Mobility as a Service Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global mobility as a service (MaaS) market is anticipated to grow at a significant CAGR of 26.2% during the forecast period (2022-2028). MaaS is a type of transportation that is integrated into a single intuitive mobile application and is operated on a digital platform that handles and integrates booking, end-to-end trip planning, electronic ticketing, and payment services across all modes of transportation, including the public and private sector.

The market is driven by rising penetration of smartphones on 3G, 4G, and 5G networks, high connectivity levels, and growth in cashless payment systems. Moreover, rising urbanization puts more strain on transportation infrastructure, and the demand for a one-stop shop to meet all of one's transportation demands is fueling the growth of the market. Furthermore, the market is expected to benefit from improving technological infrastructure and simple access to data from all around the globe.

The Asia-Pacific is the largest market for MaaS due to the presence of major market players, such as Whim, Citymapper, Tanzer, and Moovel. In addition, developed economies, such as Singapore, South Korea, and Japan were among the first to implement MaaS services. These countries have made sensible transportation infrastructure investments. The market is further likely to be driven by planned investments to improve urban transportation and traffic infrastructure with increased digitalization, which has resulted in efficient ride reservation and tracking systems.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

•In June 2021, Grab, a mobility services provider, strengthened its relationship with Hyundai in order to promote MaaS usage and expedite EV adoption, particularly in Singapore, Indonesia, and Vietnam.
•In May 2021, Uber, Mobilize, and BlaBlaCar have teamed up to develop and launch a sustainable mobility services project aimed at improving urban mobility, particularly in Europe.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Service Type
•By Vehicle Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Uber Technologies Inc., Lyft, Inc., Alliance Corp., Xerox Holdings Corp., Splyt Technologies Ltd., and Transit Systems Group, among others.

A full report Mobility as a Service Market of is available at:  https://orionmarketreports.com/mobility-as-a-service-market-2/106792/

Global Mobility as a Service Market Report by Segment
By Service Type
•E-Hailing
•Bike Sharing
•Car Sharing
•Pop-Up Busses
•Self-Driving Cars
By Vehicle Type
•Buses
•Car
•Air-Flights
By Application
•Personalized Application Services
•Dynamic Journey Management
•Flexible Payments
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.