Mobility As A Service Market (2019–2023) To Be More Than US$ 550 Bn, With CAGR Value Of 31.5%, Says MarketResearch.Biz

MarketResearch.biz announces publication of its most recently generated research report titled, “Global Mobility as a Service Market by Type (Public and Private), by Application (Below 25 Years Old, 25-40 Years Old, and Above 40 Years Old), and by Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) Forecast to 2028.”, which offers a holistic view of the global mobility as a service market through systematic segmentation that covers every aspect of the target market.

The global mobility as a service market is expected to value at more than US$ 45 Bn in 2019 and is expected to register a CAGR of 31.5%. The first five-year cumulative revenue (2019–2023) is projected to be more than US$ 550 Bn, which is expected to increase relatively over the latter part of the five-year forecast period.

Mobility-as-a-Service, also known as Transportation-as-a-Service (TaaS), and the key concept behind MaaS is to offer travelers mobility solutions based on their travel needs. It can be reffered as a shifting trend from personally-owned vehicles as a mode of transportation towards mobility solutions as a service offered by various companies or agencies.

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Global Mobility as a Service Market: Market Dynamics

Major factor driving growth of the global mobility as a service market is increasing adoption of smartphones with 3G and 4G compatibility and an increasing number of apps, including apps used for booking cabs. In addition, rapidly growing transportation and telecommunication industry in various developed and developing countries, increasing initiatives by governments for promoting shift towards digitalization, and increasing preference for cashless payment and online transactions are some of the other factors expected to drive growth revenue of the global mobility as a service market. Moreover, increasing number of accidents due to driving under the influence of alcohol is expected to lead to higher demand for MaaS among individuals.

Rapid developments in information technology sector have created potential opportunities to transform current transportation network into more efficient and user-friendly system and this is expected to drive growth of the target market over next 10 years.

Global Mobility as a Service Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global mobility as a service market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global mobility as a service market is expected to register a CAGR of 31.5% over the forecast period.

Global Mobility as a Service Market: Segmental Snapshot

The market report has been segmented on the basis of type, application, and region. The type segment includes < below 25 years old, 25-40 years old, and above 40 years old. The application segment includes public and private. The region includes the North America, Europe, Asia Pacific, South America, and Middle East & Africa.

By Type: The private segment is expected to register highest CAGR of over 30% over the next 10 years

By Application: The 25-40 years old segment is expected to register highest CAGR of over 31% over the forecast period in the global market

By Region: The market in Asia Pacific is expected to register highest CAGR of over 34.8% in global mobility as a service market

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Global Mobility as a Service Market: Competitive Analysis

The research report on the global mobility as a service market includes profiles of some of the major companies such as Uber Technologies Inc., Didi Chuxing Technology Co., Ltd., Lyft Inc., Gett, Inc., Mytaxi, Ola Cabs, BlaBlaCar, Careem, Careem, Kakao Corp., Addison Lee Limited, MERU Cabs, Via Transportation Inc., Yandex N.V. (Yandex.Taxi), LeCab SAS, Ingogo PTY LTD, Flywheel Software, Inc., Easy Taxi Serviços Ltd., and Gocatch.

The Global Mobility as a Service Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global mobility as a service market for 2018–2028.

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