Global Mobility as a Service (MaaS) Market

Global Mobility As A Service (MaaS) Market Size, Share, Growth Analysis, By Type(Ride-Hailing, Car Sharing), By Application(IOS, Android) - Industry Forecast 2024-2031

Report ID: SQMIG45F2137 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 64 | Figures: 75

Global Mobility As A Service (MaaS) Market Dynamics

Mobility as a Service (MaaS) Market Driver

  • The major Mobility as a Service (MaaS) driver is governments all across the world are taking steps to encourage digital payments. The Indian government, for example, created the Digital-India programme, which aims to promote cashless transactions and digital payment systems throughout the country. The industry is being driven by the increasing number of e-commerce enterprises and the expanding use of e-wallets for transactional purposes. During the forecast period, the Mobility as a Service (MaaS) Market is also projected to be driven by the development of highly secure and safe payment gateways.

Mobility as a Service (MaaS) Market Restraint

  • One of the key constraints is increased transportation congestion and pollution, particularly in developing nations. Most of the time, drivers are driving alone; this contributes to increased vehicle emissions and traffic congestion that would not exist without ride-hailing. In order to minimise traffic congestion, governments in numerous developing nations are pushing citizens to use public transportation rather than Mobility as a service.
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Global Mobility As A Service (MaaS) Market size was valued at USD 3.3 billion in 2019 and is poised to grow from USD 4.36 billion in 2023 to USD 53.81 billion by 2031, growing at a CAGR of 32.2% in the forecast period (2024-2031).

Uber remains the Mobility as a Service (MaaS) Market leader in worldwide mobility as a service. Uber's global market position has been improved by recent inventions such as Uber Freight, Jump, and Transit. The company's supremacy is due to the ease of payment alternatives, precautions made to safeguard users' data, and technical developments. 'Uber Technologies Inc', 'Citymapper', 'Lyft, Inc.', 'Didi Chuxing Technology Co., Ltd.', 'BlaBlaCar', 'Ola Cabs', 'Gett, Inc.', 'Grab Holdings Inc.', 'Careem Networks FZ-LLC', 'Taxify OÜ', 'Moovel Group GmbH', 'DiDi Express', 'Transit App, Inc.', 'SkedGo Pty Ltd', 'Lime (Neutron Holdings Inc.)', 'Bird Rides Inc.', 'Spin (Ford Motor Company)', 'JUMP Bikes (Uber Technologies, Inc.)', 'Zipcar (Avis Budget Group, Inc.)', 'Car2Go (Daimler AG)'

The major Mobility as a Service (MaaS) driver is governments all across the world are taking steps to encourage digital payments. The Indian government, for example, created the Digital-India programme, which aims to promote cashless transactions and digital payment systems throughout the country. The industry is being driven by the increasing number of e-commerce enterprises and the expanding use of e-wallets for transactional purposes. During the forecast period, the Mobility as a Service (MaaS) Market is also projected to be driven by the development of highly secure and safe payment gateways.

The growing interest of power companies in the car-sharing market has resulted in a significant Mobility as a Service (MaaS) Market trend. Because traditional cars emit a large quantity of pollution, governments in developing nations have enforced tough emission standards in order to reduce growing pollution. Many large firms, mostly mobility as a service providers, are establishing a foothold in the transportation industry, which is projected to increase their worldwide market position.

The Global Mobility as a Service (MaaS) Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. During the projection period, Asia-Pacific is likely to dominate the market. One of the key reasons that the Asia Pacific is likely to continue leading the Mobility as a Service (MaaS) market value in the forecast period is the rising cost of car ownership and rising fuel costs, particularly in countries such as India and China. One of the factors driving the rise of Mobility as a Service in this region is a lack of public transit to meet the region's constantly rising population.

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