North America Mobility as a Service Market Projected to Touch US$ 53.3 Bn by 2031 | Persistence Market Research Report

The North American Mobility as a Service (MaaS) market is experiencing significant growth, with projections indicating it will reach a valuation of US$ 53.3 billion by 2031. The market is driven by the rapid adoption of technology solutions aimed at enhancing urban mobility, improving transportation efficiency, and reducing carbon footprints. MaaS refers to the seamless integration of various transportation services into a single accessible and customer-friendly platform, offering users multi-modal transport options. This platform allows consumers to plan, book, and pay for transportation services such as public transit, ride-sharing, taxis, and car rentals, all through one application.

Key growth drivers in the North American MaaS market include the increased demand for efficient urban mobility solutions, especially in large metropolitan areas. Moreover, the rising focus on reducing traffic congestion, greenhouse gas emissions, and promoting sustainability is accelerating the adoption of MaaS platforms. The market is also benefitting from the ongoing digital transformation in the transportation industry, as well as from government initiatives supporting smart city infrastructure. The United States and Canada are leading the charge in MaaS adoption, with cities like New York, San Francisco, and Toronto pioneering the integration of MaaS solutions into their public transport networks.

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): www.persistencemarketresearch.com/samples/34983

Key Highlights from the Report

• The North American MaaS market is expected to reach US$ 53.3 billion by 2031.
• The market is growing at a robust compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
• The integration of smart technologies and multi-modal transport options is a key driver.
• Ride-sharing services are projected to dominate the MaaS market in North America.
• Government initiatives supporting smart cities are accelerating MaaS adoption.
• The U.S. leads the MaaS market, driven by its large urban population and technological adoption.

Market Segmentation

The North American MaaS market can be segmented based on mode of transportation, end-user, and service type. The mode of transportation segment includes services such as public transportation, ride-sharing, car rental, and shared mobility solutions. Ride-sharing services, including platforms like Uber and Lyft, are anticipated to dominate the market due to their high adoption rates and convenience for users. As more consumers opt for shared mobility, MaaS platforms are integrating ride-hailing services into their offerings, contributing to the overall market growth.

The end-user segment is categorized into individual consumers, businesses, and government entities. Individual consumers represent the largest share of the market, as MaaS platforms are primarily designed to enhance personal urban mobility. Businesses are increasingly adopting MaaS solutions for employee transport management and logistics operations, especially in cities with heavy traffic. Government entities are also significant players, as they are integrating MaaS solutions into public transportation systems to reduce congestion, improve mobility, and foster sustainable urban development.

Regional Insights

The United States holds the largest share of the North American MaaS market, driven by its advanced technological landscape, high smartphone penetration, and well-established urban centers. Cities like New York, Chicago, and San Francisco are at the forefront of MaaS integration, with widespread adoption of multi-modal transport options. The U.S. government is actively supporting smart city initiatives, which have accelerated the adoption of MaaS solutions, with infrastructure investments focusing on improving transportation networks and reducing traffic congestion.

Canada is also witnessing substantial growth in the MaaS sector, with cities like Toronto and Vancouver leading the way in integrating MaaS solutions into public transport systems. The Canadian government has placed emphasis on sustainable transportation and has supported MaaS initiatives to create environmentally friendly, efficient, and user-friendly mobility systems. This aligns with the country's commitment to reducing its carbon footprint and promoting clean energy initiatives.

Market Drivers

The North American MaaS market is propelled by several key drivers, one of which is the increasing need for efficient urban mobility solutions. Rapid urbanization, especially in large cities, has led to increased traffic congestion, prompting governments and businesses to look for innovative transportation solutions. MaaS platforms provide a seamless and cost-effective way for consumers to access various transport options, ultimately alleviating congestion and reducing travel times.

Another major driver is the growing environmental awareness and the desire to reduce carbon emissions. MaaS encourages the use of shared mobility services like ride-sharing and carpooling, which can significantly reduce the number of vehicles on the road and lower overall emissions. With governments in North America focusing on environmental sustainability, MaaS solutions are becoming increasingly attractive as part of green transportation strategies. Additionally, the ongoing digital transformation and adoption of smart technologies are enabling MaaS solutions to become more integrated, accessible, and efficient, further fueling their growth.

Market Restraints

While the North American MaaS market holds significant growth potential, it also faces some challenges. One major restraint is the complex regulatory environment across different regions. MaaS involves the integration of multiple transport providers, which often requires navigating various local, state, and federal regulations. This can make it difficult to create a cohesive, standardized MaaS experience across the region, particularly when it comes to public transportation systems.

Another restraint is the reliance on private transportation providers such as ride-sharing companies, which may create issues related to pricing, competition, and service availability. Additionally, privacy concerns around the collection of user data on MaaS platforms may hinder some users from fully embracing these solutions. To overcome these barriers, companies operating in the MaaS space must work closely with regulatory bodies to ensure compliance and implement robust data protection measures to safeguard user privacy.

Market Opportunities

The North American MaaS market is rife with opportunities for growth and innovation. One significant opportunity lies in the increasing adoption of electric vehicles (EVs) within MaaS platforms. As the demand for clean energy solutions rises, MaaS providers are integrating EVs into their fleets, which can help reduce carbon emissions and cater to environmentally conscious consumers. This transition to electric fleets is expected to be a major driver of growth in the MaaS sector.

Another opportunity stems from the rising demand for autonomous vehicles (AVs). With advancements in self-driving technology, MaaS platforms can offer users even more convenient, safe, and cost-effective transportation options. The integration of AVs into MaaS platforms has the potential to revolutionize urban mobility, offering a fully autonomous, seamless experience for consumers. Furthermore, the expansion of MaaS solutions into rural and suburban areas presents an untapped market, providing MaaS providers with the chance to extend their services beyond major urban centers.

Reasons to Buy the Report

✔ Understand the current market dynamics and growth trends in the North American MaaS market.
✔ Gain insights into the key drivers, restraints, and opportunities shaping the MaaS sector in the region.
✔ Identify the most promising segments within the MaaS market, including transportation modes and end-users.
✔ Analyze the competitive landscape and identify leading players in the North American MaaS market.
✔ Access a comprehensive overview of regional market dynamics and forecasts for the coming years.

Frequently Asked Questions (FAQs)

1. How Big is the North American Mobility as a Service Market?
2. Who are the Key Players in the North American MaaS Market?
3. What is the Projected Growth Rate of the MaaS Market in North America?
4. What is the MaaS Market Forecast for 2031?
5. Which Region is Estimated to Dominate the Mobility as a Service Market through the Forecast Period?

Company Insights

Key players in the North American Mobility as a Service market include:
• Uber Technologies Inc.
• Lyft Inc.
• Daimler AG
• BMW Group
• Moovel GmbH (A Daimler Company)
• ReachNow, Inc.

Recent Developments

1. Uber Technologies Inc. launched a MaaS platform that integrates ride-sharing, bike-sharing, and public transport services in multiple cities across North America, enhancing user convenience and reducing reliance on personal cars.
2. Lyft Inc. has expanded its MaaS platform, partnering with municipalities to integrate bike and scooter-sharing services with ride-hailing, contributing to greener urban mobility solutions.

Conclusion

The North American Mobility as a Service (MaaS) market is poised for substantial growth, driven by technological innovations, urbanization, and an increasing emphasis on sustainability. With rising demand for efficient and eco-friendly transportation solutions, MaaS is reshaping the way people commute, offering seamless integration of different mobility services. As cities continue to grow and evolve, MaaS platforms will play a crucial role in solving transportation challenges, driving convenience, and reducing environmental impact. The market presents exciting opportunities for both established players and new entrants, and with continued advancements in electric and autonomous vehicles, the future of MaaS looks promising in North America.

Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.