Mobility as a Service Market Size, Share, and Trends 2024 to 2034

The global mobility as a service market size was estimated at USD 189 billion in 2022 and is expected to hit around USD 912.35 billion by 2032 and is poised to grow at a CAGR of 17.1% during the forecast period 2023 to 2032.

Key Takeaways

• Asia Pacific mobility as a service market size was valued at USD 76.5 billion in 2022.
• Europe accounted highest revenue share of over 30% in 2022.
• By vehicle type, the passenger car segment accounted revenue share of over 34.5% in 2022.

Mobility the word itself defines movement it includes various modes of transportation and improving the mobility services with the adapting technology with emerging developed countries across various regions. Due to increasing population increased demands for the mobility services which includes ride sharing, car sharing, bike commuting, public transport, trains are in demand. There is a wide growth of the mobility as a service during the forecast period. Focusing on development of the smart cities with low emission of carbon dioxide and decreased pollution in the region. Mobility such as Ola, uber, zip car and many more helped the mobility service to boost the market.

Developed manufacturing and technologies with the increased demands from the consumer have enhanced the mobility service market. Service mobility has gained the trust of customers over developed technology which provide effective and safe journey securely with in the time. Mobility service market with various developments of transport ride sharing, bike sharing, car sharing is estimated to grow and boost the market during the forecast period. The continues demand of the mobility service from the consumer in the emerging developed region have derived the market high.

Growth Factors

Enormous growth factor to increase the mobility as a service market with advanced technologies and facilities provided to the customers. Improved modes of transportation from one end to another increased the mobility management. Wireless connection from one mode to another it involves three domains consumer, driver and supporter. Wireless connecting through internet connectivity booking the transport with the smart phones. Improved internet connectivity technology with high internet speed with improved performance and good output.

Mobility as a service gained the trust of the customer with secure journey, reduced cost, reaching the destination before the time, transmission of the information over smart devices about the traffic jams over the lanes, decrease pollution because of less vehicles on the road and less emission of the carbon dioxide, increased parking management, relieve from riding or driving the vehicle itself, safe journey, safe driving, less accidents on the road. Increased solutions include traffic management, parking management, mobility management, ticket solution, navigating through wireless connection, phone connectivity, online payment which have shown an increased revenue share to rise the mobility as a service market.

The increased demand of the mobility as a service and inculcate in to the business development having maximized the growth of mobility service management. The market players involved with increased research and development have raised the market growth during the forecast period.

Mobility as a Service Market Dynamics

Key Market Drivers

• Government Support - Support from the various governments across the regions with developing and introducing passenger vehicles and electric passenger vehicles for example buses have improved the transportation modes and developing infrastructure of charging station for electric vehicles and investing providence. Which help to boost the market growth high.
• Increased Transportation- Increased modes of transportation for example bike sharing, car sharing, ride sharing, bike commuting, trains, and passenger vehicles. Such as Ola, uber, zip car and many more wireless connections with improved technology of internet connectivity 5G and 4G LTE connection with high internet speed and wireless communication with the driver over telecom with the usage of smart phones have increased market of mobility as a service.
• Increased solution- Increased modes of transportation with improved solution such as traffic management, parking management, mobility management, less emission which led to green city and developed smart city, reduced costing, decreased accidents have increased the market rate.

Mobility as a Service Market Scope

Key Market Challenges 

• Wireless connections- Mobility service involves connecting through wireless connection to the driver with the internet connectivity of 5G and 4G LTE connection with high speed internet over the smart phones. But the lack of connectivity may led to problem to connect for the mobility may led to decrease the market growth. Wi-Fi can led to improve the mobility as a service market growth.
• Providence- Mobility as a service market need the support from the government for developing infrastructure, telecom facilities to improve the growth in the market with developed technologies.
• Lack of knowledge- Lack of awareness among the people in the underdeveloped regions of the available mobility as as a service management in the region with the lack of knowledge of smart phones among the people may affect the market due to decreased demand can hamper the growth of mobility as a service market.

Key Market Opportunities

• Mobility as a service management with increased opportunities with developed technologies of the mobility services across the regions with improved urbanization and improved revenue share boosted the mobility service market to grow high
• Increased cyber security connecting through customers over Internet of thing involves performance over clouding with improved safety and measurements to perform various functions without interruption of connectivity. Transmitting data from one user to another user with the clouding system and improved technology for transmitting information through the smart devices to connect the people. 

Application Insights

Mobility as a service on the basis of application with increased utilization in traffic management, parking management, mobility management, with increased application services, journey planning accordingly payments done online with easy transactions, decreased number of accidents in the regions with improved technologies overall. Usage in business development collaboration with many other market players with improved technology and wireless connections which maximized the market. Rise of the market with the utilization of the mobility services which helped to boost the market growth high.

End User Insights

Mobility as a service on the basis of end user utilization in various sector for business developments, transport services, academics, civil work, hospital transport facility, municipal sector, with improved technology and wireless connection mobility became easy with high internet speed without interruption have gained the attention of the market with increasing commercial vehicles and private vehicles across the regions.

Mobility as a Service Market Share, By Region, 2022 (%)

Geography Insights

Mobility as a service on the basis of geographical regions with emerging under developed countries with new developments and features in mobility as a service management. Asia pacific to be at the top position to hold the market growth and increase the revenue share to boost the market of mobility as a service. North America, Europe, Latin America, Middle East and Africa to hold the highest position of mobility as a service with increasing demands due to increased population.

Recent Developments

• In the year 2018 February, Citymapper pass was introduced by the citymapper, subscription of the smart travelling card with the multimodal mobility app to all the mobility managements. Launched in London for public transport such as buses, cycles and cabs.
• In the year 2019 April, Mobilleo involved a hailing ride transport option which can connect wireless for contacting the car or a taxi ride services nearby. Collaboration with multiple services and can connect globally from anywhere for a mobility service such as hailing ride.
• In the year 2020 May, mobility as a service Global Oy collaborated with Finland largest, Enfuce to startup new payment mode to introduce a payment through card through mobility app. The collaboration gave rise to issue master card prepaid cards and to the mobility as a service market.

Mobility as a Service Market Scope

• Lyft, Inc.
• Moovit, Inc.
• Uber Technologies, Inc
• Communauto, Inc
• Citymapper, Ltd
• MaaS Gobal Oy
• uBIgO Innovation AB
• SkedGo Pty, Ltd.
• Moovel Group GmbH

Segments covered in the report

By Service Type

• Ride Hailing
• Car Sharing
• Micromobility
• Bus Sharing
• Train Services

By Solution Type

• Technology Platforms
• Payment Engines
• Navigation Solutions
• Telecom Connectivity Providers
• Ticketing Solutions
• Insurance Services

By Transportation Type

• Public
• Private

By Vehicle Type

• Micromobility
• 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

By Mode

• Public
• Private

By End User

• Business Developments
• Transport Services
• Academics
• Civil Work
• Hospital Transport Facility
• Municipal Sector

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)