According to TechSci Research report, “Mobility As a Service Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, Global Mobility As a Service Market was valued at USD 169.08 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 20.19% through 2029.
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The Global Mobility as a Service (MaaS) Market is poised for substantial growth in the coming years, driven by several key factors. Urbanization is a major force behind this trend, as increasing population densities and traffic congestion in cities create a pressing need for innovative transportation solutions. Traditional transport infrastructures are struggling to keep up, making MaaS a game-changer. By integrating various modes of transportation—such as buses, trains, ridesharing, and micro-mobility options—MaaS offers a streamlined and interconnected travel experience. This integration not only optimizes existing infrastructure but also provides urban residents with efficient, flexible, and comprehensive travel options. As urban areas continue to expand, the demand for MaaS solutions is expected to rise, driven by the need to reduce congestion and improve overall mobility.
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Technological advancements are also a significant driver of growth in the Global MaaS Market. The widespread adoption of smartphones, high-speed internet, and the Internet of Things (IoT) has transformed the transportation landscape into a connected and digitized environment. MaaS leverages these technologies to provide real-time information, convenient booking options, and integrated payment systems. The ongoing development of autonomous vehicles and smart city initiatives further accelerates the adoption of MaaS. The synergy between technology and transportation not only enhances user experiences but also improves urban mobility systems. As technology continues to evolve, the appeal and demand for MaaS solutions are expected to grow, reshaping the future of global transportation.
The Global MaaS Market is influenced by several key factors driving its growth trajectory:
- Urbanization and Congestion: Rapid urbanization and increasing traffic congestion drive the need for efficient, sustainable transportation solutions. MaaS offers a unified platform that integrates various transportation modes, including public transit, ride-sharing, bike-sharing, and car-sharing.
- Technological Advancements: The rise of smartphones and digital technology accelerates MaaS adoption. Mobile apps and digital platforms facilitate convenient planning, booking, and payment for transportation services, enhancing the user experience.
- Changing Consumer Preferences: The shift towards flexible and cost-effective transportation options aligns with the rise of the sharing economy. MaaS platforms offer subscription-based models and pay-per-use options, catering to evolving consumer preferences.
- Government Initiatives: Governments worldwide are promoting sustainable transportation and smart city development, driving investment in MaaS infrastructure. Incentives aim to reduce traffic congestion, lower carbon emissions, and improve urban mobility.
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Market Segmentation:
- Service Type
- Solutions
- Transportation
- Application Platform
- Region
Application Platform Insights:
In 2023, the Android segment led the Global MaaS Market. Android’s dominance in the smartphone market is due to its open-source nature, allowing a wide range of manufacturers to adopt it for their devices. This extensive adoption results in a diverse range of Android smartphones, which broadens the user base for MaaS applications.
The Android ecosystem is characterized by its device diversity, including various manufacturers and price points, making it accessible to a wide audience. MaaS applications often target Android to reach a broad range of users across different income levels and regions.
Android devices’ affordability has contributed to its popularity, especially in emerging markets where budget constraints are common. This accessibility aligns with the goal of MaaS providers to reach as many users as possible.
The open-source nature of Android allows for extensive customization, appealing to developers who can tailor MaaS applications to specific user needs. This flexibility fosters innovation within the Android app development community.
The Google Play Store provides a straightforward platform for distributing MaaS apps, facilitating broad reach without significant barriers. Android’s global penetration, including both developed and developing economies, is crucial for MaaS providers aiming for worldwide service delivery.
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Major companies operating in the Global Mobility As a Service Market are:
- MaaS Global
- Uber Technologies Inc.
- Moovit Inc.
- Transdev Group
- SkedGo Pty Limited
- PT GoTo Gojek Tokopedia Tbk
- Beeline Mobility
- Didi Global Inc.
- Lift Inc.
- Bird Rides Inc
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“The Global Mobility As a Service Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The surge in global urbanization serves as a pivotal driver for the Mobility as a Service (MaaS) market. As urban centers expand and face escalating congestion, MaaS emerges as a strategic solution to optimize transportation efficiency. By seamlessly integrating diverse modes of transit, including ridesharing, public transport, and micro-mobility, MaaS offers businesses and commuters a cohesive and streamlined mobility experience. As cities grapple with the challenges of increasing population density, MaaS presents an innovative and scalable solution, catering to the demand for interconnected, flexible, and sustainable transportation options in the business landscape. .Therefore, the Market of Mobility As a Service is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Mobility As a Service Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Service Type (Car Sharing, Bus Sharing, Train, Ride Hailing, Bi-Cycle Sharing, Self-Driving Cars, and Others), By Solution (Navigation Solutions, Ticketing Solutions, Technology Platforms, Insurance Services, Telecom Connectivity Providers and Payment Engines), By Transportation (Public and Private), By Application Platform (IOS, Android, and Others), By Region, By Competition 2019-2029”, has evaluated the future growth potential of Global Mobility As a Service Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Mobility As a Service Market.
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