow GmbH & Co. KG
Mobility on Demand Market was over USD 100 billion in 2017, and is set to exceed USD 200 billion by 2024; according to a new research report by Global Market Insights, Inc. Mobility on demand market is expected t o grow over the forecast time span due to the increasing inclination of customers toward shared services rather than ownership. The costs of owning vehicles including components, such as insurance, repair & maintenance, and depreciation, are more than the sharing of vehicles.
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The governments in various developed economies including the U.S. and Germany are funding such projects to foster innovations and provide technical assistance to the industry players. For instance, the Federal Transit Administration (FTA) of the U.S. has signed an agreement with a national non-profit organization, Shared-Use Mobility Center (SUMC) to provision the successful implementation of these projects across the country.
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. For instance, Volkswagen UK formed a partnership with Zipcar to launch a new fleet of 50 Volkswagen GTE plug-in hybrid cars in London. These premium zero-emission cars encourage more people to choose electric instead of fossil-fuel-based cars.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Avis Budget Group
5. Easy (Easy Taxi)
6. Enterprise Rent-A-Car
11. Localiza Hertz
17. ORIX Corporation
18. DriveNow GmbH & Co. KG
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Mobility on Demand (MOD) Market, By Service
• Car sharing
o By business model
o By model
• Ride hailing
• Car rental
o Executive car
o Luxury car
o Economy car
Mobility on Demand (MOD) Market, By Application
The Asia Pacific mobility on demand market is expected to witness a strong growth in car sharing service segment, which is expected to reach over USD 2 billion by 2024 owing to the rapid urbanization in economies including India and China. China is witnessing increasing pressure to tackle traffic congestion and air pollution problems while India is facing problems pertaining to weak public transport infrastructure. Government organizations in India, China, Malaysia, and Singapore are stressing on undertaking measures to solve the traffic and pollution issues. The local governments of Qingdao, Shenzhen, Shanghai, and Beijing are supporting the adoption of services by offering parking lots and adding cars. In October 2015, the State Council encouraged the automotive manufacturers to develop and implement car sharing market services in the country.
The Europe MOD market is expected to witness growth at approximately 9% CAGR owing to the advanced automotive sector of Germany and the presence of key players such as BMW Group and Delphi Automotive PLC. Flinkster is a station-based car sharing provider, which exclusively operates in Germany. In June 2017, Delphi announced a strategic partnership with Transdev with an aim to develop a fully automated and intelligent transport system.
Key players in the mobility on demand market comprise Al-Futtaim, Autolib', Avis Budget Group, Cabify, CAR2GO, cambio CarSharing Deutschland, Cityhop cars by the hour, NZ's first carshare company, Communauto, DiDi, DriveNow GmbH & Co. KG, Drivy, Easy (Easy Taxi), Enterprise Rent-A-Car, Europcar, Getaround, Gett, Grab, Hertz, Localiza Hertz, Lyft, ORIX Corporation, Sidecar, Sixt, Uber, and Zipcar.
Browse key industry insights spread across 400 pages with 510 market data tables & 32 figures & charts from the report, Mobility on Demand Market in detail along with the table of contents:
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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