North America Mobility as a Service Market to Surge from US$ 27 Billion in 2024 to US$ 53.3 Billion by 2031 at 10.2% CAGR | Persistence Market Research

The North America Mobility as a Service (MaaS) Market is witnessing a substantial transformation, with a projected valuation of US$ 27 billion by 2024. This market is anticipated to expand significantly, growing at a CAGR of 10.2% from 2024 to 2031, ultimately reaching a value of US$ 53.3 billion by 2031. As consumers increasingly shift towards more sustainable, efficient, and flexible transportation options, MaaS platforms are rapidly gaining traction. These platforms are revolutionizing how people move by integrating various modes of transport into a single, accessible service, offering seamless travel experiences and contributing to the rise of smart cities.

The growing adoption of MaaS in North America reflects broader global trends toward urban mobility solutions that provide on-demand, cost-effective, and environmentally friendly transportation options. With the rise of shared mobility, electric vehicles (EVs), autonomous vehicles, and advanced technologies such as drones and autonomous shuttles, MaaS is poised to offer more diverse and flexible transportation choices for users.

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✅ Overview of the Market, Market Statistics, Key Growth Drivers, and Leading Segment

The North American MaaS market is on a strong growth trajectory, fueled by the increasing demand for integrated, multimodal transportation solutions. The market is projected to reach US$ 27 billion by 2024, with an impressive CAGR of 10.2% over the forecast period, bringing it to a total value of US$ 53.3 billion by 2031. This growth is driven by a combination of factors, including urbanization, increasing traffic congestion, growing environmental concerns, and the push for more sustainable mobility solutions.

MaaS platforms are becoming central to the transportation ecosystem by allowing users to access multiple modes of transport (public transit, taxis, ride-sharing, car rentals, bikes, and even electric scooters) through a single application or service. The increasing demand for seamless, on-demand transportation and the integration of new technologies such as autonomous shuttles, drones, and even walking recommendations are contributing to the market's expansion. Additionally, there is a heightened focus on reducing carbon emissions and creating efficient, eco-friendly transport solutions in line with global sustainability goals, which is further accelerating the demand for MaaS.

✅ Key Highlights from the Report:

➤ The North American MaaS market is projected to reach US$ 27 billion by 2024 and US$ 53.3 billion by 2031.
➤ The market is expected to grow at a CAGR of 10.2% during the forecast period.
➤ Integration of new transportation modes, including autonomous shuttles and drones, will drive future growth.
➤ The increasing adoption of electric vehicles (EVs) and shared mobility is positively influencing market dynamics.
➤ Partnerships between technology companies and transportation providers are creating innovative MaaS solutions.
➤ Growing concerns over urban congestion and environmental sustainability are pushing the demand for MaaS solutions.

📊 Market Segmentation

The North American MaaS market can be segmented based on mode of transportation, platform type, end-user, and deployment type.

Platform Type:

MaaS platforms can be either open or closed. Open platforms allow a wide variety of mobility service providers to integrate into the system, while closed platforms are typically operated by a single transportation provider or group of providers, offering more limited options to users.

The open platform segment is likely to dominate in North America, with leading MaaS providers collaborating with various partners from different transportation sectors to create seamless user experiences.

End-User:

The end-user segmentation of the MaaS market includes businesses (corporate travel solutions) and individual consumers. As urban populations grow, MaaS platforms are becoming a convenient option for daily commuting, leisure travel, and business travel, offering both B2B and B2C solutions.

Deployment Type:

MaaS solutions can be deployed either through cloud-based platforms or on-premise installations. Cloud-based MaaS solutions are rapidly gaining ground due to their scalability, flexibility, and ability to provide real-time data processing, making them the preferred choice for many MaaS providers.

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📊 Regional Insights

North America is home to some of the world's largest and most sophisticated MaaS markets. In the United States and Canada, urban centers are increasingly adopting MaaS solutions to address challenges related to urbanization, congestion, and environmental sustainability. Cities like Los Angeles, New York, and Toronto are at the forefront of MaaS development, with local governments and private enterprises focusing on creating multimodal transport networks that are interconnected and user-friendly.

In particular, California is a key region driving the growth of MaaS, supported by its progressive stance on electric vehicles (EVs) and autonomous vehicle technology. California's ambitious sustainability goals and innovative policies make it a leader in integrating green technologies into urban transport solutions.

Additionally, Canada's commitment to reducing emissions and promoting clean energy is fostering an environment conducive to the growth of MaaS, especially in cities like Vancouver and Montreal, where public transport systems are increasingly being integrated with shared mobility options.

✅ Market Drivers

Several factors are driving the growth of the MaaS market in North America:

Urbanization and Traffic Congestion: As urban populations grow, cities face increased traffic congestion, which is making traditional private car ownership less appealing. MaaS platforms offer consumers the flexibility to use different modes of transport, reducing the need for individual car ownership and easing traffic congestion.

Sustainability and Environmental Concerns: With a growing focus on sustainability and reducing carbon emissions, MaaS platforms that integrate electric vehicles (EVs) and shared mobility options help reduce the environmental impact of transportation. Cities are also increasingly adopting MaaS to comply with green transportation goals and policies.

Technological Advancements: The integration of autonomous vehicles, drones, and advanced data analytics into MaaS platforms is increasing the appeal of these services. Consumers are looking for more convenience and efficiency, and these technologies enable MaaS providers to offer personalized recommendations, route optimization, and more flexible transport options.

Government Support and Regulation: Government initiatives, such as the promotion of clean energy, electric vehicles, and smart city solutions, are supporting the growth of MaaS in North America. Policy frameworks and subsidies for clean transportation infrastructure also play a critical role in fostering the MaaS ecosystem.

✅ Market Restraints

While the MaaS market has significant potential, several challenges could hinder its growth:

High Initial Investment: Developing a comprehensive MaaS platform that integrates various modes of transportation can require significant investment in technology infrastructure, partnerships, and regulatory compliance. The high cost of implementation could deter some potential service providers from entering the market.

Data Privacy and Security Concerns: As MaaS platforms rely heavily on user data to offer personalized services, concerns around data privacy and cybersecurity remain a significant barrier. Ensuring secure data sharing and protecting consumer information is crucial for the continued growth of the market.

Fragmented Transport Infrastructure: In some regions, the transport infrastructure is fragmented, with multiple independent operators managing different modes of transport. Creating a seamless, integrated MaaS platform in such a fragmented ecosystem requires overcoming logistical and regulatory challenges.

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✅ Market Opportunities

The North American MaaS market presents several opportunities:

Expansion of Electric and Autonomous Vehicle Integration: As autonomous vehicles and electric vehicles continue to grow, MaaS platforms that integrate these technologies will benefit from consumer interest in more sustainable and futuristic transportation options.

Partnerships and Collaborations: Strategic partnerships between MaaS providers, transportation operators, and technology companies will drive further innovation and expansion. Collaborative efforts in cities with large urban populations will enable MaaS to gain traction in mainstream transportation solutions.

Government Incentives and Policies: Governments in North America are increasingly supporting the adoption of smart and sustainable transportation solutions, creating opportunities for MaaS providers to capitalize on these incentives, particularly in eco-friendly urban areas.

👉 Reasons to Buy the Report:

✔️ Gain insights into the market size and projected growth for North America's MaaS industry.
✔️ Understand key drivers and challenges influencing market dynamics.
✔️ Explore emerging trends such as autonomous shuttles and drone integration within MaaS.
✔️ Identify investment opportunities in rapidly growing urban mobility sectors.
✔️ Examine the competitive landscape of MaaS players, including partnerships and innovations.

📌 Key Players

✦ Uber Technologies Inc.
✦ Lyft, Inc.
✦ Moovit
✦ Daimler AG
✦ BMW Group
✦ Volkswagen Group

■ Recent development: Lyft partnered with Google Maps to provide a more integrated MaaS experience, enabling users to book rides through Google's navigation app.
■ Recent development: Uber introduced Uber Elevate, an urban air mobility initiative, which is set to add autonomous flying vehicles to its MaaS offerings in the near future.

In summary, North America's MaaS market is poised for significant growth due to urbanization, technological advancements, and government incentives aimed at reducing congestion and environmental impact. With new transportation options like drones and autonomous shuttles on the horizon, the future of MaaS looks promising for both consumers and businesses alike.

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