Mobility as a Service Market Size, Share, Forecast Report – 2030

The mobility as a service market is projected to grow at a CAGR of 31.7% from 2020 to 2030, and the market size is expected to grow from USD 6.8 billion in 2020 to USD 106.8 billion by 2030. MaaS offers efficient solutions to move traffic in more convenient, faster, and less expensive manner. Also, the rapid growth of the telecom sector, widespread penetration of smartphones on 3G, 4G, and 5G networks, and high connectivity levels will facilitate the growth of this market.

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Ride hailing is expected to be the largest segment of mobility as a service market, by service type, during the forecast period

The ride hailing segment is expected to witness highest growth owing to its global acceptance at all levels-from personal to enterprises need. The ease of booking and passenger comfort offered by ride hailing are the major reasons for its popularity. It can also be easily integrated with the public transportation as it is an on-demand transportation service. It has a domimant share in the ride sharing market because of these factors and subsequently will have dominant share in the MaaS market as well.

Insurance services are the fastest growing segment in the MaaS market, by solution type

The move towards mobility as service market is gaining momentum but it is still too early to predict with certainty that how it will affect the dynamics of auto insurance services market. The present model of insurance is likely to be replaced by commercial insurance of fleets of MaaS vehicles. MaaS providers can offer completely new services by efficiently leveraging their data and customer access. The insurance services market will see remarkable growth with the growth of the MaaS market.

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Europe is expected to account for the largest market size during the forecast period for Mobility as A Service Market

Europe is the largest market owing to the dominance of some of the leading vendors such as Whim, Citymapper, Tranzer, and Moovel. Also, developed economies in Europe such as Finland, the Netherlands, and Germany are the early adopters of MaaS services. Countries such as the UK, Germany, France, and the Netherlands have been investing in smart transportation infrastructure. The planned investments to improve urban transport and traffic infrastructure are expected to drive the European MaaS market.

Key Market Players

Some of the key players in the mobility as a service market are Whim (Finland), Citymapper (UK), Moovit (Israel), Mobilleo (England), Skedgo (Australia), Ubigo (Sweden), Smile mobility (Australia), Splyt (UK), Qixxit (Germany), and Beeline (Singapore). Whim is one of the established players and a globally renowned service provider of MaaS. The company follows the strategy of expansion and supply contracts/partnerships to gain a competitive edge in the MaaS market. In July 2017, Nextbike, the world’s most extensive bikeshare provider, partnered with Whim.

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This release was published on openPR.