Shared Mobility Market: Global Industry Analysis and Forecast (2021-2027)

Shared Mobility Market size was valued at US$ 412.2 Bn. in 2020 and the total revenue is expected to grow at 7.67 % through 2021 to 2027, Shared Mobility Market is reaching nearly US$ 728.2 Bn. by 2027.

Shared Mobility Market Overview:

Shared mobility is a commuting service in which businesses arrange for commercial cars to transport people from one location to another. The owner of a fleet of commercial cars lends it to the organisation, which utilises it to deliver services including hiring, ride sharing, and mobility. The charge is entirely determined by the customer's travel distance and time to the destination. Due to various factors such as rapid urbanisation, increased environmental concerns, limited energy resources, and economic concerns, the trend of shared transportation has increase during the forecast period. The value of the shared mobility market in the three main markets, China, Europe, and the United States, has now surpassed $60 billion. Self-driving taxis and shuttles will become more frequent in the future, and urban air mobility will progress beyond the prototype stage. MMR estimate that the yearly growth rate for shared-mobility solutions will approach 20% by 2027 if current trends continue. Shared Mobility Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Global Shared Mobility Market Dynamics:

In 2019, the global shared-mobility market accounted for $130 billion to $140 billion in consumer spending E-hailing took the biggest chunk of the pie, accounting for $120 billion to $130 billion, or more than 90% of the whole market. Car sharing and peer-to-peer car sharing together account for less than 10% of this market, reflecting e-greater hailing's convenience (that is, the customer is driven, can spend the time in the vehicle on other activities, and does not have to find a parking space). Every country's government is concerned about population growth, which has negative environmental consequences. Governments encourage citizens to limit their use of vehicles as much as possible. Also, sharing rides among families and friends is one of the government's important concepts for encouraging individuals to choose shared rides over personal trips, which is expected to enhance the global shared mobility market's growth. Shared mobility services would play a big role in the future of transportation, companies like Uber and Lyft have reached billion-dollar valuations. Shared mobility services have yet to become a widespread phenomenon, according to MMR of more than 2,000 persons in the United States. Only 17.5 % of people said they had used a short-distance ride-sharing service (such as Uber) in the last year, with long-distance ride-sharing, bike-sharing, and car-sharing experiencing even lower adoption rates. Shared Mobility MarketCustomers are selecting more cost-effective and attractive modes of transportation over personal driving preferences. Clients who previously rented a personal driver for their vehicle because it was more cost-effective have switched to shared transportation for the majority of their travel needs. As a result, these efforts are likely to accelerate the growth of the global shared mobility market over the forecast period. Increasing vehicle ownership costs are encouraging people to use alternatives that allow them to share a variety of modes of transportation. Users can book, change, and cancel reservations in real-time using applications. Ride-hailing services are widely used, particularly in rising economies like India and Mexico. This is likely to have a positive impact on market growth through 2027. The market's growth could be limited by the lack of understanding about the benefits of such service models over the forecast period. Also, individuals are scared to share their vehicles with strangers in the case of ride-sharing, resulting in a decrease in the number of vehicles participating in the segment. In some low-income countries in the Middle East and Africa, poor connectivity and high costs associated with internet infrastructure development are also preventing the market from reaching its full potential. Increasing vehicle ownership costs are encouraging people to opt for solutions that allow them to share a variety of modes of transportation. Ride-hailing services are widely used, particularly in rising economies like India and Mexico. This is likely to have a positive impact on market growth through 2027. Share Mobility Trends in 2021 • Subscription services - Individual mobility is becoming more important, especially in light of the pandemic. Customers want to own their own vehicle but don't want to be tied down; they prefer to rent for short periods of time at low fixed fees. Car subscriptions bridge the gap between renting or leasing a car and really owning one. The market has a lot of traction: companies like Cluno and Vive la Car have been operating for a while. • Moped sharing - Mopeds have long been a staple of the sharing economy, and their popularity has only grown in recent years. Especially in urban regions, user numbers are currently on the rise. According to the most recent moped sharing survey, the number of shared mopeds has climbed by 58 % in the 2020, from 66,000 to 104,000 vehicles, and the number of registered users has increased by 80 %, from 5 million to 9 million. The vehicles are strong and long-lasting, as well as comfy and convenient to park. Many towns and countries have yet to be explored by providers: there are still significant unexplored prospects in the United Kingdom, France, Italy, and Eastern Europe. • E-Bikes - The streets are being taken over by e-bikes. Many cities, like Paris and Cologne, are changing vehicle lanes to E-bike lanes, not just since the outbreak. They've now progressed to the shared mobility market as the next step. Lime and Free Now, for example, will begin offering e-bike sharing in Hamburg in September 2020. Wheels created their own vehicle in Berlin, which is a hybrid of an e-scooter and an e-bike. Dott announced at the end of 2020 that, in addition to its successful scooter sharing services, it will begin offering e-bike sharing to its consumers in London and Paris in March 2021. • Corporate Car sharing - The concept will resurface as a viable alternative to standard business leasing. For example, Deutsche Telekom, intends to replace individual company cars with more efficient, comprehensive mobility solutions that also help the corporation meet its CO2 targets. Carpooling and shuttle services are critical in this regard. • Digital acceptance - The pandemic has sped the uptake of digital offerings such as home offices, distance learning, online shopping, digital delivery services, and a coronavirus app. This benefits the shared mobility industry, which has a predominantly digital business strategy. This is especially true for consumer interactions, which are nearly entirely conducted via smartphone: search, booking, and unlocking are all done via app. Cancel, unsubscribe, and rate are all available through the app. The more potential customers become accustomed to digital offerings, the more likely they are to utilize their smartphone for mobility as well, allowing them to use their scooter, moped, bike, or automobile in a more flexible manner. Global Shared Mobility Market Segment Analysis: The global Shared Mobility market is sub-segmented into Vehicle type and Business model. Based on Business Model, the market is sub-segmented into Ride-e-Hailing Service, Vehicle Sharing, Peer-to-Peer Vehicle Sharing, and Fixed-Route Commuter Service. From the forecast period, e-hailing maintained a strong lead in the shared-mobility market, with tremendous growth over that time. While electric scooter sharing did not play a significant role prior to 2020. Micro mobility could reach a global consumer spending potential of $300 billion to $500 billion by 2027 (combining shared and private micro-mobility), making it three to four times larger than the global e-hailing market. More than $95 billion has been invested in the e-hailing segment, with about half of all e-hailing investments going to the three largest global firms. Rather than creating fleets and running vehicles, the basic e-hailing business strategy tries to get (asset-free) access to drivers and customers, which appears to be appealing to investors. For investors, it's a bet on the future. Investors are waiting for industry players to commercialize autonomous-driving technology and become profitable on a large scale; robo-taxis and shuttles could be a game-changer in the e-hailing market investors are waiting for industry players to commercialize autonomous-driving technology and become profitable on a large scale. Shared Mobility MarketBased on Vehicle Type, the market is sub-segmented into Car, Two-wheeler, and others. In 2020, revenue generated by car-based services accounted for a higher share of total revenue. By 2027, the Car segment is expected to continue to dominate the shared mobility industry. The increased demand for ride-hailing, ride-sharing, and car-sharing services can be related to the segment's rise. According to the Center for Automotive Research, the number of cars utilized for car sharing in Europe exceeded 60,000 in 2019, followed by over 25,000 cars in North America in 2018.

Global Shared Mobility Market Regional Analysis:

The Asia Pacific market is expected to account for the greatest revenue share in 2020. In countries like China and India, on-road car traffic and vehicle ownership expenses are constantly rising. Countries like India, where the urban population is growing and transportation infrastructure is improving, have a lot of scope for expansion in these services. From the forecast period, the Middle Eastern and African market is expected to grow at a significant rate of around 26.0 %. Demand for shared transportation solutions is surging in nations like the United Arab Emirates and South Africa, due to an increase in the number of corporate travelers. The UAE government's increased attention on developing alternate mobility options to reduce traffic congestion and greenhouse gas (GHG) emissions are expected to drive the regional market throughout the forecast period. The objective of the report is to present a comprehensive analysis of the global Shared Mobility Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Shared Mobility Market dynamics, structure by analyzing the market segments and project the global Shared Mobility Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Shared Mobility Market make the report investor’s guide.

Global Shared Mobility Market Scope: Inquiry Before Buying

Global Shared Mobility Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 412.2 Bn.
Forecast Period 2021 to 2027 CAGR: 7.67 % Market Size in 2027: US $ 728.2 Bn.
Segments Covered: by Vehicle type • Car • Two-wheeler • Other
by Business Model • Ride-Hailing Service • Vehicle Sharing • Peer-to-Peer Vehicle Sharing • Fixed-Route Commuter Service

Global Shared Mobility Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Shared Mobility Market Key Players

Zipcar • Car2Go • BleuSG • Car Club • WhizzCar • Tribecar • Smove • DiDi Chuxing • Uber • Lyft • ANI Technologies Pvt. Ltd. (OLA) • BlaBlaCar • Zoomcar India Pvt. Ltd. • Avis Budget Group • car2go NA, LLC • Beijing Xiaoju Technology Co, Ltd. • Mobiag • Movmi Shared Transportation Services Inc. • Grab, Uber Technologies Inc. • Bolt Technology Frequently Asked Questions: 1) What was the market size of Global Shared Mobility Market in 2020? Ans - Global Global Shared Mobility Market was worth US$ 412.2 Bn. in 2020. 2) What is the market segment of the Shared Mobility Market? Ans -The market segments are based on Vehicle type and Business Model 3) What is the forecast period considered for Global Shared Mobility Market? Ans -The forecast period for Global Shared Mobility Market is 2021 to 2027. 4) What is the market size of Global Shared Mobility Market markets in 2027? Ans – Global Shared Mobility Market is estimated as worth US$ 728.2 Bn. 5) Which region is dominated in Global Shared Mobility Market? Ans -In 2020, the Asia pacific region dominated the Global Shared Mobility Market.
1. Global Shared Mobility Market : Research Methodology 2. Global Shared Mobility Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Shared Mobility Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Shared Mobility Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Shared Mobility Market Segmentation 4.1. Global Shared Mobility Market ,by Vehicle type (2020-2027) • 12-15 inches • 16-17 inches • Above 17 inches 4.2. Global Shared Mobility Market , by Vehicle type (2020-2027) • Light Commercial Vehicle • Heavy Commercial Vehicle • Passenger Vehicle 4.3. Global Shared Mobility Market , by Business Model (2020-2027) • OEMs • Aftermarket 5. North America Shared Mobility Market (2020-2027) 5.1. North America Shared Mobility Market , by Vehicle type (2020-2027) • 12-15 inches • 16-17 inches • Above 17 inches 5.2. North America Shared Mobility Market , by Vehicle type (2020-2027) • Light Commercial Vehicle • Heavy Commercial Vehicle • Passenger Vehicle 5.3. North America Shared Mobility Market , by Business Model (2020-2027) • E OEMs • Aftermarket 5.4. North America Shared Mobility Market , by Country (2020-2027) • US • Canada • Mexico 6. European Shared Mobility Market (2020-2027) 6.1. European Shared Mobility Market , by Vehicle type (2020-2027) 6.2. European Shared Mobility Market , by Vehicle type (2020-2027) 6.3. European Shared Mobility Market , by Business Model (2020-2027) 6.4. European Shared Mobility Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Shared Mobility Market (2020-2027) 7.1. Asia Pacific Shared Mobility Market , by Vehicle type (2020-2027) 7.2. Asia Pacific Shared Mobility Market , by Vehicle type (2020-2027) 7.3. Asia Pacific Shared Mobility Market , by Business Model (2020-2027) 7.4. Asia Pacific Shared Mobility Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Shared Mobility Market (2020-2027) 8.1. Middle East and Africa Shared Mobility Market , by Vehicle type (2020-2027) 8.2. Middle East and Africa Shared Mobility Market , by Vehicle type (2020-2027) 8.3. Middle East and Africa Shared Mobility Market , by Business Model (2020-2027) 8.4. Middle East and Africa Shared Mobility Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Shared Mobility Market (2020-2027) 9.1. Latin America Shared Mobility Market , by Vehicle type (2020-2027) 9.2. Latin America Shared Mobility Market , by Vehicle type (2020-2027) 9.3. Latin America Shared Mobility Market , by Business Model (2020-2027) 9.4. Latin America Shared Mobility Market , by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Salvo 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Haas Outdoors, Inc - Mossy Oak 10.3. Plasticolor Inc 10.4. Bell Automotive Inc 10.5. WheelSkins Inc 10.6. Auto Drive Technologies 10.7. Custom Accessories 10.8. Pilot Automotive 10.9. Startech 10.10. Realtree 10.11. Accuform Signs 10.12. AutoLoc Power Accessories 10.13. Metra 10.14. Roadpro Brands 10.15. OTC Bosch Automotive Service Solutions

About This Report

Report ID 24683
Category Automotive and Transportation
Published Date Jan 2020
Updated Date Dec 2021
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