Mobility as a Service Global Market Report 2024

The global mobility as a service market has grown rapidly in recent years. It will grow from $180.38 billion in 2023 to $210.14 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth experienced in the past period can be credited to several key factors, including the widespread adoption of smartphones, a growing emphasis on environmental sustainability targets, government-backed initiatives aimed at developing smart cities, the convergence of public and private transportation networks, efforts directed at enhancing economic and operational efficiency, evolving demographics and lifestyle changes, the proliferation of micromobility solutions, and the increasing consumer demand for streamlined and convenient travel experiences.

The global mobility as a service market is expected to see rapid growth in the next few years. It will grow to $406.97 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. Anticipated growth in the forthcoming period is expected to stem from advancements in autonomous vehicle technology, enhanced integration with smart infrastructure, a heightened emphasis on user-centric design, the global surge in urban populations, the evolution of digital identity and personalized services, an increased focus on health and safety aspects, innovations in payment structures and subscription models, as well as supportive policies promoting Mobility as a Service (MaaS) implementation. Key trends projected for this period encompass digital ticketing and payment solutions, the utilization of real-time data and analytics, the widespread adoption of IoT and connectivity, in-app mobility services, bolstered cybersecurity measures, diverse transportation modes, solutions for last-mile connectivity, and an upsurge in partnerships and collaborations within the industry.

The global surge in shared mobility adoption is anticipated to drive the growth of the mobility as a service market. Shared mobility encompasses various practices like carpooling, vanpooling, bike sharing, and on-demand ride services, offering alternatives to conventional transit modes. Mobility as a service facilitates shared mobility by integrating technology and applications. Notably, McKinsey's 2020 ACES consumer study highlighted that over 60% of consumers would share costs for a shared-mobility journey with a stranger if it increased travel time by no more than 15% while reducing expenses. Hence, the increasing embrace of shared mobility is set to propel the mobility as a service market.

The advancement of 4G/5G infrastructure and widespread smartphone usage is expected to fuel the mobility as a service market. The evolution of 4G and 5G networks provides the high-speed, low-latency connectivity crucial for MaaS operations. Smartphones serve as primary interfaces for MaaS users, enabling access to MaaS platforms. For instance, reports from international telecommunication unions estimate that around 5.16 billion people, approximately 64.4% of the global population, will use the internet in 2023. Additionally, a Cybercrew report from March 2023 highlighted that UK smartphone usage in households reached 91.43% in 2021 and is projected to rise to 93.8% by 2026. This progression in infrastructure and smartphone penetration will elevate demand in the mobility as a service market.

Technological innovation emerges as a significant trend shaping the mobility as a service market. Major industry players are pioneering innovative technologies, such as integrated mobility as a service, to fortify their market positions. Integrated mobility involves collaboration among service providers to offer suitable transportation options at each stage of a route. For instance, SUN Mobility launched Integrated Mobility-as-a-Service (MaaS) in August 2021, bundling electric vehicles and an unlimited swap plan, aiming to onboard over a million vehicles onto its battery-swapping platform by 2025.

Strategic partnerships and collaborations are a strategic approach for major companies entering the mobility as a service market. Such alliances with startups and mid-sized firms broaden product portfolios and geographical reach. An example is the collaboration between kia corporation and kakao mobility in April 2023, aiming to construct customer-centric mobility services leveraging vehicle operation data and software platforms, facilitating global expansion in logistics and transportation for people with mobility constraints.

In June 2021, MaaS Global, the company behind the Whim mobility-as-a-service app, acquired Wondo, a Spanish mobility startup. This acquisition aims to rapidly expand into new markets and bolster both B2B and B2C service offerings, a crucial strategy in the swiftly evolving MaaS market landscape.

Major companies operating in the mobility as a service market report are Uber Technologies Inc., SkedGo Pty Ltd., Moovit Inc., Moovel Group GmbH, UbiGo Innovation AB, Citymapper Ltd., Communauto Inc., Lyft Inc., ANI Technologies Pvt Ltd., Avis Budget Group Inc., Beijing Xiaoju Technology Co. Ltd., Grab Holdings Inc., Hertz Global Holdings Inc., Europcar Mobility Group S A, Sixt SE, Didi Chuxing Technology Co. Ltd., Ola Cabs Technology Pvt. Ltd., BlaBlaCar SAS, Zipcar Inc., Car2Go North America LLC, DriveNow North America LLC, LimeBike Inc., Bird Rides Inc., Spin Inc., Jump Mobility Inc., Transit App Inc., MaaS Global Oy, Beeline Singapore Pte Ltd., Karhoo Technologies Ltd., Bolt Technology OU, Free2Move Services, Wunder Mobility GmbH

Asia-Pacific was the largest region in the mobility as a service market in 2023. The regions covered in the mobility as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobility as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The various types of Mobility as a Service, distinct services include ride-hailing, car sharing, micromobility, bus sharing, and train services exist, complemented by an array of solutions. These solutions encompass technology platforms, payment engines, navigation tools, telecom connectivity services, ticketing solutions, and insurance services. Ride-hailing, for instance, involves customers ordering rides via smartphone applications, facilitated by intermediary platforms connecting passengers with drivers. The utilization of MaaS extends across iOS, Android, and various applications serving personal and business requirements.

This report provides mobility as a service market statistics, including mobility as a service industry global market size, regional shares, competitors with a mobility as a service market share, detailed mobility as a service market segments, market trends and opportunities, and any further data you may need to thrive in the mobility as a service industry. This mobility as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mobility as a service market includes revenues earned by entities through car rental and shuttle services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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