This press release was orginally distributed by SBWire
Northbrook, IL — (SBWIRE) — 08/12/2019 — The mobility as a service (MaaS) market is projected to grow at a CAGR of 31.7% from 2020 to 2030, and the market size is expected to grow from USD 6.8 billion in 2020 to USD 106.8 billion by 2030. MaaS offers efficient solutions to move traffic in more convenient, faster, and less expensive manner. Also, the growth of the telecom sector, widespread penetration of smartphones on 3G, 4G, and upcoming 5G networks, will facilitate the growth of this market.
Electric and autonomous vehicles will be the most advanced technology change that would change the MaaS business landscape. Mobility service providers are working on including autonomous vehicles in their services. Autonomous vehicles ride sharing services will have 100% ownership with the service provider and the revenue will be generated directly by the company and not by the driver. Electric vehicle is expected to gain traction in MaaS fleets due to favorable government policies, improving charging infrastructure, and growing awareness about CO2 emission. Hence, the profit-making capacity of companies would improve with the introduction of fully autonomous cars and electric vehicles as it will help in reducing overhead costs of driver and fuel.
Four wheelers have the largest market share as the landscape is dominated by these vehicles as they are cost effective options to purchase, operate, and maintain. Four wheelers find their most usage in ride hailing, car sharing, and car rental type services as these vehicles allow for long distance as well short distance travelling. Also, the global automotive industry is dominated by passenger cars, which come under four wheelers category, and micro mobility is still growing.
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Micro mobility is projected to be the fastest growing service of the MaaS market by 2030. Micro mobility services provides small vehicles or bicycles at closely spaced intervals or convenient locations throughout a city. The micro mobility vehicles are both regular and electric, scooters, and small electric cars. Most of these vehicles emit very less or, in case of bicycles, zero emissions, and hence contribute toward pollution control as well and less traffic congestion. This would help micro mobility market to grow during the forecast period by providing better and convenient traveller experience with greater ease. Hence, the micro mobility market would have fastest growth in the MaaS market.
MaaS caters to both static and dynamic MaaS models, which could take into account multiple factors such as congestion, user characteristics, air quality, and travel speed. It is even possible to imagine opportunities where the data coming out of the MaaS models is ultimately used to deliver transport outcomes in a better way that is quite aligned to policy objectives. Thus combining big data points with new transport systems will create opportunities to innovate and refine MaaS offerings. It is therefore justified for the companies and transport authorities to invest in new technology platforms for this market.
Key Questions addressed by the report
1. What will be the acceptance scenario of MaaS in the transportation industry?
2. How are the government regulations going to impact the MaaS market globally?
3. How would MaaS impact the trends in public trasport?
4. What would be the share of ride hailing, car sharing, bus sharing, train service, and micro mobility segments in the MaaS market?
5. What would be the regional trend and the market size of MaaS?
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