Press release
Mobility on Demand Market - To Players Eyeing to Penetrate into Emerging Nations with Untapped Opportunities
Transportation is essential for everyday business. With advancements in information technology and the Internet of Things (IoT) in the past decade, consumers are now able to communicate with other platforms to share or hire their mode of transportations, which are not only time-efficient, cost-efficient, and comfortable, these platforms also go a long way in conserving energy. Consequently, the global mobility on demand market, which is currently in nascent phase, is projected for a robust growth rate during the forecast period of 2016 to 2024.
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This report on global market for mobility on demand is a study of the current situation, and based on the analysis of all the important factors that are expected to influence the growth rate in the near future, it presents estimations of the future scenario until 2024. This being a developing market, technological advancements and aggressive investments are the key features of the current companies, which has been highlighted by the report besides estimating the market shares of some of the prominent players. The aim of the report is to provide essential decision making information and data to audiences such as mobility on demand service providers, automotive OEMs, back-end service providers, and transportation network companies.
The global mobility on demand market can be segmented on the basis of services type into e-hailing, car sharing, car rental, and station based mobility, on the basis of vehicle type into four wheelers and micro mobility vehicles, on the basis of data services into navigation, information, and payment, on the basis of internet connectivity into 3G, 4G, 5G, and Wi-Fi, on the basis of vehicle connectivity into V2V, V2I, V2P, and V2N. Geographically, the report studies the opportunities available in the regions such as Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
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Global Mobility on Demand Market: Trends and Opportunities
Rapid urbanization, due to which the need for personal mobility is escalating, and falling car ownership are two of the primary factors driving the market. On the other hand, low internet penetration in several emerging economies and stringent regulatory policies for data security is expected to hinder the growth rate during the forecast period.
Among the services types, the segment of e-hailing is projected for the best growth rate as it provides first and last mile connectivity for passengers, especially in the urban areas. E-hailing considerably reduces the waiting time for taxi via precise time using GPS. Currently, station based mobility market serves the maximum demand. By vehicle type, the segment of electric vehicle is quickly gaining popularity, and are soon expected to match the demand for IC engine vehicles. Based on data services, the segment of navigation service has most significant demand.
Global Mobility on Demand Market: Regional Outlook
Asia Pacific region, which resides several emerging economies with vast population base, such as India and China, is the most profitable region in the global mobility on demand market. Mobility on demand services such as app-based car sharing services, taxi services, and station based mobility is rising in the region of Asia Pacific.
Companies mentioned in the research report
Some of the key companies currently operating in the global mobility on demand market are Delphi automotive plc, Denso corporation, Uber Technologies, Inc., Robert Bosch GmbH, International Business Machines Corp. (IBM), Gett, Inc., Intel Corporation, Didi Chuxing, and Lyft, Inc.
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