Mobility as a Service Market Snapshot

“The Mobility as a Service Market to grow from USD 5.4 Billion in 2023 to USD 35.56 billion by 2030, at a CAGR of 30.4%.”

Mobility as a service (MaaS) is a digital model that enables consumers to schedule, reserve, and pay for various mobility services through a single channel. It transitions from individual mobility means to services provided by public and private transport companies.

Users can pay monthly for set distances or per journey, with the main idea being to provide tailored mobility solutions to travelers.

A journey planner is a tool used for travel planning, allowing customers to choose their ideal journey based on factors like cost, time, and convenience. It handles all necessary reservations, such as long-distance rail reservations or cab calls.

The service is expected to enable roaming, allowing the same end-user app to function in various locations without requiring users to download and set up new applications. This service is expected to streamline travel planning and convenience.

Car ownership may decrease due to mobility as a service, leading to increased vehicle kilometers driven. MaaS can improve transportation provider effectiveness and usage, supporting a region's entire transit network.

The Ubigo trial in Gothenburg confirmed these forecasts, with deregistered private cars and increased network efficiency due to existing transit services. Combining new technologies like driverless cars with an increasingly effective network could significantly decrease public transport costs.

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Potential Impacts

Car ownership may decrease due to mobility as a service, leading to increased total vehicle miles driven if average on-road occupancy decreases.

The Ubigo trial in Gothenburg demonstrated the potential of MaaS to enhance the efficiency of transportation providers, leading to a decrease in private automobile registration and increased network efficiency.

This suggests that the integration of driverless cars with an increasingly efficient network could significantly reduce public transport costs.

MaaS can alleviate city congestion, enhance ridership, enhance transit network effectiveness, lower costs, increase MaaS transit provider utilization, and decrease emissions as more people adopt autonomous vehicles in a MaaS network, thereby boosting the use of MaaS transit.

MaaS can help business travelers save hundreds of thousands of dollars by analyzing the Total Cost of Business Mobility. This includes expenses like car rentals, gasoline, parking, rail ticket administration fees, and trip scheduling time.

Companies can make informed decisions on travel policies, fleet management, and expense reimbursement. Some MaaS businesses claim that the journey planning process can take up to nine steps before booking a basic travel arrangement.

Market Trends

The increasing demand for personalized transportation services, driven by innovative mobility service providers like carpool, ridesharing, bicycle and scooter sharing programs, carsharing services, and on-demand bus services, has established a market niche for MaaS.

The rise in autonomous vehicles is causing doubts about the financial benefits of personal car ownership over on-demand car services, which are predicted to significantly decrease in price once autonomous vehicles are available.

The transformation of trip chains is being facilitated by improvements in the seamless integration of different transport forms, allowing joint reservations and payments for each leg.

London commuters can pay for transport using Oyster, specialized travel cards, or contactless payment bank cards.

Data collected from these modes, trips, and payments improves travel efficiency and aids government decision-making in enhancing regional transit networks, enhancing overall public transportation.

Uber plans to convert its app to a fully driverless service as the development of autonomous cars accelerates. This comes as numerous automakers and tech firms, including Tesla, Mobileye, General Motors, Waymo, Apple, and Local Motors, are also developing autonomous vehicles.

Segment Analysis

Segmented by Service Type

The use of mobility services has led to increased usage in parking, traffic, and mobility management, as well as improved technology. This has resulted in reduced accidents and improved business development partnerships.

The use of mobility services has also expanded the market, benefiting from access to better technology and wireless networks among other industry participants.

Segmented by End User

Mobility as a service has gained market attention due to increased commercial and private vehicle usage across regions.

It serves various sectors like business development, transport, academics, civil work, hospital transport, and municipal. Improved technology and wireless connection make mobility easy and uninterrupted.

Growth Drivers

The mobility as a service business is enhancing with advanced amenities and technologies, improving mobility management. Wireless connections involve consumer, driver, and supporter domains, allowing travel bookings via smartphones.

The technology offers fast internet, improved performance, and high-quality output, enhancing overall user experience.

Mobility as a service has gained clientele's trust through safe, economical travel, early arrival, smart device sharing, reducing pollution, improving parking management, and reducing traffic accidents.

Popular solutions include online payment, phone connectivity, parking management, mobility management, ticket solutions, and wireless navigation. These services have a higher revenue share, promoting safe travel, safe driving, and fewer traffic accidents.

The increasing demand for mobility services has accelerated the expansion of mobility service management and is influencing corporate development. The market is predicted to grow faster due to increased investment in research and development.

Restraints

Low internet penetration in developing and underdeveloped economies is expected to limit market growth, while concerns about data privacy and security in ride-sharing and ride-hailing applications are expected to impede future market growth.

The MaaS market's growth is likely to be hindered by its limited scalability, complex software development, lack of regulatory framework for public-private transportation integration, and inadequate infrastructure for payment settlement and ticketing solutions.

Market Opportunities

The mobility service market experienced rapid growth due to improved urbanisation, advanced technologies, and increased mobility service management potential. This led to improved revenue share.

 The Internet of Things enhances online safety and performance by enabling seamless connectivity and data transmission between users. Cloud computing and advanced technology enable information exchange between smart devices, connecting individuals.

Competitive Landscape of the Mobility as a Service Market Analysis

• Lyft, Inc.
• Moovit, Inc.
• Uber Technologies, Inc
• Communauto, Inc
• Citymapper, Ltd
• MaaS Gobal Oy
• uBIgO Innovation AB
• SkedGo Pty, Ltd.
• Moovel Group GmbH

New Developments in Mobility as a Service Market

September 25, 2023- Wave Transit, Moovit Bring Increased Mobility Options to Wilmington, N.C.

Innovative Solutions Award Winner: Mobility - Wave Transit (Wilmington, N.C.)/Moovit/Bus.Com

Rapid population sprawl throughout the Wilmington, N.C., region led to certain areas being underserved by fixed-route public transit, resulting in fewer public and shared mobility options where transit network coverage is limited — there were high wait times for riders, long walking distances, and high-cost fixed-route services that weren't immediately meeting the needs of the community in the city and surrounding counties.

October 12, 2023 – The Montpellier-based carsharing service Modulauto and the operator Communauto, present in the Paris region of France, announce a strategic partnership to accelerate round-trip carsharing development in Occitania and Île-de-France.

Established in 2006 in Montpellier, Modulauto currently offers a round-trip carsharing service in the Languedoc metropolis, as well as in several cities across Occitania (Nîmes, Sète, Béziers, Narbonne, and Perpignan). Thanks to this partnership with Communauto, Modulauto will gain access to the capital, tools, and expertise required to solidify its development within its area.

Moovit, in November 2022, announced a new feature enabling commuters to decrease uncertainty and stress. The feature will allow Moovit users to follow their transit line’s movements along the map in real time for an additional layer of reliable information on route progress. Available for buses, trains, trams, subways, ferries, and even cable cars with GPS tracking, the feature will initially roll out in more than 220 cities across 38 countries.

In October 2022, Cycling SDK by Citymapper helped integrate cycle routing and turn-by-turn navigation instantly, with just a few lines of code. SDK is designed to integrate seamlessly with the customer’s product and allows the configuration of colors, fonts, and icons to match the look and feel; it offers a choice of a range of features and details to match the use case.

In October 2022, SkedGo announced its support for the Leicester Buses Partnership in the UK. This integration aims to provide travelers with personalized, door-to-door bus trip planning based on their preferences. Additionally, it serves as a platform to highlight and encourage the utilization of various local bus travel choices available in the area.

Regional Analysis of Global Mobility as a Service Industry

The Asia Pacific region is expected to dominate the MaaS market due to its large population and the growth of mobility as a service, primarily driven by Japan and China.

The presence of ride-sharing services, MaaS apps, and automakers like Uber, Grab, Toyota, Hyundai, and Honda will drive product development and technology integration, driven by the region's rapid urbanization and population growth.

Urban transport is expected to grow significantly in developing Asia-Pacific nations, especially Indonesia and India, as countries focus on smart personal mobility to reduce commute time and traffic.

China, a global leader in electric vehicle sales, is expected to demonstrate a growing need for MaaS, with Singapore, Indonesia, and India also expected to drive the Asia Pacific industry.

Segments Covered in the Mobility as a Service Market Report

Mobility as a Service Market Segment by Service Type

• Ride Hailing
• Car Sharing
• Micromobility
• Bus Sharing
• Train Services

Mobility as a Service Market by Solution Type

• Technology Platforms
• Payment Engines
• Navigation Solutions
• Telecom Connectivity Providers
• Ticketing Solutions
• Insurance Services

Mobility as a Service Market Segment by Transportation Type

• Public
• Private

Mobility as a Service Market by Vehicle Type

• Micromobility
• Four-wheelers
• Buses
• Trains

Mobility as a Service Market by Application

• Personalized Application Services
• Journey Management
• Journey Planning
• Flexible Payments & Transactions

Mobility as a Service Market Segment by Operating System

• Android
• iOS
• Others (Linux, Symbian OS, Blackberry OS, Windows, and KaiOS)

Mobility as a Service Market Segment by Business Model

• Business-to-Business
• Business-to-Consumer
• Peer-to-Peer

Mobility as a Service Market Segment by Propulsion Type

• ICE Vehicle
• Electric Vehicle
• Hybrid Electric Vehicle
• CNG/LPG Vehicle

Mobility as a Service Market Segment by Mode

• Public
• Private

Mobility as a Service Market Segment by End User

• Business Developments
• Transport Services
• Academics
• Civil Work
• Hospital Transport Facility
• Municipal Sector

Mobility as a Service Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What does Mobility as a Service do?

MaaS offers a comprehensive transportation solution by integrating various modes of transportation, including e-bikes, ridesharing, public transportation, and peer-to-peer rentals, on a single platform.

What is the expected growth rate of the Mobility as a Service market over the next 7 years?

The Mobility as a Service Market to grow from USD 5.4 Billion in 2023 to USD 35.56 billion by 2030, at a CAGR of 30.4%.

Who are the major players in the Mobility as a Service market and what is their market share?

Lyft, Inc., Moovit, Inc., Uber Technologies, Inc, Communauto, Inc, Citymapper, Ltd, MaaS Gobal Oy, uBIgO Innovation AB, SkedGo Pty, Ltd., Moovel Group GmbH, are prominent players operating and dominating in the market.

What are the advantages and disadvantages of Mobility as a Service?

The study reveals that desired MaaS outcomes include reduced vehicle kilometers, increased trip awareness, parking, vehicle ownership, and improved social equity, while supply side barriers include public-private cooperation, business support, and service coverage.

Which geographical areas dominate the worldwide market for Mobility as a Service?

Asia Pacific region are emerging as the top regional markets for Mobility as a Service.