India Shared Mobility Market Size, Share and Demand Forecast Report

Shared transportation or shared mobility system combines the usage of private vehicles and mass or public transportation by allowing passengers to use an automobile either at once as a group or over time (such as bike sharing or carsharing) as a personal rental.

Additionally, it is a mobility plan that enables consumers to employ transportation services as required. The phrase "shared mobility" refers to a broad range of forms of transportation, including car-sharing, bike-sharing programs, carpools, ride-hailing services, and micro transit.

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The main driver of the market's growth is the affordable and practical mobility provided by shared mobility service providers. In addition, the providers handle extra costs like gasoline, insurance, maintenance, and parking, which lessens the total load on users.

Numerous start-ups in the shared mobility space were getting ready for new market opportunities and expanding their service offerings prior to the coronavirus epidemic.

Even in Tier 2 and Tier 3 cities, the industry has attracted a lot of consumer and business interest, particularly in micro-mobility. Additionally, in modern years, it has benefited greatly from public institutions and regulations, allowing it to penetrate even towns. Thus, the demand for India shared mobility is predicted to grow at a rapid pace in the future.

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The count of daily commuters has grown as a result of the rising population in the nation's largest cities, significantly congesting the roads, particularly during rush hours. To address this issue, some businesses are attempting to develop alternate mobility solutions.

This situation is a key factor in India's need for shared transportation. With the goal of lowering the number of automobiles on the road, the majority of metropolitan regions in the nation, particularly in metro areas like Mumbai, Delhi & NCR region, and Bengaluru, are taking steps to encourage everyday commuters to use sharing mobility services. This program significantly contributes to the decrease in traffic congestion.

For instance, Falcon Edge Capital and B Capital Group made a $72.0 million investment in the scooter rental firm Bounce in June 2019. In the next 12 to 18 months, the business plans to add 100,000 additional scooters to its fleet and increase its position in Indian cities.

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