Market Overview:
The mobility as a service market is anticipated to grow by USD 510.22 Billion by 2030 rapidly growing at a CAGR of 27.74% during the forecast period. The global mobility as a service market is driven by rapid expansion of public infrastructure and favourable government policies. These factors have helped shape the mobility as a service market and are expected to boost the growth. Companies in the mobility as a service market could also face challenges such as concerns regarding the safety of MaaS systems. The details covered in the mobility as a service market report cover all the aspects of the industry. Mobility as a service market analyst have also shared growth projections in the report and have suggested mobility as a service market player to plan growth strategies accordingly.
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Governments across the world are adopting initiatives for promoting digital payments. The Indian government for instance launched the Digital-India initiative which focuses to foster cashless transactions and digital payment methods all across the country. The growing number of e-commerce companies coupled with the growing use of e-wallets to make transactions will boost market growth. The development of safe and highly secured payment gateways will fuel market growth. Various mobility as a service company such as Ola, Lyft, Uber, and others are offering shopping coupons and cashback on payments that is made through e-wallets.
Regional Overview
Companies in the mobility as a service market are spread across the world. The mobility as a service market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American mobility as a service market has many companies across the United States, Canada, and Mexico. Europe has companies in the mobility as a service market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the mobility as a service market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The mobility as a service market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of mobility as a service market can be found in the market research report.
COVID-19 Analysis
Companies like Lyft and Uber has experienced a huge ride drop owing to the COVID-19 pandemic. People are keeping away from such services for the growing concerns about the virus to spread. Besides, the maximum population working from home, there has been a reduction in public transport by about 70-80% worldwide. This had a negative effect on the market that led to a fall in revenue across all regions.
Opportunities
Rising Use of Smart Connected Devices to offer Robust Opportunities
The number of smart connected devices is increasing across the globe. With the increase in devices, it has become challenging in managing, monitoring, and maintaining the data. Hence the demand for M2H and M2M communications will increase as they help end users in simplifying the management, maintenance, and monitoring of connected devices. Currently, enterprises are experiencing significant improvements in business process for the adoption of IoT analytics. The close monitoring of business processes results in more effective decisions in real-time. The increase in connected devices is a key factor that is boosting the demand for MaaS over the forecast period
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Industry News
The purchase of the leading mobile vehicle repairs and servicing company extends Cox Automobile Mobility Fleet Optimization and marketplace services capabilities and global scope. The mobile repair services specialist at Dickinson will be the gateway to the future success direction of Pivet. Dickinson Fleet Services' technical learning can be extended to benefit Cox Automotive partners and consumers learning, growing and implementing in the space of mobile fleet services.
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