Soaring Demand Set to Propel Mobility As A Service Market to $487.72 Billion by 2029

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What Is the Expected CAGR for the Mobility As A Service Market Through 2025?
The market size of mobility as a service has seen swift expansion in recent times. Starting from a valuation of $205.7 billion in 2024, it is projected to rise to $236.18 billion in 2025, a surge represented by a compound annual growth rate (CAGR) of 14.8%. Factors contributing to the growth during the historic period include the increasing prevalence of smartphones, targets for environmental sustainability, government-supported smart city initiatives, the merging of public and private transportation services, economic and operational efficiencies, demographic changes and evolving lifestyles, the proliferation of micromobility solutions, and a consumer preference for hassle-free travel.

What's the Projected Size of the Global Mobility As A Service Market by 2029?
There's forecasted rapid expansion in the mobility as a service market, with estimations that it will reach $487.72 billion by 2029, increasing at a compound annual growth rate (CAGR) of 19.9%. The key drivers propelling this growth within the forecasted period are improvements in autonomous vehicles, incorporation of smart infrastructure, global urban population growth, focus on user-friendly design, personalization and digital identity. The growth is also anticipated to be aided by the concentration on health and safety measures, innovative payment and subscription model systems, and policy support for MaaS implementation. Some of the major trends foreseen to shape this market include digital payment systems and ticketing, immediate data collection and analysis, IoT and interconnectedness, cybersecurity precautions, in-app mobility functionalities, varied transportation modes, solutions for last-mile connectivity, and strategic alliances and partnerships.

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Top Growth Drivers in the Mobility As A Service Industry: What's Accelerating the Market?
The increased uptake of shared mobility worldwide is projected to fuel the advancement of the mobility as a service market. Shared mobility encompasses a variety of ride-sharing methods such as carpooling, vanpooling, bike sharing, and on-demand ride services, presenting a viable alternative to shuttles, private transit services, fixed-route bus and rail services, and paratransit. Mobility as a service facilitates shared mobility through the use of technology and applications. For example, per the Department for Transport, a ministerial department of the UK government, the count of private taxi hire vehicles hit 89,600 in April 2023, marking an 11% hike compared to March 2022. Consequently, this progressing uptake of shared mobility is forecasted to stimulate the mobility as a service market.

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What Trends Will Shape the Mobility As A Service Market Through 2029 and Beyond?
The trend of technological advancement is becoming increasingly popular within the mobility as a service industry. Major businesses in the sector are creating trailblazing technologies, such as amalgamated mobility as a service, to maintain their industry standing. This amalgamated mobility pertains to the amalgamation of service providers to put forth suitable transportation alternatives at every stage of the route. To illustrate, HCL Technologies Limited, an Indian IT services firm, partnered with Cisco Systems, Inc., a U.S.-based tech company, to introduce the Pervasive Wireless Mobility as a Service in May 2024. The service combines the network service management expertise of HCLTech with the Cutting-edge Wireless Backhaul (URWB) technology of Cisco, resulting in a sturdy network infrastructure. This arrangement enhances robust connectivity for significantly important applications, like vehicle connectivity in manufacturing, mobile worker support in mining, remote healthcare services, real-time data access in retail, and fleet connectivity in transportation terminals.

What Are the Main Segments in the Mobility As A Service Market?
The mobility as a servicemarket covered in this report is segmented -

1) By Service Type: Ride Hailing, Car Sharing, Micromobility, Bus Sharing, Train Services
2) By Solution Type: Technology Platforms, Payment Engines, Navigation Solutions, Telecom Connectivity Providers, Ticketing Solutions, Insurance Services
3) By Application: IOS, Android, Other Applications
4) By End Use: Personal, Business

Subsegments:
1) By Ride Hailing: Taxi Services, Ride-Sharing Services
2) By Car Sharing: Peer-To-Peer Car Sharing, Corporate Car Sharing
3) By Micromobility: E-Scooters, E-Bikes, Shared Mopeds
4) By Bus Sharing: On-Demand Bus Services, Fixed Route Bus Services
5) By Train Services: Commuter Rail Services, Intercity Train Services

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Which Top Companies are Driving Growth in the Mobility As A Service Market?
Major companies operating in the mobility as a service market are Uber Technologies Inc., SkedGo Pty Ltd, Moovit Inc., Moovel Group GmbH, UbiGo Innovation AB, Citymapper Ltd., Communauto Inc., Lyft Inc., ANI Technologies Pvt Ltd., Avis Budget Group Inc., Beijing Xiaoju Technology Co. Ltd., Grab Holdings Inc., Hertz Global Holdings Inc., Europcar Mobility Group S A, Sixt SE, Didi Chuxing Technology Co. Ltd., Ola Cabs Technology Pvt. Ltd., BlaBlaCar SAS, Zipcar Inc., Car2Go North America LLC, DriveNow North America LLC, LimeBike Inc., Bird Rides Inc., Spin Inc., Jump Mobility Inc., Transit App Inc., MaaS Global Oy, Beeline Singapore Pte Ltd, Karhoo Technologies Ltd., Bolt Technology OU, Free2Move Services, Wunder Mobility GmbH

Which Regions Will Dominate the Mobility As A Service Market Through 2029?
Asia-Pacific was the largest region in the mobility as a service market in 2024. The regions covered in the mobility as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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