Mobility as a Service Market, the New Paradigm in Transportation: Industry Analysis and Forecast (2022-2029) Trends, Statistics, Dynamics, Segment Analysis

The Mobility as a Service Market, The New Paradigm in Transportation size was valued at USD 3.35 Billion in 2022 and is expected to grow at a CAGR of 32.1% from 2023 to 2029, reaching nearly USD 23.52 Billion.

Mobility as a Service (MaaS) is a revolutionary concept that makes transportation in urban areas more convenient and accessible. It brings together various transportation options like ride-hailing, bike rentals, and public transit all under one digital platform, in the form of an app like Netflix and Spotify. Offering easy access to TV shows and music, MaaS provides a wide range of options. MaaS addresses the increasing challenge of urban transportation as more people move to cities. Building more roads and highways hasn't solved congestion, and there's a limit to the number of vehicles on the road simultaneously. MaaS offers a smarter approach by reducing individual car ownership. Instead of owning a car, people use MaaS services to access different transport options when and where they need them. This means fewer vehicles on the roads, reduced congestion, and less parking space needed.

There are several advantages to adopting the MaaS model. It promotes higher vehicle utilization, meaning fewer cars are needed overall, saving valuable parking space. People rent out their vehicles when they're not using them, recovering some costs. With fewer cars on the road, the government focuses on investing in better public transport infrastructure, leading to more frequent and reliable services. Organizations also gain from MaaS, especially those with vehicle fleets. Shifting to a MaaS transport model reduces fleet maintenance risks and costs. Fleet assets are better utilized by offering them for public use on weekends and holidays. Organizations can provide alternative transportation options for their staff, potentially saving on overall transport costs per individual. Mobility as a Service is a game-changing approach to urban transportation. By providing a comprehensive range of transport choices through a single platform. MaaS benefits individuals by reducing car ownership and cities by easing congestion and promoting efficient public transport infrastructure. Organizations with fleets also use MaaS to optimize asset utilization and offer alternative transportation solutions to their staff.To know about the Research Methodology :- Request Free Sample Report
Mobility as a Service Market Dynamics:
Advancements in Technology Propelled the Rise of Mobility as a Service Platforms.

Urban population growth leads to higher demand for efficient transportation solutions in cities. MaaS offers a convenient and integrated platform that addresses urban dwellers' mobility needs, making it an attractive option for both residents and visitors. A rapidly expanding metropolis experiences a surge in commuter traffic. This prompts city authorities to collaborate with MaaS providers to offer a comprehensive range of transportation options. This reduces reliance on private cars and promotes sustainable travel choices. Advancements in mobile technology, GPS, and data analytics have paved the way for MaaS platforms. These technological innovations enable real-time trip planning, seamless booking, and integration of various transportation modes within a single app. A tech-savvy MaaS startup harnesses advanced mapping and routing algorithms to optimize multi-modal transportation routes, providing users with efficient and time-saving travel options. A city with ambitious sustainability goals partners with MaaS operators to incentivize eco-friendly transportation options by offering discounts or subsidies to users who choose public transit or bike-sharing. Consumer preferences are evolving, with rising interest in on-demand and personalized services.

MaaS caters to this trend by providing convenient, user-friendly, and tailored transportation choices. A generation of tech-savvy millennials embraces MaaS platforms as their go-to solution for daily commuting, citing ease of use, cost-effectiveness, and environmental benefits as key factors influencing their choice. Collaboration between public transit agencies, private companies, and MaaS providers creates opportunities for creating comprehensive and integrated transportation networks. A city's public transit authority partners with ride-hailing and bike-sharing companies to integrate their services into the MaaS platform, providing commuters with a seamless and interconnected travel experience. Governments around the world encourage MaaS adoption to address transportation challenges and reduce congestion. Incentives, policy support, and funding initiatives further drive MaaS market growth. The national government introduces tax incentives for MaaS companies. It allocates funding for smart infrastructure development to support transportation mode integration.
Awareness and Use of Transport Services, In 2022, (%)
Changing Consumer Behavior Hindering MaaS Adoption.

Mobility as a Service (MaaS) faces significant challenges that hinder its widespread adoption and implementation. One of the primary challenges lies in data management. MaaS systems rely heavily on collecting and processing vast amounts of data from various sources, including transportation providers, users, and third-party platforms. Effectively managing and protecting this data is crucial for user privacy and maintaining system integrity. Regulation poses another complex challenge for MaaS. The transportation industry operates under a myriad of laws and standards, varying across different regions and modes of transport. Navigating this complex regulatory environment is demanding. Ensuring a level playing field for all participants is essential for fair competition and sustainable MaaS growth. MaaS's success depends on physical and digital infrastructure availability and adequacy. This includes reliable public transit networks, well-maintained bike lanes, charging stations for electric vehicles, and robust mobile networks to support seamless connectivity.

The absence of inadequacy of such infrastructure in certain areas hinders MaaS systems' efficiency. Changing consumer behavior poses a significant challenge to MaaS adoption. Many users are accustomed to traditional transportation modes and resist shifting to more innovative and unfamiliar services. Consumer preferences and behaviors change over time, making it challenging for MaaS providers to anticipate and cater to evolving needs effectively achieving seamless integration of diverse transportation modes is vital to MaaS's success. Coordinating and collaborating with different transportation providers and stakeholders is complex, given their competing interests and priorities. Effective integration is necessary to create a cohesive and interconnected transportation network. Affordability remains a barrier to MaaS adoption for certain demographics, those with lower incomes or residing in rural areas with limited transportation options. MaaS services must be accessible and cost-effective for all users is essential for equitable and inclusive mobility solutions.
Shared Mobility Has Yet To Reach Mainstream Adoption, In 2022, (%)
Investing in Infrastructure Enhancing MaaS Efficiency and Accessibility.

MaaS presents an opportunity to leverage vast amounts of data to gain valuable insights into transportation patterns and user preferences. This data-driven approach leads to better service optimization and personalized travel recommendations for users. Regulatory challenges require collaboration between governments, transportation providers, and MaaS operators. By working together, stakeholders create a conducive environment for MaaS growth and ensure fair competition in different transportation modes. As MaaS gains traction, there is an opportunity for increased investment in infrastructure development. This includes expanding public transit networks, creating dedicated bike lanes, and implementing charging stations for electric vehicles. Improved infrastructure will enhance the overall MaaS experience.

Consumer behavior challenges can be addressed through targeted education and awareness campaigns. By highlighting the benefits of MaaS, such as convenience, affordability, and sustainability, more individuals are encouraged to adopt these innovative transportation options. Although integrating diverse transportation modes is complex, successful integration presents an opportunity for a more seamless and efficient travel experience. Collaborative efforts lead to smoother interchanges between different modes, making MaaS an attractive choice for users.
Global Service Revenue Generated By Autonomous Driving in 2029 (US$ Million)
Mobility as a Service Market, Segmental Insights:
Based on the Service Type, In the Mobility as a Service Market, New Paradigm in Transportation, Ride-hailing services are one of the dominant segments of the Mobility as a Service (MaaS) market in 2022 and are expected to grow in the forecast period. Ride-hailing platforms, such as Uber, Rapido, Ola, and Lyft, have gained widespread popularity in urban areas, offering users the convenience of booking a ride with just a tap on their smartphones. These services provide on-demand transportation options, eliminating private car ownership and promoting more efficient vehicle use. Ride-hailing has been preferred by many commuters due to its ease of use, real-time tracking, and often competitive pricing compared to traditional taxis. Car-sharing is another significant segment of the MaaS market, contributing to improved resource efficiency and reduced congestion. Car-sharing platforms allow users to access shared vehicles for short-term use, promoting a shift from private car ownership to shared mobility. It is possible to book a car when needed, and the vehicle is returned to a designated parking spot once used.

Car-sharing services have seen steady growth, especially in urban areas, where individuals find it more economical to use rented cars occasionally rather than owning a private vehicle. Micromobility, including services like bike-sharing and electric scooter-sharing, has seen a surge in popularity and has become an integral part of the MaaS ecosystem. These services provide convenient options for short-distance travel, complementing other modes of transportation. Micromobility solutions are particularly attractive for last-mile connectivity, allowing users to cover the distance between public transit stations and their final destinations. The segment's growth is supported by the increasing availability of electric bikes and scooters, making them more accessible and eco-friendly.



Mode of transportation
Information


General data regardless of the mode of transportation
Third-party information about services with locations


Car/Bike/Scooter Sharing
Location, vehicle information (type, engine, fuel/ charge state), station details, availability, price schemes


Public Transport
Routes, trips, stops, arrival and departure times, service intervals, real-time incidents and delays, tickets,


Ride Sharing
Locations, vehicle and driver info, price schemes


Ride Hailing
Locations, vehicle and driver info, price schemes


Car/Bike/ Scooter Renting
Locations, hours, available vehicles, additional info (e.g. pricing, insurance)


Taxis
Locations, vehicle and driver info, pick-up and arrival times, price schemes


Demand-Responsive Transport (DRT)
Locations, vehicle and driver info, pick-up and arrival time, price schemes


Parking & Charging
Car and parking lot location, capacity, availability, price schemes



Mobility as a Service Market, Regional Insights:
The Asia Pacific region is emerging as a dominant force in the MaaS market. There is significant traffic congestion and air pollution in the region due to densely populated urban centers. These issues have spurred governments and private entities to explore innovative mobility solutions like MaaS to address the growing demand for efficient transportation. Smartphone adoption and increasing internet penetration in the Asia Pacific have facilitated the rapid uptake of MaaS platforms. The Asia Pacific region has witnessed significant investments in micro-mobility services, particularly bike-sharing and electric scooter-sharing. Companies like Ola and Mobike in China and Bounce in India have played a pivotal role in popularizing shared micro-mobility options. Asia Pacific has become a hub for multimodal transportation integration through MaaS platforms.

North America is also a leading player in the MaaS market, with the United States and Canada driving growth. In North America, Uber and Lyft dominate the ride-hailing segment. These platforms have reshaped urban transportation by providing convenient on-demand ride services to millions of users. North America has seen significant advancements in the car-sharing industry. Car-sharing services like Zipcar and Turo have gained popularity in urban areas where individuals seek alternatives to car ownership. These services contribute to reducing privately-owned vehicles on the road, aligning with MaaS sustainability goals.

Europe is a frontrunner in the MaaS market, characterized by its diverse and well-connected transportation systems. The region's cities have embraced MaaS concepts to address urban mobility challenges effectively. Europe's ride-hailing segment is growing steadily, with Uber and Bolt expanding to multiple cities. Car-sharing has gained traction in Europe, with companies like Share Now (formerly Car2Go and DriveNow) and Getaround offering flexible car-sharing options to users in various European cities. These services align with the region's emphasis on sustainable urban mobility solutions. The success of bike-sharing in Europe has inspired the integration of these services into MaaS platforms, enabling users to access shared bicycles seamlessly.
Mobility as a Service Market Scope: Inquire before buying



Mobility as a Service Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 149.43 Bn.


Forecast Period 2023 to 2029 CAGR:
40.1%
Market Size in 2029:
US $ 1583.09 Bn.


 Segments Covered:
by Service Type
Ride Hailing
Car Sharing
Micro mobility
Bus Sharing
Train Services


by Solution Type
Technology Platforms
Payment Engines
Navigation Solutions
Telecom Connectivity Providers
Ticketing Solution Insurance
Insurance Services


by Transportation Type
Public
Private


by Vehicle Type
Micro mobility
Four-wheelers
Buses
Trains


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


by Operating System
Android
iOS
Others (Linux, Symbian OS, Blackberry OS, Windows, and KaiOS)


by Business Model
Business-to-Business
Business-to-Consumer
Peer-to-Peer


by Propulsion Type
ICE Vehicle
Electric Vehicle
Hybrid Electric Vehicle
CNG/LPG Vehicle



Mobility as a Service Market, by Region:
North America (United States, Canada, and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)
South America (Brazil, Argentina, and the Rest of South America)
Mobility as a Service Key Players:
1. 99Taxis
2. Addison Lee
3. ANI Technologies Pvt. Ltd.,
4. Beijing Xiaoju Technology Co., Ltd,
5. BlaBla Car
6. Cabify
7. Careem
8. Citymapper, Ltd,
9. Communauto Inc.,
10. Daimler AG.,
11. DiDi Chuxing Technology Co.,
12. Easy Taxi
13. Gett
14. Gocatch
15. Grab Taxi
16. HINOMARU KOTSU,
17. Ingogo,
18. Lyft Inc.
19. Meituan (Mobike)
20. Meru Cabs,
21. Mobilleo
22. Moovit Inc.
23. Ola Cabs
24. SkedGo Pty Ltd
25. Smile Mobility
26. Tranzer
27. Uber Technologies Inc.
28. UbiGo AB
29. Whim (MaaS Global Oy),
30. Wiwigo
31. Yandex Taxi
FAQs:
1. What are the growth drivers for the Mobility as a Service Market, The New Paradigm in Transportation?
Ans. Advancements in Technology Propelled the Rise of Mobility as a Service Platform is expected to be the major driver for the Mobility as a Service Market, The New Paradigm in Transportation.

2. What is the major restraint for the Mobility as a Service Market, The New Paradigm in Transportation growth?
Ans. Changing Consumer Behaviour Hindering Mobility as a Service Adoption is expected to be the major restraining factor for the Mobility as a Service Market, The New Paradigm in Transportation growth.

3. Which region is expected to lead the global Mobility as a Service Market, The New Paradigm in Transportation during the forecast period?
Ans. Asia Pacific is expected to lead the global Mobility as a Service Market, The New Paradigm in Transportation during the forecast period.

4. What is the projected market size & growth rate of the Mobility as a Service Market, The New Paradigm in Transportation?
Ans. The Mobility as a Service Market, The New Paradigm in Transportation size was valued at USD 3.35 Billion in 2022 and is expected to grow at a CAGR of 32.1% from 2023 to 2029, reaching nearly USD 23.52 Billion.

5. What segments are covered in the Mobility as a Service Market, The New Paradigm in Transportation report?
Ans. The segments covered in the Mobility as a Service Market, The New Paradigm in Transportation report are By Service Type, Solution Type, Transportation Type, Vehicle Type, Application, Operating System, Business Model, and Propulsion Type, and Region.