Press release
Mobility as a Service (MaaS) Market is Emerging with a CAGR of 36.4% by 2025 with Top Brands - Whim App, Moovel Group GmbH, QIXXIT, Splyt Technologies, Smile Mobility
Mobility as a Service (MaaS) Market
Also, Big Data and IoT invasion have added significant value to service providers in terms of provisioning the best-available services to the customers. Combining big data with new autonomous transport systems will enable opportunities to innovate and refine MaaS offerings. Younger people, who are the most likely to adopt new mobility models, are increasingly deciding to not own cars. Transport authorities are looking to new technology platforms to help them manage the use of their assets. The advancement of various technological platforms is foreseen to fuel the mobility as a service (MaaS) market in the coming years.
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Frequent travelers for inter-city, inter-state and inter-countries have to face various hassles with regards to planning and boarding different modes of transportation and thereby reach the intended last mile. Some modes of transportation provide node-to-node transportation service while the others provide last mile connectivity. Planning a trip in such circumstances where a traveler needs to hire three or more different modes of transportation requires lots of planning as well as time bound constraints. As a result of this, there has been increasing demands for more integration into the transportation systems for efficient, seamless and hassle-free travels as well as hassle free payments. MaaS enables individual users to make payments for the entire trip beforehand and also allows for monthly subscriptions for frequent travelers. This factor has been driving the mobility as a service (MaaS) market across geographies over the years. Similar trend is anticipated to drive the growth of mobility as a service (MaaS) market.
The mobility as a service (MaaS) market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. Currently, the mobility as a service (MaaS) market is experiencing staggering growth that has been by a numerous factor. The most significant factors that have impacted the growth of this industry are rapid urbanization and consequently more number of passenger cars on the roads leading to congestions and parking problems. Apart from the application platform providers, large automotive OEMs have announced their plans to invest in this large business opportunity. MaaS is expected to be a key driver in the growth and profitability of the automotive industry outpacing the profits earned by only manufacturing cars by these automakers.
Strategic Insights:
The market initiative and new development was observed as the most adopted strategy in global mobility as a service (MaaS) market. Few of the recent strategies by some of the players operating in mobility as a service (MaaS) market landscape are listed below:-
2017: Beeline powered GrabShuttle app with the collaboration of GovtTech and Land Transport Authority (LTA). This app is an open mobility platform which supports the data driven shuttle bus services
2017: Moovel North America announced its partnership with Google (US), TriMet (US), and INIT (Germany). This partnership will build the global First Virtu al Transit Fare Card in Android Pay
2017: Daimler acquired Flinc AG (Germany), through this acquisition Daimler will increases its mobility service portfolio. The ridesharing solution of Flinc’s are being used by many companies for improving and securing employee mobility
2017: Uber signed an agreement with Yandex N.V. (Russia), the joint venture between these two companies will form a new company for combining the Uber rides with EATS business. The company will serve these services in Belarus, Kazakhstan, Armenia, Georgia, Azerbaijan, and Russia
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