The Global Mobility as a Service Market is growing with the rapid pace mainly due to the high travel demand on transport networks and increasing need of both workplaces and employees that may support a reducing the traffic in peak hours. According to a recent study report published by the Market Research Future, The global market of Mobility as a Service is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2023).
The Global Mobility as a Service Market is driven by the growing demand of transportation system and industrial growth. The companies are providing Mobility as a Service due to increasing need of transport services which offer the consumers tailor made mobility solutions. With the advancement in smartphones, it becomes easier for the customers to avail these services at any time at the lower cost.
The smartphone and the evolution of big data are the driving factors of the Mobility as a Service Market growth. With this technological evolution, the companies are investing into these services. The smartphones generates the data which is required to manage a system that combines public and private transport as well. The companies’ offers these services via sending the information through an app which would help the customers know about the transportations package services, plans and payment options to suite consumers.
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Major Key Players
Make my trip (India),
Didi Dache (China),
6 June, 2017 – Lyft and nuTonomy went into the strategic partnership to enhance the end-to-end experience of autonomous vehicle passengers. These services are mobility on demand service that is deployed in cities to tackle the difficult challenge of urban driving. The nuTonomy has also planned to launch its self-driving mobility-on-demand service in Singapore by 2018.
31 Jan 2017 – Uber and Daimler has went into the agreement to introduce self-driving vehicles. Uber has started its platform for manufacturers to introduce their own self-driving cars. Their new corporate strategy was Connected, Autonomous, Shared & Services and Electric in which the companies are offering the future of shared and autonomous driving.
North-America is dominating the Global Mobility as a Service Market with the largest market share and is expected to grow over its previous growth records by 2023. The advancements in ease of transportation system to handle traffic control and cover the distance in time is propelling the growth of Mobility as a Service in these regions. Mobility as a Service Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 as MaaS is providing best services to travel and security to the travellers which is increasing the demand for mobility as a service in the region. The European market for Mobility as a Service Market is expected to grow at a considerable CAGR (2017-2023).
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The Market of Mobility as a Service appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of Mobility as a Service targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to invent new Mobility as Service modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among Mobility as Service Equipment industry marketers on inbound lead generation over branding-oriented efforts.
- System Security
- Software investors
- Mobility as a Service solution vendors
- Mobility as a Service Providers
- Network providers
- Transportation providers
- Data providers
- Transport operators
- Transport Tracking
- MaaS Service providers
- Value-added Resellers
- System Governance
- Investors and Venture Capitalist
- Mobility as a Service Agencies
- Technology Integrators
- Research/Consultancy firms
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