In mobility on demand market, digitization and mobility is one of significant factor driving the market. The encouraging factors of mobility on demand market includes increased urbanization and changing demographics, declining car ownership and peer to peer transactions. Digital technology supports both upstream and downstream activities of mobility on demand. The cutting- edge technologies such as internet of things, connected vehicles, smartphone technologies and new payment apps is boosting the mobility on demand market. The growing preference for alternative transportation is one of the key factor driving market growth. The study also indicates, cost effective automobiles and young generation demand convenience are the key factors boosting market growth. By data service segment, navigation accounts for highest market share.
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The segmentation on the basis of service includes e-hailing, car sharing, car rental and station based mobility. Station based mobility tool can be used for intermodal connection, such that all modes of transportation can be reached at one location. It enable users by providing information regarding maps, vehicles available in nearby location and booking taxi through RFID cards and display. It provides users with single card for multipurpose operations that includes booking all modes of transportation and combined invoice system by public transportation company.
According to Market Research Future Analysis, mobility on demand market has been valued at approximately USD 186 Billion by the end of forecast period with approx. 18% of CAGR during forecast period 2018 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the mobility on demand market are- Uber Technologies Inc. (U.S.), Delphi Automotive Plc (U.K.), Denso Corporation (Japan), Intel Corporation (U.S.), Tomtom NV (Netherlands), Robert Bosch Gmbh (Germany), International Business Machines Corp. (U.S.), Didi Chuxing (China), Gett, Inc. (U.S.), Lyft (U.S.), among others.
By region, MRFR analysis shows that Asia –Pacific region accounts for largest market share in Mobility on Demand Market due to growing population and wide range of customer base. North America region is expected to be one of the fastest growing market owing to increased IT infrastructure and citizens in the region are spending huge amount in automobiles. Countries such as US and Canada are boosting mobility on demand market in the region. Technological advancement and smart city project is creating positive impact on mobility on demand market.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By vehicle connectivity segment, it includes vehicle to vehicle, vehicle to infrastructure, vehicle to pedestrian and vehicle to network connectivity. Vehicle to vehicle communication prevents accident by sending information regarding position and speed data over one another through a mesh network. Vehicle to infrastructure connectivity provides users with real time data about road condition, traffic congestion, construction zones and parking availability.
- Investors and consultants
- System Integrators
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Original Equipment Manufacturers
LIST OF TABLES
TABLE 1 MOBILITY ON DEMAND MARKET, BY SERVICE,
TABLE 2 MOBILITY ON DEMAND MARKET, BY VEHICLE TYPE
TABLE 3 MOBILITY ON DEMAND MARKET, BY DATA SERVICE
TABLE 4 MOBILITY ON DEMAND MARKET, BY INTERNET CONNECTIVITY
TABLE 5 MOBILITY ON DEMAND MARKET, BY VEHICLE CONNECTIVITY
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 MOBILITY ON DEMAND MARKET: BY SERVICE (%)
FIGURE 3 MOBILITY ON DEMAND MARKET: BY VEHICLE TYPE (%)
FIGURE 4 MOBILITY ON DEMAND MARKET: BY DATA SERVICE (%)
FIGURE 5 MOBILITY ON DEMAND MARKET: BY INTERNET CONNECTIVITY (%)
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