Mobility on Demand Market : Distinguished Players – Uber Technologies, Lyft, Didi Chuxing, Turo, Car2Go, Autolib, Drivy, Grab, Hertz, Drive Now

How would Mobility on Demand market gain traction through 2026?

Surging demand for alternative transportation options over private vehicles is expected to drive global mobility on demand market growth. Service providers worldwide are looking for investments from automakers, governments, and investors to roll out flexible service portfolios and expand their business reach.

Automakers meanwhile are collaborating with other industrial entities to introduce numerous ride-hailing, car sharing, and car rental platforms to offer mobility services. For instance, in Apr. 2019, Enterprise Holdings declared plans to introduce a new car subscription service, which would enable consumers to pay a monthly fee for its six-vehicle options.

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In addition to that, enhanced consumer flexibility and security offered by newly developed mobility services providers have accelerated mobility on demand market growth. On this note, Global Market Insights, Inc. predicts that the mobility on demand market could become USD 250 billion industry by 2026.

How are industry participants contributing to mobility on demand (MoD) market growth?

Technological advancements and changing environmental & social needs are reshaping mobility on demand market growth. Industry participants are spending heavily on innovations to develop efficient and convenient service models.
Reportedly, the Federal Transit Administration has started a mobility on demand initiative to build automated, efficient, connected, and integrated transportation systems that delivers tailored mobility options. Moreover, governments worldwide are promoting on-demand mobility options to decrease traffic congestion and maintain favourable environmental conditions.

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Why is there an increasing demand for on-demand mobility solutions?

Surging automobile prices and the cost of ownership of advanced vehicles have restricted consumers from purchasing new vehicles. These factors have compelling consumers to opt for on-demand mobility solutions. Apart from this, a noticeable size of working population demands for time-reliable and flexible mobility solutions, which has in return fuelled the mobility on demand market growth.

Notably, prominent industry players operating in this market include Grab, Drivy, Didi Chuxing, Daimler AG, Enterprise Holdings, Uber Technologies, Lyft, Zipcar, Delphi Automotive, Localiza Rent a Car S.A., Hertz Corporation, Gett, Getaround, Inc., Europcar Mobility Group, Enterprise Rent-A-Car, Easy Taxi, Communauto, Inc., Avis Budget Group, Autolib, and Al Futtaim Vehicle Rentals.

What are the key factors driving North America mobility on demand market growth?

On a regional front, North America is expected to offer lucrative growth opportunities to the mobility on demand market. MoD services provide numerous benefits to consumers, such as eliminates the need for extra financial funds like vehicle lease, repair, maintenance, and insurance. Companies operating in North America are incorporating corporate mobility on-demand solutions to retain and attract employees without incurring high transportation costs.

In addition to that, a large consumer base, especially the millennial generation, is inclined towards opting these services. North America also has a strong presence of market players like Zipcar, Lyft, and Maven. Presence of ideal work conditions, like ease in setting up a business, has encouraged introduction of such firms in the region. These factors could significantly fuel mobility on demand market growth in North America.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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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